Non-Dairy Yogurt Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMFB2624 | Last Updated On: Sep 27 2022 | Available Formats

> Global Non-Dairy Yogurt Market Expected to reach a high CAGR of 19.1% By 2029: DataM Intelligence

Global Non-Dairy Yogurt Market is segmented By Type (Soy Yogurt, Almond Yogurt, Coconut Yogurt, Oats Yogurt, Rice Yogurt, Pea Yogurt, Others), By Flavor (Plain/ Unflavored, Flavored), By Packaging Type (Tubs, Pouches, Others), By Application (Frozen Desser, Beverages, Food, Household, Others), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Store, Online Stores, Others), By Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[150 Pages Report] The Global Non-Dairy Yogurt Market is expected to grow at a CAGR of 19.1% during the forecasting period (2022-2029). 

Non-Dairy Yogurt Market - Strategic Insights

Metrics

Details

Market CAGR

19.1%

Segments Covered

By Type, By Flavor, By Packaging Type, By Application, By Distribution Channel and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Non-dairy yogurt has found myriad health advantages including a decrease in inflammation, loss of weight, and bringing marked improvement in body metabolism of humans. Moreover, the product also helps in absorbing the minerals. With humungous demand for healthy diet, it is more likely that the sales of non-dairy yogurt will increase over the forthcoming years. Furthermore, low intake of lactose and other dairy-based products has culminated into humungous popularity of non-dairy items such as non-dairy yoghurt in the recent years.

Market Dynamics

High prevalence of lactose intolerance in major developed and developing countries

High prevalence of lactose intolerance in major developed and developing countries, rising health consciousness among consumers and growing consumer preference for a vegan diet are the factors driving the growth of the non- dairy yogurt market. According to the study published by National Institute of Health in 2019, approximately 65% of the global population is lactose intolerant and the study of Food Allergy Research & Education in 2019 says, about 2.5% of children below the age of three are allergic to milk. Thus, there is a growing demand for non-dairy yogurt as it is lactose free.

Currently, the trend of exotic and novel flavors is rising rapidly in the food and beverages market. Manufacturers are introducing savory and plant-based yogurts such as squash, carrot and beet. In addition, such plant-based yogurts are filled with protein, attracting the millennial generation. Thus, it creates a positive scenario among consumers in the non-dairy market.

However, fluctuations in the price of raw material and high manufacturing costs are the factors restraining the growth of the non- dairy yogurt market.  

Market Segmentation

Soy yogurt is expected to dominate the global non-dairy yogurt market in the year 2020

Soy yogurt is expected to dominate the global non-dairy yogurt market with revenue share of around 47% in the year 2020. It is expected to grow at an approximate CAGR of 20.2% during the forecast period owing to the fact that soy-based yogurt helps to reduce cholesterol and blood sugar levels in the body. Moreover, these seed-based yogurts are an excellent source of protein when compared to dairy-based yogurt. These benefits are promoting the demand for soy-based vegan products, thereby driving the market.

Moreover, rice yogurt is anticipated to have immense potential over the forecast period. The product has been gaining popularity among customers as rice milk is considered to be the least allergenic milk amongst all the dairy milk alternatives. Moreover, rice milk is fortified with Vitamin A, Vitamin D, and calcium, which fulfill the requirement of nutrients. In addition, rice-based yogurt is naturally sweet as compared to other nut-based yogurts in which sugar is added for bacteria culture.

Geographical Penetration

Asia Pacific is expected to be the fastest growing region and would contribute the growth of Non-yogurt market

Asia Pacific held the largest share with XX% in 2020. The growth in this segment is owing to the factors such as growing demand for plant-based foods among customers, and rise in the disposable income of individuals. According to the National Institutes of Health, 80% of both Asian and African people have lactose intolerance. Owing to the rise in number of lactose intolerance cases, consumers are looking out for lactose free dairy products for daily consumption. Moreover, strong visibility of soy yogurt in countries such as Japan owing to increased awareness about gluten-free products on a domestic level is projected to remain an influential force in the upcoming years. Hence, Asia-Pacific non-dairy yogurt market is expected to grow during the forecast period.

Competitive Landscape

The global non-dairy yogurt market is fragmented in nature with the presence of many formulators. Coconut Grove Yogurt, Yoso, The Whitewave Foods Company, The Hain Celestial Group Inc., General Mills, COYO, Crunch Culture, Hudson River Foods, Chobani, LLC and Kite Hill are few major players of the market among others. Emphasis is given on the expansion, merger, acquisition and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. For instance, in January 2020, the Coca-Cola Company acquired all the remaining stake in Fairlife LLC from its joint venture partner Select Milk Producers to meet the fast-changing demands of consumers for lactose-free products. In December 2019, General Mills Inc. launched a dairy-free product line of french-style yogurt under its Oui brand. 

COVID-19 Impact: Pandemic had a positive impact on global Non-Dairy Yogurt market

COVID-19 has created a panic situation among consumers with temporary closures of retail stores in an attempt to limit the impact of the virus. This has led to panic purchasing among the consumers and the stockpiling of food products with a long shelf life, such as non-dairy yogurt. In the current scenario, the demand for non-dairy yogurts is gaining a significant boost from governments giving the order that only supermarkets and formally registered markets should remain open so that consumers' daily necessities can be easily accessed.

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