Global Non-dairy Yogurt Market is slated to grow significantly through 2032 owing to the continuously surging popularity of the vegan lifestyle.
Veganism and vegan lifestyles have become increasingly popular in recent years, attributed to a rise in the availability of vegan cafes and plant-based processed foods. Sainsbury’s, for example, in its report mentioned that over 90% of the UK population considers themselves vegan or flexitarian. The accessibility of more tempting plant-based alternatives in the food and beverage industry is backing the expansion of the vegan population. Furthermore, producers’ innovative approaches to developing plant-based alternatives have escalated vegan food consumption, thus driving sales of non-dairy yogurt.
The non-dairy yogurt market has been divided in terms of raw material, type, nature, sales channel, and region.
Based on raw material, the almond yogurt segment is poised to amass more than USD 1 billion in revenue by 2032. The growing popularity of vegan products and vegetarianism among consumers is propelling the dairy substitutes market forward. Almond-based products are free of cholesterol and saturated fat. Thus, the rising consumer awareness about the importance of good health is set to drive segmental growth.
With respect to type, the flavored segment is speculated to attain high gains by the end of the research period. Flavored non-dairy yogurts are anticipated to gain prominence among young people and children because of their distinctive tastes and flavors. These products are available in a variety of flavors, including strawberry, raspberry, mango, and others. Non-dairy flavored yogurt consumption is escalating because of its growing popularity as an on-the-go food, which will help propel market growth.
In terms of sales channel, the specialty stores segment is set to witness sizable growth in the forthcoming years. The rapidly expanding network of specialty stores in urban and rural areas is expected to augment the demand for non-dairy yogurt. The industry revenues will further be fueled by the increasing popularity of specialty shops that stock all product varieties at varying prices.
From the regional perspective, the Middle East & Africa non-dairy yogurt market is estimated to garner more than USD 250 million by 2032. Soy and almond-based yogurts are popular dairy substitutes in the region. The surging number of patients suffering from allergies and health problems owing to the increased intake of additives found in dairy products will drive up demand for dairy-alternative products in the region. Dairy-free products are also commonly used in food and beverage industries which may stimulate regional outlook.