The Global Vegan Yogurt Market was valued at US$ 2.58 billion, according to global vegan yogurt market Report, by Application (Frozen Dessert, Food, Beverages, and Others), by Flavor (Vanilla, Strawberry, mixed berry, Raspberry, Peach, and Others), by Product (Soy, Almonds, Oats, Coconut, and Others), by Distribution Channels (Offline [Hypermarket, Convenience Stores, and Supermarket] and Online), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) – published by Coherent Market Insights..
The global vegan yogurt market is expected to surpass US$ 10.06 billion by 2030 and exhibit a CAGR of 18.5% during the forecast period 2023-2030.
Vegan yogurt are made from milk derived from nuts, seeds, and grains. Nuts used to make the product include coconut, macadamia, hazelnuts, pistachios, pili, almond, and cashew. Seeds used in the making of vegan yogurt include soy, flax, and hemp, whereas grains include oats. So, manufactures do not depends on animal based products to make vegan yogurt. Vegan yogurt is consists of fat, minerals, protein, and vitamins. As a part of balance diet vegan yogurt is healthier than animal derived product. Nuts, soy, and oats are the main ingredient in vegan yogurt. It is also a good source of sodium as well as vitamins such as B1, B6, and B2 which are might be added some extra nutritional values in vegan yogurt. Vegan yogurt are lower in saturated fat and calories and higher in fiber which can help to balanced healthier diet. According to their properties, vegan yogurt is the best substitutes for an animal byproducts.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/vegan-yogurt-market-5427
Browse 50 market data tables* and 40 figures* on "Global Vegan Yogurt Market”- Global Forecast to 2030.
Global Vegan Yogurt Market: Drivers
- 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.
Key Trends and Analysis of the Global Vegan Yogurt Market:
- Among region, in 2021, North America and Europe was the largest vegan food market owing to increasing awareness among consumer’s and high income disposal. Vegan food market in emerging countries such as China and India is expected to grow at a rapid pace during the forecast period, due to increasing demand for functional food, desire for healthy & active lifestyle among the vegan population.
- The rapid shift towards vegan food and products is playing a key role in the growth of vegan yogurt market in the India. Moreover, increasing animal welfare and food processing concerns consumers are also boost the market growth in upcoming years. Now a day’s restaurants and fast food chains are offering vegan yogurt flavour such as vanilla, strawberry, mixed berry, raspberry, and others which helps to drive the market growth.
Key Takeaways of the Global Vegan Yogurt Market:
- Among Distribution channel, the offline segment held a dominant position in the global vegan yogurt market in 2021. The availability of various varieties and wide range of products in convenience stores, hypermarket and supermarket is anticipated to boost the market growth in upcoming years.
- For instance, in March 2022, a plant based product manufacturing company ‘AYO Foods LLC’ launched a new plant based yogurt range by developing a plain almond milk available in various flavors such as vanilla, strawberry, and others. The product is made from grown almonds so this fit in vegan or keto diet followers.
Global Vegan Yogurt Market - Impact of Coronavirus (COVID-19) Pandemic
Since March 2020, almost every industry in the world has suffered due to the COVID-19 pandemic. The demand for consumer goods in 2020 reduced significantly, which in turn, hampered growth of the vegan yogurt market. Furthermore, supply chain disruptions also reduced growth of the vegan yogurt market. Moreover, import and export activities reduced drastically due to stringent regulation policies.
COVID-19 is providing a boost to the vegan yogurt in globe. From manufacturing and distributing, this industry has faced lot of problems during the pandemic, unequalled demand from manufacturers as well as consumers, particularly for some products. However, the sale of vegan food such as yogurt has shown increase with the continuously dealing through e-commerce platform. Companies are investing more in the retail sector because of lockdowns and COVID outbreak.
