Transition towards plant-based dairy substitutes : An exploratory study on the driving forces and the windows of opportunity for startups
Sammanfattning: A radical shift in consumption and production of food is necessary to combat climate change. This has sparked interest in diets and their implications on the environment, both among researchers and among consumers. Plant-based dairy substitutes is one field of products that is experiencing significant growth. The dynamics in the market have created many opportunities for startups to enter the market with new products. However, because of the novelty of the topic, business models for sustainable food startups is a lacking area of research. Further, in order to successfully enter the market, it is essential for startups to fully understand the market dynamics from a holistic perspective. To investigate the mechanisms driving the transformation, as well as the potential windows of opportunity for startups, a survey and interviews were conducted. The survey had the aim of understanding the drivers of change among the consumers. The interviews were conducted with multiple startups and related organizations, which aimed to discuss the survey results while looking at the supply side of the market. The survey results presented interesting insights such as potential target consumers, consumer preferences in the plant-based dairy space, and potential gaps in the market. This was followed by the interviews where the business models, industrial dynamics and challenges were explored. The results were analyzed by theoretical frameworks such as the multi-level perspective. This study concluded that a transition towards plant-based dairy substitutes is occurring and is mainly driven by concern for veganism/animal welfare and climate change in combination with R&D efforts which are rapidly improving the products’ taste, price and convenience. This transition has raised new windows of opportunity for startups to capture the market share with viable business model innovation. However, changing diets takes a large amount of time and many political institutions work to protect the dairy industry.
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