Overview:
The global dairy-free yogurt market is all set to score past the predicted valuation mentioned in the Market Research Future (MRFR) reports. This growth will be impressive during the forecast period of 2018 to 2023. The report also traced several factors that can boost the market outcome. These factors are growing veganism, rise in incidents with lactose intolerance, surge in awareness regarding plant-based food benefits, better standard of disposable income, improved packaging and branding, increasing reach of products using various distribution channels, and others. People who want to stay safe by not getting any allergies from dairy products will opt for this product, which will boost the outcome.
The Dairy-free Yogurt market outlook is projected to grow from USD9.3539 Billion in 2023 to USD 13.9256 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.10% during the forecast period (2023 – 2032)
Segmentation:
The global dairy-free yogurt market, as discussed by MRFR,has segmentation like category, distribution channel, packaging type, and product type. These segments include various figures derived from a close study of the market and its various dynamics, which can help in better assessment of trends.
By product type, the global market for dairy-free yogurt can be segmented as coconut, almond, rice, soy, and others. The soy segment has substantial taker as it is quite popular among vegans.
By category, the global report on the dairy-free yogurt market can be segmented into conventional and organic. Increasing health awareness is providing ample scope to the organic segment of the market.
By packaging type, the report on the global dairy-free yogurt market can be segmented into pouches, tubs, and others.
By distribution channel, the study on the global dairy-free yogurt market includes store based and non-store based. The store based segment comprises convenience stores, hypermarkets & supermarkets, and others. As a one-stop solution, the store-based segment is getting substantial traction.
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Regional Analysis:
The global market is getting dominated by North America The regional market has several brands that are offering a huge variety of products. This is helping players to lure in a high number of customers who will promote the market expansion. Also, technology, growing awareness regarding benefits from plant-based food, and others are creating a huge opportunity for the market to expand. Europe has similar provisions and it will grow in countries like France, Germany, the UK, Italy, Spain, and others.
In the Asia Pacific region, growing veganism is helping companies to expand their reach and ensure more profit margin.
Competitive Landscape:
There are several companies in the dairy-free yogurt market who are making changes in their strategic positioning to facilitate growth for the market. These companies are COYO Pty Ltd (Australia), Danone S.A. (France), The Coconut Collaborative (UK), Forager Project (US), Good Karma Foods, Inc. (US), Lavva (New York), Daiya Foods Inc. (Canada), NANCY’S (US), Granarolo SpA (Italy), Hain Celestial (US), and others. The tactical measures adopted by these companies mostly include mergers, collaborations, hike in funding for research and development, better packaging and branding, innovation in product range, launching, acquisitions, and others. MRFR assessed the latest moves taken by these players to get a good overview of the market that may help in further understanding of the flow.
The dairy-free yogurt market insight has witnessed remarkable growth and transformation in recent years, reflecting the increasing consumer demand for plant-based and lactose-free alternatives. This shift in dietary preferences and health consciousness has propelled the market to new heights, with a diverse range of dairy-free yogurt options flooding the shelves. Almond, soy, coconut, and oat-based yogurts have emerged as popular choices, offering a creamy and nutritious alternative to traditional dairy yogurts. With a growing emphasis on sustainability and environmental concerns, this market is also experiencing innovation in packaging and production methods, making it an exciting sector to watch for both consumers and industry players alike.
Industry News:
In April 2020, So Delicious Dairy Free launched a new yogurt line with coconut milk flavor that comes with a delectable blend of toppings and coconut milk as the base of it. The brand has a market expertise of around 30 years using which they are constantly experimenting to grab new opportunities of expanding their business. The new line has 4 different toppings like coco almond, spiced blueberry, salted caramel, and lime pie combination. These will help the brand in grabbing attention.
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