The non-dairy yogurt market size was valued at USD 2.90 Billion in 2022 and is projected to reach USD 11.03 Million by 2031 expanding at a CAGR of around 16% during the forecast period, 2023 – 2031. The growth of the market is attributed to the shifting taste preferences, rising consumer expenditure on health & wellness goods, and several advantages like improved metabolism and healthy digestive system.
Compared to traditional dairy-based goods, non-dairy yoghurt offers a different source of nutrition because it is made with alternative milk as its base. Different plants, including soy, almond, oat, coconut, and others, serve as the basic source. Growing consumer awareness of their propensity for consuming vegan yoghurt in unconventional ways is estimated to drive the market.
Consumers who care about their health and have lactose intolerance accept more sources that are derived from plants. The current classification of dairy products containing lactose as allergens has led to a rise in the popularity of products made from plant milk. The product contains a lot of calcium and protein, which boost immunity.
Non-Dairy Yogurt Market Trends, Drivers, Restraints, and Opportunities
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Nutritional advantages of non-dairy yogurt in lowering cardiovascular risks are projected to drive the market.
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Growing inclination of consumers towards consuming earth and environment friendly products is anticipated to fuel the market in the coming years.
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Increasing trend of having plant-based diet is expected to boost the market during the forecast period.
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High cost of the product is estimated to hinder the market growth during the forecast period.
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The development of the dairy-free yoghurt market in emerging nations is driven by expanding urban population and increasing high-income consumers.
Scope of the Non-Dairy Yogurt Market Report
The report on the global non-dairy yogurt market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Non-dairy Yogurt Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023 – 2031
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Segmentation
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Products (Rice Yogurt, Coconut Yogurt, Oat Yogurt, Almond Yogurt, Soy Yogurt, and Others), Types (Flavored and Regular), Nature (Conventional and Organic), and Sales Channels (Foodservice, Online Stores, Specialty Stores, and Mainstream Stores)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Stonyfield Farm, Inc.; NANCY'S; Kite Hill; Hudson River Foods; Hain Celestial; Good Karma Foods, Inc.; General Mills Inc.; Danone; Daiya Foods Inc; COYO Pty Ltd.; and Chobani, LLC.
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Non-Dairy Yogurt Market Segment Insights
The soy yogurt segment held around 43% of the total market share in 2021
Based on products, the market is segregated into rice yogurt, coconut yogurt, oat yogurt, almond yogurt, soy yogurt, and others. The soy yogurt segment held around 43% of the total market share in 2021. Consumers are becoming interested in plant-based foods, especially dairy substitutes like soy yoghurt. In addition, compared to yoghurt made from milk, these yoghurts made from seeds are a great source of protein. Yogurt with soy ingredients helps to lower blood sugar and cholesterol levels. These advantages are increasing consumer demand for vegan products made from soy, which is boosting the market. The majority of soy product users are health and fitness enthusiasts seeking to lose weight and promote good digestion.
The flavored segment is anticipated to grow at a rapid pace during the forecast period
On the basis of types, the market is bifurcated into flavored and regular. The flavored segment is estimated to grow at a rapid pace during the forecast period. To meet the evolving needs of the consumer, manufacturers have been compelled by changing consumer taste preferences to create and introduce unique and new flavors. The growth of the market is attributed to creative taste options, particularly blended flavors and extensive product variations made possible by plant milk such as oat, almond, coconut, soy, and others.
The organic segment is expected to expand at a high CAGR during the forecast period
In terms of nature, the market is fragmented into conventional and organic. The organic segment is expected to expand at a high CAGR during the forecast period due to rising consumer awareness of health issues and increasing manufacturing of organic products, especially in the U.S. and Europe nations. Additionally, strict guidelines for enhancing food quality and safety combined with consumer-driven trends like the consumption of vegan and "clean label" products is estimated to drive the segment. Moreover, rising customer interest on achieving organic enrichment and natural wellness is projected to boost the market during the forecast period.
The online stores segment is projected to grow at a substantial CAGR during the forecast period
Based on sales channel, the market is divided into foodservice, online stores, specialty stores, and mainstream stores. The online stores segment is projected to grow at a substantial CAGR during the forecast period. In order to attract customers, a number of online retailers provide a wide range of dairy-free food and beverage alternatives at costs that are lower than those found in traditional retail locations. Moreover, due to their affordability and simplicity of accessibility, online services have expanded in both developed and developing nations.
North America is anticipated to dominate the market during the forecast period
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market in the coming years. Growth of the market in the region is attributed to a significant increase in the demand for vegan and plant-based foods. Factors such as evolving lifestyles, rising rates of overweight people, and increased expenditures on wellness, nutrition, and health-related goods are projected to boost the market. Increasing financial assistance from governments for the food sector and increasing consumption of organic and natural food is estimated to propel the market in the region.
Segments
The global non-dairy yogurt market has been segmented on the basis of
Products
- Rice Yogurt
- Coconut Yogurt
- Oat Yogurt
- Almond Yogurt
- Soy Yogurt
- Others
Types
Nature
Sales Channels
- Foodservice
- Online Stores
- Specialty Stores
- Mainstream Stores
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the non-dairy yogurt market include Stonyfield Farm, Inc.; NANCY'S; Kite Hill; Hudson River Foods; Hain Celestial; Good Karma Foods, Inc.; General Mills Inc.; Danone; Daiya Foods Inc; COYO Pty Ltd.; and Chobani, LLC. Some of the key players in the market are using several market strategies such as collaborations, partnerships, mergers, acquisitions, and product launches to increase their market shares. For instance,
- In June 2020, In India, Epigamia plans to introduce a new coconut milk-based plant-based yoghurt.
- In December 2019, Under the Oui brand, General Mills Inc. introduced a line of yoghurt products that are dairy-free.
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