Vegan Yogurts Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Vegan Yogurts Market
The vegan yogurts market size was valued at USD 3.10 billion in 2023, and the market is now projected to grow from USD 3.70 billion in 2024 to USD 16.76 billion by 2032, exhibiting a CAGR of 20.75% during the forecast period of 2024-2032.
the COVID-19 pandemic had an unstaggering impact on the market. The product demand was lowered by lockdown limitations and affected the overall vegan yogurts market growth. This particular market is still experiencing rapid growth post-pandemic period.
More opportunities exist for operational players to introduce novel or inventive plant-centric items into the market as consumer’s interest in typical products is dwindling more quickly than before. In addition to trying to create sustainable items, the startups and other up-and-coming companies intend to expand their product line. They also predict that in the upcoming years, the market for vegan goods will expand. This is the major factor influencing the vegan yogurts market share.
The vegan industry is well established market in some regions whereas still in its early stages in others but also witnessed to be evolving globally. A line of trendy and mouthwatering flavours have been introduced such as Chocolate, strawberry and also blueberry.
Comprehensive Analysis of Vegan Yogurts Market
Type-wise, the market is divided into four subtypes, including oats, soy, almonds, and others. Because almonds are increasingly used in the creation of a variety of vegan items, it is projected that the almonds segment will have the highest revenue share of all. Four market segments are identified based on the distribution channel: online sales channels, convenience stores, supermarkets/hypermarkets, and others. The category with the biggest predicted revenue share is supermarkets and hypermarkets.
In the global market, Asia Pacific held a commanding proportion. Due to increasing population, lactose intolerance and other such factors have been influencing the growth of the market.
Chobani Global Holdings, Oatly A.B., Danone S.A., and General Mills Inc. are a few of the well-known companies in the vegan yogurt industry. Through joint ventures or collaboration with other business partners, the corporations are heavily concentrating on growing their consumer base.
In July 2023, Popular German brand ""Müller"" introduced rice pudding and plant-based corner yogurts to the UK market. Before being distributed by other merchants, the new vegan items were first introduced at ""Asda.""
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 20.75% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Source
Almond
Soy
Oats
Others
By Distribution Channels
Supermarkets/Hypermarkets
Convenience Stores
Online Sales Channel
Others
By Geography
North America (By Source, Distribution Channel, and Country)
U.S. (By Source)
Canada (By Source)
Mexico (By Source)
Europe (By Source, Distribution Channel, and Country)
U.K. (By Source)
France (By Source)
