Press release
Non-Dairy Yogurt Market Projected to Grow with Impressive 5.8% CAGR, Surpassing $9.14 Billion in 2028
Non-Dairy Yogurt Market Report
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the non-dairy yogurt industry. This report on non-dairy yogurt market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The non-dairy yogurt market size has grown rapidly in recent years. It will grow from $4.24 billion in 2023 to $4.98 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%.
The non-dairy yogurt market size is expected to see rapid growth in the next few years. It will grow to $9.14 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%.
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Key Market Players:
The Hain Celestial Group Inc., Danone S.A., General Mills Inc., Stonyfield Farm Inc., Daiya Foods Inc. are prominent players in the non-dairy yogurt industry.
Market Drivers:
According to the Non-Dairy Yogurt Market Report 2024 by The Business Research Company, the key factors driving the growth of the non-dairy yogurt market, includes the high lactose intolerant consumers. Lactose intolerance is a condition in which the body's capacity to digest lactose, a sugar present in milk and other dairy products, is impeded. Such people are likely to include non-dairy yogurt in their meals which will increase the demand for the product. The product is high in protein and calcium, both of which aid to boost immunity. In April 2022, according to the National Library of Medicine which is operated by the United States federal government, lactose intolerance is very common in adults. It is rarely dangerous. About 30 million American adults suffer from lactose intolerance by age of 20. The high consumption of lactose-free products will increase the demand for non-dairy products in the non-dairy yogurt market during the forecast period.
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Market segments for non-dairy yogurt include:
1) By Product: Soy Yogurt, Almond Yogurt, Coconut Yogurt, Oats Yogurt, Rice Yogurt, Pea Yogurt
2) By Form: Drinkable Yogurt, Spoonable Yogurt
3) By Distribution Channel: Supermarkets, Online Stores, Convenience Stores
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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