The global plant-based yogurt market was valued at $5,043.3 million in 2022 and is projected to reach $12,200.4 million by 2032, registering a CAGR of 9.2% from 2023 to 2032.
Plant-based yogurt is made from plant-based ingredients. It include ingredients such as soy milk, almond milk, coconut milk, rice milk, and oat milk along with others. It is used as an alternative to regular dairy yogurt. They are lactose-free, vegan-friendly, allergen-friendly, low in saturated fats, promote sustainable agriculture, and are available in a variety of flavors. These types of yogurts are a popular choice among consumers who choose for dairy-free alternatives and animal-free products.
The plant-based yogurt market is analyzed on the basis of raw material, flavor, distribution channel, and region. On the basis of raw material, the market is divided into soy, almond, coconut, and others. On the basis of flavor, the market is segregated into original/plain, vanilla, strawberry, blueberry, and others. On the basis of distribution channel, the market is categorized into supermarket/hypermarket, convenience store, specialty store, and online store. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, United Arab Emirates, South Africa, Saudi Arabia, and rest of LAMEA).
The impact of the COVID-19 outbreak was moderate on the growth of the plant-based yogurt market. Trade restrictions and lockdown ceased the activities carried out in production and manufacturing units. Conversely, the recovery of the plant-based yogurt market is expected in the near future.
Every industry has observed sustainability as the newest trend, especially in the food & beverage sector, sustainability refers to the assurance and sourcing of products. Consumers have now concentrated on brands that prioritize sustainability and rewarding those who share their beliefs and ideas. Moreover, conventional dairy farming contributes to water pollution, deforestation, and greenhouse gas emissions. Conversely, the production of plant-based yogurt uses less water than that of animal agriculture, which necessitates a large quantity of land for the grazing of livestock and the cultivation of animal feed, ultimately resulting in deforestation and routine degradation. The manufacturing of plant-based yogurt involves reduced greenhouse gas emissions, efficient land use, water conservation, biodiversity preservation along with food security. The overall benefits possessed by sustainable products have attracted customers to choose plant-based products over animal-based products.
The market for plant-based yogurt has witnessed growth across the world. This is due to the increase in lactose intolerance and veganism. Individuals with lactose intolerance are prohibited from consuming dairy products and other goods derived from animals due to their health. In addition, it is expected to be used as a dairy substitute which has increased demand for plant-based yogurt. The people who are prohibited from consuming any traditional dairy products seek plant-based dairy products. Lactose digestion is difficult for those who are afflicted. The component known as lactose is a naturally occurring sugar in milk and milk products, causes a condition known as lactose intolerance in which the small intestine is unable to break down the lactose that has been taken.
The recent developments in the technology of food processing industry have possessed a lot of potential for the plant-based yogurt market. Moreover, enzymatic processing, extrusion, and fermentation are techniques that improve the usability and sensory qualities of plant-based ingredients. Plant-based components are optimized by businesses for better flavor, texture, and nutritional characteristics. As a result, yogurt products are improved in terms of appeal. Moreover, attributes such as creaminess, smoothness, and thickness of plant-based yogurt are improved by advances in homogenization, emulsification, and high-pressure processing (HPP). Plant-based proteins can also be produced using techniques such as fractionation, enzymatic hydrolysis, and solvent-free extraction. The usability, solubility, and nutritional profile of the component are improved, raising the overall standard of the yogurt product.
However, the uneven flavor and texture of plant-based yogurt are a barrier to its market progress. Almonds, soy, coconut, oats, and seeds are among the primary materials used to make plant-based foundation yogurt. Inherent properties of plant-based yogurt give the finished product a diversity of tastes and textures. Moreover, producers have problems making plant-based yogurt substitutes with the same smoothness. This happens because they lack the dairy proteins. The plant-based yogurt are more costly than yogurt made from milk. Almonds, soy, coconut, and oats are the ingredients required to manufacture plant-based yogurt, which is more expensive than the milk used to make ordinary yogurt. In addition, yogurt made from plants is manufactured on a huge scale and has high production costs. Producing yogurt from plants requires specialized equipment and techniques, which makes the process exceedingly challenging. In addition, funding for R&D is required for the production of plant-based yogurt. Plant-based yogurt is more expensive in comparison to dairy yogurts, which are more sensitive to scarcity and high costs due to supply and demand dynamics.
The major players analyzed for the plant-based yogurt industry Daiya Foods Inc., The Hain Celestial Group, Inc. Oatly Group AB, General Mills Inc., Kite Hill, Califia Farms, LLC, Springfield Creamery, Nush Foods, Danone S.A., and Forager Project.
Plant-based yogurt is made from plant-based ingredients. It include ingredients such as soy milk, almond milk, coconut milk, rice milk, and oat milk along with others. It is used as an alternative to regular dairy yogurt. They are lactose-free, vegan-friendly, allergen-friendly, low in saturated fats, promote sustainable agriculture, and are available in a variety of flavors. These types of yogurts are a popular choice among consumers who choose for dairy-free alternatives and animal-free products.
