Plant-Based Yogurt Market Size, Trends, In-depth Analysis, Research Report Forecast up to 2028: Forager Project and Chobani are key players.

The plant-based yogurt market is expected to grow at a CAGR of 22.81% to reach a market size worth US$6,819.861 million by 2028.

One of the primary factors contributing to the growth of the market for plant-based yogurt is the shifting consumer trend towards vegan and vegetarian diets. In addition, rising incidences of lactose-related allergies also support the demand for plant-based yogurt during the forecast period. Moreover, rising disposable income, rapid urbanization, and growing health awareness drive the growth of the global plant-based yogurt market. However, the high cost and negative perception regarding the taste of plant-based yogurt are restricting the growth of the global market during the projection period.

The plant-based yogurt demand has been expanding due to the shifting consumer trend towards veganism and growing lactose intolerance cases.

Plant-based yogurt or plant-based cheese is a type of yogurt that is manufactured entirely from plant proteins. They are often produced using soy, oats, plantains, nuts like cashews and macadamias, and vegetable oils like coconut oil. Dietary limitations of health-conscious consumers and the growing popularity of veganism are key factors propelling the market's expansion. There has been a favorable trend toward veganism in various parts of the globe, projected to accelerate the use of plant-based yogurt. Moreover, rising lactose intolerance and other dairy-based allergies contributed to market growth during the analysis period. According to the European Plant-based Foods Association, around 70 percent of people worldwide have lactose intolerance.

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The global market for plant-based yogurt is segmented into Sales Channel, Flavour, End-Users, and Geography.

Based on the yogurt flavor, the market is categorized into Regular, Flavoured, and Sugar-Free. The flavored segment is expected to hold a significant market share among the abovementioned ones. Plant-based yogurt comes in various flavors, such as strawberry, mango, chocolate, etc. The rising demand for flavored yogurts by millennials is one of the key factors driving the growth of this segment. Therefore key market players are launching plant-based yogurts in several innovative flavors to capitalize on this growing trend.

The end user segmentation of the plant-based yogurt market includes Households and Foodservice. According to the analysis, the household segment is expected to have a significant market share during the forecasted period. The shift in consumer trends towards vegan and vegetarian diets, along with health conciseness among households, is driving the growth of this segment.

Based on the sales channel, the market for plant-based yogurt is categorized into Online and Offline. The offline segment is divided into Supermarket, Convenience Stores, and Speciality Stores sub-segments. The offline sales channel segment is expected to hold a significant market share among the abovementioned segments. The emergence of various vegan food products startups, grocery store brands, and vegan yogurts from key market players like Yoplait and Chobani is supporting the growth of this segment.

The plant-based yogurt market is divided geographically into North America, South America, the Middle East and Africa, Europe, and Asia Pacific. Out of all the geographical regions North American region is expected to have a significant market share in the global plant-based yogurt market. The demand for plant-based food products in North American countries is driven by a rising trend towards veganism and increased health consciousness among consumers. Moreover, the government's positive actions to support vegan products are anticipated to increase demand for plant-based yogurt in the region. This would contribute to market development. On the other hand, due to consumer health concerns and an increase in lactose intolerance, the United States is predicted to occupy a significant market share. Therefore, the plant-based yogurt market in North America is divided between these three countries: the US, Canada, and Mexico.

The major global plant-based yogurt market players are Lavva, Springfield Creamery Inc, Califia Farms, Forager Project, Chobani, Danone SA, Epigamia, Dean Foods, Kite Hill, and Yoplait.

This Plant-Based Yogurt Market has been analyzed into the following segments:

• By Sales Channel

o Offline

• Supermarket
• Convenience Stores
• Speciality Stores

o Online

• By Flavour

o Regular
o Flavored
o Sugar-free

• By End-Users

o Food Services
o Household

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• UK
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• Israel
• Others

o Asia Pacific

• Japan
• China
• India
• Indonesia
• Taiwan
• Thailand
• Others

Related Reports:

• https://www.knowledge-sourcing.com/report/frozen-dessert-market
• https://www.knowledge-sourcing.com/report/global-yogurt-market

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This release was published on openPR.