Plant based Yogurt Market - Global Industry Analysis

Global Plant based Yogurt Market by Source (Soy, Almond, Rice, and Others), by Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores and Online): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 15-Jul-2021 Category: Food & Beverage Report Format : PDF Pages: 150 Report Code: ZMR-5492 Status : Published

The global demand for the Plant-Based Yogurt market was valued at USD 2.11 Billion in 2020 is expected to reach USD 4.80 Billion in 2028 growing at a CAGR of 11.07% between 2021 and 2028.

Description

Market Overview

The global demand for the Plant-Based Yogurt market was valued at USD 2.11 Billion in 2020 is expected to reach USD 4.80 Billion in 2028 growing at a CAGR of 11.07% between 2021 and 2028.

On a global scale, millennials' growing preference for dairy-free products is predicted to expand the market for plant-based nutritional products like vegan yogurts. Lactose-free, gluten-free, and low in sugar, plant-based yogurts are high in probiotics and vitamins like B12. Consumers have become more interested in soy, coconut, and cashew-based yogurt because of its texture, which is similar to dairy yogurt.

COVID-19 Impact Analysis

Demand has shown a positive outlook, whereas the lack of raw material and shutdown has shown a negative impact on the supply side, but in the future, COVID-19 will have a moderate influence on the plant-based yogurt market. The demand side has showed a good impact, however the supply side has shown a negative impact due to a lack of raw materials and a shutdown, although COVID-19 will have a mild impact on the plant-based yogurt industry in the future.

Growth Factors

Reduced use of dairy products is due to an increase in lactose and gluten intolerance, the sour taste of dairy yogurt, and cow milk allergies. Increased demand for plant-based yogurt as a result of its functional value. For decades, dairy consumption has been declining, with each generation drinking less milk than the one before it. Plant-based diets are fast gaining favor among the public, with many people trying to replace dairy products, including vegan yogurt. Vegan yogurts with live bacteria and cultures provide the same digestive benefits as dairy yogurt. Plant-based yogurt manufacturers provide a wide range of yogurt bases as well as delicious flavors including strawberry, blueberry, coffee, and peach. They're also experimenting with new flavors, such as sea-salt chocolate and turmeric golden. Weight-conscious and health-conscious people, as well as gourmets and children, choose these yogurts.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Source Segment Analysis Preview

In 2019, the soy segment had the highest revenue share, surpassing 45%. Furthermore, when compared to dairy-based yogurt, these seed-based yogurts are a great source of protein. Yogurt made from soy helps the body lower cholesterol and blood sugar levels. These advantages are boosting demand for soy-based vegan products, propelling the market forward.

Over the predicted period, rice yogurt is expected to have enormous potential. Customers have been flocking to the product since rice milk is thought to be the least allergic of all the dairy milk replacements.

Distribution Channel Segment Analysis Preview

Because of the growing use of smartphones among millennials around the world, the online channel is predicted to develop at the fastest rate. These channels have the potential to give more convenience and shopping ease. E-retailers' many features, including value-added services like discounted prices, cash-on-delivery, and cashback, are likely to boost the online channel's growth in the future years.

Regional Analysis Preview

European region held a share of around 30% in 2020. The favorable attitude toward plant-based foods among consumers in developed countries such as Germany, the United Kingdom, and France, as a result of an increased number of campaigns on social media and satellite television channels, is expected to maintain the region's dominance.

Asia Pacific region is projected to grow at a CAGR of over 20% during the forecast period. Strong exposure of soy yoghurt in countries like Japan, owing to increased domestic knowledge of gluten-free goods, is expected to continue to be a driving force in the coming years. Furthermore, the growing number of lactose intolerant persons and consumer inclination for a vegan diet have fueled the market's rise in the region.

Key Market Players & Competitive Landscape

Some of the key market players of plant-based yogurt are Hain Celestial, Danone, General Mills Inc., Stonyfield Farm, Inc., Daiya Foods Inc, Good Karma Foods, Inc., Hudson River Foods, NANCY'S, Kite Hill, COYO Pty Ltd., and Chobani LLC among others.

Companies are also focusing on launching new products to enhance their product offerings and gain a competitive advantage in the market. Companies have recently begun investing in the online distribution channel to expand their consumer reach.

The global plant-based yogurt market is segmented as follows:

