Download Sample, The World Is Adopting the New Vegan Trend Owing to The Health Benefits
A growing vegan culture and the need for plant-based yogurt to replace dairy products are driving the expansion of market. Due to the growing concern for the environment, plant-based yogurt has a huge market potential. The environment and the health benefits of plant-based protein are also gaining traction across the globe. Furthermore, the expanding lactose-intolerant population, especially in the European and Asian regions, as well as growing expenditure on plant-based products such as hemp milk-based yogurts or flax seed yogurt, are driving vegan yogurt market growth. Vegan yogurts with live probiotics and cultures give the same digestive benefits as dairy-based yogurts; in certain cases, vegan yogurts offer nutrients that dairy-based yogurts fail to provide. For example, flax milk yogurt and hemp yogurt are high in omega-3 fatty acids and fibre.
Attributed to the increasing use of almonds in the production of various vegan products, the almonds category is anticipated to have the largest revenue share. The easy availability of almonds, as well as consumer awareness of the nutritious benefits of almond milk, pave the way for the expansion of almond-based yoghurt in the vegan market. Furthermore, the almond segment's market revenue is driven by its low-calorie content and better acceptance than any other nut. The supermarkets/hypermarkets category is anticipated to have the greatest market revenue share. Supermarkets provide a wide range of products and allow consumers to choose from various of product varieties, making them a highly convenient place to purchase. Furthermore, the ability to buy in bulk and raise awareness about a new brand or product launch all under one roof fuels the expansion of the supermarkets/hypermarkets industry. These consumer patterns are expected to maintain this distribution channel's dominance during the forecast period.
Attributed to the increasing use of almonds in the production of various vegan products, the almonds category is anticipated to have the largest revenue share. The easy availability of almonds, as well as consumer awareness of the nutritious benefits of almond milk, pave the way for the expansion of almond-based yoghurt in the vegan market. Furthermore, the almond segment's market revenue is driven by its low-calorie content and better acceptance than any other nut. The supermarkets/hypermarkets category is anticipated to have the greatest market revenue share. Supermarkets provide a wide range of products and allow consumers to choose from various of product varieties, making them a highly convenient place to purchase. Furthermore, the ability to buy in bulk and raise awareness about a new brand or product launch all under one roof fuels the expansion of the supermarkets/hypermarkets industry. These consumer patterns are expected to maintain this distribution channel's dominance during the forecast period.
Consumers' Increasing Veganism Will Drive Market Growth
The plant-based products industry is flourishing due to the increasing demand for dairy-free foods and beverages around the globe. Veganism now looks to be part of a rising social movement concerned about animal welfare, animal rights, and sustainability, rather than just a dietary choice. Only 0.5% of the US population, or 1.62 million people, are vegan. Furthermore, developed regions such as the United States, Asia Pacific, and the United Kingdom have adopted the vegan lifestyle. As a result, Indian firms such as Epigamia and Axia Foods are investing in the development of coconut yogurt, further capturing the attention of consumers across the region. Furthermore, food scientists believe that a vegan diet may be useful as a functional nutritional therapy in the treatment of metabolic syndrome-related conditions such as cardiovascular disease, obesity, and diabetes, as well as in the prevention of inflammatory diseases. Consumers' sudden shift in diet towards vegan food increases demand for new flavours in the yogurt category, such as fruit-flavored yogurts. Such advances in product launches with a variety of exciting flavours have emerged as one of the primary trends attracting a large number of consumers to plant-based yogurt and will help the industry thrive in the coming years.
Recent Trends in the Vegan Yoghurt Industry:
- The industry is expanding with diverse plant sources like coconut, almond, and chickpeas.
- The inclusion of probiotics and live cultures in vegan yogurts meets health-focused consumer demands.
- Manufacturers enhance vegan yogurt's nutrition with added vitamins, minerals, protein, and fiber.
- A growing trend sees consumers favouring clean-label products with simple, transparent ingredients.
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Rising Costs and Poor Manufacturing Practises Are Limiting Growth Potential
Vegan products, especially yogurt, ice cream, and dairy-related items, require a temperature-controlled environment to be of high quality. However, many African and Asian distributors and suppliers do not have access to low-cost, temperature-controlled transportation systems in their domestic markets. Furthermore, the high cost of vegan yogurt products is a barrier to market expansion in developing and underdeveloped nations. As a result, these restrictions often make it difficult for market participants to expand between states and showcase their goods in retail stores.
Moreover, the supply chain for plant-based ingredients is typically not as strong as the one for dairy products, resulting in possible variations and lack of availability. Finding top-notch, eco-friendly ingredients is also a challenge. Some consumers may be put off by nutritional issues, especially concerning protein levels and the inclusion of added sugars or artificial ingredients. Additionally, replicating the taste and texture of traditional yoghurt remains problematic, with many finding vegan alternatives lacking. Moreover, while vegan yogurt is marketed as eco-friendly, some plant-based ingredients, like almonds, pose their own environmental issues, such as excessive water use, impacting overall sustainability perceptions.
