[Latest] Global Plant-based Yogurt Market Size Envisioned at USD 9.27 Billion by 2030, Increasing a CAGR of 17.93% | Food & Beverage Revolution

According to Facts & Factors, the global Plant-based Yogurt market size is projected to reach USD 9.27 billion by 2030 from its value USD 2.49 billion in 2022, at CAGR of 17.93% during forecast period.

NEW YORK, United States, Sept. 30, 2023 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Plant-based Yogurt Market Size, Share, Growth Analysis Report By Nature (Organic And Conventional), By Product Type (Soy, Almond, Rice, And Others), By Flavor (Coffee, Coconut, Raspberry, Peach, Cherry, Blueberries, Strawberry, Vanilla, And Others), By Price Range (Premium, Mid-Range, And Economic), By Sales Channel (E-Commerce, Independent Small Grocers, Convenience Stores, Modern Trade, Retail Food Service, And By Region – Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” in its research database.

“According to the latest research study, the global Plant-based Yogurt Market size was valued at about USD 2.49 billion in 2022. The market is expected to grow at a CAGR of 17.93% and is anticipated to reach a value of USD 9.27 billion by 2030.”

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Plant-based Yogurt Market Overview:

Plant-based yogurt is an excellent substitute for conventional yogurt made from animal milk. It is a popular dairy-free alternative among individuals with dairy allergies or lactose intolerance. In addition, these are in high demand among vegans and those who favor plant-based products for environmental, health, or sustainability reasons. These yogurts are made from a variety of plant-based ingredients, including almond, soy, and coconut, among others.

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Key Insights from Primary Research

• Probiotic and nutritional benefits are driving the growth of the global plant-based yogurt market.
• Based on the nature, the organic segment is growing at a high rate and is projected to dominate the global market.
• On the basis of product type, the soy segment is projected to swipe the largest market share.
• Based on the flavor, the vanilla flavor segment is the fastest-growing segment of the global market.
• Based on the price range, the premium price range segment accounts for the largest share of the global market.
• Based on the sales channel, the retail food service segment accounts for the largest share of the global market.
• On the basis of region, North America is expected to dominate the global market during the forecast period.   

Growth Drivers

• Probiotic and nutritional benefits are likely to drive the growth of the global market

Yogurt made from plants is a fortified food that is full of probiotics and vitamins that are necessary for human health maintenance. As a result, the growing public awareness of the many advantages of a plant-based diet is probably going to fuel the expansion of the plant-based yogurt industry globally.

Furthermore, through raising awareness through aggressive marketing campaigns and product labeling, producers and well-known brands are strongly supporting plant-based yogurt products. In order to build a broad consumer base and raise brand recognition, social media has become an extremely effective tool. As a result, plant-based yogurt sales are anticipated to rise in the upcoming years.

Restraints

• Taste and texture challenge is likely to hamper the growth of the global market.

Mimicking the exact taste and texture of animal-based yogurt in the plant-based alternatives is a big challenge for manufacturers. Consumers are sometimes a little dissatisfied with the consistency and taste, which in turn is likely to limit the growth of the plant-based yogurt market in the coming years.

Browse the full “Plant-based Yogurt Market Size, Share, Growth Analysis Report By Nature (Organic And Conventional), By Product Type (Soy, Almond, Rice, And Others), By Flavor (Coffee, Coconut, Raspberry, Peach, Cherry, Blueberries, Strawberry, Vanilla, And Others), By Price Range (Premium, Mid-Range, And Economic), By Sales Channel (E-Commerce, Independent Small Grocers, Convenience Stores, Modern Trade, Retail Food Service, And By Region – Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” Report at https://www.fnfresearch.com/plant-based-yogurt-market

Plant-based Yogurt Market: Segmentation

The global plant-based yogurt market can be segmented into nature, product type, flavor, price range, sales channel, source, and region.

By nature, the market can be segmented into organic and conventional. The soy segment is projected to register a notable growth in the forthcoming years. The plant-based food products are gaining immense popularity among consumers. By product type, the market can be segmented into soy, almond, rice, and others. The organic segment accounts for the largest share of the global plant-based yogurt market.

By flavor, the market can be segmented into coffee, coconut, raspberry, peach, cherry, blueberries, strawberry, vanilla, and others. Vanilla flavor plant-based yogurt is a leading segment in the plant-based yogurt market industry because of its creamy and slightly sweet taste. By price range, the market can be segmented into premium, mid-range, and economic. The premium price range segment is expected to see a high growth rate during the forecast period. The premium quality products are of higher quality with unique and exotic flavors.

By food service, the market can be segmented into e-commerce, independent small grocers, convenience stores, modern trade, retail food service, and others. The retail food service segment is likely to dominate the plant-based yogurt market industry during the predicted period.

Regional Analysis:

• North America to lead the global market during the projected period

North America holds the largest proportion of the global market for plant-based yogurt as a result of the market’s transformation over the past few years. Increasing numbers of vegetarians, vegans, and health-conscious consumers, as well as people with dairy allergy or lactose intolerance, are driving a significant increase in demand for plant-based yogurt in this region.

The Asia-Pacific region is anticipated to develop steadily in the coming years due to rapidly changing dietary preferences, rising health consciousness, and environmental concerns. In addition, the region is a melting pot of cultures, allowing manufacturers to create distinct products that cater to the diverse preferences of people.

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Competitive Players:

The report contains qualitative and quantitative research on the global Plant-based Yogurt market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global Plant-based Yogurt market include;           

• Danone
• Chobani
• Yoplait
• Califia Farms
• Alpro
• Forager Project
• Kite Hill
• Nush
• Daiya
• Coyo
• The Coconut Collaborative
• Siggi’s
• Good Karma Foods
• Stonyfield Organic
• Hudson River Foods
• General Mills Inc.

The global Plant-based Yogurt market is segmented as follows:

By Nature Segment Analysis

• Organic
• Conventional

By Product Type Segment Analysis

• Soy
• Almond
• Rice
• Others

By Flavor Segment Analysis

• Coffee
• Coconut
• Raspberry
• Peach
• Cherry
• Blueberries
• Strawberry
• Vanilla
• Others

By Price Range Segment Analysis

• Premium
• Mid-Range
• Economic

By Sales Channel Segment Analysis

• E-Commerce
• Independent small grocers
• Convenience stores
• Modern Trade
• Retail Food Service
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Key Questions Answered in This Report:

• What is the market size and growth rate forecast for Plant-based Yogurt industry?
• What are the main driving factors propelling the Plant-based Yogurt Market forward?
• What are the leading companies in the Plant-based Yogurt Industry?
• What segments does the Plant-based Yogurt Market cover?

• How can I receive a free copy of the Plant-based Yogurt Market sample report and company profiles?

Key Offerings:

• Full in-depth analysis of the parent market
• Important changes in market dynamics
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• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market

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