Press release
Non-Dairy Yogurt Market Profiled Key Players to Show Impressive Revenue Growth by 2032: Hain Celestial Group Inc., Danone SA, Nestlé SA, Chobani, LLC, Forager Project, LLC
Non-Dairy Yogurt Market
In contrast to its conventional counterpart, organic non-dairy yogurt would account for a third of global market value in 2022. This share is however expected to expand in the near future, attaining the market value of over US$ 3 Bn at the end of projection period. The demand for flavored non-dairy yogurt continues to rise owing to widespread availability and innovations in terms of taste.
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Introduction of novel diet categories, such as non-GMO, vegan, and gluten-free, has boosted consumer demand for dairy alternatives. Shifting consumer preferences have also prompted manufacturers to launch innovative and authentic flavors. Several animal welfare associations and non-government organizations are supporting the welfare of farm animals and working to spread awareness about the nutritional benefits of dairy-free diets
Key Takeaways - Non-Dairy Yogurt Market Study
• The demand for coconut yogurt will increase at a CAGR of ~5.8% during the forecast period (2022-2032).
• Demand for global soy non-dairy yogurt in global market roughly equates the value of US $ 2 Bn and will account for 2/5th share in total market revenue in the near future.
• Sales of non-dairy yogurt is foreseen to be higher in countries of South Asia and East Asia.
• Organic non-dairy yogurt is yet to enter the mainstream.
• Increasing demand for natural and organic plant-based food products among consumers resulted in the increased usage of non-dairy yogurt in the food and beverages industry.
• The population allergic to nuts and seeds may remain a longstanding penetration challenge facing non-dairy yogurt market players.
• Consumers' choices nowadays reflect healthy and cost-effective preferences along with social and moral values, where non-dairy yogurt offers ethical and environmentally-friendly products to these consumers.
Increasing incidences of lactose intolerance are translating into substantial demand for lactose-free, plant-based dairy products. These products that are witnessing high demand include soy yogurt, almond yogurt, coconut yogurt, oat yogurt, and rice yogurt.
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What Does Competitive Landscape Analysis Reveal?
Key manufacturers are focusing to increase expenditure for research and development activities to introduce innovative non-dairy yogurt flavors. These manufacturers are also strategizing for portfolio expansion and supply chain management to improve their foothold around the world. Plant-based dairy products as a concept are practically unfamiliar in rural areas and certain cities in developing countries, are signifying comparatively low growth prospects of the non-dairy yogurt market in many countries. This scenario is anticipated to change in the next coming years on the account of macro factors which includes Internet penetration, which has been prompting the unification of media and food culture.
Key Companies Profiled
• The Hain Celestial Group Inc.
• Danone SA
• Nestlé 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
Non-Dairy Yogurt Market Segmentation
Product:
• Soy Yogurt
• Almond Yogurt
• Coconut Yogurt
• Oats Yogurt
• Rice Yogurt
• Pea Yogurt
• Others
Nature:
• Organic
• Conventional
Form:
• Drinkable Yogurt
• Spoonable Yogurt
Flavor:
• Plain/Unflavored
• Flavored
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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