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Non-Dairy Yogurt Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Global Non-Dairy Yogurt Market Size, Share And Growth Analysis For 2024-2033
It will grow from $4.24 billion in 2023 to $4.98 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%.” - The Business Research Company
LONDON, GREATER LONDON, UK, September 11, 2024 /EINPresswire / -- The global non-dairy yogurt market has experienced rapid growth, expanding from $4.24 billion in 2023 to $4.98 billion in 2024, driven by a robust compound annual growth rate (CAGR) of 17.6%. Despite past challenges, the market is anticipated to continue its upward trajectory, reaching $9.14 billion by 2028 at a CAGR of 16.4%. This growth is primarily fueled by rising demand for dairy-free alternatives, increasing awareness about lactose intolerance, and the expanding popularity of plant-based diets.
High Lactose Intolerant Consumers Driving Non-Dairy Yogurt Market
The significant rise in lactose-intolerant consumers is a key driver of the non-dairy yogurt market. Lactose intolerance affects the body's ability to digest lactose, a sugar found in dairy products. With approximately 30 million American adults suffering from this condition by the age of 20, non-dairy yogurt offers a valuable alternative. This segment is appealing due to its high protein and calcium content, which supports immune function. As more people seek lactose-free options, the demand for non-dairy yogurt is expected to grow substantially.
Explore comprehensive insights into the global non-dairy yogurt market with a detailed sample report:
Major Companies and Market Innovations
Key players in the non-dairy yogurt market include The Hain Celestial Group Inc., Danone S.A., General Mills Inc., and Stonyfield Farm Inc. These companies are driving innovation with new product developments tailored to health-conscious consumers. For instance, in February 2022, Plant & Co launched a new dairy-free yogurt range called Yoat, made from oat and coconut bases in various flavors. Such innovations reflect the industry's commitment to meeting the evolving preferences and dietary needs of consumers.
Market Trends Shaping the Industry
Several major trends are influencing the non-dairy yogurt market:
.Innovations and Developments: Continued advancements in plant-based products, including protein-enriched and low-sugar varieties.
.Packaging Innovations: New packaging solutions that enhance convenience and sustainability.
.Organic and Clean Label Formulas: Growing emphasis on natural and minimally processed ingredients.
These trends underscore a shift towards healthier, more sustainable product options and are expected to drive further market growth.
Market Segmentation
The non-dairy yogurt market is segmented as follows:
.Product Type: Soy Yogurt, Almond Yogurt, Coconut Yogurt, Oats Yogurt, Rice Yogurt, Pea Yogurt
.Form: Drinkable Yogurt, Spoonable Yogurt
.Distribution Channel: Supermarkets, Online Stores, Convenience Stores
These segments highlight the diverse offerings available to consumers and the various ways in which non-dairy yogurt is distributed.
Regional Insights: Western Europe Leading The Market
Western Europe was the largest market for non-dairy yogurt in 2023. However, Asia-Pacific is anticipated to emerge as the fastest-growing region during the forecast period. This shift is driven by increasing consumer interest in plant-based diets and the expanding availability of non-dairy yogurt products in emerging economies.
Access the complete report for an in-depth analysis of the global non-dairy yogurt market:
Non-Dairy Yogurt Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Non-Dairy Yogurt Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on non-dairy yogurt market size, non-dairy yogurt market drivers and trends, non-dairy yogurt market major players, non-dairy yogurt competitors' revenues, non-dairy yogurt market positioning, and non-dairy yogurt market growth across geographies. The non-dairy yogurt market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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