Non-Dairy Yogurt Market Size is Projected to Reach USD 5,908.01 Million and Recording a CAGR of 11.6% Till 2030 | The Insight Partners

The non-dairy yogurt market size was valued at US$ 2,458.17 million in 2022 and is expected to reach US$ 5,908.01 million by 2030; the market is expected to record a CAGR of 11.6% from 2022 to 2030. Non-dairy yogurt is a type of yogurt that is made without any dairy ingredients, such as milk or yogurt cultures derived from dairy. Instead, it is typically produced from plant-based sources like almond, coconut, soy, or cashew milk, and it often contains live bacterial cultures that provide a fermentation process similar to traditional dairy yogurt.

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The List of Companies - Non-Dairy Yogurt Market

The Hain Celestial Group Inc
Danone SA
Springfield Creamery Inc
Lyrical Foods Inc
COYO Pty Ltd
Valio Ltd
Oatly Group AB
Daiya Foods Inc
Forager Project LLC
Harmless Harvest Inc

The research conducted by Rakuten in 2021 showed that 87% of consumers in China had tried plant-based milk, 50% had tried other dairy substitutes, 42% had tried plant-based meat, and 32% had tried vegan egg replacements. Furthermore, the same research found that 3% of respondents only consume plant-based foods.

The global non-dairy yogurt market is categorized on the basis of source, type, nature, distribution channel, and geography. Based on type, the market is bifurcated into flavored and plain. The flavored segment is expected to register the fastest CAGR during the forecast period. Flavored yogurt has gained immense popularity, particularly in the form of a dessert, over the past few years owing to a significant shift in the dietary habits among the consumers.

The demand for naturally enriched fresh fruit-flavored yogurt is very high, especially for berry flavors such as blueberry, strawberry, and raspberry. In Western Europe, countries such as France, Germany, and the UK face high demand for Greek yogurt.

The product is a good source of protein and calcium and available in various flavors. Vanilla is a globally well-known flavor of yogurt. Flavored yogurts are increasingly replacing plain yogurt as it contains the same functional properties as plain yogurts due to innovations in product offerings, further fueling the demand for flavored yogurt. These factors are expected to drive the segment's growth.

The non-dairy yogurt market is segmented into five main regions - North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific is expected to register the highest CAGR in the market during the forecast period. In recent years, the consumption of non-dairy yogurt has steadily increased due to the growing number of lactose-intolerant people and health concerns regarding antibiotics and growth hormones often found in cow's milk.

The non-dairy yogurt market in the Asia Pacific is significantly growing due to changing lifestyles of consumers and an increase in the consumption of clean-label products, organic, and gluten-free products. The market in the region is also undergoing a remarkable transformation due to increased urbanization, diet diversification, and the legalization of foreign direct investment in the food sector.

Based on source, the non-dairy yogurt market is segmented into soy, almond, coconut, oat, and others. Based on type, the market is bifurcated into flavored and plain. In terms of nature, the market is divided into organic and conventional.

Based on distribution channel, the non-dairy yogurt market is categorized into supermarkets & hypermarkets, convenience stores, online retail, and others. In terms of geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The non-dairy yogurt market in North America is further segmented into the US, Canada, and Mexico.

The global economy was severely disrupted due to the COVID-19 pandemic. The outbreak resulted in a temporary disruption in the operations of industrial bases, which led compelled them to temporarily discontinue their expansion plans.

The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020. These factors hampered the market growth during the pandemic.

The market in Europe is sub segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The non-dairy yogurt market in Asia Pacific is sub segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The non-dairy yogurt market in South & Central America market is categorized into Brazil, Argentina, and the Rest of South & Central America.

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This release was published on openPR.