The global vegan yogurt market reached a value of US$ 1.94 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 17.7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Vegan yogurt is a creamy and healthy non-dairy vegan food product that assists in meeting the nutritional requirements of the vegan population. It is prepared using plant sources, such as almonds, soy, coconuts, flax, hemp, oats, peas and cashews. It is a rich source of vitamins, minerals, amino acids and essential fats, owing to which it assists in minimizing inflammation and increasing the metabolism. Currently, the demand for vegan yogurt is escalating due to the growing adoption of veganism and its easy availability in a wide array of flavors, such as vanilla, strawberry, raspberry, mixed berry, etc. According to studies by several institutes, including the University of Oxford, replacing meat and dairy products with a variety of plant-based foods can help improve human health and minimize greenhouse gas emissions. Moreover, numerous non-government organizations (NGOs) are promoting the welfare of farm animals and spreading awareness about the nutritional benefits of an animal-free diet, which in turn is strengthening the market growth. Apart from this, the increasing prevalence of chronic conditions is positively influencing the sales of low-fat vegan cheese as it helps maintain the blood glucose levels and reduce the risks of obesity, stroke, cholesterol and cancer. Furthermore, the leading players are investing in attractive packaging solutions to expand their existing consumer base. Other factors anticipated to bolster the market growth include the growing number of lactose-intolerant individuals and extensive campaigns undertaken by celebrities and other public figures to encourage the adoption of a vegan diet.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vegan yogurt market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, source, flavor, application, and distribution channel.
Breakup by Source:
Breakup by Flavor:
Breakup by Application:
Breakup by Distribution Channel:
Hypermarkets and Supermarkets
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Barambah Organics Pty Ltd., Blue Diamond Growers, Daiya Foods Inc. (Otsuka Pharmaceutical Co. Ltd.), Dean Foods (Dairy Farmers of America), General Mills Inc., Granarolo S.p.A., The Hain Celestial Group Inc., Vitasoy, White Wave Foods (Danone), etc. Key Questions Answered in This Report:
How has the global vegan yogurt market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global vegan yogurt market?
What is the breakup of the market based on the source?
What is the breakup of the market based on the flavor?
What is the breakup of the market based on the application?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global vegan yogurt market and who are the key players?
What is the degree of competition in the industry?