Sales of Vegan Yogurt are Projected to Grow at 4.8% CAGR through 2028

The Fact.MR report tracks the vegan yogurt market for the period 2018-2027. According to the report, the sales of vegan yogurt are projected to grow at 4.8% CAGR through 2028. The market survey of vegan yogurt also focuses on strategies used by leading vendors to improve sales.

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The sales of the vegan yogurt market are expected to continue their bullish run, driven by a combination of macroeconomic and industry-specific factors. Gains have been driven by vegan yogurt’s availability in a variety of flavors, and the ubiquitous health and wellness trend. These factors helped vegan yogurt sales increase by over 30,000 metric tons in 2018 over 2017, according to a recent analysis by Fact.MR.

The Fact.MR study opines that almond yogurt remains the bestseller, accounting for more than half of total vegan yogurt sales in 2018. The trend is expected to prevail as vegan yogurt companies continue to introduce new almond-milk based yogurt products to meet consumers’ taste preferences while enhancing the vegan yogurt’s nutritional value.

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The adoption of veganism by famous celebrities and athletes has also added to the cause. Coupled with the endorsement from renowned health institutions and its potential cancer-preventing benefits, vegan products have garnered widespread popularity around the globe.

Households Account for 80% Consumption of Vegan Yogurt
Fact.MR finds that over 80% of vegan yogurt is consumed in households. Further, the compact packaging of vegan yogurt allows the consumer to eat it on-the-go, making it an attractive snacking option for busy consumers.

The use of vegan products in food chains and restaurants is gradually gaining traction; the study found moderate growth in the utilization of vegan yogurt and products in the food service industry. Although households dominate overall consumption, demand for vegan yogurt from households and HORECA is growing at comparable rates.

Companies Look Towards Vegan Yogurt As ‘Mindful Choices’ Trend Drives the Food Industry
Companies in the food processing and production industry are looking to capitalize on the ‘mindful choices’ trend. On account of the popularity of the trend, multiple small and large companies are launching new vegan products to consolidate their position. The fierce competition induced in the market as a result of the growing demand for vegan products is expected to lower pricing and encourage innovations in the field.

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Numerous researches have linked serious health risks with the consumption of dairy products in the recent past. Increasing awareness about the potential side effects of dairy products is inducing a shift towards vegan products. This is also providing an impetus to the growth of vegan yogurt market. The opportunities emerging in this sector are not lost on F&B companies who are introducing more vegan products to capitalize on the situation.

Quick and Easy Ingredient Procurement a Boon for Companies
Vegan yogurts utilize soy, almond, coconut or other plant-based milk for production. These ingredients are easily available, saving processors the volatilities associated with other ingredients. Moreover, the use of plant-based milk for the production of yogurt does not entail the rearing of cattle which has led to a lot of controversies in recent times.

The study opines that the Asia Pacific excluding Japan (APEJ) will remain the largest market for vegan yogurt globally. The market for vegan yogurts in APEJ is likely to reach US$ 3.5 billion in revenues by 2019-end. The Asia Pacific is home to some of the most populous countries on the planet and the evolving consumer needs and preferences promise formidable growth prospects in the region.

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Vegan Yogurt Market – Additional Questions Answered
Apart from the aforementioned insights on vegan yogurt market, the report answers the following pivotal questions that stakeholders can use to expand their market presence in the global vegan yogurt market –

Which is the most lucrative sales channel for vegan yogurt market?
Based on end-use, which application will lead the vegan yogurt market in terms of revenue share?
What are the profound trends that influence the vegan yogurt market?
What are the key opportunities on offer in the vegan yogurt market?
What are the major challenges that manufacturers are likely to face in the vegan yogurt market?
Market Segmentation

Global Vegan Yogurt Market Historical Analysis 2013–2016 and Forecast 2017–2028, By Product Type

Soy Yogurt
Almond Yogurt
Coconut Yogurt

Global Vegan Yogurt Market Historical Analysis 2013–2016 and Forecast 2017–2028, By End Use

Household
HORECA

Global Vegan Yogurt Market Historical Analysis 2013–2016 and Forecast, by Sales Channel 2017–2028

Direct
Indirect
Modern Trade
Convenience Store
Specialty Store
E – Retailer

For More Insights

http://www.globenewswire.com/en/news-release/2019/04/08/1799130/0/en/OTC-Vitamins-and-Dietary-Supplements-Sales-to-Grow-by-6-6-in-2019-Fact-MR.html

Global Vegan Yogurt Market Historical Analysis 2013–2016 and Forecast, By Regions 2017–2028

North America
Western Europe
Eastern Europe
Latin America
Asia Pacific Excluding Japan
Japan
Middle East and Africa

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