Germany (By Source)
Italy (By Source)
Spain (By Source)
Rest of Europe (By Source)
Asia Pacific (By Source, Distribution Channel, and Country)
China (By Source)
India (By Source)
Japan (By Source)
Australia (By Source)
Rest of Asia Pacific (By Source)
South America (By Source, Distribution Channel, and Country)
Brazil (By Source)
Argentina (By Source)
Rest of South America (By Source)
Middle East and Africa (By Source, Distribution Channel and Country)
South Africa (By Source)
United Arab Emirates (By Source)
Rest of the Middle East & Africa (By Source)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Supply Chain Analysis
- 4.3. Industry SWOT Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.5. Analysis related to COVID-19
- 5. Global Vegan Yogurt Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Source (Value)
- 5.2.1.1. Almond
- 5.2.1.2. Soy
- 5.2.1.3. Oat
- 5.2.1.4. Others
- 5.2.2. By Distribution Channel (Value)
- 5.2.2.1. Supermarkets/Hypermarkets
- 5.2.2.2. Convenience Stores
- 5.2.2.3. Online Sales Channel
- 5.2.2.4. Others
- 5.2.3. By Region (Value)
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East & Africa
- 6. North America Vegan Yogurt Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Source (Value)
- 6.2.1.1. Almond
- 6.2.1.2. Soy
- 6.2.1.3. Oat
- 6.2.1.4. Others
- 6.2.2. By Distribution Channel (Value)
- 6.2.2.1. Supermarkets/Hypermarkets
- 6.2.2.2. Convenience Stores
- 6.2.2.3. Online Sales Channel
- 6.2.2.4. Others
- 6.2.3. By Country (Value)
- 6.2.3.1. U.S
- 6.2.3.1.1. By Source (Value)
- 6.2.3.1.1.1. Almond
- 6.2.3.1.1.2. Soy
- 6.2.3.1.1.3. Oat
- 6.2.3.1.1.4. Others
- 6.2.3.2. Canada
- 6.2.3.2.1. By Source (Value)
- 6.2.3.2.1.1. Almond
- 6.2.3.2.1.2. Soy
- 6.2.3.2.1.3. Oat
- 6.2.3.2.1.4. Others
- 6.2.3.3. Mexico
- 6.2.3.3.1. By Source (Value)
- 6.2.3.3.1.1. Almond
- 6.2.3.3.1.2. Soy
- 6.2.3.3.1.3. Oat
- 6.2.3.3.1.4. Others
- 7. Europe Vegan Yogurt Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Source (Value)
- 7.2.1.1. Almond
- 7.2.1.2. Soy
- 7.2.1.3. Oats
- 7.2.1.4. Others
- 7.2.2. By Distribution Channel (Value)
- 7.2.2.1. Supermarkets/Hypermarkets
- 7.2.2.2. Convenience Stores
- 7.2.2.3. Online Sales Channel
- 7.2.2.4. Others
- 7.2.3. By Country (Value)
- 7.2.3.1. U.K.
- 7.2.3.1.1. By Source (Value)
- 7.2.3.1.1.1. Almond
- 7.2.3.1.1.2. Soy
- 7.2.3.1.1.3. Oat
- 7.2.3.1.1.4. Others
- 7.2.3.2. Spain
- 7.2.3.2.1. By Source (Value)
- 7.2.3.2.1.1. Almond
- 7.2.3.2.1.2. Soy
- 7.2.3.2.1.3. Oat
- 7.2.3.2.1.4. Others
- 7.2.3.3. France
- 7.2.3.3.1. By Source (Value)
- 7.2.3.3.1.1. Almond
- 7.2.3.3.1.2. Soy
- 7.2.3.3.1.3. Oat
- 7.2.3.3.1.4. Others
- 7.2.3.4. Germany
- 7.2.3.4.1. By Source (Value)
- 7.2.3.4.1.1. Almond
- 7.2.3.4.1.2. Soy
- 7.2.3.4.1.3. Oat
- 7.2.3.4.1.4. Others
- 7.2.3.5. Italy
- 7.2.3.5.1. By Source (Value)
- 7.2.3.5.1.1. Almond
- 7.2.3.5.1.2. Soy
- 7.2.3.5.1.3. Oats
- 7.2.3.5.1.4. Others
- 7.2.3.6. Rest of Europe
- 7.2.3.6.1. By Source (Value)
- 7.2.3.6.1.1. Almond
- 7.2.3.6.1.2. Soy
- 7.2.3.6.1.3. Oat
- 7.2.3.6.1.4. Others
- 7.2.3.7.
