Global Plant-based Yogurt Market Introduction and Overview
According to SPER Market Research, the Global Plant-based Yogurt Market is estimated to reach USD 11.57 billion by 2033 with a CAGR of 14.15%.
The report includes an in-depth analysis of the Global Plant-based Yogurt Market, including market size and trends, product mix, Applications, and supplier analysis. Plant-based yogurt is a creamy, healthful, non-dairy vegan food product that helps vegans achieve their nutritional requirements. It is composed of plant-based foods such as almonds, soy, coconuts, flax, hemp, oats, peas, and cashews. It is high in vitamins, minerals, amino acids, and vital fats, all of which assist to reduce inflammation and promote metabolism.
- Danone Canada's Silk brand debuted a new plant-based yogurt that contains Canadian pea protein and is high in protein in February 2024. Each 175g portion has a thick, Greek-style texture and 12g of protein. The new product has great taste, consistency, and nutritional benefits and comes in Vanilla and Key Lime flavors. Silk has also added new flavors and sizes to its lineup and changed the recipe for its current line of coconut-based yogurts.
- Marvelous Foods launched a new line of plant-based coconut yogurt products, Yeyo, at Ole supermarkets in October 2023. With 100 locations across 31 major cities and over 10 million registered members, Ole, a boutique grocery brand owned by China Resources Vanguard, is the largest premium supermarket chain in China. At first, Beijing's Ole stores would sell Yeyo yogurt.
- Müller, a well-known dairy company founded in Germany, announced in July 2023 that plant-based versions of its iconic products would be available in the UK. The products introduced were corner yogurts and rice pudding.
Market Opportunities and Challenges
Opportunities: The development of the plant-based yogurt sector has been greatly aided by technological developments in food processing and ingredient procurement. Food technology advancements have made it possible for producers to enhance the nutritional profile, flavor, and texture of plant-based yogurts, increasing their appeal to a wider market. Products that nearly resemble the creamy texture and tart flavor of conventional dairy yogurt have been produced thanks to the development of sophisticated fermentation techniques and the use of premium plant-based proteins. Additionally, biotechnology breakthroughs have produced new plant-based ingredients that improve the nutritional value of these products; for instance, the addition of pea protein and other plant-derived proteins has increased the protein content of plant-based yogurts, making them a good choice for consumers looking for foods high in protein.
Challenges: Plant-based yogurt is far more expensive than typical dairy yogurt. Plant-based yogurt, which is more expensive than ordinary yogurt, requires ingredients such as almonds, soy, coconut, and oats. Furthermore, plant-based yogurt is made on a big scale, with high production costs. Plant-based yogurt production is a complex process that necessitates the use of specialized tools and processes. Furthermore, research and development funding is required for the production of plant-based yogurt. Plant-based yogurt costs more than dairy yogurt, which is subject to restricted availability and high prices due to supply and demand dynamics.
Market Competitive Landscape
The worldwide plant-based yogurt business is extremely concentrated due to the existence of several behemoths. Many organizations are adapting their strategy to be competitive in a changing industry. This might include developing new products and buying existing plant-based alternative manufacturers. Businesses employ two major techniques to become more competitive: increasing their portfolio and expanding their distribution networks. Key market players are Danone; Hain Celestial; General Mills Inc; Stonyfield Farm, Inc; Kite Hill; Daiya Foods Inc; Chobani, LLC; Hudson River Foods; Good Karma Foods, Inc.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Source, By Flavor, By Distribution Channel |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Danone; Hain Celestial; General Mills Inc; Stonyfield Farm, Inc; Kite Hill; Daiya Foods Inc; Chobani, LLC; Hudson River Foods; Good Karma Foods, Inc. |
By Source Insights:
Soy yogurt generated significant revenue in 2023. Soybeans are high in protein and have a nutritional profile similar to dairy yogurt, appealing to health-conscious consumers. Furthermore, soy yogurt has a texture and flavor that are similar to typical dairy yogurt, making it an easy transition for consumers switching to plant-based diets. Soybeans' dominance is also due to its widespread availability and low cost, which allows manufacturers to produce soy-based yogurt easily and economically.
COVID-19 Impact on Global Plant-based Yogurt Market
The first decline in plant-based yogurt sales was caused by COVID-19 limits on physical retailers. By concentrating on e-commerce and online marketing, prominent firms are trying to strengthen their market position and attract customers beyond geographic borders. Additionally, the pandemic prompted consumers to look for products that boost immunity and other fortified products that offer health benefits. As a result, major players improved the composition of their yogurt products by adding organic ingredients, lowering the cholesterol content, and introducing vegan versions that don't contain any additional preservatives or additives.