Moreover, the supply chain for plant-based ingredients is typically not as strong as the one for dairy products, resulting in possible variations and lack of availability. Finding top-notch, eco-friendly ingredients is also a challenge. Some consumers may be put off by nutritional issues, especially concerning protein levels and the inclusion of added sugars or artificial ingredients. Additionally, replicating the taste and texture of traditional yoghurt remains problematic, with many finding vegan alternatives lacking. Moreover, while vegan yogurt is marketed as eco-friendly, some plant-based ingredients, like almonds, pose their own environmental issues, such as excessive water use, impacting overall sustainability perceptions.
Innovative Dairy-Free Yogurts Lead Market Trends with High Protein and Unique Ingredients
Major industry leaders utilize strategies that focus on launching new products, merging with competitors, and purchasing companies to grow their customer base and enhance their range of products. In July 2024, The Coconut Collab, a British innovator in dairy-free products, introduced a new high-protein yogurt, “Protein Yog.” This development, four years in the making, blends coconut cream with almond and soy proteins to deliver a creamy, smooth taste with 10g of protein per serving. Available at Tesco and Ocado, this launch reflects a broader trend toward enhancing plant-based dairy options. Ripple Foods and Califia Farms have also recently expanded their offerings, highlighting a rising consumer demand for protein-enriched vegan alternatives.
However, in December 2023, Chicago-based startup Nature’s Fynd will launch what it claims as the world’s first fungi-based yogurts, debuting at Whole Foods stores nationwide. This innovative product, featuring flavours like vanilla, strawberry, and peach, uses Fy protein derived from a unique fungal strain originally researched for NASA. Containing 8g of protein, 8-9g of sugar, and 4g of fiber per serving, these yogurts present a competition to conventional dairy-free choices. The fermentation process used by Nature’s Fynd is very effective and eco-friendly, leading to substantial reductions in land, water, and greenhouse gas usage in comparison to beef.
However, in December 2023, Chicago-based startup Nature’s Fynd will launch what it claims as the world’s first fungi-based yogurts, debuting at Whole Foods stores nationwide. This innovative product, featuring flavours like vanilla, strawberry, and peach, uses Fy protein derived from a unique fungal strain originally researched for NASA. Containing 8g of protein, 8-9g of sugar, and 4g of fiber per serving, these yogurts present a competition to conventional dairy-free choices. The fermentation process used by Nature’s Fynd is very effective and eco-friendly, leading to substantial reductions in land, water, and greenhouse gas usage in comparison to beef.
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Increasing Awareness About Dairy Substitutes Leads to Market Expansion
The Asia Pacific region holds the largest revenue share of the global vegan yogurt market. Factors such as rapidly increasing population, more cases of lactose intolerance, and rising disposable income all contribute to the potential for growth. Furthermore, concerns about calorie intake and health conditions such as obesity or hypercholesterolemia lead consumers to shift to vegan products, which aids in the expansion of the vegan yogurt market revenue. Customers who understand the nutritional benefits of dairy substitutes have already shifted to the emerging vegan lifestyle. The demand for vegan products has increased as more people in North America are becoming aware of the abundance of dairy replacements available. Consumers in the region are concerned about food security and reducing the risk of disease, which is boosting demand for vegan products such as yogurt. The population in Europe is focused purely on consuming innovative, eco-friendly, or sustainable items, which is responsible for the region's profit for vegan yogurt.
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The report provides a detailed overview of the vegan yogurt market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for vegan yogurt market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the vegan yogurt market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the vegan yoghurt market. Some key country and region included in the vegan yogurt market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Central America Countries, Caribbean Countries, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Philippines, Vietnam, Thailand, Bangladesh, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Ethiopia, Algeria, Israel, Iran, Iraq, Kenya, Rest of MEA |
Vegan Yogurt Market Research Report Covers In-depth Analysis on:
- Vegan yogurt market detailed segments and segment-wise market breakdown
- Vegan yogurt market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in vegan yogurt industry)
- Current, historical and forthcoming 10 years market valuation in terms of vegan yoghurt market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Vegan yogurt market demand analysis
- Vegan yogurt market pricing analysis over forecast period (by key segment and by region)
- Vegan yogurt market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in vegan yogurt market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in vegan yogurt market
- Vegan yogurt market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on vegan yoghurt market forecast by countries
- Mergers and acquisitions in vegan yogurt market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key factors driving the growth of the vegan yogurt market?
Key factors driving growth include increasing consumer awareness of health and sustainability, rising vegan and plant-based diets and innovative product offerings from leading brands.
What are the major challenges facing the vegan yogurt market?
Major challenges include high production costs, limited consumer awareness in some regions and competition from traditional dairy yogurt products.
What are the emerging trends in the vegan yogurt market?
Emerging trends include the development of new flavors and textures, increased use of probiotics and a focus on sustainable packaging and ingredient sourcing.
