Vegan Yogurt Market Outlook, Segments, Geography, Dynamics, and Insights by 2031

The Vegan Yogurt Market is expected to register a CAGR of 8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.

The report is segmented by source (Soy, Almond, Coconut, Others), category (plain, flavored). The report further presents analysis based on distribution channel (supermarkets and hypermarkets, convenience stores, online retail, and others). The global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The Report Offers the Value in USD for the above analysis and segments.

Purpose of the Report

The report Vegan Yogurt Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

• Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
• Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
• Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Vegan Yogurt Market Segmentation

Source

• Soy
• Almond
• Coconut
• Others

Category

• Plain
• Flavored

Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail
• Others

Geography

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Geography

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

• Get Top Key Market Trends of this report.
  This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Free Sample PDF

Vegan Yogurt Market Growth Drivers

• Growing Health Consciousness and Demand for Plant-Based Products: People's rising inclination to stay healthy is boosting the demand for plant-based vegan products. Vegan dairy products such as vegan yogurt, butter, and cheese are made primarily from plant-based sources such as almond, soy, coconut, etc., which are rich in wholesome carbs and nutrients. Thus, increasing health awareness is boosting the demand for vegan yogurt.
  
• Rising Prevalence of Lactose Intolerance and Dairy Allergies: The rising prevalence of lactose-based diseases also driving the demand for vegan dairy products. According to the article published in April 2023 by ‘National Centre of Biotechnology Information’ (NCBI), an average of 65% of the world’s population has lactose intolerance. People with lactose intolerance are recommended to have a lactose-free diet to avoid allergies and digestive problems such as diarrhea, abdominal bloating, and nausea. Thus, the demand for vegan yogurt is increasing across the globe.
  
• Higher Disposable Income and Growing Demand for Premium Vegan Products: Improved living standards and increased disposable income, several which ended up experiencing premium and artisanal vegan products. Economic prosperity allows for increased spending on specialty ingredients, thereby sustaining the growth of the vegan yogurt market worldwide.

Vegan Yogurt Market Future Trends

• Increasing Vegan Population and Consumer Engagement: The significantly increasing vegan population over the past few years is a major trend creating demand for vegan products. According to Veganuary (a nonprofit organization that encourages individuals worldwide to become vegan for the entire month of January), in 2022, more than 620,000 people registered for the Veganuary campaign, and the registrations increased by 200% in the last three years.
  
• Environmental Awareness and Sustainability Concerns: Consumer awareness of the harmful effects of the livestock industry on the environment is increasing. Consuming vegan dairy products helps minimize carbon footprints and reduce overall environmental impacts. Therefore, consumers are rapidly switching to vegan yogurt.
  
• Health Consciousness and Changing Dietary Habits: Consumers are highly inclined toward vegan-friendly products due to increased health concerns and increased awareness of animal welfare. The rising health consciousness among people due to the increasing prevalence of obesity, diabetes, and other diseases is compelling them to change their dietary habits. People generally perceive plant-based products to be healthier than conventional ones.

Vegan Yogurt Market Opportunities

• Product Innovation and Flavor Diversity: Key market players are innovating various products in the vegan format owing to increasing demand for vegan dairy products among consumers creating lucrative opportunities in the vegan yogurt market across the globe. Innovation in the different flavors, yogurt from different plant-based sources are the factors involved in innovation.
  
• Rising Popularity of Veganism Among Younger Generations: The increasing popularity of veganism, especially among younger generations, and the growing awareness of the negative impacts of the livestock industry on animals and the environment is boosting vegan dairy products demand among the younger generation.
  
• Surging E-commerce and Subscription Models: Surging the e-commerce sector further creates opportunities in the vegan yogurt market. Brands can get a much larger audience by having a robust internet presence and through e-commerce companies. The subscription model for regular deliveries of vegan yogurt also boosts loyalty and ease for customers.

Vegan Yogurt Market Regional Insights

The regional trends and factors influencing the Vegan Yogurt Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Vegan Yogurt Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Vegan Yogurt Market Report Scope

Vegan Yogurt Market Players Density: Understanding Its Impact on Business Dynamics

The Vegan Yogurt Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Vegan Yogurt Market are:

1. COYO Pty Ltd.
2. Daiya Foods Inc
3. Danone
4. General Mills Inc.
5. Good Karma Foods, Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Key Selling Points

• Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Vegan Yogurt Market, providing a holistic landscape.
• Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
• Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
• Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Vegan Yogurt Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.