Vegan yogurt market
Vegan Yogurt Market, By Application (Frozen dessert, Food, Beverages, Others), By Flavor (Vanilla, Strawberry, Mixed Berry, Raspberry, Peach, Others), By Product (Soy, Almond, Oats, Coconut, Others), By Distribution Channels (Offline (Supermarket, Hypermarket), Convenience Stores, Online Store), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)
- Dec 2022
- CMI5427
- 120 Pages
- Excel & Pdf
- Food and Beverages
Summary
The global vegan yogurt market was valued at US$ 2.58 Bn in 2022 and is expected to reach US$ 10.06 Bn exhibiting a CAGR of 18.5% during the forecast period 2023-2030.
Global Vegan Yogurt Market- Drivers
- Increasing prevalence of chronic conditions is positively influencing the sales of low-fat vegan cheese: Increasing prevalence of chronic conditions is positively influencing the sales of low-fat vegan cheese as it helps maintain the blood glucose levels and reduce the risks of obesity, stroke, cholesterol and cancer that can drive the market growth in upcoming years. For instance, in December 2020, a leading French yogurt company, Danone acquired a Colorado-based company, Whitewave Foods, for its plant-based food and drink manufacturing brands such as Alpro, so delicious, silk, and Vega. Growing number of lactose-intolerant individuals and extensive campaigns undertaken by celebrities and other public figures to encourage the adoption of a vegan diet are also boost the market growth in forecast period. Vegan yogurt means a finished product which is consisting of ingredients derived from plants that includes coconut, macadamia, almond, cashew, and others. For instance, in July 2020, an India-based startup Epigamia announced to launch dairy-free coconut milk yogurt especially to cater to the needs of Indian population.
Figure 1. Global Vegan Yogurt Market Value Share (%), By Region, 2022
Global Vegan Yogurt Market- Restraints
- High cost of product is one of the major restraining factors in the vegan yogurt market: High cost of product is one of the major restraining factors in the vegan yogurt market. As compared to animal by product, the vegan yogurt has an overpriced which can reduce the market in price sensitive countries such as India and China. The unpleasant taste of products as compared to traditional product which are made from animal by-products can restrain the market growth.
Vegan Yogurt Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2022: | US$ 2.58 Bn |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR: | 18.5% | 2030 Value Projection: | US$ 10.06 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
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, and Kite Hill. |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Global Vegan Yogurt Market- Trends
- Rising cautions about the medical advantages of vegan yogurt can boost the market growth in the worldwide. For instance, on April 29, 2021, the vegan food manufacturer company, Upton’s Naturals collaborate with Dot Foods which is the largest food industry redistributor in North America. The new relationship will increases the availability of the brands popular 100% vegan meat alternatives for distributors, restaurants, and foodservices customers across the countries. Additionally, in October 2020, the International Agency for Research on Cancer, part of the World Health organization, divided the utilization of red meat as probably oncogenic to humans. According to press news, it was concluded that consumption of processed meat causes colorectal cancer that can hampered the market growth.
- Furthermore, in June 2020, a vegan food manufacturer company, Beyond Meat announced to acquire a new production unit of vegan food manufacture in Enschede, the Netherlands for the expansion of their production capacity in Europe.
Figure 2. Global Vegan Yogurt Market Value Share (%), By Product Type, 2022
Global Vegan Yogurt Market- Competitive Section
Major players operating in the global vegan yogurt market include 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, and Kite Hill.
Recent Developments
- July 20, 2023, Blue Diamond Growers launched its USDA Partnerships for ClimateSmart Commodi4es Grant Program with its 3,000 grower-owners this week. The program is a major step in expanding the use of climate-smart prac4ces in almond orchards.
- 27 July 2023, Granarolo S.p.A. officially launches Granarolo Baby in China, A product acquiring vegan milk Market for 0 to 3 years old children
- July 2023, Oatly Expands Partnership With Deutsche Bahn to Bring Oatly Soft Serve to All Its Lounges Across Germany.
