WASHINGTON, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The Non-Dairy Yogurt Market is valued at USD 2.8 Billion in 2022 and is expected to reach USD 7 Billion by 2030 at a CAGR of 14.1% over the forecast period 2023-2030.
The Non-Dairy Yogurt industry is expanding exponentially due to the growing vegan culture and the demand for plant-based yogurt to replace dairy products. Due to rising environmental concerns, the health advantages of plant-based protein, and the business potential for plant-based yogurt, which is expanding globally. Additional factors driving the growth of the vegan yogurt market include the rising number of people who are lactose intolerant, particularly in the European and Asian regions, and rising consumer spending on plant-based goods like flax seed yogurt or yogurts made with hemp milk.
There is ample market opportunity due to the rise in lactose intolerance, which affects about 20% of the world's population. As customers become more conscious of the adverse effects of dairy production on the environment, they are looking for plant-based substitutes. The popularity of vegan and vegetarian diets and a greater emphasis on health and well-being have also increased the demand for Non-Dairy Yogurt.
The report provides a thorough analysis of international producers and suppliers and their current situation and future prospects. It also details the global drivers of the demand for Non-Dairy Yogurt, including rising investment requirements, and developing technology.
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Market Overview
The market for Non-Dairy Yogurt has grown and changed significantly in recent years. Demand for Non-Dairy Yogurt has increased as customers become more health-conscious and aware of dietary limitations. The market is influenced by lactose intolerance, veganism, vegetarianism, and rising demand for plant-based substitutes. Various choices from plant-based components, including soy, almond, coconut, and oat milk, are available in the Non-Dairy Yogurt market, offering a creamy and tasty substitute for regular yogurt made with dairy.
The industry is represented by diverse players, including long-established dairy corporations expanding their product ranges and smaller, specialized brands concentrating entirely on non-dairy goods. The market environment is competitive, and businesses are working hard to differentiate themselves through new product development, distinctive flavors, and packaging. Consumers are increasingly looking for yogurt options made from natural and organic ingredients, devoid of artificial additives and preservatives, and there is a rising emphasis on clean-label products. The market is anticipated to maintain its growth trajectory and give consumers even more options to match their dietary preferences and health demands. This is because more Non-Dairy Yogurt products and more varieties of those products are available.
North America is the largest region in the Non-Dairy Yogurt Market, accounting for the most significant global market share. This is due to the growing interest in plant-based diets and the increasing consumer awareness about the health benefits of non-dairy products, such as soy, almond, and coconut yogurt. Many consumers are embracing Non-Dairy Yogurt as a healthier alternative to traditional dairy yogurt, which has led to a rise in demand for these products in North America.
Top Players in the Global Non-Dairy Yogurt Market
- The Hain Celestial Group Inc. (U.S.)
- Danone SA (France)
- Nestle SA (Switzerland)
- Chobani LLC (U.S.)
- Forager Project LLC (U.S.)
- Valio Ltd. (Finland)
- Stonyfield Farm Inc. (U.S.)
- Daiya Foods Inc. (Canada)
- Springfield Creamery Inc. (U.S.)
- The Coconut Collaborative (UK)
- COYO Pty Ltd. (Australia)
- GT's Living Foods LLC (U.S.)
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Market Dynamics
Rising Health Awareness to Drive the Market
People are becoming more aware of their eating choices and looking for healthier alternatives as personal well-being is given greater attention. With its alleged health advantages, such as being lactose-free, lower in saturated fats, and frequently fortified with important nutrients, Non-Dairy Yogurt is becoming increasingly well-liked as a healthy choice. Customers are actively looking for goods supporting their health objectives, whether related to gut health, weight control, or overall wellness. Non-Dairy Yogurt is in high demand due to rising health consciousness, which has prompted manufacturers to develop and offer a variety of alternatives that satisfy a range of dietary preferences and nutritional requirements.
Increased veganism and lactose intolerance among consumers to Promote Market Growth
The popularity of vegan and vegetarian diets has significantly increased the demand for Non-Dairy Yogurt. The incidence of lactose intolerance and dairy allergy has also raised the demand for Non-Dairy Yogurt. A significant percentage of the world's population suffers from lactose intolerance, which prompts people to look for dairy-free options like Non-Dairy Yogurt. More customers are actively choosing non-dairy products as they become more conscious of lactose sensitivity to avoid gastrointestinal pain and live a healthy lifestyle. Due to this shift in customer behavior, manufacturers of Non-Dairy Yogurt are responding with inventive plant-based substitutes that offer the same creamy texture and flavor as conventional yogurt but without lactose. The Non-Dairy Yogurt industry has expanded due to the market dynamics of rising lactose intolerance, and this trend is anticipated to continue as more people prioritize their digestive well-being and choose lactose-free options.
