Plant-based products is trending and makers are capitalising this opportunity by offering various types of plant-based yogurts in the market available in different flavours to suit the consumers test. The plant-based yogurt is turning into a promising option as a substitute to dairy based yogurts and are anticipated to observe significantly higher demand in the coming years. Makers are focussing on product quality, developments, and consistent product accessibility. They are additionally joining forces with different retailers to make their products accessible over the world. The plant-based yoghurt market is expanding, with more types of yoghurt appearing, from low-fat to Greek, and with more convenient pack sizes becoming more commonplace
Plant Based Yogurt Market Driving Factors
- With the increasing popularity of plant-based products and the significant drawbacks of industrial animal agriculture, the manufacturers are investing in plant based yogurts. Derived from soy, almond, oats etc it is built around sustainability
- The growing incidences of health issues linked with dairy products, rising vegan and flexitarian populace, and increasing concern about animal welfare is leading to rise market prospects for plant-based yogurts.
- As indicated by Plant-based Food Association, in 2019 plant-based yogurts recorded maximum sales in U.S. than other plant-based products like milk, cheese, and butter etc.
- As per Forbes report, animal milk and dairy products sales are dropping rapidly with approximately 11% drop as anticipated in sales between 2015 and 2020.
- Vegan yogurt is lactose-free yogurt which is free of m
- Health experts are touting the many benefits of consuming cultured yogurt such as improving gut health and weight management. Aiding this is the introduction of new flavors in plant-based products. For instance, a U.S. based company, Yooga has introduced vegan yogurt in range of innovative flavors, including sea salt chocolate and turmeric golden milk. Such innovations enabling companies gain competitive advantage.
COVID 19 Impact on plant based yogurt market
The pandemic continues to expand. More than 175 countries and territories have reported cases of COVID-19, the disease caused by the coronavirus (SARS-CoV-2). In the view of current COVID 19 pandemic, the demand plant based products is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. Consumers see vegan and plant-based foods as healthier, and with more people becoming flexitarian Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is expected to increase the demand for plant-based nutrition products, which will have positive impact on plant based yogurt market.
Plant Based Yogurt Market Segmental Highlights
The report analyses the global Plant Based Yogurt market based on type, application, category, and geography
- Plant based yogurt are mainly sourced from soy milk, almond milk, rice milk and coconut milk etc. Almond milk hold the major market share as yogurt's minimum fat content increases its popularity among consumers. Besides, it also contributes in reducing bad cholesterol and improving immunity
- Plant based yogurt are available both in organic and conventional form. Organic plant based yogurt segment is anticipated to show growth at a higher rate as compared to conventional. The organic trend has become very popular in the food & beverages industry. Besides, the demand for organic food is very high in developed as well as in developing nations
- Plant based yogurts are available in number of flavours including vanilla, strawberry, mixed berry, raspberry, peach etc.
- The major distribution channel of plant based yogurt are hyper market/supermarket, convenience stores and online retail etc.
- The Plant Based Yogurt market is studied for the key regions including North America, Europe, Asia Pacific, and Rest of the World.
- North America and Europe continue to be the most lucrative markets for plant-based products in general and plant-based yogurt in particular. Also, the demand for dairy-free yogurt is especially among consumers seeking for health and nutritional benefits, vegan food and among lactose intolerance consumers.
- Asia Pacific is anticipated to witness a highest CAGR over the forecast period. The increasing popularity of plant based yogurt as an alternative option for dairy based yogurt, rising awareness and increasing disposable income is increasing the market growth.
Plant Based Yogurt Market Key Players
- Callifia
- Chobani
- Forager
- Good Plants
- Good Karma
- Kite Hill
- LAVVA
- Nancy’s
- Silk
- So Delicious
- General Mills Inc.
- The Hain Celestial Group Inc.
- Trader Joe’s
- Danone S.A.
- Valsoia S.p.A
- Granarolo S.p.A.
- Oatly AB
- COYO Pty Ltd.
- King International Operations Pty Ltd
The report analyses the global plant based yogurt market based on type, application, nature, distribution channel and geography. The plant based yogurt are sourced from various types of plant based milk including soy milk, almond milk, rice milk and coconut milk etc. Plant based yogurt are available both in organic and conventional form and are made present in in number of flavours including vanilla, strawberry, mixed berry, raspberry, peach etc. The Plant Based Yogurt market is studied for the key regions including North America, Europe, Asia Pacific, and Rest of the World.
Key competitors of this market includes Callifia, Chobani, Forager, Good Plants, Good Karma, Kite Hill, LAVVA, Nancy’s, Silk, So Delicious, General Mills Inc, The Hain Celestial Group Inc., Trader Joe’s, Danone S.A., Valsoia S.p.A, Granarolo S.p.A., Oatly AB, COYO Pty Ltd. and King International Operations Pty Ltd among others.
Why to buy this report:
- The report offers changing market dynamics in the plant based yogurt market, presenting historical, current and projected market size in terms of value (USD Million)
- The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of plant based yogurt market
- It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential and niche segments, and a neutral perspective on the plant based yogurt market performance
- The report also offers strategic recommendations in key business segments based on the market estimations and competitive landscape, mapping the key common trends of plant based yogurt market
