Vegan Yogurt Market Projected to Hit US$ 11.7 Billion by 2033, Maintaining a 5.8% CAGR | FMI

The vegan yogurt market is anticipated to thrive at a steady CAGR of 5.8% between 2023 and 2033. The market is anticipated to cross a valuation of US$ 11.7 billion by 2033, while it is valued at US$ 6.7 billion in 2023.

• The rising vegan movement all over the world is contributing to the higher production and sales of vegan consumables, such as yogurt and milk. These products are there to replace dairy products.
• Vegan yogurt’s popularity with its health benefits provided by higher fiber, calcium, and protein levels is flourishing in its sales.
• A big chunk of the urban population that doesn’t follow a vegan diet also tries vegan Yogurt because of its taste and health benefits. Vegan yogurt is treated as a super food that is provided in some urban settings.
• A section of lactose intolerant people also consume vegan yogurt to fulfill their nutritional requirements, while not comprising their vegan diet.
• Social media and internet trends around veganism are pushing the masses to try the vegan diet once. Furthermore, the exceptional campaigns and top-notch advertising has also helped the vegan yogurt companies in selling products.

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Key Points

1. The United States market is another significant market. The market is anticipated to cross a value of US$ 803.6 million by 2033. The regional market is expected to thrive at a CAGR of 5.4% between 2023 and 2033. The growth is attributed to rising veganism and anti-diary movements.
2. The China vegan yogurt industry leads in terms of CAGR and market share. It is expected to thrive at a leading CAGR of 6.9% during the forecast period. The market is likely to reach a value of US$ 5.6 billion by 2033. Growing demand for vegan products, along with the increased lactose intolerant population, is flourishing the sales of vegan yogurt in China
3. Almond yogurt is likely to thrive in the product category due to its easy availability and high nutritional value. It is expected to thrive at a CAGR of 6.6% during the forecast period.
4. The household segment tops the end-use category with a CAGR of 3.8% between 2023 and 2033. The growth is attributed to its benefits in the daily diet through increased consumption.

Competitive Landscape

The key competitors focus on producing high nutritional value, along with the high plant-based content in the yogurt. Key competitors also merge, acquire, and partner with other companies to increase the supply chain and distribution channel. The key players in the market are Hain Celestial, General Mills Inc., Danone, Stonyfield Farm, Inc., and KaTech.

• Hain Celestial’s almond dream and coconut dream non-dairy yogurts get non-GMO project verification. These vegan yogurts contain high nutritional value, along with live and active cultures.
• General Mills Inc. has introduced new Yoplait Parfait pro-dairy-free yogurt that comes in a pre-perforated bulk bag, with retail sales growing 14% every year.

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Key Segments 

By Product Type:

• Soy Milk Yogurt
• Coconut Milk Yogurt
• Almond Milk Yogurt
• Rice Milk Yogurt

By Flavor:

• Chocolate
• Strawberry
• Banana
• Pineapple
• Mango
• Lemonade
• Peach

By End Use:

• HORECA
• Household

By Sales Channel:

• Offline Sales Channel
  • Supermarkets/Hypermarkets
  • Departmental Stores
  • Convenience Store
  • Other Sales Channel
• Online Sales Channel
  • Company Website
  • E-commerce Platform

By Region:

• North America
• Latin America
• Europe
• Asia Pacific (APAC)
• The Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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