The global non-dairy yogurt market size will grow by USD 1.53 billion during 2019-2023. This market report provides a detailed analysis of the market by product (almond-based, soy-based, coconut-based, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several vendors in the vegan yogurt market, including Blue Diamond Growers, COYO Pty Ltd., Danone SA, Dean Foods Co., and The Hain Celestial Group Inc.
Key Insights on Non-dairy Yogurt Market - Global Forecast 2019-2023
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Industry Overview
Rising innovations in product formulation have been identified as critical non-dairy yogurt market trends. Market vendors are focusing on formulating new non-dairy yogurt products by blending various combinations of plant-based and nut-based milk. For instance, Forager Project offers plant-based yogurt alternatives under its Cashewgurt brand that are made by blending ingredients, such as cashew milk, coconut milk, and coconut cream with cane sugar, fruits, and tapioca starch. Market vendors are also using a wide variety of flavor additives and ingredients, including acai, jackfruit, cranberry, blackberry, elderberry, blueberry, pear, fig, kale, oats, and hemp to produce innovative non-dairy yogurt products. For instance, almond milk-based non-dairy yogurt offered by Blue Diamond under the brand Almond Breeze is made from ingredients, such as sea salt caramel, oat clusters, vanilla, pretzels, chocolate chips, granola, honey roasted almonds, and blueberry almonds. Such innovations in product formulation are expected to boost the popularity of non-dairy yogurt during the next five years.
According to the non-dairy yogurt market forecast report, increasing awareness about the health benefits of non-dairy yogurt products will also drive the growth of the market. The long-term consumption of milk and dairy products may increase the chances of prostate cancer, heart disease, and artery-related ailments. With increasing awareness about the adverse impacts of artificial sugar and dairy products among consumers, the demand for non-dairy yogurt products made from plant-based and non-GMO ingredients will also grow. The consumption of non-dairy yogurt products helps in weight loss, minimizing the risk of antibiotic-associated diarrhea, improving digestive health, and boosting immunity. Plant-based non-dairy yogurt also helps in regulating blood sugar and cholesterol levels and fat burning. These factors will fuel the demand non-dairy yogurt products and drive the growth of the market at a CAGR of 17% during the forecast period.
Top Companies in Non-dairy Yogurt Market
The global market is fragmented. To help clients improve their market position, this vegan yogurt market report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this non-dairy yogurt market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.
The report offers a detailed analysis of several leading non-dairy yogurt manufacturers, including:
- Blue Diamond Growers
- COYO Pty Ltd.
- Danone SA
- Dean Foods Co.
- The Hain Celestial Group Inc.
Market Segmentation
Non-dairy Yogurt Market by Product
- Almond-based
- Soy-based
- Coconut-based
- Others
The almond-based yogurt segment will account for the highest non-dairy yogurt market share. The rising penetration of organized retailing outlets offering almond-based non-dairy yogurt of multiple brands will boost the growth of the market in this segment. This vegan yogurt market report provides an accurate prediction of the contribution of all the segments to the growth of the non-dairy yogurt market size.
Non-dairy Yogurt Market by Region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that APAC will account for the highest share of the non-dairy yogurt market throughout the forecast period. Factors such as the rising consumption of convenience foods, the availability of a diverse range of products, and the rising adoption of a vegan lifestyle will contribute to the non-dairy yogurt market growth in this region.
Major Highlights of the Non-Dairy Yogurt Market - Global Forecast 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the vegan yogurt market during the next five years
- Precise estimation of the global non-dairy yogurt market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the non-dairy yogurt industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of non-dairy yogurt companies
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