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An increase in awareness about the health benefits of dairy-free yogurts among customers is driving the growth of the Non-dairy Yogurt Market.

HYDERABAD, TELANGANA, INDIA, February 13, 2023 /EINPresswire.com/ -- Non-dairy Yogurt Market size is estimated to reach $8.22 Billion by 2026, growing at a CAGR of 14.51% during the forecast period 2021-2026. Non – dairy Yogurt is usually semi-solid food prepared from plant-based sources like coconut, cashew, and almonds. Non-dairy yogurt is said to have numerous health benefits which include; weight loss, a decrease in inflammation, and an improvement in metabolic rate. Growing demand for plant-based yogurts, increase in the investment by the major companies, rise in the standard of living, growing incidences of lactose intolerance and lactose sensitivity, and increase in awareness about the health benefits of dairy-free yogurts among the customers are the factors that are set to drive the growth of the global market for the forecast period 2021-2026.

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Key Takeaways

1. Geographically, Europe Non-dairy Yogurt Market accounted for the highest revenue share in 2020 and it is poised to dominate during the forecast period 2021-2026 owing to the growing demand for non-dairy flavored yogurts.

2. The gaining popularity of plant-based yogurts is driving the segment of soy-based yogurts.

3. Fluctuating prices of ingredients used in the formulation of non-dairy yogurts is one of the major factors that is said to reduce the growth of the Non-dairy Yogurt Market.

4. Detailed analysis of the Strengths, Weaknesses,es, and Opportunities of the prominent players operating in the market will be provided in the Non-dairy Yogurt Market report.

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Segmental Analysis:

1. The Non-dairy Yogurt Market based on the Source can be further segmented into Soya, Coconut, Cashew, and Others. The Soya segment held the largest share in 2020 owing to the factors such as soy-based yogurts are an excellent source of proteins when compared to dairy-based yogurts and they also help in reducing cholesterol and maintaining sugar levels in the body.

2. The Non-dairy Yogurt Market based on the Distribution Channel can be further segmented into Supermarkets, Online Stores, Convenience Stores, and Others. The supermarkets segment held the largest share in 2020 owing to the factors such as increased investment by the major players, one-stop shopping experience and growing demand for convenience foods. The easy availability of choice of flavour and trustworthiness in the supermarkets is propelling the growth of the market. Online Stores are estimated to be the fastest-growing segment with a CAGR of 18.90% during the forecast period 2021-2026.

3. The Non-dairy Yogurt Market based on Geography can be further segmented into North America, Asia-Pacific, Europe, and Rest of World (ROW). Europe held the largest share with 31.04% in 2020. The growth in this segment is owing to the factors such as growing demand for plant-based foods among customers, and rise in the disposable income of individuals. The growing demand for non-dairy flavoured yogurts in the region is propelling the growth of the market. Asia-Pacific is estimated to be the fastest growing segment during the forecast period 2021-2026.

Competitive Landscape:

The top 5 players in the Non-dairy Yogurt Industry are -

1. The Hain Celestial Group Inc
2. Danone SA
3. Nestle SA
4. Chobani LLC
5. Valio Ltd

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