LONDON--(BUSINESS WIRE)--The global non-dairy yogurt market size is poised to reach USD 1.53 billion by 2023, according to a new report by Technavio, progressing at a CAGR of 17% during the forecast period.
Read the 123-page research report with TOC on "Non-Dairy Yogurt Market Analysis Report by product (almond-based, soy-based, coconut-based, others) and geographical regions (APAC, North America, Europe, MEA, and South America) 2019 - 2023" Request Free Sample Pages
The market is driven by increasing awareness about the health benefits of non-dairy yogurt products. In addition, the growing prominence of vegan food is anticipated to further boost the non-dairy yogurt market during the forecast period.
There has been an increase in the demand for non-dairy yogurt formulated using natural and healthy ingredients. As customers are becoming aware of the health implications of consuming artificial sugar and dairy products, manufacturers are increasingly focusing on the use of plant-based non-GMO ingredients that provide high nutritional value. As a result, ingredients such as almonds, soybeans, and coconuts are finding extensive application in the formulation of non-dairy yogurt products. Therefore, growing awareness about the health benefits of consuming non-dairy yogurt is expected to drive the global non-dairy yogurt market growth during the forecast period.
Government agencies in several countries are encouraging the adoption of plant-based diets. A vegan diet is known to offer several health benefits to consumers, as it is rich in fiber, antioxidants, vitamins A, C, and E; and other beneficial plant-based compounds. This is expected to further popularize vegan diets worldwide in the coming years. Thus, an increase in the demand for plant-based food products may encourage more consumers to adopt veganism in the coming years, which will boost the growth of the market during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Blue Diamond Growers
- COYO Pty Ltd.
- Danone SA
- Dean Foods Co.
- The Hain Celestial Group Inc.
Market Segmentation by Category and Product Types:
The Non-Dairy Yogurt market can be broadly categorized into the following product segments:
Key Regions for the Non-Dairy Yogurt Market:
Featuring a breakdown of region wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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