Vegan Yogurt Market – Notable Developments
- General Mills continued to be bullish about Kite Hill, a vegan company that specializes in manufacturing plant-based yogurt and cheese. Kite Hill secured additional funding of US $40 million from 301 Inc. a General Mill’s venture capital firm. Kite Hill aims to use this funding for expanding its factory capacity.
- Danone, the leading French yogurt maker, acquired WhiteWave Foods in 2017. With a US $10 billion payment in cash, Danone acquired the Colorado-based company which owns a range of plant-based food and beverages manufacturing brands in Silk®, So Delicious®, Alpro®, and Vega™ brands.
- Califia Farms launched its first ever probiotics-rich vegan yogurt drinks line in 2018. The company’s latest product line gained widespread popularity among global masses and became its most accepted product in the span of 12 months. The company launched the vegan yogurt drinks in four flavors namely strawberry, mango, super berry, and unsweetened plain.
- Ripple launched its first ever vegan Greek yogurt line in 2018 with its major constituent being its proprietary pea-based protein Ripptein. The pea-based composition of the yogurt aims to free the vegan product from common allergens in nuts, soy, gluten, lactose, and other common allergy-causing agents.
The report on the vegan yogurt market also features detailed profiling of key market players.
The key market players profiled in the report include Hain Celestial Group Inc., Stonyfield Farm Inc., Daiya Foods Inc., Good Karma Foods Inc., Hudson River Foods, Nancy’s Yogurt, Kite Hill, and COYO Pty Ltd.
Vegan Yogurt Market Remains a Fragmented Landscape
Considering the nature of the product, the vegan yogurt market continues to witness a high level of fragmentation, with unorganized players maintaining their strong presence.
The level of fragmentation is higher also on account of the fact that many emerging countries in the Asia Pacific are among the leading producers and consumers of vegan yogurt.
Lax regulations, stronghold over domestic supply chains, and intimacy with local tastes and preferences are the key factors that can be attributed to the growth of the unorganized sector in vegan yogurt market. Unorganized players hold a healthy 43% revenue share of the market; small players also make up 42% of total share.
The organized segment of the vegan yogurt market is also highly fragmented, with a number of players vying for consumer attention. . Rising lactose intolerance is driving vegan yogurt companies to launch high-quality and nutritious products in the market.
Growing demand has also led processors to increase their production capacity. Meeting the varied tastes and preferences, without compromising on the nutritional quotient, remains a key focus area for vegan yogurt companies.
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Almond-milk Based Yogurt the Most Preferred Variant
Due to its low cholesterol and unsaturated fat content, almond milk is emerging as the most preferred non-dairy alternative for the production of vegan yogurts.
Apart from being devoid of cholesterol, almond milk yogurt can help reduce bad cholesterol owing to the presence of polyunsaturated fatty acids in its composition. Furthermore, consumption of almond yogurt has been linked with maintaining eye health, immunity, and digestive health.
Almond yogurt’s vitamin E-rich makeup provides for 50% of a human being’s daily vitamin requirement. With its high vitamin E content, almond yogurt provides the nourishment required to maintain healthy and glowing skin.
The array of benefits offered by almond-milk based yogurt has created a spike in the demand for the alternative yogurt variant. An increasing number of vegan yogurt companies have been taking note of the growing popularity of almond yogurt and are launching novel vegan yogurts with almond-milk as its basic manufacturing vegan ingredient.
Fear of Developing Antibiotic Resistance Creating Dent in Consumer Confidence
The use of antibiotics and hormones to increase milk production in cows and other cattle is suspected to be one of the major causes of the development of antibiotic resistance in humans.
A booming number of superbugs that are resistant to most antibiotics have emerged in the recent past. The discovery has been closely linked to the use of hormones and antibiotics in dairy and meat farming.
Further, stories of inhumane treatment of animals on farms have sparked global outrage. Stories of separating new-born baby calves from their mothers to the slaughtering of cows unable to produce milk were made public, resulting in a backlash against meat and dairy products.
