(MENAFN- PR Newswire)
REDDING, Calif., Nov. 28, 2024 /PRNewswire/ -- According to a new market research report titled,
'Vegan Yogurt Market
Size, Share, Forecast, & Trends Analysis by Product Type (Almond Yogurt, Soy Yogurt, Coconut Yogurt, Rice Milk Yogurt), Flavor (Chocolate, Banana, Mango), Distribution channel (Supermarket, Convenience Store)-Global Forecast to 2031. '
The vegan yogurt market is expected to reach $8.85 billion by 2031, at a CAGR of 16.5% from 2024 to 2031.
The vegan yogurt market is witnessing growth primarily due to the growing vegan population, growing awareness regarding health and well-being, the high prevalence of lactose intolerance, and increasing product innovation by various manufacturers. However, this market's growth is restrained by high product prices and the high preference for animal-based milk products.
Download FREE PDF Brochure Of Vegan Yogurt Market -
Additionally, increasing investments & government support for plant-based industries and emerging economies in Asia-Pacific and Latin America are anticipated to create substantial growth opportunities for the players operating in this market. Moreover, the rising adoption of clean-label products is a prominent trend in the vegan yogurt market.
Key Players:
The major market players studied in this report are Danone S.A. (France), Daiya Foods Inc. (Canada), General Mills Inc. (U.S.), Nancy's Probiotic Foods (U.S.), COYO Pty Ltd. (Australia), Chobani, LLC (U.S.), Kite Hill (U.S), The Hain Celestial Group Inc. (U.S.), Stonyfield Farm, Inc. (U.S.), Forager Project LLC (U.S.), KaTech Ingredient Solutions GmbH (Germany), Epigamia (India), and Oatly A.B. (Sweden).
The vegan yogurt market is segmented by product type (almond milk yogurt, soy milk yogurt, coconut milk yogurt, rice milk yogurt, and other milk yogurts), flavor (chocolate, strawberry, banana, pineapple, mango, lemonade, peach, and others), distribution channel (supermarkets/hypermarkets, convenience stores, specialty stores, online retail stores, and other distribution channels), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). This study evaluates industry competitors and analyzes the vegan yogurt market at the regional and country levels.
Vegan Yogurt Industry Overview: Latest Developments from Key Industry Players.
In July 2024, The Coconut Collab (U.K.) launched a high-protein vegan yogurt.
In July 2024, Müller Milk & Ingredients (U.K.) launched two coconut-based yogurt alternatives.
In March 2023, So Delicious Dairy Free (U.S.) launched a
new 0g Added Sugar Coconut milk Yogurt Alternative.
In July 2021, Alpro (Belgium) launched Vegan Oat and Coconut Greek Yogurts.
Get Insightful Data On Regions, Market Segments, Customer Landscape, And Top Companies (Charts, Tables, Figures And More) -
Key Findings in the Vegan Yogurt Market Study:
By product type, the almond milk yogurt segment is expected to register the highest CAGR during the forecast period. This segment's rapid growth is driven by the growing demand for lactose-free products, the rising adoption of GMO-free food products, the rising vegan population, the appealing flavor of almond milk yogurt, and growing awareness regarding the benefits of almond-based milk products.
By flavor, in 2024, the chocolate segment is expected to account for the largest share of the vegan yogurt market. The segment's large share is attributed to shifting consumer tastes and young adults' & children's strong fondness for chocolate-flavored yogurt. Customers are choosing chocolate-flavored yogurt because of its rich flavor and health benefits, contributing to the segment's large share.
Have Specific Research Needs? Request a Customized Research Report -
By distribution channel, the online retail stores segment is anticipated to record the highest CAGR during the forecast period. This segment's rapid growth is driven by the growth in online retail platforms, growing consumer preference for online shopping, the availability of a large variety of products with several flavors, the increasing presence of international companies on various online platforms, and attractive offers on products.
By geography, Asia-Pacific is poised to record the highest CAGR during the forecast period 2024–2031. The growth of this regional market is driven by several factors, including the increasing demand for vegan yogurt mainly due to growth in veganism, the increasing adherence to Western diets, growing access to cutting-edge product offerings, the growing market presence
of domestic and international producers, and rising disposable incomes allowing more people to spend on high-end health-related goods.
IMMEDIATE DELIVERY AVAILABLE | BUY THIS RESEARCH REPORT (Insights, Charts, Tables, Figures and More) -
Scope of the Report:
Vegan Yogurt Market
Assessment-by Product Type
Almond Milk Yogurt
Soy Milk Yogurt
Coconut Milk Yogurt
Rice Milk Yogurt
Other Milk Yogurts
Vegan Yogurt Market
Assessment-by
Flavor
Chocolate
Strawberry
Banana
Pineapple
Mango
Lemonade
Peach
Other Flavors
Vegan Yogurt Market Assessment-by Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Specialty Stores
Online Retail Stores
Other Distribution Channels
Vegan Yogurt Market Assessment-by Geography
North America
Europe
Germany
U.K.
Spain
Italy
France
Netherlands
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Indonesia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
Saudi Arabia
UAE
Rest of Middle East & Africa
Related Reports:
Plant-based Milk Market Size, Share, Forecast, & Trends Analysis by Type (Almond Milk, Soy Milk, Coconut Milk, Oat Milk, Rice Milk), Formulation (Flavored), Distribution Channel (B2B, B2C [Modern Groceries, Convenience Stores]) - Global Forecast to 2031 -
Europe Plant-based Food Market Size, Share, Forecast, & Trends Analysis by Type (Dairy Alternatives, Plant-based Meat, Egg Alternatives, Seafood), Source (Soy, Pea), Distribution Channel (B2B, B2C [Convenience Store, Online Retail]) - Forecast to 2031 -
Plant-based Meat Market Size, Share, Forecast, & Trends Analysis by Type (Tofu, TVP, Tempeh, Seitan, Meatballs, Burger Patties, Nuggets, Crumble, Shred), Source (Soy, Wheat, Pea), Distribution Channel (B2B, B2C {Convenience Store}) - Global Forecast to 2031 -
North America Plant-based Protein Market by Type (Soy Protein, Wheat Protein, Pea Protein), Crop Type (Non-GMO, GMO), Source Process (Conventional, Organic), and Application (Food and Beverages, Animal Feed, Nutritional Supplements) - Forecast to 2030 -
Europe Plant-based Protein Market by Type (Soy Protein, Wheat Protein, Pea Protein), Crop Type (Non-GMO, GMO), Source Process (Conventional, Organic), Application (Food and Beverages, Animal Feed, Nutritional Supplements) - Forecast to 2030 -
Dairy Alternatives Market Size, Share, Forecast, & Trends Analysis by Product Type (Plant-Based Milk, Cheese, Yogurt, Ice-cream), Source (Almond, Soy, Pea, Oat), Formulation (Unflavored, Flavored), Distribution Channel (B2B, B2C) - Global Forecast to 2031 -
Vegan Yogurt Market Research Summary
SOURCE Meticulous Market Research Pvt. Ltd.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE?
440k+