High price of plant-based products compared to traditional dairy products
Non-Dairy Yogurt has a high price tag for several reasons, including production costs, the sourcing of the ingredients, and the need for large-scale economies of scale; Non-Dairy Yogurt made from plant-based components like soy, almond, or coconut frequently has a higher price tag. Some consumers may need help to switch to non-dairy alternatives due to the price discrepancy. However, economies of scale and improvements in production methods may assist in cutting prices and closing the price differential as the market expands and demand rises. In addition, many consumers may excuse the greater cost of Non-Dairy Yogurt by citing purported health advantages and ethical issues, leading them to move despite the price difference.
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Top Trends in Global Non-Dairy Yogurt Market
- One trend that Vantage Market Research (VMR) expects to see in the Non-Dairy Yogurt industry is the increasing demand for luxury and artisanal Non-Dairy Yogurt options. These products usually emphasize authentic flavor, high-quality ingredients, and small-batch production procedures. Customers seeking a more unique and gourmet experience usually purchase artisanal Non-Dairy Yogurts at specialty stores.
- Another trend that VMR predicts will continue in the Non-Dairy Yogurt industry is probiotics, beneficial microorganisms that promote gut health and are added to Non-Dairy Yogurts more frequently. Manufacturers are adding specialized probiotic strains to their goods to enhance the health of the digestive tract. Consumer interest in overall well-being and the gut-brain axis is growing simultaneously with this pattern.
- Plant-based options and traditional ingredients like soy and almond are gaining popularity in the Non-Dairy Yogurt market. Manufacturers are increasingly looking into novel components like oats, coconuts, cashews, hemp, flax, and vegetables like sweet potatoes and pumpkin. Consumers can access more selections and flavors because of the range of plant-based alternatives.
Top Report Findings
- Based on Product Type, Soy Based yogurt dominates the market. Yogurts made from soy are an excellent source of protein compared to yogurts made from dairy, and they also aid in lowering cholesterol and managing blood sugar levels.
- Based on Type, Regular Non-Dairy Yogurt will dominate the market during the forecast period. Regular Non-Dairy Yogurt satisfies nutritional needs and tastes while providing consumers with the familiar flavor and texture of traditional yogurt as the demand for non-dairy substitutes rises. Regular Non-Dairy Yogurt offers a similar experience to dairy-based yogurt without the lactose or substances sourced from animals because of improvements in plant-based ingredients and manufacturing methods.
- Based on the Distribution channels, supermarkets dominate the market. The category dominates the market due to big companies increasing their investment in this segment. It is also a one-stop shopping experience, so there is a rising demand for convenience food items. The market is expanding due to the simple access to various flavors and reliability in supermarkets.
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Non-Dairy Yogurt Market Forecast Report (2023-2030).
The Soy-Based Non-Dairy Yogurt Segment Contributed the Highest Revenue Due to its Widespread Availability, Recognized Health Benefits, and Diverse Flavour Options
This Non-Dairy Yogurt market area includes Non-Dairy Yogurt items primarily produced using soy milk. The smooth, creamy texture of soy-based Non-Dairy Yogurts has helped them become more well-liked because it resembles typical dairy yogurt. Furthermore, soy-based alternatives frequently provide a good supply of protein and other elements. The significant revenue share of the segment demonstrates the significant customer demand for yogurts made from soy as a healthy and practical dairy substitute.
Regarding market dynamics, several reasons contribute to the dominance of the soy-based Non-Dairy Yogurt segment. Soy is one of the most accessible and commonly grown crops in the world, resulting in a consistent supply of soy milk for the manufacture of Non-Dairy Yogurt. Second, soy-based products have gained popularity due to their potential health advantages, which include supporting bone health and lowering cholesterol. As a result, Non-Dairy Yogurts made from soy are popular among consumers concerned about their health. Last but not least, soy's adaptability enables the development of various flavours and styles that appeal to various consumer preferences and increase the segment's selection.
Future projections indicate that the market for soy-based Non-Dairy Yogurt will continue to rise as customer demand for such products increases. It is important to remember that as other plant-based components like almond, coconut, and oat gain popularity, the market environment may change, providing additional options and undermining the soy-based industry's dominance. However, as of 2022, the Soy-Based Non-Dairy Yoghurt segment will continue to play a significant role in driving the Non-Dairy Yogurt market due to the high consumer acceptance and desire for this specific product category.
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Global Non-Dairy Yogurt Market Segmentation
By Product Type
- Almond yogurt
- Soy yogurt
- Coconut yogurt
- Oat yogurt
- Other Product Types
By Type
- Regular
- Flavoured
By Distribution Channel
- Supermarkets
- Online Stores
- Convenience Stores
- Other Distribution Channels
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 2.8 Billion |
| Revenue Forecast by 2030 | USD 7 Billion |
| CAGR | 14.1% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | The Hain Celestial Group Inc., Danone SA, Nestle SA, Chobani LLC, Forager Project LLC, Valio Ltd., Stonyfield Farm Inc., Daiya Foods Inc., Springfield Creamery Inc., The Coconut Collaborative, COYO Pty Ltd., GT's Living Foods LLC |
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- Global Non-dairy Yogurt Market Size to Reach $7 Billion at a CAGR of 14.1% by 2030: https://v-mr.biz/non-dairy-yogurt-market
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