Non-Dairy Yogurt Market is forecast to reach a Valuation of USD 12.2 Billion by The End of 2032 - Future Market Insights

The Non-Dairy Yogurt Market is a market research report that covers the present scenario and growth prospects of the global non-dairy yogurt market for 2022–2032. It also presents a detailed qualitative analysis of each segment in terms of product, technology, application, and geography.

NEWARK, Del., April 26, 2022 /PRNewswire/ -- Stimulated by innovations in flavored yogurt varieties, global non-dairy yogurt market is set for an upward growth trend over the course of next decade. Expected to reach the US$ 12.2 Bn mark by 2032 end, non-dairy yogurt market will be primarily driven by rise in inclination towards the consumption of plant-based products. The trend of natural and organic is also significantly contributing to the growth of non-dairy yogurt market.

In contrast to its conventional counterpart, organic non-dairy yogurt would account for a third of global market value in 2022. This share is however expected to expand in the near future, attaining the market value of over US$ 3 Bn at the end of projection period. The demand for flavored non-dairy yogurt continues to rise owing to widespread availability and innovations in terms of taste.

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Introduction of novel diet categories, such as non-GMO, vegan, and gluten-free, has boosted consumer demand for dairy alternatives. Shifting consumer preferences have also prompted manufacturers to launch innovative and authentic flavors. Several animal welfare associations and non-government organizations are supporting the welfare of farm animals and working to spread awareness about the nutritional benefits of dairy-free diets

Key Takeaways – Non-Dairy Yogurt Market Study

• The demand for coconut yogurt will increase at a CAGR of ~5.8% during the forecast period (2022-2032).
• Demand for global soy non-dairy yogurt in global market roughly equates the value of US $ 2 Bn and will account for 2/5th share in total market revenue in the near future.
• Sales of non-dairy yogurt is foreseen to be higher in countries of South Asia and East Asia.
• Organic non-dairy yogurt is yet to enter the mainstream.
• Increasing demand for natural and organic plant-based food products among consumers resulted in the increased usage of non-dairy yogurt in the food and beverages industry.
• The population allergic to nuts and seeds may remain a longstanding penetration challenge facing non-dairy yogurt market players.
• Consumers' choices nowadays reflect healthy and cost-effective preferences along with social and moral values, where non-dairy yogurt offers ethical and environmentally-friendly products to these consumers.

Increasing incidences of lactose intolerance are translating into substantial demand for lactose-free, plant-based dairy products. These products that are witnessing high demand include soy yogurt, almond yogurt, coconut yogurt, oat yogurt, and rice yogurt.

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What Does Competitive Landscape Analysis Reveal?

Key manufacturers are focusing to increase expenditure for research and development activities to introduce innovative non-dairy yogurt flavors. These manufacturers are also strategizing for portfolio expansion and supply chain management to improve their foothold around the world. Plant-based dairy products as a concept are practically unfamiliar in rural areas and certain cities in developing countries, are signifying comparatively low growth prospects of the non-dairy yogurt market in many countries. This scenario is anticipated to change in the next coming years on the account of macro factors which includes Internet penetration, which has been prompting the unification of media and food culture.

Key Companies Profiled

• The Hain Celestial Group Inc.
• Danone SA
• Nestlé SA
• Chobani, LLC
• Forager Project, LLC,
• Valio Ltd
• Stonyfield Farm Inc.,
• Daiya Foods Inc.
• Springfield Creamery Inc.
• The Coconut Collaborative
• COYO Pty Ltd.
• GT's Living Foods LLC

Non-Dairy Yogurt Market Segmentation

Product:

• Soy Yogurt
• Almond Yogurt
• Coconut Yogurt
• Oats Yogurt
• Rice Yogurt
• Pea Yogurt
• Others

Nature:

• Organic
• Conventional

Form:

• Drinkable Yogurt
• Spoonable Yogurt

Flavor:

• Plain/Unflavored
• Flavored

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Reduced Fat Butter Market- The global demand for reduced fat butter is anticipated to increase at a CAGR of around 5.2% to 6.7% during the forecast period from 2022 and 2032.

Natural Malt Sweeteners Market- The global sales of natural malt sweeteners are anticipated to rise at a moderate CAGR of around 3.8% to 4.2% during the forecast period between 2022 and 2032.

[Future Market Insights Webcast] Opportunities in Vegan and Plant based: 5th May 9-10 AM Pacific Time.  

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This is a market waiting to see explosive growth in coming years! Join us as we are in conversation with industry leaders about growth opportunities and what it takes to achieve economies of scale.

Guest Speakers:

• Alison Rabschunk - Business Development Director for Plant Protein, Kerry
• Anna Turvoll - Head of investor Relations, v2food
• Danny O'Malley - President and Founder, Before the Butcher

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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