The global vegan yogurt market is expected to reach US$ 10.06 Bn exhibiting a CAGR of 18.5% during the forecast period 2023-2030.

BURLINGAME, CALIFORNIA, UNITED STATES, December 5, 2023 /EINPresswire.com/ -- The Vegan Yogurt Market is estimated for $5 billion for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Vegan yogurt is a plant-based alternative to dairy yogurt made from coconut, almond or soy milk. It provides the same texture and flavor profile as dairy yogurt but is free of dairy, gluten and soy. Vegan yogurt is preferred by health-conscious consumers looking for dairy-free and plant-based options.

Market Dynamics:

Growing health consciousness and increasing cases of lactose intolerance are driving the growth of the vegan yogurt market. Rising awareness about veganism and animal welfare has also boosted the demand for plant-based dairy substitutes like vegan yogurt. Innovation in flavors and formats by vegan yogurt manufacturers to appeal to a variety of tastes is further propelling the market growth. The market is witnessing increasing new product launches with ingredients like coconut, almond, cashew or oat milk in Greek, low-sugar and probiotic varieties.

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Top Key Players are Covered in this Report:

★ Barambah Organics Pty Ltd.
★ Blue Diamond Growers
★ Daiya Foods Inc. (Otsuka Pharmaceutical Co. Ltd.)
★ Dean Foods (Dairy Farmers of America)
★ General Mills Inc.
★ Granarolo S.P.A.
★ The Hain Celestial Group Inc.
★ Vitasoy
★ White Wave Foods (Danone)
★ Danone S.A.
★ Oatly A.B.
★ Forager Project
★ Coyo Pty Ltd.
★ Chobani Global Holdings
★ Kite Hill.

Detailed Segmentation

By Product Type:

★ Soy
★ Almond
★ Oats
★ Coconut
★ Others

By Application:

★ Frozen Dessert
★ Food
★ Beverages
★ Others

By Flavor:

★ Vanilla
★ Strawberry
★ Mixed Berry
★ Raspberry
★ Peach
★ Others

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Vegan Yogurt Market Drivers

1: Increasing health consciousness among consumers

The vegan yogurt market has been growing steadily over the past few years due to the rising health consciousness among consumers. More people are becoming aware of the various health benefits of consuming plant-based and dairy-free products. Vegan yogurts are considered healthier alternatives to dairy yogurts as they are low in calories and fat but high in proteins, vitamins, and probiotics. The avoidance of dairy also appeals to those with lactose intolerance or milk allergies. The clean label and hypoallergenic qualities of vegan yogurts are major attractions for health-conscious buyers.

2: Growing demand for plant-based food options

Another important driver for the vegan yogurt market is the rising demand for more plant-based food products. Consumer demand for vegan food options is growing globally due to factors like concerns about animal welfare, environmental sustainability, and dietary preferences like veganism and vegetarianism. People are increasingly looking to replace dairy products with plant-based substitutes made from ingredients like soy, coconut, almonds, etc. Vegan yogurts made from these dairy alternatives have emerged as popular substitutes to satisfy the surging demand for non-dairy and vegan snacks and meals. Food companies are swiftly responding to this trend by launching more innovative vegan yogurt varieties.

Vegan Yogurt Market Restrain: Higher costs than conventional dairy yogurts

While demand is growing for vegan yogurts, higher production costs remain one of the major restraints for the market. Vegan yogurt products tend to be more expensive than regular dairy yogurts due to the costs involved in procuring and processing plant-based ingredients like almond milk or coconut cream. The R&D costs of experimenting with new formulations and flavors are also significant for vegan yogurt brands. Achieving the right balance of texture, taste and protein content requires extensive research and testing. These factors contribute to the higher retail prices of vegan yogurt compared to dairy varieties, limiting their mass appeal.

Vegan Yogurt Market Opportunity: Growing popularity of plant-based diets

The climbing popularity of vegan and plant-based diets worldwide presents a major growth opportunity for vegan yogurt producers. According to statistics, over 6% of the global population now follows a vegan diet. This lifestyle shift is being fueled by many influences including environmental, ethical and health concerns. As flexible, convenient plant-based food options increase in availability across grocery stores and restaurants, more people are eager to incorporate vegan yogurt and other dairy alternatives into their daily meal routines. This wide acceptance and trial of plant-centric diets works in favor of companies selling innovative vegan yogurt products.

Vegan Yogurt Market Trends: Preference for natural and clean label ingredients

A notable trend gaining momentum in the vegan yogurt market is the consumer preference for products with simple, natural ingredients lists devoid of unnatural additives and preservatives. Clean label is a top priority for health-conscious buyers who want to understand every component of their food. Vegan yogurt brands are responding actively by designing products made from whole, organic ingredients and avoiding artificial thickeners, colors or flavors. The use of ingredients like coconut cream, almond milk and fruits appeals tremendously to this trend. Emphasis on minimal processing and an all-natural image helps vegan yogurt brands attract more customers concerned about ingredient transparency.

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The report answers a number of crucial questions, including:

✦ Which companies dominate the global Vegan Yogurt market?
✦ What current trends will influence the market over the next few years?
✦ What are the market’s opportunities, obstacles, and driving forces?
✦ What predictions for the future can help with strategic decision-making?
✦ What advantages does market research offer businesses?
✦ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
✦ What is the anticipated growth rate for the Vegan Yogurt market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Vegan Yogurt Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Contact Us:

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Coherent Market Insights Pvt. Ltd.
+1 206-701-6702
email us here
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