Table of Content
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Application
- Market Snippet, By Flavor
- Market Snippet, By Product
- Market Snippet, By Distribution Channels
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Increasing usage of vegan yogurt by health conscious people
- Rising demand for plant based product
- Restraints
- High cost of vegan products
- PEST Analysis
- PORTER’s Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trends
- Drivers
- Market Dynamics
- Global Vegan Yogurt Market- Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Global Vegan Yogurt Market, By Flavor, 2018-2030 (US$ Bn)
- Introduction
- Market Share Analysis, 2023, 2026, and 2030 (%)
- Y-o-Y Growth Analysis, 2023-2030
- Segment Trends
- Vanilla
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Strawberry
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Mixed Berry
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Raspberry
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Peach
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Introduction
- Global Vegan Yogurt Market, By Application, 2018-2030, (US$ Billion)
- Introduction
- Market Share Analysis, 2023, 2026, and 2030 (%)
- Y-o-Y Growth Analysis, 2023 – 2030
- Segment Trends
- Frozen Yogurt
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
- Food
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
- Beverages
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
- Other
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
- Introduction
- Global Vegan Yogurt Market, by product, 2018-2030, (US$ Billion)
- Introduction
- Market Share Analysis, 2023, 2026 and 2030 (%)
- Y-o-Y Growth Analysis, 2023 – 2030
- Segment Trends
- Soy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
- Almond
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
- Oats
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
- Coconut
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
- Other
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
- Introduction
- Global Vegan Yogurt Market, By Distribution Channels, 2018-2030 (US$ Bn)
- Introduction
- Market Share Analysis, 2023, 2026, and 2030(%)
- Y-o-Y Growth Analysis, 2023-2030
- Segment Trends
- Offline
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Supermarket
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Hypermarket
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Convenience Store
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Online
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Bn)
- Introduction
- Global Vegan Yogurt Market, By Region, 2018-2030, (US$ Billion)
- Introduction
- Market Share Analysis, By Country, 2023, 2026 and 2030 (%)
- Y-o-Y Growth Analysis, For Country 2023–2030
- Country Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030,(US$ Bn)
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030,(US$ Bn)
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030,(US$ Bn)
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030,(US$ Bn)
- Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030,(US$ Bn)
- Rest of World
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030,(US$ Bn)
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- Barambah Organics Pty Ltd.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Blue Diamond Growers
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Daiya Foods Inc.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Dean Foods
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- General Mills Inc.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Granarolo S.P.A.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- The Hain Celestial Group Inc.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Vitasoy
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- White Wave Foods
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Danone S.A.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Oatly A.B.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Forager Project
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Coyo Pty Ltd.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Chobani Global Holdings
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Kite Hills
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Barambah Organics Pty Ltd.
- Section
- References
- Research Methodology
- About Us and Sales Contact
*Browse 24 market data tables and 28 figures on "Global Vegan Yogurt Market” - Global forecast to 2030
Segmentation
Vegan Yogurt Market Detailed Segmentation:
- By Application
- Frozen Dessert
- Food
- Beverages
- Others
- By Flavor
- Vanilla
- Strawberry
- Mixed Berry
- Raspberry
- Peach
- Others
- By Product
- Soy
- Almond
- Oats
- Coconut
- Others
- By Distribution Channels
- Offline
- Supermarket
- Hypermarket
- Convenience Stores
- Online
- Offline
- By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Frequently Asked Questions -
What is the current market size and compound annual growth rate (CAGR) of the market during the forecast period (2023-2030)?
The global vegan yogurt market was valued at US$ 2.58 billion in 2022 and is expected to grow at a CAGR of 18.5%.
What are the major factors driving the market growth?
Increasing the number of vegan population across the globe is expected to drive the market.
Which is the leading product segment in the market?
The Almond segment is the leading component segment in the market.
What are the key factors hampering growth of the market?
High cost of product is expected to hampering the market.
Which are the major players operating in the market?
Major players operating in the market include 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, and Kite Hill.