Global Vegan Yoghurt Market Outlook, 2029

The Global Vegan Yoghurt market is projected to grow at an 18% CAGR from 2024-29, fueled by the rising demand for dairy alternatives.

The global vegan yogurt market has witnessed substantial growth in recent years, driven by increasing consumer awareness about health and environmental sustainability. Vegan yogurt, typically made from plant-based ingredients such as soy, almond, coconut, or oats, has gained popularity among consumers looking for dairy-free alternatives without compromising on taste or nutritional value. The Main factors contributing to the growth of the vegan yogurt market is the rising prevalence of lactose intolerance and dairy allergies among the global population. As more individuals seek dairy-free options, vegan yogurt serves as a viable alternative that not only caters to dietary restrictions but also aligns with ethical and environmental concerns associated with traditional dairy production. In terms of product variety, the market offers a wide range of flavours, textures, and formulations to cater to diverse consumer preferences. Innovations in processing technologies have enabled manufacturers to improve the taste and texture of vegan yogurt, making it more comparable to traditional dairy yogurt According to the research report, “The Global Vegan Yoghurt Market Outlook, 2029” published by Bonafide Research, the market is expected to grow with 18% CAGR by 2024-29. This Market has further expanded the consumer base beyond vegans and vegetarians to include health-conscious individuals and those seeking sustainable food options. The retail landscape has played a crucial role in the market expansion, with vegan yogurt products becoming increasingly available across mainstream supermarkets, specialty stores, and online platforms. This accessibility has made it easier for consumers to incorporate plant-based alternatives into their daily diets, thereby fuelling market growth. The competitive landscape of the global vegan yogurt market is characterized by the presence of both established players and emerging start-ups. Key market players are focusing on product innovation, clean label ingredients, and sustainable packaging to gain a competitive edge and expand their consumer base. Collaborations and partnerships with retailers and distributors are also common strategies adopted by manufacturers to enhance market penetration and distribution networks. The vegan yogurt market is poised for continued growth, driven by evolving consumer preferences towards healthier and more sustainable food choices. The influence of social media and online platforms in promoting veganism and plant-based diets is expected to further boost market demand. Challenges such as ingredient sourcing, product consistency, and regulatory complexities may pose hurdles for market players, necessitating on-going innovation and adaptation to consumer trends.

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Market RestraintsTaste and Texture Challenges: One of the main challenges faced by the vegan yogurt market is replicating the taste, texture, and mouthfeel of traditional dairy yogurt. Achieving the desired creamy consistency and tangy flavour without the use of dairy can be technically challenging, hindering market growth. However, ongoing advancements in food technology and ingredient innovation are addressing these limitations. • Price Sensitivity: Vegan yogurt products often come with a higher price compared to conventional dairy yogurt, primarily due to the cost of plant-based ingredients and production processes. Price sensitivity among consumers, particularly in price-conscious markets, can restrain market growth. However, as the market expands and economies of scale are achieved, the prices may become more competitive. Market Trends

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Manmayi Raval

Manmayi Raval

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Innovation in Ingredients and Formulations: The vegan yogurt market is witnessing continuous innovation in ingredients and formulations. Manufacturers are exploring a wide range of plant-based sources, including nuts, soybeans, coconuts, and oats, to create yogurt alternatives with improved taste, texture, and nutritional profiles. • Flavour Variety: The market is experiencing a surge in the availability of vegan yogurt products in various Flavours, such as vanilla, berry, tropical, chocolate, and more. The incorporation of unique and appealing Flavours caters to diverse consumer preferences and enhances the overall consumer experience. Market Drivers and OpportunitiesHealth and Wellness Consciousness: Increasing awareness of the health benefits associated with plant-based diets is driving the demand for vegan yogurt. Vegan yogurt offers a dairy-free alternative that is often lower in saturated fat, cholesterol-free, and rich in essential nutrients, vitamins, and minerals, appealing to health-conscious consumers. • Environmental Sustainability: Concerns about the environmental impact of the dairy industry, including greenhouse gas emissions, water usage, and land degradation, are fueling the demand for sustainable food choices. Vegan yogurt, made from plant-based ingredients, offers a more environmentally friendly option, creating opportunities for market expansion. • Rising Lactose Intolerance and Allergies: The prevalence of lactose intolerance and dairy allergies is increasing globally. Vegan yogurt provides a suitable alternative for individuals who cannot consume traditional dairy yogurt due to lactose intolerance or allergy issues, contributing to market growth.

