ID: MRFR/F-B & N/5851-HCR | 90 Pages | Published By Snehal Singh on April 2023
The Dairy-free Yogurt Market is projected to grow at a CAGR of 5.10% through 2030 with a projection value US$ 12.5 Bn by 2030.
2022 - 2030
Dairy-free Yogurt Market is anticipated to reach USD 12.5 billion by 2030, growing at a CAGR of 5.10% throughout that time. This is because veganism spreading fast across the globe and the consumption of non-dairy products are a vital part of the lifestyle.
Veganism is a fast-growing lifestyle that is most prevalent in the North American and European regions. Moreover, a huge population of people is lactose intolerant or allergic. Non-dairy products are growing highly popular among this population since do not contain any lactose. These factors are estimated to accelerate the growth of the dairy-free yogurt market.
Yogurt is often consumed as a snack. Diet-less yogurt is also known as plant-based yogurt and becoming popular among the vegan population. This is because this type of yogurt is sourced from plant-milk bases. Hence, they are a healthier, lactose-free alternative that offers a variety of health benefits to consumers.
With the rise of the Covid-19 impact, many large-scale businesses and industries suffered, except healthcare and life support products. The lockdown and physical distancing protocols have affected millions of small and big business institutions alike. The non-dairy yogurt market saw a slight downfall post the pandemic, due to the lockdown and physical distancing.
However, the key companies have adopted measures to sell dairy-free yogurt online. Hence, the accessibility of this healthier yogurt has become easier. Moreover, people are growing aware of the health benefits of the consumption of dairy-free yogurt.
Online non-dairy yogurt sales are estimated to soar in the coming years. The online stores' segment is expected to grow with the highest CAGR of up to 18.9% during the forecast period. So the global dairy-free yogurt market is expected to recover its profit and witness enormous growth after 2022.
A few factors may drive the growth of the dairy-free yogurt market. There have been increasing cases of lactose intolerance and sensitivity in consumers around the globe. It leads to high demand for non-dairy food products. Moreover, the rise in health awareness among people is increasing the demand for plant-based yogurt. Hence, these factors drive the growth of the dairy-free yogurt market.
Dairy-free yogurt is mainly lactose-free. This makes it suitable for consumption for children and adults who are allergic to dairy or lactose intolerant. They are also available in many flavors such as strawberry, pineapple, and others. Hence, it is very delicious and a great healthy snack for children. Since people are growing highly aware of the health benefits of using dairy-free products, they are switching to plant-based yogurt instead of regular. Major companies are offering flavored dairy-free yogurt that is targeted at children.
A few factors may inhibit the growth of non-dairy yogurt. The most important among them is the high price of dairy-less yogurt. This may hinder the growth of the global dairy-free yogurt market.
A few factors may challenge the non-dairy yogurt manufacturing companies. Many ingredients go into the making of these yogurts. However, the prices of these ingredients may often fluctuate. They may be expensive or cheap at times, depending on the fluctuations in the respective ingredient dairy-free yogurt market. Hence, these factors may affect the production of dairy-free yogurt and pose challenges to the manufacturing companies.
The dairy-free yogurt market is anticipated to grow at a high speed in the years to come. The non-dairy yogurt market value is anticipated to reach up to USD 8.22 billion over the forecast period, with a CAGR (Compound Annual Growth Rate) of about 14.51%. The enormous market growth is due to the swift adoption of veganism across the world since non-dairy products constitute an important part of the diet.
People are growing aware of the health benefits of dairy-free yogurt. Moreover, the yogurt is sold through a range of distribution channels such as supermarkets, hypermarkets, convenience, and online stores. Non-dairy yogurt is growing popular because of its numerous health benefits. This has led to various innovations and product launches. Hence, these factors may fuel the growth of the global non-dairy yogurt market.
Regional Market Summary
Global Dairy-free Yogurt Market Share (%), by Region, 2020
Category: Secondary Source and MRFR Analysis
The globaldairy-free yogurt marketis classified into many segments such as by category, product type, packaging, and distribution channel. Listed below are the dairy-less yogurt market segments:
By Product Type
By Distribution Channel
The regional analysis of the non-dairy yogurt market is classified into North America, Europe, Asia Pacific, and the rest of the world.The North American region comprises Canada, the US, and Mexico. The European region includes Italy, Spain, the UK, France, Germany, and others. Likewise, the Asia Pacific region comprises China, India, Indonesia, New Zealand, Australia, Japan, and others.
Among them, North America is expected to rule over thedairy-free yogurt market over the forecast period (2022 – 2030). The highest market share of this region is because most of the key companies in the global market are located in North America. However, the Asia Pacific region is anticipated to witness the fastest growth in the coming years. This is because the population of this region is moving towards healthier lifestyles and better alternatives in food. Europe will also see substantial growth in the forecast period.
The non-dairy yogurt industry is dominated by a few companies that play a vital role in the growth of the market. These dairy-free yogurt companies are called key companies. They contribute to the largest share of the market profit. The key companies account for the dairy-free yogurt market profits by adopting various marketing trends such as joint ventures, product launches, company expansions, and procurements. They are also experimenting with yogurt to create innovative recipes and delicious assorted flavors.
Below are the key companies that offer dairy-free yogurt in the global market, with the location of their headquarters:
The dairy-free yogurt market report delivers all the information about the growth of the globaldairy-free yogurt market in the forecast period. It also contains different sections of the market analysis to help obtain detailed information such as opportunities, challenges, drivers, Covid-19 analysis, regional analysis, competitive landscape, and others. Moreover, all the information is collected from verified primary and secondary sources to provide the expected market growth of the dairy-free yogurt market by the year 2030.
|Market Size||USD 12.5 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Product Type, Category, Packaging Type, Distribution Channel, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||The Coconut Collaborative (UK),Danone S.A. (France),Hain Celestial (US),Granarolo SpA (Italy),Forager Project (US),Springfield Creamery Inc. (US),Daiya Foods Inc. (Canada),Good Karma Foods Inc. (US),COYO Pty Ltd (Australia),NANCY'S (US),Lavva (New York),Whitewave Foods Company Inc. (US),Stonyfield Farm Inc. (US),General Mills Inc. (US)|
|Key Market Opportunities||growing highly aware of the health benefits of using dairy-free products|
|Key Market Drivers||
Rising cases of lactose intolerance is the major driver of the global dairy-free yogurt market.
High costs of dairy-free products can impede the global dairy-free yogurt market.
The Coconut Collaborative (UK),Danone S.A. (France),Hain Celestial (US),Granarolo SpA (Italy),Forager Project (US),Springfield Creamery Inc. (US),Daiya Foods Inc. (Canada),Good Karma Foods Inc. (US),COYO Pty Ltd (Australia),NANCY'S (US),Lavva (New York),Whitewave Foods Company Inc. (US),Stonyfield Farm Inc. (US),General Mills Inc. (US)
APAC can display the fastest growth rate in the global dairy-free yogurt market.
North America can lead the global dairy-free yogurt market due to increasing demand for plant-based foods.