The report Country Profile: Dairy & Soy Food in Australia gives a snapshot of the diary and soy food in Australia in comparison to the global level. It helps in identifying high potential categories and exploring future market opportunities based on their value and volume. It helps in gaining a deep understanding of the total competitive landscape based on brand analysis for market positioning to be successful. Analysis on key macro-economic indicators such as real GDP, nominal GDP, consumer price index, household consumption expenditure, population (by age group, gender, rural-urban split and employed people and unemployment rate is also provided. It also includes economic summary of the country along with labor market and demographic trends. The top players in the country are Arla Foods B.-d. Farm Paris Creek Pty Ltd Devondale Murray Goulburn Ballantyne Foods Pty Ltd Nuttelex Pty Ltd Peerless Holdings Pty Ltd Tablelands Spreads Tru Blue Unilever Plc Weight Watchers International Inc. Ashgrove Cheese Pty Ltd Australian Gold Bega Cheese Ltd. Collier’s Powerful Welsh Cheddar.
The report overall will provide insights on high growth categories to target, trends in the usage of package materials, category level distribution channel data and market share of brands; which will help in making strategic investments in the diary and soy industry of Australia.
Soy products are substitutes for milk products like cheese, yogurts, flavoured milk and such. Soy products are made up of soybeans. These products are mostly suited for vegans since they are perfect substitutes for dairy and meat products as well. The fact that soy beans are rich in protein and amino acids is what makes them very likable. The alternatives to milk products in terms of soy products include soy milk, soy flour and soy tofu and so on. Soy protein is used in various other products like baked goods, cereals, pasta and so on.
The reason for increase in the demand for soy products is mainly the growing health awareness among individuals due to increased health benefits. The lactose intolerant population, which is steadily growing, also gives wider possibilities for the soy market. Also, the relatively cheaper prices of soybeans to milk are a main driver for soy food market.
Australian consumers have been showing willingness to pay more for products that align with their dietary requirements. Since Australian economy is improving and the exchange rates are favourable, there is increase in premiumisation in Australia’s dairy and soy market which will mainly drive the demand in the drinkable yogurt category.
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Ankur Gupta, Head Marketing & Communications