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Top 10 Insights on Future of Global Market for Plant-based Ice-creams

Harry Suresh

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LONDON,UK — July 11, 2017. Future Market Insights’ recent report on the global market for plant-based ice-creams reveals the impact of lactose intolerance in creating a vast consumer base for such non-dairy products. Increasing population of lactose intolerant consumers is observed to be driving force for growing consumption of plant-based ice-creams.

Moreover, higher protein content in plant-based ice-creams is making them healthier options among ice-creams. Producers of plant-based ice-creams are focusing towards improving the taste of these ice-creams as consumers are demanding a wide variety of flavours. Following highlights from the report will elucidate the growth of global plant-based ice-creams market during the forecast period, 2017-2027.

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  • According to the report, the global market for plant-based ice-creams will reach a value of US$ 1 Bn by the end of 2017, recording an estimates sales of 194.5 thousand tonnes of plant-based ice-creams. Towards the end of 2027, the global consumption of plant-based ice-creams will reach 500 thousand tonnes, reflecting an estimated value of US$ 2.45 Bn.
  • Voluminous growth of the global plant-based ice-creams market will be marginally lower than its revenue growth as the market is expected to reflect of a volume CAGR of 9.1% and a value CAGR of 9.3% over the forecast period.
  • In 2017, close to 60% of global plant-based ice-creams revenues will be accounted by sales of bars and cones. Demand for cups or tubs of plant-based ice-creams, on the other hand, will gain traction as global sales recorded in this product segment will contribute to nearly 30% of global market value by the end of 2027.
  • In 2017 and beyond, the global demand for plant-based ice-creams in single-flavour form will be slightly lower than that of blends as the latter form of plant-based ice-cream will dominate with a global revenue share of 51% and above.
  • The report predicts that fruits, dry fruits (nuts) and beans will be prominent flavours of plant-based ice-creams. By 2027, nearly 140 thousand tonnes of fruit-flavoured plant-based ice-creams are expected to be consumed across the globe.
  • Majority of plant-based ice-creams produced in the world will be sourced from soy milk. Through 2027, plant-based ice-creams sourced from soy milk are predicted to reflect a 10.1% CAGR in terms of revenue.
  • Global revenues accounted by direct sales of plant-based ice-creams will be gaining traction throughout the forecast period, registering a value CAGR of 10%. On the other hand, indirect sales channels for plant-based ice-creams are dominating the market with nearly 60% value share, albeit, their global revenue contribution is expected to incur a considerable decline by 2027-end.
  • By the end of 2027, North America and Western Europe are expected to dominate the global plant-based ice-creams market as these regions will individually attribute to an estimated 34% of global revenues.
  • The Asia-Pacific excluding Japan (APEJ) region is also accounting for a considerable share in global revenues, however, consumption of plant-based ice-creams is expected to lose traction in the APEJ market towards the latter half of the forecast period.
  • The report also profiles prominent players in the global plant-based ice-cream market, which include Ben & Jerry’s Homemade Inc., Bliss Unlimited, LLC, LUV Ice Cream LLC, SO DELICIOUS DAIRY FREE (Danone), Oatly AB, Jollyum Co., The Booja-Booja Co., LITTLE BABYS ICE CREAM LLC, Klein’s Ice Cream Inc., and Frankie & Jo’s. Other key players in the market are observed to be Happy cow ltd., Tofutti, Breyers, Dream, Nadamoo, ARCTIC ZERO, Inc., Snowflake Luxury Gelato, Wink Frozen Desserts, Nobó ltd., Imuraya Group Co. Ltd. 

Source: Future Market Insights, additional research by NicheHunt staff

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Amazon

Shopping trends: 72.1% of shoppers will turn to Amazon first this holiday season

Harry Suresh

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Shopping-trends-Amazon

The holiday season is fast approaching and a new survey reveals insights into how shoppers will hunt for products and what trends retailers should be aware of in order to capitalize on the end of the year retail boom.

The study, commissioned by CPC Strategy and carried out by the independent research firm Survata, surveyed 1504 consumers to understand how they will shop in the fourth quarter of 2017, and specifically in regards to Black Friday, Cyber Monday and Christmas.

Holiday Sales Look Encouraging

The general takeaway from the study found that end of year sales looks promising for retailers as more and more millennials are coming of age and willing to spend significantly more money during the holidays.

Among 18-24 year-olds, 23 percent said their spending will increase. On top of this, 79 percent of Baby Boomers — the biggest spending cohort during the holidays — said they would spend roughly the same this year.

Overall, 88 percent of shoppers plan to spend the same or more this year on gifts, meaning the staggering $658.3 billion spent last year will most likely be matched and probably even surpassed.

As for individual spending on gifts, 62.1 percent said they will spend $500 or less, with 30 percent spending $250-499. Over 26 percent will spend $500-1000 and 11.2 percent will spend more than $1000.

Shoppers are evenly divided on when they will hit the stores, whether online or brick-and-mortar, in search for gifts. One-third will start holiday shopping before Thanksgiving, another third will start on Thanksgiving weekend and the following Cyber Monday, and the final third will begin their shopping in December.

Similar to last year, December 17, also known as Super Saturday, is again expected to be the biggest holiday shopping day.

Amazon Leads the Pack

What shouldn’t surprise anyone is Amazon’s continued dominance in the retail marketplace.

