IMARC Group's report titled "Vegan Yogurt Market Report by Source (Almond, Soy, Coconut, and Others), Flavor (Vanilla, Strawberry, Mixed Berry, Raspberry, Peach, and Others), Application (Frozen Dessert, Food, Beverages, and Others), Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online Stores, and Others), and Region 2024-2032". The global vegan yogurt market size reached US$ 2.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.0 Billion by 2032, exhibiting a growth rate (CAGR) of 15.3% during 2024-2032.
Factors Affecting the Growth of the Vegan Yogurt Industry:
- Increasing Health Consciousness:
The rising popularity of plant-based eating and growing knowledge of health benefits are propelling the expansion of the vegan yogurt industry. This alternative to traditional yogurt, crafted from ingredients such as nuts, seeds, and grains, offers a wholesome option rich in essential nutrients and proteins, while being gentle on the digestive system. As a result, it has become a go-to choice for individuals with dietary limitations or those seeking to enhance their overall wellness. As consumers increasingly prioritize healthy living and nutrition, the demand for vegan yogurt is expected to surge.
- Ethical Concerns:
The increasing awareness of animal rights and environmental conservation is a significant driver of the growth in the vegan yogurt market. As individuals become more conscious of their ethical, they are choosing plant-based options to reduce their environmental impact. Compared to conventional dairy items, the production of vegan yogurt typically utilizes fewer natural resources and results in lower emissions. This makes it an appealing option for eco-conscious consumers who prioritize their values when making purchases. Moreover, the compassionate nature of vegan products appeals to those who oppose animal exploitation in the food sector. With mounting concerns about these issues, there is a high probability that more consumers will adopt vegan yogurt, leading to market expansion.
- Innovations and Flavor Varieties:
Advancements in product development and the introduction of a diverse range of flavors are fueling the expansion of the vegan yogurt market. Manufacturers are consistently exploring various plant bases and fermentation techniques to improve the flavor, texture, and nutritional profile of vegan yogurt. The wide array of flavors available, including both traditional favorites like vanilla and strawberry as well as more unique options such as mango, passionfruit, and matcha, are helping to drive innovation and growth in product offerings.
Leading Companies Operating in the Global Vegan Yogurt Industry:
- 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)
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/vegan-yogurt-market/requestsample
Vegan Yogurt Market Report Segmentation:
By Source:
- Almond
- Soy
- Coconut
- Others
Soy represent the leading segment as it offers a high protein content, similar to that of dairy yogurt.
By Flavor:
- Vanilla
- Strawberry
- Mixed Berry
- Raspberry
- Peach
- Others
Based on the flavor, the market has been divided into as it offers a high protein content, similar to that of dairy yogurt.
By Application:
- Frozen Dessert
- Food
- Beverages
- Others
Based on the application, the market has been segmented into frozen dessert, food, beverages, and others.
By Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Online Stores
- Others
Hypermarkets and supermarkets dominate the market as they offer a wide variety of choices, making it convenient for consumers to compare.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Global Vegan Yogurt Market Trends:
Manufacturers are continuously working to enhance the taste, texture, and nutritional value of plant-based yogurt options. They do this by testing various ingredients such as almond, soy, coconut, and oats, as well as by introducing different flavors and beneficial components. The range of vegan yogurt products is growing, with them now being sold in more locations such as grocery stores, specialty stores, online platforms, and restaurants. This broader availability is driving market growth by making these products accessible to a wider of consumers. Additionally, the support of vegan lifestyles and products, including yogurt, by celebrities and influencers on social media is influencing consumer perceptions and motivating younger generations to adopt vegan alternatives.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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