Global Vegan Yogurt Market Is Estimated To Witness High Growth Owing To Growing Product Launches in Numerous Flavors and Increasing Lactose Intolerant Population
With plant-based yogurts taking off, there's an almost endless selection to choose from. Some are oat-based, some have creamy fruit, and others have protein that help in keeping fuller for longer. Some are lactose-free and others contain no dairy at all. Some are rich in probiotics and other gut-boosting bacteria. Most vegan yogurts are made with live cultures, which have a positive effect on the digestive health. Some have added protein, which is important for muscle growth and recovery. There are several ways you can make vegan yogurt, whereas all of them involve using a base of non-dairy milk, and letting the mixture culture. Using a high-fat milk like coconut or cashew for the best results. A variety of other non-dairy milks from nuts, seeds and grains can also be used.
The global Vegan Yogurt Market was valued at US$ 2.25 Bn and is expected to reach US$ 10.97 Bn exhibiting a CAGR of 18.9% during the forecast period 2022-2030.
Growing demand for vegan products are estimated to augment growth of the global vegan yogurt market over the forecast period. For instance, Soyarich Foods declared “Yofu”, their novel alternative in October 2020. The yogurt is present in cherry, apple, mango, cinnamon flavors, and it contains fruit pulp and does not contain preservative or colors. Moreover, growing costs and poor manufacturing practices are anticipated to restrain growth of the global vegan yogurt market over the forecast period.
The pandemic led to increased awareness among consumers regarding the health benefits of vegan yogurt. People were becoming more aware and were opting for much healthier products. This led to increase in demand for vegan yogurt. However, owing to strict restrictions imposed by the government in many regions, manufacturing units were shut down. Supply chains were also disturbed owing to the pandemic. This hampered the growth global Vegan Yogurt Market. However, adoption of online retail helped in the growth of the market. The market is anticipated to witness robust growth in the post-pandemic era.
Key Takeaways:
The global market is expected to witness high growth, exhibiting CAGR of 18.9 % over the forecast period, due to increasing product launches. For instance in March 2022, AYO introduced a novel plant based yogurt range in several flavors. This range has been made using almonds and it can be used for producing dips, smoothies and desserts.
North America is anticipated to witness significant growth in the global market over the forecast period, owing to growing awareness dairy substitutes and increasing demand for vegan products.
Major players operating in the global market are White Wave Foods, Barambah Organics Pty Ltd., Vitasoy, General Mills Inc., Blue Diamond Growers, The Hain Celestial Group Inc., Dean Foods, and Granarolo S.p.A.
Comments
Post a Comment