- 8. Asia Vegan Yogurt Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Source (Value)
- 8.2.1.1. Almond
- 8.2.1.2. Soy
- 8.2.1.3. Oat
- 8.2.1.4. Others
- 8.2.2. By Distribution Channel (Value)
- 8.2.2.1. Supermarkets/Hypermarkets
- 8.2.2.2. Convenience Stores
- 8.2.2.3. Online Sales Channel
- 8.2.2.4. Others
- 8.2.3. By Country (Value)
- 8.2.3.1. China
- 8.2.3.1.1. By Source (Value)
- 8.2.3.1.1.1. Almond
- 8.2.3.1.1.2. Soy
- 8.2.3.1.1.3. Oat
- 8.2.3.1.1.4. Others
- 8.2.3.2. India
- 8.2.3.2.1. By Source (Value)
- 8.2.3.2.1.1. Almond
- 8.2.3.2.1.2. Soy
- 8.2.3.2.1.3. Oat
- 8.2.3.2.1.4. Others
- 8.2.3.3. Japan
- 8.2.3.3.1. By Source (Value)
- 8.2.3.3.1.1. Almond
- 8.2.3.3.1.2. Soy
- 8.2.3.3.1.3. Oat
- 8.2.3.3.1.4. Others
- 8.2.3.4. Australia
- 8.2.3.4.1. By Source (Value)
- 8.2.3.4.1.1. Almond
- 8.2.3.4.1.2. Soy
- 8.2.3.4.1.3. Oat
- 8.2.3.4.1.4. Others
- 8.2.3.5. Rest of Asia Pacific
- 8.2.3.5.1. By Source (Value)
- 8.2.3.5.1.1. Almond
- 8.2.3.5.1.2. Soy
- 8.2.3.5.1.3. Oat
- 8.2.3.5.1.4. Others
- 9. South America Vegan Yogurt Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Source (Value)
- 9.2.1.1. Almond
- 9.2.1.2. Soy
- 9.2.1.3. Oat
- 9.2.1.4. Others
- 9.2.2. By Distribution Channel (Value)
- 9.2.2.1. Supermarkets/Hypermarkets
- 9.2.2.2. Convenience Stores
- 9.2.2.3. Online Sales Channel
- 9.2.2.4. Others
- 9.2.3. By Country (Value)
- 9.2.3.1. Brazil
- 9.2.3.1.1. By Source (Value)
- 9.2.3.1.1.1. Almond
- 9.2.3.1.1.2. Soy
- 9.2.3.1.1.3. Oat
- 9.2.3.1.1.4. Others
- 9.2.3.2. Argentina
- 9.2.3.2.1. By Source (Value)
- 9.2.3.2.1.1. Almond
- 9.2.3.2.1.2. Soy
- 9.2.3.2.1.3. Oat
- 9.2.3.2.1.4. Others
- 9.2.3.3. Rest of South America
- 9.2.3.3.1. By Source (Value)
- 9.2.3.3.1.1. Almond
- 9.2.3.3.1.2. Soy
- 9.2.3.3.1.3. Oat
- 9.2.3.3.1.4. Others
- 10. Middle East & Africa Vegan Yogurt Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Source (Value)
- 10.2.1.1. Almond
- 10.2.1.2. Soy
- 10.2.1.3. Oat
- 10.2.1.4. Others
- 10.2.2. By Distribution Channel (Value)
- 10.2.2.1. Supermarkets/Hypermarkets
- 10.2.2.2. Convenience Stores
- 10.2.2.3. Online Sales Channel
- 10.2.2.4. Others
- 10.2.3. By Country (Value)
- 10.2.3.1. South Africa
- 10.2.3.1.1. By Source (Value)
- 10.2.3.1.1.1. Almond
- 10.2.3.1.1.2. Soy
- 10.2.3.1.1.3. Oat
- 10.2.3.1.1.4. Others
- 10.2.3.2. UAE
- 10.2.3.2.1. By Source Value)
- 10.2.3.2.1.1. Almond
- 10.2.3.2.1.2. Soy
- 10.2.3.2.1.3. Oat
- 10.2.3.2.1.4. Others
- 10.2.3.3. Rest of Middle East & Africa
- 10.2.3.3.1. By Source (Value)
- 10.2.3.3.1.1. Almond
- 10.2.3.3.1.2. Soy
- 10.2.3.3.1.3. Oat
- 10.2.3.3.1.4. Others
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Vegan Yogurt Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 12. Company Profiles
- 12.1. Danone S.A.
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. General Mills Inc.,
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Oatly A.B.
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Forager Project
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Chobani Global Holdings
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Coyo Pty Ltd
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Nancy’s Probiotic Foods
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Kite Hill
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Daiya Foods Inc.
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. GT’s Living Foods LLC
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 13. Strategic Recommendations
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