Global Vegan Yogurt Market Is Estimated To Witness High Growth Owing To Growing Consumer Preference For Non-Dairy Yogurt

Vegan Yogurt Market
Vegan Yogurt Market

Overview:

Yogurt has been touted as a health food for centuries thanks to its probiotics. These bacteria, which reside in the gut microbiota, help to support the immune system and metabolize foods. While dairy yogurt does have these benefits, plant-based options can be equally as good if not better. And they offer the added bonus of a reduced environmental footprint, as dairy farms produce staggering amounts of methane, a potent greenhouse gas.

Vegan yogurt can be high in saturated fat and sodium, and if it uses coconut milk it may also contain a lot of saturated fat. And that's not a good thing as too much saturated fat increases the risk for heart disease, high blood cholesterol, and atherosclerosis. It is easy, cost-effective, and tastes great. It is also a great choice for people who have lactose intolerance or a milk allergy, and for those who want to get more probiotics in their diet.

Market Dynamics:

Increasing product launches are estimated to augment growth of the global Vegan Yogurt Market during the forecast period. For instance, Soya rich Foods, a plant based food Manufacture Company launched ‘Yofu’ a new vegan yogurt. This vegan yogurt is available in several flavors like cinnamon, apples, mango, and cherry. Moreover, rising manufacturing cost and growing fluctuations in raw material prices are anticipated to restrain growth of the global vegan yogurt for market during the forecast period.

Impact of COVID-19:

The pandemic was first reported in 2019, in China. The pandemic affected the growth of many sectors. Manufacturing activities of many sectors was halted during in the pandemic. This affected the growth of several sectors like automobile, electronics, semiconductors, and food and beverage industry.

During the pandemic, people became more health-conscious and were choosing healthier options. This increased the demand for vegan food products. Many people were also avoiding consumption of meat that also boosted the growth of vegan products. Thus, the global Vegan Yogurt Market was witnessing growth. However, in the post-pandemic era, the market is further expected to witness growth, as all restrictions have been eased and many new products have been launched.

Key Takeaways:

The global Vegan Yogurt Market is expected to witness robust growth, exhibiting CAGR of 18.9 % over the forecast period, due to increasing acquisitions by key players.

For instance, in December 2020, a leading French yogurt company Danone, acquired a Colorado-based company WhiteWave Foods, for their wide range of plant-based food and beverages products such as Silk®, Vega™, and Alpro®.

Europe is anticipated to witness robust growth in the global vegan yogurt for market during the forecast period, due to growing demand for plant-based foods among consumers and increasing disposable income.

Key players active in the global Vegan Yogurt Market are Hain Celestial, Chobani, LLC, White Wave Foods, Danone, COYO Pty Ltd., General Mills Inc., Blue Diamond Growers, Kite Hill, Stonyfield Farm, Inc., NANCY'S, Daiya Foods Inc, Kite Hill, General Mills Inc., Hudson River Foods, Oatly A.B., and Good Karma Foods, Inc.

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