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The global vegan yogurt market is expected to witness a rise during the forecast years, due to increasing disposable income and the increasing number of individuals who are preferring less fat, sugar-free, and lactose-free food products. An upsurge in demand for vegan yogurt from various food industries is projected to contribute to its market growth in the forthcoming years.
Key companies operating in the global vegan yogurt market are focusing on launching advanced products for consumers in order to maintain market prominence. Daiya Foods Inc. (Canada), The Hein Celestial Group (U.S), are some of the key companies performing in the global vegan yogurt market.
Vegan is one type of dairy product prepared from the bacterial fermentation of milk including whole milk and skim milk. Vegan yogurt is a rich source of amino acids, vitamins, essential fats, minerals that helps in giving a healthy hair and skin. Vegan yogurt is helpful in increasing the metabolism which in turn helps to lose the weight, and helps in improving the bowel function and minimizes the inflammation. Vegan yogurt is helpful in absorbing minerals.
Key Market Driver -
Increasing inclination of consumers towards consuming plant-based protein products are the driving factors of market
Key Market Restraint -
Fluctuations in the price of raw material and the higher manufacturing cost of vegan yogurt is expected to hamper the growth of the market.
The possible ability of vegan yogurt for reducing cholesterol level, and hence helps in reducing the chances of digestion related problems is projected to fuel the growth of the global vegan yogurt market during the forecast period. Increasing preference of consumers towards organic food products and increasing disposable income is further expected to boost the demand for vegan yogurt at the forecast period.
Fluctuating prices of raw material used for the preparation of vegan yogurt is expected to hamper the market growth during the forecast years. Furthermore, high manufacturing cost and also the high-cost price of the product is expected to restrain the market growth.
Some of the major companies that are present in the global vegan yogurt market are Califia Farms LP, Danone SA, The WhiteWave Foods Company, The Hein Celestial Group, Good Karma Foods, SunOpta, Inc., Daiya Foods Inc., and Vitasoy International Holdings Limited.
On the basis of product type, the global vegan yogurt market has been segmented into soy yogurt, coconut yogurt, almond yogurt, and others. Soy yogurt segment is anticipated to exhibit considerable growth during the forecast period, as soy yogurt has many health benefits as compared to other types and it helps in controlling diabetes and high blood pressure level.
On the basis of application, the global vegan yogurt market has been segmented into food services and household. The application of vegan yogurt in the household is projected to be the highest during the forecast years, due to the growing vegan population, hence aid its market growth during the forecast period.
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North America is projected to dominate the global vegan yogurt market during the forecast years due to growing urbanization and many consumers are actively including vegan yogurt in their daily diet in countries such as U.S and Canada. Increasing consumer’s inclination towards vegan yogurt for various enriched nutritional values, and also positive health effects in American countries is further projected to drive the growth of the market in the forthcoming years.
The Asia Pacific is expected to drive the global vegan yogurt market during the fore coming years due to increasing awareness regarding consuming the gluten-free products.
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