The vegan yogurt market size is expected to grow steadily at a CAGR of 5.8% from 2023 to 2033. It is projected to surpass a valuation of USD 11.7 billion by 2033, up from USD 6.7 billion in 2023.
The research report on the vegan yogurt market highlights that the growing vegan movement in North American and Asian countries is a key driver behind the success of vegan products. Vegan yogurt, in particular, enjoys significant household penetration due to its health benefits and high nutritional value. Additionally, its appealing flavors, enriched with organic ingredients, are boosting sales. The inclusion of advanced active and inactive cultures, along with probiotics and beneficial gut bacteria, enhances the yogurt’s health benefits, making it excellent for gut health and digestion.
A growing number of people are choosing healthy lifestyles and avoiding animal exploitation, driving up the demand for vegan alternatives to dairy products. Companies are experimenting with varying levels of probiotic bacteria and enriching their products with high protein and fiber content to attract consumers. Emerging plant-based companies are innovating with yogurt made from materials such as coconut, soy, cashew, oat, and almond milk. Additionally, the narrowing price gap between conventional and vegan yogurt is boosting global sales of vegan yogurt.
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Key Points
- 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.
- The China vegan yogurt market 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
- 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.
- 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 global vegan yogurt market is highly fragmented, with leading players introducing high-quality, nutrient-rich products to meet growing demand. To address a diverse range of tastes and preferences while preserving nutritional value, companies are expanding their production capacities.
Market Developments
- Epigamia, an Indian startup, announced the debut of a dairy-free coconut milk-based yogurt variety that is unsweetened specifically to meet the needs of Indian consumers.
- Danone has introduced its vegan yogurt under its essential dairy and plant-based products. The product is produced through almond milk and coconut milk.
Key Players
- Stonyfield Farm, Inc.
- KaTech
- Epigamia
- NANCY’S
- Daiya Foods Inc
- Kite Hill
- Chobani, LLC
- COYO Pty Ltd.
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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)
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