Non-Dairy Yogurt Market Size, Share, Trends, and Opportunity Analysis by Future Market Insights 2017-2027
Non-dairy Yogurt Market Segmentation
Non-dairy yogurt market can be segmented on the basis of type, applications, distribution channel, and by regions. On the basis of type, non-dairy yogurt market can be segmented into soy yogurt, coconut yogurt, cashew yogurt, and others. Soy sugar is expected to witness high demand in the non-dairy yogurt market over the forecast period. Based on applications, non-dairy yogurt is segmented into food, frozen dessert, beverages, and others. Food is expected to witness high value share in the non-dairy yogurt market owing to its high application in the segment.
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Based upon distribution channel, non-dairy yogurt market is segmented into supermarkets/hypermarkets, convenience stores, specialist stores, and others. Others include independent retailers and mass merchandisers. Supermarket/hypermarket is anticipated to hold relatively high revenue share in the non-dairy yogurt market. Expansion of retail chain formats are expected to have a vital contribution in the growth of supermarket/hypermarket over the forecast period.
Regional Outlook of Non-dairy Yogurt Market:
Based on geography, it is segmented into seven different regions: Latin America, North America, Eastern Europe, Western Europe, Asia-Pacific, Japan, and Middle East and Africa. In regional segments, Europe is expected to hold relatively high share in terms of market value. High revenue share of European non-dairy yogurt market can be credited to the increased consumption of flavored yoghurt especially in countries such as U.K. and France. Non-dairy yogurt ingredients market in the Asia Pacific region is expected to expand at relatively high CAGR over the forecast period. Factors such as growing awareness regarding the health benefits of non-dairy yogurt coupled with the increasing disposable income are anticipated to drive the demand for non-dairy yogurt market in the Asia-Pacific region.
Non-dairy Yogurt Market Trends and Market Drivers:
High growth of non-dairy yogurt market can be attributed to its high nutritional value coupled with the increasing demand for flavored yogurt. Non-dairy yogurt product are preferred by those consumers who are allergic to milk. Hence, it has captured a niche space in the yogurt market. Rising health consciousness has shifted the focus of consumers towards low fat yogurt owing to its high health benefits. This has provided a significant boost to the growth of non-dairy yogurt market. Additionally, rising preference for vegan diet clubbed with the rise in the cases of lactose intolerance and milk allergy is fueling the demand for non-dairy yogurt products market.
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Non-dairy Yogurt Market Key Players:
Some of the key players in the non-dairy yogurt market include General Mills, Coconut Grove Yogurt, COYO, Yoso, Crunch Culture, The Whitewave Foods Company, and The Hain Celestial Group, Inc., among others. Companies in the non-dairy yogurt market invest heavily on the research and development activities to enhance the nutritional profile of non-dairy yogurt. Focus of the companies in the non-dairy yogurt market lies upon introduction of varied flavors such as strawberry, blueberry, mango etc. in yogurt in order to meet the growing demand for flavored non-dairy yogurt.
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