Of the respondents, 72.1 percent said they would search for gifts on Amazon compared to just 60 percent who said they will look for gifts in-store at big box retailers like Wal-Mart and Target. An even lower number, 38.6 percent, said they will browse these big box retailer’s online stores.

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Women are much more likely to shop in-store at big box retailers (67%) while men were fine to do their holiday shopping online at Amazon (76%). Millennials heavily favored shopping online rather than in big box retailers.

And lastly, 46 percent of holiday shoppers will use specialty retailers who target their specific demographic to find gifts and products.

Low Prices Rule the Day

When asked what the main driving force is behind which brand or retailer a holiday shopper choices for purchasing gifts, the overall price was far and away the most important factor. The next highest was brand quality, at 16.2 percent.

As echoed in other studies, the youngest generation surveyed (18-24 year-olds), were far less price conscious, with 23 percent emphasizing brand quality and 10 percent valuing friend or family recommendations (both the highest of any age group).

The oldest generation in the study, 55-64, favored product selection as the second most important factor behind price.

In addition to low prices, the survey found that “fast and free shipping isn’t just optional — it’s now the baseline for retailers.”

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Holiday shoppers also frequently used their phones to check prices while searching for products in-store — only 28 percent didn’t check the online cost. Of these price wary consumers, 32 percent checked a product’s price on Amazon before committing to a purchase, followed by Google (23%) and the retailer’s website (10.1%).

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Consumer Products

Apple granted patent for convertible headphone earcups

Harry Suresh

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apple-convertible-headphone-earcups

Today Apple has been granted a patent that would allow it to manufacture headphones with circumaural to supra-aural convertible earcups.

According to the patent application named “Circumaural to supra-aural convertible headphone earcups “, Apple’s latest invention improves on conventional headphones by providing headphone earcups that can be converted between over the ear (e.g., supra-aural) and around the ear (e.g., circumaural) configurations, and any size in between. For example, the earcup may have an expandable cushion or telescoping ring connected to a frame system similar to a Hoberman Sphere.

apple-convertible-headphone-earcups

“Supra-aural headphones have earpads that are smaller than those of circumaural headphones and press on the user’s ears, instead of the head. Supra-aural headphones are therefore typically smaller than circumaural headphones and may be more suitable for daily use and travel. Because the earpads of supra-aural headphones can rest on the user’s ears, however, they can become uncomfortable after a period of time and achieve less sound attenuation than circumaural headphones,” reads the document published by the U.S. Patent and Trademark Office on Tuesday.

 

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Patents don’t always turn into products and it’s unclear if Apple plans to implement the new headphone design into upcoming devices.

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Consumer Products

5 Niche Product Packaging Trends to Elevate Your Brand

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lifewtr-bottle

August 9, 2017 — Packaging is a critical aspect of the marketing offer, with many implications for the multi-sensory customer experience. It can affect attention, comprehension of value, perception of product functionality, and also consumption, with important consequences for consumer experience and response. Thus, while it was once viewed as being useful only for product preservation and logistics, package design has evolved into a key marketing tool.

In the ever competitive retail marketplace, it’s important to get a leg up on the competition; and creative niche product packaging is an effective way to separate your products from the pack.

Here are 5 current trends in product packaging that can help boost your brand:

1. Eco-friendly Product Packaging

As more and more people become eco-conscious every year, it provides brands an opportunity to differentiate themselves from the crowded marketplace by turning aspects of their business eco-friendly. Not only does this build brand reputation, but it also performs a social good.
La Tour Cafe, a Hawaiian fast casual restaurant chain, achieved this goal recently by switching to wheat straw containers — a 100 percent renewable resource — for both dining in and takeout.

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Another example of eco-friendly product packaging is Brooklyn-based Neighbors Allied for Good Growth’s Shareware program. The program currently has two partner restaurants that allow customers to opt-in to receiving reusable containers when ordering take out at no extra cost. The customers can then return the containers at their convenience and receive a coupon.

2. Seasonal-themed Product Packaging

People’s moods often change with the season, and taking advantage of this through niche product packaging is a great way to draw eyes to your product. A great example of this comes from Korean beauty brand Etude House who recently added a line of lip tints packaged in popular summer treats like popsicles, ice cream, and fruits.
etude-house-products

3. Product Packaging for the Social Media Generation

The most seductive target market for many brands is young adults, but brand marketing towards the younger generations can often feel forced and contrived. Offshoot Beer Co. recently found an excellent way to use niche product packaging to capitalize on Millennials love for photo sharing on social media. The brewer launched a new beer called “Fashionably Late” that featured a pair of sunglasses designed onto the side of the can, letting drinkers hold it up to their face for a photo-op while wearing beer shades.

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4. Bring Art to Your Product

A simple and very accessible niche product packaging tactic is to make your products stand out with the help of artists. Temper and Candela both hired creative agencies to design abstract art packaging for their chocolate products.
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And LIFEWTR, a premium bottled water brand, features artwork from emerging female artists on their bottles — a great way to build brand awareness by giving oft-overlooked female artists a spotlight.
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5. Convenient Product Packaging

It is definitely true that we all live busy lives. So any product packaging that can alleviate stress or inconvenience has a huge advantage over its competitors. One brand that nailed this is Northern California’s Salt Points. The liquor brand launched a pre-mixed Moscow Mule in a can. Instead of consumers having to go out of their way to a bar to drink one, Salt Points brought it to store shelves giving shoppers the ability to drink it on the go.
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