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 surge in understanding the health advantages and a move towards plant-focused eating habits are propelling the expansion of the vegan yogurt industry. Vegan yogurt, crafted from ingredients such as almonds, coconuts, soy, oats, or cashews, offers a wholesome alternative rich in proteins, vitamins, and minerals while being low in cholesterol and lactose. As a result, it has become a favored option for individuals with dietary limitations or those seeking to enhance their well-being through nutritious consumption. With the rising emphasis on healthy diets and general wellness, there is an anticipated upsurge in demand for vegan yogurt.
- Ethical Concerns:
The growth of the vegan yogurt market is driven by increasing awareness of animal rights and environmental conservation. Consumers are choosing plant-based products to reduce their ecological footprint and align with their values. Vegan yogurt production is more sustainable and emits fewer greenhouse gases than traditional dairy, appealing to environmentally conscious consumers. The ethical principles of veganism also attract those who oppose animal exploitation in the food industry. As these concerns gain traction, the demand for vegan yogurt is expected to rise, leading to market growth.
- Innovations and Flavor Varieties:
Innovation in product development and the introduction of diverse flavors are propelling the expansion of the vegan yogurt industry. Manufacturers are constantly exploring various plant sources and fermentation techniques to improve the flavor, consistency, and nutritional profile of vegan yogurt. An extensive array of flavors, including classic selections like vanilla and strawberry as well as unconventional options such as mango, passionfruit, and matcha, are enriching the market with inventive products that are poised for sustained growth.
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 alternatives. This is accomplished through the exploration of various ingredients such as almond, soy, coconut, and oats, as well as the introduction of different flavors and functional additives. The range of vegan yogurt options is growing, with these products now being found in a wider array of locations including supermarkets, specialty stores, online platforms, and restaurants. This increased availability is driving market growth by making these products accessible to a more diverse consumer base. Additionally, the promotion of vegan lifestyles and products like yogurt by celebrities and social media influencers is influencing consumer perceptions and inspiring younger individuals to adopt plant-based choices.
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.
About Us:
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.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145