The rising demand for healthy and organic foods and other major driving factors is expected to favour the rise in the global plant-based yogurt market
Reports and Insights has published a new report titled, “Plant-based Yogurt Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Plant-based Yogurt Market, By Nature (Conventional, Organic), By Product Type (Cereal Type, Oat (Rice, Corn, Spelt), Legume (Soy, Pea, Peanut, Lupin, Chick Pea), Nut (Almond, Coconut, Hazelnut, Pistachio, Walnut, Cashew, Pili Nut), Seed (Sesame, Flax, Hemp, Sunflower), Pseudo Cereal, Quinoa, Teff, Amarnath, Cassava), By Flavour (Regular, Vanilla, Strawberry, Blueberry, Cherry, Peach, Raspberry, Coconut, Coffee, Others), By Price Range (Economic, Mid-Range, Premium), By Sales Channel (Food Service, Retail, Modern Trade, Convenience Stores, Specialty Stores, Discounters, Independent Small Groceries, E-commerce, Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The plant-based yogurt market is expected to reach at a value of US$ 504.6 Mn by 2030 end at a CAGR of 7.1%.
During the last couple of decades, plant-based yogurt used to be a niche product, as there were only a few products available in the the market, and not even one of them had performed well at that thick and creamy texture and slightly sour taste associated with the basic kind. Though things have surely moved.
In the present times, one can find plant-based yogurts developed from nuts like cashews, almonds, coconuts, pili, plantains, flax seeds, peas, and even oats! And similar to the dairy-based yogurt, the majority of the plant-based renditions include gut-enhancement, live probiotic cultures. Owing to which, the plant-based yogurt is witnessing higher demand across the global markets, further driving its market growth rapidly.
In addition to that, the growing number of people shifting towards a healthy and vegan lifestyle owing to growing health consciousness among the population worldwide is further projected to offer major opportunities to the market growth of plant-based yogurt in the forthcoming future.
With the same token, the increasing prevalence of lactose intolerance among people all around the world is further accelerating the demand for plant-based yogurt. Attributing to which, the global plant-based yogurt market is expected to rise considerably in the near future.
Moreover, the health benefits associated with the plant-based yogurt such as the antioxidant properties of almond milk yogurt have the potential to safeguard against various chronic cardiovascular diseases and cancer, further propelling its demand across the global markets. Therefore, the global plant-based yogurt market is projected to achieve significant growth in the coming years.