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Redding, California - October 29, 2024

Vegan Yogurt Market to Reach $8.85 Billion by 2031

Vegan Yogurt Market Size, Share, Forecast, & Trends Analysis by Product Type (Almond Yogurt, Soy Yogurt, Coconut Yogurt, Rice Milk Yogurt), Flavor (Chocolate, Banana, Mango), Distribution Channel (Supermarket, Convenience Store) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled 'Vegan Yogurt Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication, the vegan yogurt market is expected to reach $8.85 billion by 2031, at a CAGR of 16.5% from 2024 to 2031.

The vegan yogurt market is experiencing growth driven by several factors, including the increasing vegan population, heightened awareness of health and wellness, a significant prevalence of lactose intolerance, and ongoing product innovation from various manufacturers. However, elevated product pricing and strong consumer preferences for animal-based dairy products may hinder market growth.

In addition, increasing investments and government support for plant-based industries and emerging economies in Asia-Pacific and Latin America create potential growth opportunities for market players. The market faces substantial challenges, such as fluctuating raw material prices. Furthermore, the rising adoption of clean-label products is a prominent trend in the vegan yogurt market.

Key Players:

The vegan yogurt market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in vegan yogurt market are Danone S.A. (France), Daiya Foods Inc. (Canada), General Mills Inc. (U.S.), Nancy's Probiotic Foods (U.S.), COYO Pty Ltd. (Australia), Chobani, LLC (U.S.), Kite Hill (U.S), The Hain Celestial Group Inc. (U.S.), Stonyfield Farm, Inc. (U.S.), Forager Project LLC (U.S.), KaTech Ingredient Solutions GmbH (Germany), Epigamia (India), and Oatly A.B. (Sweden), among others.

The vegan yogurt market is segmented based on product type, flavor, and distribution channel. The report also evaluates industry competitors and analyzes the market at the regional and country levels.

By product type, the almond milk segment is expected to account for the largest share of the vegan yogurt market in 2024. This segment’s large market share is primarily due to expanding consumer preferences for nut-based lactose-free goods, almond milk's wide availability for product manufacturing, and its highest nutritional density of any yogurt kind. It has more fiber, less sugar, and salt than dairy yogurt. Furthermore, almond yogurt has lower levels of saturated fat, which increases its popularity and encourages the expansion of the market.

By flavor, the chocolate segment is expected to account for the largest share of the vegan yogurt market in 2024. This segment's substantial market share is attributed to shifting consumer taste preferences, particularly among children and young adults who favor chocolate-flavored yogurt. Additionally, consumers are drawn to these products for their rich taste and healthier snack options.

By distribution channel, the supermarkets/hypermarkets segment is expected to account for the largest share of the vegan yogurt market in 2024. The substantial market share of this segment is attributed to a strong consumer preference for supermarkets and hypermarkets, driven by their convenience, extensive product variety, dedicated shelf space for vegan products, ease of purchase decisions, and an increasing number of stores in the area. Additionally, as consumers become more conscious of their dietary choices and tend to check product ingredients personally, this trend further fuels market growth.

Geographic Review:

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, U.K., Spain, Italy, France, Netherlands, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Indonesia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (Saudi Arabia, UAE, and Rest of Middle East & Africa)

By geography, Asia-Pacific is expected to account for the largest share of the vegan yogurt market in 2024, followed by North America, Europe, Latin America, and the Middle East & Africa. The substantial share of this regional market can be attributed to several factors, including the region's large vegetarian population, growing awareness of plant-based diets, rising expenditure on health-related products, and increased investment in the vegan food industry.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=6066

Key Questions Answered in the Report-

What is the value of revenue generated by the sale of vegan yogurt?
At what rate is the global demand for vegan yogurt projected to grow for the next five to seven years?
What is the historical market size and growth rate for the vegan yogurt market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which product type, flavor, and distribution channel segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for manufacturers in the vegan yogurt market?
Who are the major players in the vegan yogurt market? What are their specific product offerings in this market?
What recent developments have taken place in the vegan yogurt market? What impact have these strategic developments created on the market?

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Redding, California - October 29, 2024

Vegan Yogurt Market to Reach $8.85 Billion by 2031

Vegan Yogurt Market Size, Share, Forecast, & Trends Analysis by Product Type (Almond Yogurt, Soy Yogurt, Coconut Yogurt, Rice Milk Yogurt), Flavor (Chocolate, Banana, Mango), Distribution Channel (Supermarket, Convenience Store) - Global Forecast to 2031

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