The global plant-based yogurt market size is witnessing an unprecedented surge, with its valuation reaching USD 4,489.87 million in 2023. This rapid expansion is driven by the increasing consumer awareness of the health benefits offered by plant-based alternatives. Forecasts suggest that the market will continue its upward trajectory, aiming to exceed USD 15,398.39 million by 2033, showcasing a remarkable CAGR of 13.1%.
The demand for plant-based yogurt is escalating as consumers seek healthier, sustainable food options. The trend towards inclusivity has led to the introduction of nut-free and gluten-free yogurt brands, catering to individuals with allergies or sensitivities. The increasing shelf space for plant-based alternatives in supermarkets, coupled with heightened media coverage, has significantly improved accessibility. Online platforms are also playing a crucial role in boosting sales, providing consumers with a variety of organic, plant-based yogurt options. Endorsements from celebrities and influential figures advocating plant-based lifestyles have further fueled the market’s popularity, instilling credibility and encouraging trial among new consumers.
Tap into Market Opportunities and Stay Ahead of Competitors – Get Your Sample Report Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-11684
One of the primary variables influencing the health advantages of plant-based yogurt is the frequency of diseases brought on by lactose intolerance. Demand for plant-based yogurt is also largely driven by the nutritional advantages of lowering the likelihood of cardiovascular disease. The popularity has been heightened by the growing trend of fortifying plant-based yogurt with nutrients. Plant-based yogurt that has been enriched with omega-3 fatty acids is one example. Health professionals are praising the several advantages of eating plant-based cultured yogurt.
Growth Factors in the Plant-Based Yogurt Industry
- Health Awareness and Dietary Shifts: The rising health consciousness among consumers is a primary driver for the plant-based yogurt market. The trend towards veganism and plant-based diets is gaining momentum, leading to increased consumption of vegan yogurt. Reports indicate that around 45% of consumers who already consume plant-based products plan to increase their intake, further bolstering market growth.
- Sustainability and Environmental Impact: Many consumers are turning to plant-based diets due to the environmental benefits associated with reduced animal agriculture. Plant-based yogurt requires fewer natural resources, making it a more sustainable option. Companies are focusing on incorporating sustainability into their production processes, which is resonating well with environmentally conscious consumers.
- Regulatory Support and Innovations: Government regulations encouraging plant-based alternatives are providing a significant boost to the market. Innovations in vegan probiotics have led to the development of plant-based yogurts that closely mimic the flavor, texture, and nutritional profile of traditional dairy yogurts. These advancements have expanded the market beyond vegans and vegetarians, attracting a broader consumer base.
“For plant-based products in general and plant-based yogurt in particular, North America and Europe remain particularly attractive markets. These two regions have seen a significant rise in individuals adopting vegetarian and vegan lifestyles. Nevertheless, changing trends are encouraging expansion throughout the Asia Pacific. The cultural acceptance of plant-based foods in certain countries is likely to contribute to a favorable environment for growth.” according to a lead food and beverage expert at FMI.
Key Takeaways from the Plant-based Yogurt Market
- In 2022, the global plant-based yogurt market size stood at US$ 4,018.11 million.
- The United States is leading the plant-based yogurt industry with a 20.8% global market share in 2023.
- In 2023, Germany’s plant-based yogurt industry tracks the United States, holding a 5.7% global market share.
- China emerged as a prominent player in the Asia Pacific plant-based yogurt industry, capturing a 5.6% global market share in 2023.
- In 2023, Australia possesses a modest 5.2% portion of the global plant-based yogurt industry.
- Japan’s plant-based yogurt industry secures a market share of 3.8% in 2023.
Contact Us Now To Discuss Your Customization Options And Unlock The Full Potential Of Market Intelligence For Your Business Success: https://www.futuremarketinsights.com/customization-available/rep-gb-11684
Regional Insights and Growth Prospects
The plant-based yogurt market is flourishing globally, with notable growth in developed regions such as North America and Europe. In the United States, the market is driven by a high prevalence of lactose intolerance and a strong emphasis on health and fitness. Germany leads in Europe, with a significant proportion of the population adopting plant-based diets.
In Asia-Pacific, China and Japan are emerging as lucrative markets. China’s market is bolstered by a growing middle-class population and government recommendations to reduce animal-based consumption. Japan’s market is expanding due to an increase in lactose intolerance and a growing elderly population seeking healthier alternatives
Competitive Landscape
The plant-based yogurt market is highly competitive, with major players focusing on product innovation and expansion. Companies are introducing new flavors and health benefits to attract a diverse consumer base. Recent developments include:
- Müller: In July 2023, Müller launched plant-based versions of its popular products in the UK.
- WayFare: In February 2023, WayFare introduced new plant-based yogurts across various locations in Illinois, Iowa, and Indiana.
- CP Kelco and Chr. Hansen: In November 2022, these companies announced a partnership to develop consumer-friendly, shelf-stable plant-based yogurt substitutes.
Gain Immediate Access to Detailed Market Insights Purchase Now: https://www.futuremarketinsights.com/checkout/11684
Plant-based Yogurt Market Segmentation
By Nature:
- Conventional
- Organic
By Product Type:
- Cereal Type
- Oat
- Rice
- Corn
- Spelt
- Legume
- Soy
- Pea
- Peanut
- Lupin
- Chick Pea
- Nut
- Almond
- Coconut
- Hazelnut
- Pistachio
- Walnut
- Cashew
- Pili Nut
- Seed
- Sesame
- Flax
- Hemp
- Sunflower
- Pseudo Cereal
- Quinoa
- Teff
- Amarnath
- Cassava
By Flavor:
- Regular
- Vanilla
- Strawberry
- Blueberry
- Cherry
- Peach
- Raspberry
- Coconut
- Coffee
- Others
By Price Range:
- Economic
- Mid-Range
- Premium
By Sales Channel:
- Food Service
- Retail
- Modern Trade
- Convenience Stores
- Specialty Stores
- Discounters
- Independent Small Groceries
- E-commerce
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- 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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube