Non-Dairy Yogurt Market Size, Share and Industry Analysis Report by Product (Soy Yogurt, Almond Yogurt, Oat Yogurt, Coconut Yogurt, Rice Yogurt, Others), Nature (Organic, Conventional), Type (Regular, Flavored) and Sales Channel (Mainstream Stores, Specia

Non-Dairy Yogurt Market Size, Share and Industry Analysis Report by Product (Soy Yogurt, Almond Yogurt, Oat Yogurt, Coconut Yogurt, Rice Yogurt, Others), Nature (Organic, Conventional), Type (Regular, Flavored) and Sales Channel (Mainstream Stores, Specialty Stores, Online Stores, Foodservice), Regional Outlook, Competitive Market Share & Forecast, 2022 - 2028

The non-dairy yogurt market is projected to showcase steady growth by 2028 on account of rising prevalence of lactose intolerance around the world. In addition, widespread adoption of vegan lifestyles by consumers worldwide is likely to bolster industry expansion over the forecast period.

Increasing consumer inclination towards plant-based diets has fostered widespread product uptake around the globe. Moreover, growing environmental concerns and rising emphasis on personal health have encouraged consumers to opt for vegan lifestyles, which has augmented industry growth in recent years.

Notably, industry participants are engaging in gainful strategies to accommodate the escalating demand for non-dairy products, which has positively impacted the overall business landscape. For instance, in March 2021, The Kroger Co., a U.S.-based retail company, expanded its partnership with 80 Acres Farms, a leading vertical farming startup, to expand the reach of their products across numerous stores in the region.

The non-dairy yogurt market has been segmented on the basis of sales channel, product, nature, type, and region. In terms of product, the market has further been bifurcated into coconut, soy, oat, almond, and others.

The oat sub-segment accounted for more than 16% market share in 2021 and is expected to reach a significant valuation by the end of 2028. The others sub-segment is set to develop at a growth rate of about 15.5% over the estimated timeline to exceed USD 1.7 billion in revenue by 2028. Other products include plant-based yogurt, such as plantains, rice, cashew, and many more.

From the nature point of view, the non-dairy yogurt market has been segregated into conventional and organic. The conventional sub-segment is anticipated to progress at a CAGR of approximately 15% through the review period.

With respect to sales channel, the market has been classified into online stores, mainstream stores, specialty stores, and others. The non-dairy yogurt market size from the others sub-segment is foreseen to expand at around 12% CAGR through the assessment period to garner a valuation of above USD 390 million by the end of 2028. This growth is attributed to the rising popularity of sales channels other than specialty, mainstream, and online modes.

On the regional front, the Latin America non-dairy yogurt industry is poised to progress at a growth rate of above 14.5% over the study timeframe. The regional market is set to witness optimistic expansion through 2028 since it displays potential for an upsurge in consumer demand. Meanwhile, the Middle East & Africa non-dairy yogurt market is estimated to be valued at around USD 170 million by the end of the forecast period.