South & Central America Non-Dairy Yogurt Market Forecast to 2030 - Regional Analysis - by Source (Almond, Soy, Coconut, Oat, and Others), Type (Flavored and Plain), Nature (Organic and Conventional), and Distribution Channel (Supermarkets and Hypermarkets

South & Central America Non-Dairy Yogurt Market Forecast to 2030 - Regional Analysis - by Source (Almond, Soy, Coconut, Oat, and Others), Type (Flavored and Plain), Nature (Organic and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)

The South & Central America non-dairy yogurt market was valued at US$ 87.82 million in 2022 and is expected to reach US$ 202.76 million by 2030; it is estimated to grow at a CAGR of 11.0% from 2022 to 2030.

Growing Trend of Veganism Due to Rising Environmental Concern Fuels the South & Central America Non-Dairy Yogurt Market

The vegan population has grown significantly over the past few years. According to Veganuary (a nonprofit organization that encourages individuals worldwide to become vegan for the entire month of January), in 2022, more than 620,000 people registered for the Veganuary campaign, and the registrations increased by 200% in the last three years.

The following figure shows the number of participants across the world in the Veganuary Campaign from 2016 to 2022:

FIGURE 1. REGISTRATIONS FOR VEGANUARY CAMPAIGN FROM 2016 TO 2022

Source: Veganuary 2022 Campaign Review

The livestock industry is one of the significant contributors to the total anthropogenic greenhouse gas emissions. According to the Food and Agriculture Organization (FAO), the global livestock industry emits 7.1 gigatons of carbon dioxide per year, accounting for 14.5% of all human-caused greenhouse gas emissions. The dairy sector is responsible for 30% of the total livestock emissions.

The following figure shows annual greenhouse gas emissions per kilogram of food products:

FIGURE 2. ANNUAL GREENHOUSE GAS EMISSIONS (GHG) PER KILOGRAM OF FOOD PRODUCTS

Source: Poore & Nemecek, 2018

As can be seen from the figure above, beef (beef herd), beef (dairy herd), and lamb and mutton products have the highest greenhouse gas emission. Many studies have shown that shifting to a vegan diet can significantly lower carbon dioxide emissions. Moreover, the United Nations, PETA, Good Food Institute, and many organizations believe that veganism can help save the planet from the climate crisis. Awareness regarding the harmful effects of the livestock industry on environment is increasing among consumers. The consumption of plant-based dairy products helps minimize carbon footprints, save water and other natural resources, and reduce the overall environmental impacts. Therefore, consumers are rapidly switching to plant-based dairy and meat products. Therefore, people are increasingly switching to a vegan diet due to rising sustainability and environmental concerns.

South & Central America Non-Dairy Yogurt Market Overview

The non-dairy yogurt market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America. A shift in consumer lifestyle and dietary patterns is a major factor driving the growth of the non-dairy yogurt market in South & Central America, especially in Brazil. The rising population and continuous technological improvements are among the factors boosting the economic growth of Brazil and Argentina. Plant-based dairy products are a good energy source and help lower the risk of cardiovascular diseases. Moreover, the increasing milk allergies, which result in adverse immune reactions after ingesting animal milk among the population, particularly children and infants, is a major factor driving market growth.

Lactose intolerance and primary lactose malabsorption are the most common symptoms of adult-type hypolactasia (lactase deficiency) in Argentina, Brazil, and Ecuador. As a result, consumers are moving toward dairy-free products. Allergies and intolerances are major reasons behind the shift toward dairy-free products, especially considering the Food Allergy Initiatives statistics, which state that cow milk allergy is the leading food allergy in both infants and adults in South America. This factor is majorly driving the demand for non-dairy yogurt.

South & Central America Non-Dairy Yogurt Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Non-Dairy Yogurt Market Segmentation

The South & Central America non-dairy yogurt market is segmented based on source, type, nature, and distribution channel.

Based on source, the South & Central America non-dairy yogurt market is segmented into almond, soy, coconut, oat, and others. The coconut segment held the largest share in 2022.

Based on type, the South & Central America non-dairy yogurt market is bifurcated into flavored and plain. The flavored segment held a larger share in 2022.

Based on nature, the South & Central America non-dairy yogurt market is bifurcated into organic and conventional. The conventional segment held a larger share in 2022.

Based on distribution channel, the South & Central America non-dairy yogurt market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held the largest share in 2022.

Based on country, the South & Central America non-dairy yogurt market is categorized into Brazil, Argentina, the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America non-dairy yogurt market in 2022.

Danone SA, Cocojune Products, Forager Project, The Icelandic Milk and Skyr Corporation are some of the leading companies operating in the South & Central America non-dairy yogurt market.
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