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Manmayi Raval

Based on the report the product type is segmented into Soy Milk Yogurt, Coconut Milk Yogurt, Almond Milk Yogurt and Rice Milk Yogurt. The Soy milk yogurt is leading in the vegan yogurt industry due to its widespread availability, nutritional profile, and versatility in culinary applications. Soy milk yogurt has emerged as the frontrunner in the vegan yogurt market for several compelling reasons. soy milk itself is widely recognized for its nutritional benefits, offering a comparable protein content to dairy milk along with essential amino acids, vitamins (such as B12 in fortified versions), and minerals like calcium. This nutritional profile makes soy milk yogurt a preferred choice among consumers seeking dairy alternatives that provide adequate protein and essential nutrients. Beyond its nutritional value, soy milk yogurt excels in terms of availability and familiarity. Soy products have been integrated into global diets for decades, making soy milk yogurt a readily accepted substitute for traditional dairy yogurt. Its widespread availability in supermarkets, health food stores, and online platforms ensures easy access for consumers interested in adopting a plant-based diet or exploring dairy-free options. Soy milk yogurt stands out for its versatility in culinary applications. It can be used in both sweet and savoury dishes, including smoothness, parfaits, dressings, and sauces, without compromising on taste or texture. This versatility appeals to a broad spectrum of consumers, from vegans and vegetarians to individuals with lactose intolerance or dairy allergies, as well as those simply looking to diversify their diet with plant-based alternatives. Another significant factor contributing to the popularity of soy milk yogurt is its role in sustainable food production. Soybeans are relatively resource-efficient compared to dairy farming, requiring less water and land while generating fewer greenhouse gas emissions. As environmental sustainability gains prominence in consumer choices, soy milk yogurt aligns well with the principles of reducing ecological footprint and promoting sustainable food systems. Advancements in food technology have enabled manufacturers to enhance the taste and texture of soy milk yogurt, addressing historical concerns about soy's flavour profile. Modern processing techniques have improved the creaminess and mouth feel of soy milk yogurt, making it increasingly comparable to traditional dairy yogurt in sensory attributes. In terms of market dynamics, soy milk yogurt benefits from strong industry support and investment, with major food corporations and start-ups alike focusing on product innovation and expanding their soy-based dairy alternatives. This strategic focus has led to a diverse array of soy milk yogurt products, including flavoured varieties, probiotic-enhanced options, and formulations tailored to specific dietary needs. Based on the report, the end user segment is segmented into Horeca and Household. The Household consumption is leading in the vegan yogurt industry due to increasing health consciousness, dietary preferences, and the convenience of incorporating dairy-free alternatives into daily routines. Household consumption has emerged as the primary driver in the vegan yogurt industry for several compelling reasons. Firstly, there has been a notable global shift towards healthier eating habits and increased awareness of the benefits associated with reducing or eliminating dairy from diets. Vegan yogurt, particularly varieties made from plant-based ingredients such as soy, almond, coconut, and oats, aligns perfectly with these evolving dietary preferences. It offers a dairy-free alternative that caters to lactose-intolerant individuals, those with dairy allergies, vegans, and health-conscious consumers seeking nutritious and sustainable food options. Within households, the consumption of vegan yogurt reflects a broader trend towards plant-based eating. Many consumers are choosing to integrate more plant-based foods into their diets for health reasons, such as reducing cholesterol intake or increasing fibber consumption. Vegan yogurt provides a convenient way to achieve these dietary goals without sacrificing taste or nutritional quality. Its versatility in recipes from breakfast bowls and smoothness to baking and savoury dishes, further enhances its appeal as a staple in modern kitchens. The rise of social media and online platforms has played a pivotal role in promoting plant-based diets and vegan products, including yogurt. Influencers and health advocates often endorse dairy-free alternatives, showcasing creative ways to incorporate them into everyday meals. This exposure has significantly influenced consumer behaviour, driving demand for vegan yogurt as a household staple. Another key factor contributing to the dominance of household consumption in the vegan yogurt market is the expanding availability and variety of products. Major supermarkets, health food stores, and online retailers now stock a wide range of vegan yogurt options, making it accessible to consumers worldwide. This accessibility has democratized plant-based eating, allowing more households to experiment with and adopt dairy-free alternatives based on their taste preferences and dietary needs. The convenience factor cannot be overstated. Ready-to-eat vegan yogurt cups and pouches cater to busy lifestyles, offering a quick and nutritious snack or breakfast option that requires minimal preparation. This convenience appeals to families, working professionals, and individuals alike, contributing to the steady growth of household consumption in the vegan yogurt sector. North America is leading in the vegan yogurt industry due to a strong consumer shift towards plant-based diets, robust market infrastructure supporting dairy-free alternatives, and widespread availability of innovative product offerings. North America has emerged as a frontrunner in the global vegan yogurt industry for several compelling reasons. There has been a significant cultural shift towards healthier eating habits and greater awareness of the environmental and ethical implications of food choices. This shift has fueled a growing demand for plant-based alternatives, including vegan yogurt, among consumers across the United States and Canada. Factors such as concerns over animal welfare, lactose intolerance, and dietary preferences (including veganism and vegetarianism) have contributed to the increasing popularity of dairy-free options like soy, almond, coconut, and oat milk yogurt. The region benefits from a well-established market infrastructure that supports the development, distribution, and marketing of dairy-free products. Major retailers and supermarkets in North America have embraced the trend towards plant-based eating, dedicating significant shelf space to a diverse array of vegan yogurt brands and flavours. This accessibility makes it easier for consumers to explore and incorporate dairy-free alternatives into their diets, thereby driving market growth. North America has been at the forefront of culinary innovation and dietary trends, influencing global food preferences. The region's vibrant food culture and consumer-driven demand for healthier, sustainable options have encouraged food manufacturers to invest in research and development, resulting in a wide range of vegan yogurt products that rival their dairy counterparts in taste and texture. This innovation has expanded the appeal of vegan yogurt beyond niche dietary segments to mainstream consumers looking for nutritious, flavourful alternatives. Social and digital media platforms have also played a pivotal role in promoting plant-based diets and vegan products in North America. Influencers, health advocates, and celebrities often endorse dairy-free alternatives, sharing recipes, product reviews, and lifestyle tips that resonate with a wide audience. This online visibility has not only raised awareness about the health benefits of vegan yogurt but has also normalized its consumption among diverse demographic groups, including families, millennial, and older adults. North American consumers are increasingly mindful of the environmental impact of their food choices. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Vegan Yogurt market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By product Type • Soy Milk Yogurt • Coconut Milk Yogurt • Almond Milk Yogurt • Rice Milk Yogurt By Engine Type • HORECA • Household The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Vegan Yogurt industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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Global Vegan Yoghurt Market Outlook, 2029

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