South & Central America Non-Dairy Yogurt Market Forecast to 2030 - Regional Analysis - by Source, Type, Nature, and Distribution Channel

The South & Central America non-dairy yogurt market was valued at US$ 87.82 million in 2022 and is expected to reach US$ 202.76 million by 2030; it is estimated to grow at a CAGR of 11.0% from 2022 to 2030.

Growing Trend of Veganism Due to Rising Environmental Concern Fuels the South & Central America Non-Dairy Yogurt Market

The vegan population has grown significantly over the past few years. According to Veganuary (a nonprofit organization that encourages individuals worldwide to become vegan for the entire month of January), in 2022, more than 620,000 people registered for the Veganuary campaign, and the registrations increased by 200% in the last three years.

South & Central America Non-Dairy Yogurt Market Overview

The non-dairy yogurt market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America. A shift in consumer lifestyle and dietary patterns is a major factor driving the growth of the non-dairy yogurt market in South & Central America, especially in Brazil. The rising population and continuous technological improvements are among the factors boosting the economic growth of Brazil and Argentina. Plant-based dairy products are a good energy source and help lower the risk of cardiovascular diseases. Moreover, the increasing milk allergies, which result in adverse immune reactions after ingesting animal milk among the population, particularly children and infants, is a major factor driving market growth.

Lactose intolerance and primary lactose malabsorption are the most common symptoms of adult-type hypolactasia (lactase deficiency) in Argentina, Brazil, and Ecuador. As a result, consumers are moving toward dairy-free products. Allergies and intolerances are major reasons behind the shift toward dairy-free products, especially considering the Food Allergy Initiatives statistics, which state that cow milk allergy is the leading food allergy in both infants and adults in South America. This factor is majorly driving the demand for non-dairy yogurt.

South & Central America Non-Dairy Yogurt Market Segmentation

The South & Central America non-dairy yogurt market is segmented based on source, type, nature, and distribution channel.

Based on source, the South & Central America non-dairy yogurt market is segmented into almond, soy, coconut, oat, and others. The coconut segment held the largest share in 2022.

Based on type, the South & Central America non-dairy yogurt market is bifurcated into flavored and plain. The flavored segment held a larger share in 2022.

Based on nature, the South & Central America non-dairy yogurt market is bifurcated into organic and conventional. The conventional segment held a larger share in 2022.

Based on distribution channel, the South & Central America non-dairy yogurt market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held the largest share in 2022.

Based on country, the South & Central America non-dairy yogurt market is categorized into Brazil, Argentina, the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America non-dairy yogurt market in 2022.

Danone SA, Cocojune Products, Forager Project, The Icelandic Milk and Skyr Corporation are some of the leading companies operating in the South & Central America non-dairy yogurt market.