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Non-dairy Yogurt Market size to exceed USD 7.5 billion by 2028

  • Published Date: March 28, 2022

According to a new research report by Global Market Insights, Inc., the Non-dairy Yogurt Market size is estimated to surpass USD 7.5 billion by 2028. Shifting trend towards adoption of vegan lifestyles coupled with increasing prevalence of milk allergies and lactose intolerance among both adult and geriatric populace will drive the product demand.
 

Substantial growth in health & fitness industry coupled with rising awareness about the health benefits of the product will fuel industry size. Besides, steady growth in life expectancy rate and geriatric population across the globe has stimulated product demand for boosting immunity, strengthening bone and gut health.

 

Dairy alternative products contain high protein and vitamins which are more beneficial to consume. Also, the booming demand for gluten-free and unsweetened products from diabetic consumers is supporting non-dairy products. Further, an increasing number of consumers having health-related issues including milk allergies and other problems are fueling product demand. Provision of various benefits such as improved digestion and abdominal health will further boost product penetration rate.
 

Consistent technological advancements in the manufacturing process and utilization of organic ingredients have led to high-quality yield with lesser wastage. Highest preference towards this technology is credited to its advantages such as a considerable reduction in agricultural residue and prevention from microbial ill-effects. These advancements will induce immense potential to the industry size over the forecast timeline.
 

Rising penetration of organized retailing outlets offering almond-based dairy-free products

The almond yogurt product segment accounted for over USD 750 million in 2028 owing to widescale acceptance from health enthusiasts and fitness-focused consumers searching for products prepared from plant ingredients. Almond is a rich source of antioxidants, healthy fats, protein, fiber, vitamin E, and magnesium. Moreover, almond milk yogurts contain gut-friendly probiotics and are often low in sugar. Increasing consumer inclination towards vegan products and maintaining body weight will further augment the non-dairy yogurt market share.
 

“As per the analysis, non-dairy yogurt market from almond yogurt products is forecasted to grow over 15% by 2028 owing to surging product adoption by health consciousness consumers”

Browse key industry insights spread across 300 pages with 338 market data tables & 22 figures & charts from the report, “Non-Dairy Yogurt Market Size By Product (Soy Yogurt, Almond Yogurt, Oat Yogurt, Coconut Yogurt, Rice Yogurt, Others), By Nature (Organic, Conventional), By Type (Regular, Flavored), By Sales Channel (Mainstream Stores, Specialty Stores, Online Stores, Foodservice), Industry Analysis Report, Regional Outlook, Price Trend, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/non-dairy-yogurt-market
 

Increasing consumer health consciousness along with several product benefits to propel regular non-dairy yogurt market growth

According to market analysis, the regular type of non-dairy yogurt segment accounted for over USD 950 million in 2028, owing to increasing health consciousness among the consumers. Regular type of dairy-free yogurt has gained high popularity and is extensively consumed by people of all age groups owing to the presence of essential nutrients, low fat, and sugar content. Rising prevalence of obesity, diabetes, and lactose intolerance has surged the demand for regular and plain products with gluten-free and unsweetened product variations.
 

“As per the analysis, non-dairy yogurt market from regular type is forecasted to grow over 14.5% by 2028 owing to increasing consumption of unsweetened products and focus on health and wellness”
 

Widescale product availability through specialty stores will propel non-dairy yogurt market growth

The presence of specialty stores for the sales of non-dairy yogurts is foreseen to grow by over 17% by 2028. An increasing number of specialty stores in both urban and rural areas will drive segment growth. Specialty stores are customized retail outlets that are dedicated to niche product categories. They stress their expertise in stocking all available varieties of the specialty product at varied price ranges, which enable the customer to buy an exact product that meets their requirements. Specialty stores play a key role in promoting vegan products in numerous flavor blends which will further augment the non-dairy yogurt market growth.
 

Increasing consumer health consciousness and demand for vegan products in Europe will foster product demand

As per regional market analysis, rising consumer spending on natural products and the rising prevalence of obesity and milk allergies in European countries will fuel industry growth. Europe non-dairy yogurt market is anticipated to account for over USD 2.5 billion by 2028. The region is characterized by a strong potential market for fortified foods & beverage products. An increasing number of sales channels showcasing non-dairy products under private labels coupled with increasing demand for plant-based derivatives are the key factors driving regional growth. 
 

Key market participants in the non-dairy yogurt industry are Danone, General Mills, The Hain Celestial Group Inc., Blue diamond, Chobani LLC, Arla Foods, Valio Ltd., Nancy’s Yogurt, The Kroger Co., COYO Pty Ltd., and Epigamia. According to market trends, several market players are also involved in various strategies and initiatives including technological advancements, product launches, and mergers & acquisitions in order to gain substantial market share. For instance, in 2017, Danone’s strategic move towards plant-based food and drinks - with the acquisition of WhiteWave which enabled them to enrich with consumer-loved brands and health-focused options.
 

Authors: Kunal Ahuja, Tushar Malkani

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