The plant-based yogurt market is analyzed on the basis of raw material, flavor, distribution channel, and region. On the basis of raw material, the market is divided into soy, almond, coconut, and others. On the basis of flavor, the market is segregated into original/plain, vanilla, strawberry, blueberry, and others. On the basis of distribution channel, the market is categorized into supermarket/hypermarket, convenience store, specialty store, and online store. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, United Arab Emirates, South Africa, Saudi Arabia, and rest of LAMEA).
The impact of the COVID-19 outbreak was moderate on the growth of the plant-based yogurt market. Trade restrictions and lockdown ceased the activities carried out in production and manufacturing units. Conversely, the recovery of the plant-based yogurt market is expected in the near future.
Every industry has observed sustainability as the newest trend, especially in the food & beverage sector, sustainability refers to the assurance and sourcing of products. Consumers have now concentrated on brands that prioritize sustainability and rewarding those who share their beliefs and ideas. Moreover, conventional dairy farming contributes to water pollution, deforestation, and greenhouse gas emissions. Conversely, the production of plant-based yogurt uses less water than that of animal agriculture, which necessitates a large quantity of land for the grazing of livestock and the cultivation of animal feed, ultimately resulting in deforestation and routine degradation. The manufacturing of plant-based yogurt involves reduced greenhouse gas emissions, efficient land use, water conservation, biodiversity preservation along with food security. The overall benefits possessed by sustainable products have attracted customers to choose plant-based products over animal-based products.
The market for plant-based yogurt has witnessed growth across the world. This is due to the increase in lactose intolerance and veganism. Individuals with lactose intolerance are prohibited from consuming dairy products and other goods derived from animals due to their health. In addition, it is expected to be used as a dairy substitute which has increased demand for plant-based yogurt. The people who are prohibited from consuming any traditional dairy products seek plant-based dairy products. Lactose digestion is difficult for those who are afflicted. The component known as lactose is a naturally occurring sugar in milk and milk products, causes a condition known as lactose intolerance in which the small intestine is unable to break down the lactose that has been taken.
The recent developments in the technology of food processing industry have possessed a lot of potential for the plant-based yogurt market. Moreover, enzymatic processing, extrusion, and fermentation are techniques that improve the usability and sensory qualities of plant-based ingredients. Plant-based components are optimized by businesses for better flavor, texture, and nutritional characteristics. As a result, yogurt products are improved in terms of appeal. Moreover, attributes such as creaminess, smoothness, and thickness of plant-based yogurt are improved by advances in homogenization, emulsification, and high-pressure processing (HPP). Plant-based proteins can also be produced using techniques such as fractionation, enzymatic hydrolysis, and solvent-free extraction. The usability, solubility, and nutritional profile of the component are improved, raising the overall standard of the yogurt product.
However, the uneven flavor and texture of plant-based yogurt are a barrier to its market progress. Almonds, soy, coconut, oats, and seeds are among the primary materials used to make plant-based foundation yogurt. Inherent properties of plant-based yogurt give the finished product a diversity of tastes and textures. Moreover, producers have problems making plant-based yogurt substitutes with the same smoothness. This happens because they lack the dairy proteins. The plant-based yogurt are more costly than yogurt made from milk. Almonds, soy, coconut, and oats are the ingredients required to manufacture plant-based yogurt, which is more expensive than the milk used to make ordinary yogurt. In addition, yogurt made from plants is manufactured on a huge scale and has high production costs. Producing yogurt from plants requires specialized equipment and techniques, which makes the process exceedingly challenging. In addition, funding for R&D is required for the production of plant-based yogurt. Plant-based yogurt is more expensive in comparison to dairy yogurts, which are more sensitive to scarcity and high costs due to supply and demand dynamics.
The major players analyzed for the plant-based yogurt industry Daiya Foods Inc., The Hain Celestial Group, Inc. Oatly Group AB, General Mills Inc., Kite Hill, Califia Farms, LLC, Springfield Creamery, Nush Foods, Danone S.A., and Forager Project.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the plant-based yogurt market analysis from 2022 to 2032 to identify the prevailing plant-based yogurt market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the plant-based yogurt market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global plant-based yogurt market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Flavor
- Blueberry
- Others
- Original/Plain
- Vanilla
- Strawberry
By Distribution Channel
- Supermarket/Hypermarket
- Convenience Store
- Specialty Store
- Online Store
By Raw Material
- Soy
- Almond
- Coconut
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- United Arab Emirates
- South Africa
- Saudi Arabia
- Rest of LAMEA
- Key Market Players
- Daiya Foods Inc.
- General Mills Inc.
- Nush Foods
- Springfield Creamery
- Kite Hill
- Forager Project
- Oatly Group AB
- Califia Farms, LLC
- Danone S.A.