By Source

  • Soy
  • Almond
  • Rice
  • Others

By Distribution Channel

  • Hypermarkets & Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Online

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Source
        • 2.1.1.2. Market Attractiveness Analysis, By Distribution Channel
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Plant-Based Yogurt Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Short Term Dynamics
    • 3.3. Long Term Dynamics
  • Chapter No. 4 Plant-Based Yogurt Market – Source Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Source, 2020 & 2028
    • 4.2. Soy
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Almond
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Rice
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Others
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Plant-Based Yogurt Market – Distribution Channel Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Distribution Channel, 2020 & 2028
    • 5.2. Hypermarkets & Supermarkets
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Convenience Stores
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Specialty Stores
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Online
      • 5.5.1. Market Size and Forecast, By Region (USD Billion)
      • 5.5.2. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Plant-Based Yogurt Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Source, 2016 – 2028
      • 6.2.3. North America Market Revenue, By Distribution Channel, 2016 – 2028
      • 6.2.4. U.S.
      • 6.2.5. Canada
      • 6.2.6. Mexico
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Source, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By Distribution Channel, 2016 – 2028
      • 6.3.4. Germany
      • 6.3.5. France
      • 6.3.6. U.K.
      • 6.3.7. Italy
      • 6.3.8. Spain
      • 6.3.9. Rest of Europe
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Source, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By Distribution Channel, 2016 – 2028
      • 6.4.4. China
      • 6.4.5. Japan
      • 6.4.6. India
      • 6.4.7. South Korea
      • 6.4.8. South-East Asia
      • 6.4.9. Rest of Asia Pacific
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Source, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By Distribution Channel, 2016 – 2028
      • 6.5.4. Brazil
      • 6.5.5. Argentina
      • 6.5.6. Rest of Latin America
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Source, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By Distribution Channel, 2016 – 2028
      • 6.6.4. GCC Countries
      • 6.6.5. South Africa
      • 6.6.6. Rest of Middle-East Africa
  • Chapter No. 7 Plant-Based Yogurt Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Value Chain Analysis
  • Chapter No. 8 Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Plant-Based Yogurt Market: Company Market Share, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9 Company Profiles
    • 9.1. Hain Celestial
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Danone
    • 9.3. General Mills Inc.
    • 9.4. Stonyfield Farm, Inc.
    • 9.5. Daiya Foods Inc
    • 9.6. Good Karma Foods, Inc.
    • 9.7. Hudson River Foods
    • 9.8. NANCY'S
    • 9.9. Kite Hill
    • 9.10. COYO Pty Ltd.
    • 9.11. Chobani, LLC
  • Chapter No. 10 Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
  • Chapter No. 11 Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Table Of Figures

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Source
FIG NO. 2. Market Attractiveness Analysis, By Distribution Channel
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Plant-Based Yogurt Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Source, 2020 & 2028
FIG NO. 7. Global Plant-Based Yogurt Market for Soy, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Global Plant-Based Yogurt Market for Almond, Revenue (USD Billion) 2016 – 2028
FIG NO. 9. Global Plant-Based Yogurt Market for Rice, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Global Plant-Based Yogurt Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 11. Market Revenue Share, By Distribution Channel, 2020 & 2028
FIG NO. 12. Global Plant-Based Yogurt Market for Hypermarkets & Supermarkets, Revenue (USD Billion) 2016 – 2028
FIG NO. 13. Global Plant-Based Yogurt Market for Convenience Stores, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Global Plant-Based Yogurt Market for Specialty Stores, Revenue (USD Billion) 2016 – 2028
FIG NO. 15. Global Plant-Based Yogurt Market for Online, Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Global Plant-Based Yogurt Market Revenue Share, By Region, 2020 & 2028
FIG NO. 17. North America Plant-Based Yogurt Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 18. Porter’s Five Forces Analysis for Global Plant-Based Yogurt Market
FIG NO. 19. PEST Analysis for Global Plant-Based Yogurt Market
FIG NO. 20. Value Chain Analysis for Global Plant-Based Yogurt Market
FIG NO. 21. Company Share Analysis, 2019
FIG NO. 22. Company Strategic Developments – Heat Map Analysis
FIG NO. 23. Hain Celestial Business Segment Revenue Share, 2020 (%)
FIG NO. 24. Hain Celestial Geographical Segment Revenue Share, 2020 (%)
FIG NO. 25. Market Channels
FIG NO. 26. Marketing Channel Development Trend
FIG NO. 27. Research Methodology – Detailed View
FIG NO. 28. Research Methodology


Table Of Tables

List of Tables 

TABLE NO. 1. Global Plant-Based Yogurt Market: Snapshot
TABLE NO. 2. Global Plant-Based Yogurt Market for Soy, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 3. Global Plant-Based Yogurt Market for Almond, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 4. Global Plant-Based Yogurt Market for Rice, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 5. Global Plant-Based Yogurt Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 6. Global Plant-Based Yogurt Market for Hypermarkets & Supermarkets, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Plant-Based Yogurt Market for Convenience Stores, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Plant-Based Yogurt Market for Specialty Stores, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Plant-Based Yogurt Market for Online, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Plant-Based Yogurt Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. North America Plant-Based Yogurt Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 12. North America Plant-Based Yogurt Market Revenue, By Source, 2016 – 2028 (USD Billion)
TABLE NO. 13. North America Plant-Based Yogurt Market Revenue, By Distribution Channel, 2016 – 2028 (USD Billion)
TABLE NO. 14. Drivers for the Plant-Based Yogurt Market: Impact Analysis
TABLE NO. 15. Restraints for the Plant-Based Yogurt Market: Impact Analysis
 

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FrequentlyAsked Questions

The global plant-based yogurt market was valued at USD 2.11 Billion in 2020.

 

The global plant-based yogurt market is expected to reach USD 4.80 Billion by 2028, growing at a CAGR of 11.07% between 2021 to 2028.

Some of the key factors driving the global plant-based yogurt market growth are reduced use of dairy products is due to an increase in lactose and gluten intolerance, the sour taste of dairy yogurt, and cow milk allergies. Increased demand for plant-based yogurt as a result of its functional value.

Europe region held a substantial share of the plant-based yogurt market in 2020. Asia Pacific region is projected to grow at a significant rate owing to the rising demand for plant-based yogurt in developing economies such as China and India.

Some of the major companies operating in the plant-based yogurt market are Hain Celestial, Danone, General Mills Inc., Stonyfield Farm, Inc., Daiya Foods Inc., Good Karma Foods, Inc., Hudson River Foods, NANCY'S, Kite Hill, COYO Pty Ltd., and Chobani LLC among others.

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