Key Target Audience:
- Health-Conscious Consumers
- Vegan and Vegetarian Consumers
- Lactose-Intolerant Individuals
- Food & Beverage Manufacturers
- Retail Chains & Supermarkets
- E-commerce Platforms
- Specialty and Organic Food Stores
- Hospitality & Foodservice Industry
- Sports and Fitness Enthusiasts
- Dietary Supplement Manufacturers
- Exporters & Importers
- Distributors & Wholesalers
Our in-depth analysis of the Global Plant-based Yogurt Market includes the following segments:
| By Source: | AlmondOatSoyCoconutOthers |
| By Flavor : | Flavored YogurtNon-Flavored Yogurt |
| By Distribution Channel: | B2BB2CHypermarkets & SupermarketsSpecialty StoresOnlineOthers |
Key Topics Covered in the Report:
- Global Plant-based Yogurt Market Size (FY’2024-FY’2033)
- Overview of Global Plant-based Yogurt Market
- Segmentation of Global Plant-based Yogurt Market By Source (Almond, Oat, Soy, Coconut, Others)
- Segmentation of Global Plant-based Yogurt Market By Flavor (Flavored Yogurt, Non-Flavored Yogurt)
- Segmentation of Global Plant-based Yogurt Market By Distribution Channel (B2B, B2C)
- Statistical Snap of Global Plant-based Yogurt Market
- Expansion Analysis of Global Plant-based Yogurt Market
- Problems and Obstacles in Global Plant-based Yogurt Market
- Competitive Landscape in the Global Plant-based Yogurt Market
- Impact of COVID-19 and Demonetization on Global Plant-based Yogurt Market
- Details on Current Investment in Global Plant-based Yogurt Market
- Competitive Analysis of Global Plant-based Yogurt Market
- Prominent Players in the Global Plant-based Yogurt Market
- SWOT Analysis of Plant-based Yogurt Market
- Global Plant-based Yogurt Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Plant-based Yogurt Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Plant-based Yogurt Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Plant-based Yogurt Market
7. Global Plant-based Yogurt Market, By Source (USD Million) 2020-2033
7.1. Global Plant-based Yogurt Market Size, Share and Forecast, By Source, 2020-2026
7.2. Global Plant-based Yogurt Market Size, Share and Forecast, By Source, 2027-2033
7.3. Almond
7.4. Oat
7.5. Soy
7.6. Coconut
7.7. Others
8. Global Plant-based Yogurt Market, By Flavor (USD Million) 2020-2033
8.1. Global Plant-based Yogurt Market Size, Share and Forecast, By Flavor, 2020-2026
8.2. Global Plant-based Yogurt Market Size, Share and Forecast, By Flavor, 2027-2033
8.3. Flavored Yogurt
8.4. Non-Flavored Yogurt
9. Global Plant-based Yogurt Market, By Distribution Channel (USD Million) 2020-2033
9.1. Global Plant-based Yogurt Market Size, Share and Forecast, By Distribution Channel, 2020-2026
9.2. Global Plant-based Yogurt Market Size, Share and Forecast, By Distribution Channel, 2027-2033
9.3. B2B
9.4. B2C
9.4.1. Hypermarkets & Supermarkets
9.4.2. Specialty Stores
9.4.3. Online
9.4.4. Others
10. Global Plant-based Yogurt Market Forecast, 2020-2033 (USD Million)
10.1. Global Plant-based Yogurt Market Size and Market Share
11. Global Plant-based Yogurt Market, By Region, 2020-2033 (USD Million)
11.1. Global Plant-based Yogurt Market Size and Market Share By Region (2020-2026)
11.2. Global Plant-based Yogurt Market Size and Market Share By Region (2027-2033)
11.3. Asia-Pacific
11.3.1. Australia
11.3.2. China
11.3.3. India
11.3.4. Japan
11.3.5. South Korea
11.3.6. Rest of Asia-Pacific
11.4. Europe
11.4.1. France
11.4.2. Germany
11.4.3. Italy
11.4.4. Spain
11.4.5. United Kingdom
11.4.6. Rest of Europe
11.5. Middle East and Africa
11.5.1. Kingdom of Saudi Arabia
11.5.2. United Arab Emirates
11.5.3. Qatar
11.5.4. South Africa
11.5.5. Egypt
11.5.6. Morocco
11.5.7. Nigeria
11.5.8. Rest of Middle-East and Africa
11.6. North America
11.6.1. Canada
11.6.2. Mexico
11.6.3. United States
11.7. Latin America
11.7.1. Argentina
11.7.2. Brazil
11.7.3. Rest of Latin America
12. Company Profile
12.1. Danone
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Hain Celestial
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. General Mills Inc
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Stonyfield Farm, Inc
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Kite Hill
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Daiya Foods Inc
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Chobani, LLC
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Hudson River Foods
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Good Karma Foods, Inc
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links