Global Vegan Yogurt Market Overview:
Yogurt is a type of product which is traditionally made using dairy milk and cultured bacteria, which results in fermentation of dairy milk and formation of this yogurt like texture. But with rise of vegan culture, people are demanding alternatives to dairy products including dairy products. Vegan Yogurt is essentially similar to that of dairy product, with the major difference being the use of plant based milk in this case which includes soy, almond and rice as well as other plant based milks. The market of vegan yogurt has high market potential, but the current growth is limited by its expensive costs as well as less awareness about the presence of the product. Currently, North America followed by Europe and Asia Pacific are the largest markets of Vegan yogurt.
As per latest study released by AMA Research, the Global Vegan Yogurt market is expected to see growth rate of 18.2%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Flavoured Vegan Yogurts are rising in Popularity over Plain Flavoured Vegan Yogurt
Market Growth Drivers:
Rising Popularity of Vegan Culture
Challenges:
Less Awareness about the Product and the Benefits it serves
Restraints:
Expensive Compared to Dairy Yogurt
Opportunities:
Asia Pacific Presents Huge Opportunity to Grow because of Large Population in the Region
Competitive Landscape:
The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market.
Some of the key players profiled in the report are General Mills, Inc. (United States), Danone S.A. (France), Hain Celestial Group Inc. (United States), Daiya Foods Inc. (Canada), Stonyfield Farm (United States), Springfield Creamery, Inc. (United States), Good Karma Foods Inc. (United States), COYO Pty Ltd. (Australia), Kite Hill (United States) and Barambah Organics Pty Ltd. (Australia). Additionally, following companies can also be profiled that are part of our coverage like WhiteWave Services, Inc. (United States), Green Valley Creamery (United States) and Vitasoy International Holdings Limited (China). Analyst at AMA Research see United States Vendors to retain maximum share of Global Vegan Yogurt market by 2030. Considering Market by Distribution Channel , the sub-segment i.e. Online {E-Commerce Stores} will boost the Vegan Yogurt market. Considering Market by Flavour, the sub-segment i.e. Plain will boost the Vegan Yogurt market. Considering Market by Source, the sub-segment i.e. Soy will boost the Vegan Yogurt market. Considering Market by Packaging , the sub-segment i.e. Plastic Containers will boost the Vegan Yogurt market.
Latest Market Insights:
In 2020, Drums Food International, the India based food and Beverages Company which is also owner of the famous brand Epigamia has launched a small range of dairy-free coconut milk yogurt. This includes one Sweetened version and the other unsweetened jaggery version. Epigamia looks to tap the largely unexplored market in India, which is dominated by dairy based yogurt.
What Can be Explored with the Vegan Yogurt Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Vegan Yogurt Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Vegan Yogurt
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Vegan Yogurt market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Vegan Yogurt market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Vegan Yogurt Producers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.