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Non-Dairy Yogurt Market Size, Analysis And Forecast To 2033
Non-Dairy Yogurt Market Size
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According to The Business Research Company's, 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 growth in the historic period can be attributed to rise in demand for dairy-free alternatives, high nutritional content of non-dairy yogurt, improved taste and texture, wider availability of non-dairy yogurt, growing awareness about lactose intolerance.
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%. The growth in the forecast period can be attributed to growing popularity of plant-based diets, increasing vegan and plant-based diets, rise in the vegan population, market expansion in emerging economies, increasing healthcare accessibility. Major trends in the forecast period include innovations and developments in plant-based products, protein-enriched non-dairy yogurts, low-sugar and no-added sugar varieties, innovations in packaging, emphasis on organic and clean label formulas.
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Market Drivers and Trends:
The high lactose intolerant consumers will propel the growth of non-dairy yogurt in the non-dairy yogurt market during the forecast period. 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.
Product innovation are shaping the non-dairy yogurt market. An increasing number of customers suffering from health concerns connected to lactose-intolerant and an increase in the awareness about the health benefits of dairy-free yogurts among the customers has forced developers to launch unique products regards their health. For instance, in February 2022, Plant & Co, has launched a new dairy-free yogurt range called Yoat. The range is made using the company's signature oat and coconut base and will be available in natural, strawberry, raspberry, and peach flavors.
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Major Key Players of the Market:
The Hain Celestial Group Inc., Danone S.A., General Mills Inc., Stonyfield Farm Inc., Daiya Foods Inc, Whitewave Foods Company Inc., COYO Pty Ltd., Chobani LLC, Valio Ltd., Nestlé SA, Good Karma Foods Inc., Hudson River Foods, Kite Hill Inc., GT's Living Foods LLC, The Kroger Co., Epigamia Dairy Products Pvt. Ltd., Blue Diamond Growers, Coconut Grove Yogurt, Crunch Culture LLC, Forager Project LLC, Yoso Inc., The Coconut Collaborative Ltd., Nush Foods Inc., Lavva Inc., Ripple Foods Inc., Springfield Creamery Inc., So Delicious Dairy Free, Oatly AB, Califia Farms LP, Yoconut Dairy Free
Non-Dairy Yogurt Market 2024 Key Insights:
• 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%.
• High Lactose Intolerant Consumers Driving Non-Dairy Yogurt Market
• Expanding Flavor Options In The Market
• Western Europe was the largest region in the non-dairy yogurt market in 2023
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