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The Non-Dairy Yogurt Market is a market research report that covers the present scenario and growth prospects of the global non-dairy yogurt market for 2022–2032. It also presents a detailed qualitative analysis of each segment in terms of product, technology, application, and geography.
NEWARK, Del., April 26, 2022 /PRNewswire/ -- Stimulated by innovations in flavored yogurt varieties, global non-dairy yogurt market is set for an upward growth trend over the course of next decade. Expected to reach the US$ 12.2 Bn mark by 2032 end, non-dairy yogurt market will be primarily driven by rise in inclination towards the consumption of plant-based products. The trend of natural and organic is also significantly contributing to the growth of non-dairy yogurt market.
In contrast to its conventional counterpart, organic non-dairy yogurt would account for a third of global market value in 2022. This share is however expected to expand in the near future, attaining the market value of over US$ 3 Bn at the end of projection period. The demand for flavored non-dairy yogurt continues to rise owing to widespread availability and innovations in terms of taste.
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Introduction of novel diet categories, such as non-GMO, vegan, and gluten-free, has boosted consumer demand for dairy alternatives. Shifting consumer preferences have also prompted manufacturers to launch innovative and authentic flavors. Several animal welfare associations and non-government organizations are supporting the welfare of farm animals and working to spread awareness about the nutritional benefits of dairy-free diets
Key Takeaways – Non-Dairy Yogurt Market Study
Increasing incidences of lactose intolerance are translating into substantial demand for lactose-free, plant-based dairy products. These products that are witnessing high demand include soy yogurt, almond yogurt, coconut yogurt, oat yogurt, and rice yogurt.
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What Does Competitive Landscape Analysis Reveal?
Key manufacturers are focusing to increase expenditure for research and development activities to introduce innovative non-dairy yogurt flavors. These manufacturers are also strategizing for portfolio expansion and supply chain management to improve their foothold around the world. Plant-based dairy products as a concept are practically unfamiliar in rural areas and certain cities in developing countries, are signifying comparatively low growth prospects of the non-dairy yogurt market in many countries. This scenario is anticipated to change in the next coming years on the account of macro factors which includes Internet penetration, which has been prompting the unification of media and food culture.
Key Companies Profiled
Non-Dairy Yogurt Market Segmentation
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Reduced Fat Butter Market- The global demand for reduced fat butter is anticipated to increase at a CAGR of around 5.2% to 6.7% during the forecast period from 2022 and 2032.
Natural Malt Sweeteners Market- The global sales of natural malt sweeteners are anticipated to rise at a moderate CAGR of around 3.8% to 4.2% during the forecast period between 2022 and 2032.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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