Vegan Yogurt Market Size, Share, Growth, Analysis, Trends and Outlook Forecast 2023-2030.

Vegan Yogurt Market is growing at a CAGR of 17.36% during the forecast period (2023-2030).

Vegan yogurt is made from milk derived from nuts, seeds, and grains. Nuts used to make the product include coconut, macadamia, hazelnuts, pistachios, pili, almonds, and cashews. Seeds used in making vegan yogurt include soy, flax, and hemp, whereas grains include oats. So, manufacturers do not depend on animal-based products to make vegan yogurt. Vegan yogurt consists of fat, minerals, protein, and vitamins.
As part of a balanced diet, vegan yogurt is healthier than an animal-derived product. Nuts, soy, and oats are the main ingredients in vegan yogurt. It is also a good source of sodium and vitamins such as B1, B6, and B2, which add extra nutritional value to vegan yogurt. Vegan yogurt is lower in saturated fat and calories and higher in fiber which can help a balanced, healthier diet. According to its properties, vegan yogurt is the best substitute for animal by products.

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Market Drivers:

Vegan yogurt is created using milk that has been generated from nuts, seeds, and cereals. Coconut, macadamia, hazelnuts, pistachios, pili, almonds, and cashews are among the nuts used to manufacture the product. Soy, flax, and hemp seeds are among the seeds used in vegan yogurt, while oats are among the grains. As a result, producers do not rely on animal-based components to produce vegan yogurt. Vegan yogurt is high in protein, minerals, and vitamins. Vegan yogurt is healthier than animal-derived yogurt as part of a balanced diet. The key components in vegan yogurt are nuts, soy, and oats. It is also high in salt and vitamins B1, B6, and B2, which offer nutritional value to vegan yogurt. Vegan yogurt is lower in saturated fat and calories while being higher in fiber, which may contribute to a more balanced and healthier diet. Vegan yogurt is the finest alternative for animal byproducts, according to its qualities.

Market Segmentation: The soy segment accounted for the largest revenue share in 2021.
Plant-based food products are gaining popularity among consumers, including dairy alternatives such as soy yogurt. Moreover, these seed-based yogurts are an excellent source of protein compared to dairy-based yogurt.
Soy-based yogurt helps to reduce cholesterol and blood sugar levels in the body. These benefits promote the demand for soy-based vegan products, thereby driving the market.
In addition, the soy segment is also witnessing a steady growth in the consumption pattern, primarily due to the outgrowing demand for soy milk or soy-based products in developing countries. The consumption of soy has always been prominent due to its easy abundance, affordability, and rising health-imparting properties, which has paved the way for the growth of the soy-based yogurt segment in the vegan yogurt category.

Market Companies:

Some prominent vegan yogurt companies include Hain Celestial, Danone, General Mills Inc., Stonyfield Farm, Inc., Daiya Foods Inc., Good Karma Foods Inc., Hudson River Foods, NANCY'S, Kite Hill, and COYO Pty Ltd.

By Source

• Almond
• Soy
• Oats
• Others

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Sales
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Geographical Share: During the predicted period, Asia Pacific will be the leading region.

Global vegan yogurt revenue is highest in Asia Pacific. Rapid population expansion, lactose sensitivity, and growing disposable income boost growth possibilities. Concerns about calorie consumption and health issues like obesity and hypercholesterolemia also drive customers to vegan goods, which boosts vegan yogurt sales. Customers aware of dairy substitutes' nutritional benefits have gone vegan. Growing lactose intolerance and veganism have also driven market expansion in the area. Due to domestic gluten-free product knowledge, soy yogurt will stay important in the next years in Japan. Key manufacturers are also releasing new items to boost market development.

Recent Developments:

In October 2020, India-Based Soyarich Foods announced the launch of a new-flavored plant-based alternative, "Yofu," available in varied flavors such as mango, cherry, and apple cinnamon flavors. The product contains fruit pulp with no added colors or preservatives, thus suiting the vegan population for consumption.

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