- The Hain Celestial Group, Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PLANT-BASED YOGURT MARKET, BY RAW MATERIAL
CHAPTER 5: PLANT-BASED YOGURT MARKET, BY FLAVOR
CHAPTER 6: PLANT-BASED YOGURT MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: PLANT-BASED YOGURT MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the plant-based yogurt market was valued at $5 billion in 2022, and is estimated to reach $12.2 billion by 2032, growing at a CAGR of 9.2% from 2023 to 2032.Plant-based yogurt are manufactured by plant-based milk alternatives such as soy milk, almond milk, coconut milk, and oat milk along with other plant-based milk alternatives. It is manufactured through the process same as traditional yogurt manufacturing as beneficial bacteria such as Lactobacillus bulgaricus and Streptococcus thermophilus, are added to the plant-based milk. Moreover, these bacteria ferment plant-based milk sugar. Plant-based yogurts are chosen by those consumers th who are lactose intolerant. It is also opted by consumers having dairy allergies or follow a vegetarian lifestyle.
The plant-based yogurt market is analyzed on the basis of raw material, flavor, distribution channel, and region. On the basis of raw material, the market is divided into soy, almond, coconut, and others. On the basis of flavor, the market is segregated into original/plain, vanilla, strawberry, blueberry, and others. On the basis of distribution channel, the market is categorized into supermarket/hypermarket, convenience store, specialty store, and online store. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, United Arab Emirates, South Africa, Saudi Arabia, and rest of LAMEA).
The market for plant-based yogurt has huge potential . This is attributed to recent technological advancements in the food processing sector. Moreover, methods such as extrusion, fermentation, and enzymatic processing enhance the taste properties and utility of plant-based ingredients. Businesses have improved plant-based ingredients to have better flavor, texture, and nutritional qualities. Yogurt products are therefore more appealing as a result. In addition, advances in homogenization, emulsification, and high-pressure processing (HPP) have improved the characteristics of plant-based yogurt. The creaminess, smoothness, and thickness of plant-based yogurt has been improved due to the technological advancement. Techniques including fractionation, enzymatic hydrolysis, and solvent-free extraction can also be used to create plant-based proteins. The component has increased the usability, solubility as well as the nutritional profile of the plant-based yogurt.
Globally, sustainability is the newest trend in every industry, particularly in the food and beverage sector where it refers to the assurance and sourcing of the product. Consumers are now focused on brands that place a high priority on sustainability and give rewards to people who express their opinions. In addition, traditional dairy production increases greenhouse gas emissions, deforestation, and water pollution. Conversely, the production of plant-based yogurt consumes less water than that of animal agriculture because the grazing of cattle and the manufacture of animal feed require a significant amount of land, which leads to routine deforestation and degradation. All these factors have increased the inclination of consumers toward plant-based products. Reduced greenhouse gas emissions, effective land usage, water conservation, biodiversity preservation, and food security are all factors in the production of plant-based yogurt. The overall advantages of sustainable products have compelled consumers to favor plant-based over animal-based goods.
The inconsistent flavor and texture of Plant-based yogurt are a hindrance to its commercial success. Plant-based foundation yogurt is mostly made from oats, seeds, soy, coconut, and almonds. The inherent qualities of plant-based yogurt provide a finished product with a variety of flavors and textures. In addition, since plant-based yogurt alternatives lack the dairy proteins that give conventional yogurt its smooth and creamy texture, manufacturers have difficulty creating them with the same smoothness. A few of the production methods that affect the texture and consistency of products are fermentation, temperature control, and the use of stabilizers. Furthermore, yogurt manufactured from plants costs a lot more than yogurt made from milk. The component which are used to make plant-based yogurt are expensive than the milk used to make regular yogurt. The components include almonds, soy, coconut, and oats. In addition, yogurt derived from plants is produced on a large scale and at a significant cost. The process of making yogurt from plants is extremely difficult and calls for specific tools and methods. Moreover, the manufacture of yogurt made from plants needs R&D funds. Plant-based yogurt is more expensive compared to dairy yogurts, which are more susceptible to scarcity and high prices because of supply and demand dynamics.
The market for Plant-based yogurt has recently remained constant in established economies. These economies include countries such as the U.S., Western Europe, Japan, and Canada. The rapid urbanization has encouraged the sale of plant-based yogurt in many regions.
KEY FINDINGS OF STUDY
On the basis of raw material, the coconut segment held the major share in 2022.On the basis of flavor, the original/Plain segment held the major share in 2022.
On the basis of distribution channel, the supermarket/hypermarket held the major share in 2022.
On the basis of region, North America held the major share in 2022.
Companies Mentioned
- Daiya Foods Inc.
- General Mills Inc.
- Nush Foods
- Springfield Creamery
- Kite Hill
- Forager Project
- Oatly Group AB
- Califia Farms, LLC
- Danone S.A.
- The Hain Celestial Group, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 290 |
| Published | September 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 5043.3 million |
| Forecasted Market Value ( USD | $ 12200.4 million |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