Inefficient manure management techniques, coupled with increased manure produce is leading to the pollution of natural waterways and aquifers. The contamination of waterways and natural sources of water is gradually starting to take a toll on the health of the people situated in the vicinity of the dairy farms.
The indirect impact of dairy farming on human health and environment has further fuelled avoidance of dairy products. An overall grim view of dairy farming practices has resulted in an increasing number of people choosing non-dairy vegan products over dairy products.
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Regulatory Authorities Address Ambiguity Surrounding Vegan Products and Dairy Substitutes
Consumers around the world are uncertain regarding the nutritional and processing attributes for terming a product as vegan.
Further, using labels such as milk, cheese products, and yogurt for non-dairy substitutes has created confusion among consumers who often mistake the nutritional content of vegan products to be equivalent to their dairy counterparts.
Regulatory authorities around the world have stepped in to alleviate some of the consumer concerns.
For instance, the US Food and Drug Administration (FDA) is scrutinizing the standards of identity laid down for using dairy names for non-dairy products. The regulatory authority has issued a request for information (RFI) to garner feedback on how consumers use dairy substitutes and the way they comprehend terms like milk, yogurt, and cheese.
Through the survey, FDA plans to promote innovations in the production of vegan yogurt and other plant-based products. In a similar vein, the European Union has announced it would establish a definition of vegan food in 2019 which will lay the groundwork for labeling any product as vegan.
With the definition, EU aims to educate the consumers as well as lay down proper guidelines for companies involved in the production of vegan foods and beverages. Budding companies, as well as old market players, can leverage the information to streamline their strategies to tap into the extensive vegan consumer market base.
An Exponential Rise in the Global Vegan Population
A rapid spike in the global vegan population has bolstered the demand for vegan yogurts across the world.
More than 5% of the American population now identifies themselves as a vegan and recent trends suggest a likely gain is on cards as numerous people have expressed their interest in switching to a completely vegan diet. With over 300% increase in the number of vegans in the country, UK is now home to over 500,000 vegans.
Germany which is the largest producer of vegan food products has over 1 million vegans. In China, the government has released new dietary guidelines promoting the reduction of meat consumption and adoption of plant-based diet.
These initiatives are likely to bode well for ushering in the vegan revolution in China.. The increasing demand for vegan yogurt and other vegan products is being led by millennials who have been instrumental in promoting and expanding the vegan movement around the world.
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Vegan Yogurt Market – Definition
Vegan yogurt, an alternative to dairy-based yogurt, is usually made from milk substitutes obtained from soy, coconut or almond.
The raw materials in soy, coconut, and almonds are ground together with water to produce vegan yogurt which is rich in probiotics making it a healthy snack and an alternative for lactose intolerant population.
Vegan Yogurt Market – About the Report
Fact.MR has published a new report on the vegan yogurt market, which features exclusive information about the vegan yogurt market along with the market forecast for the period 2018-2028. The study on vegan yogurt market offers an elaborate coverage of all the market aspects impacting the vegan yogurt market.
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Vegan Yogurt Market – Market Structure
The vegan yogurt market report offers a detailed market breakdown on the basis of volume, value, Y-o-Y growth, and CAGR. The report segments the market on the basis of region, end use application, sales channel, and product type.
Vegan Yogurt Market – Additional Questions Answered
Apart from the aforementioned insights on vegan yogurt market, the report answers the following pivotal questions that stakeholders can use to expand their market presence in the global vegan yogurt market –
- Which is the most lucrative sales channel for vegan yogurt market?
- Based on end-use, which application will lead the vegan yogurt market in terms of revenue share?
- What are the profound trends that influence the vegan yogurt market?
- What are the key opportunities on offer in the vegan yogurt market?
- What are the major challenges that manufacturers are likely to face in the vegan yogurt market?
Vegan Yogurt Market – Research Methodology
The vegan yogurt market report sheds light on the elaborate and robust research process followed during the compilation of the report. A two-step research process in primary and secondary research was employed to unearth deep insights on vegan yogurt market.
The primary research phase during the preparation of vegan yogurt market involved comprehensive interviews of seasoned industry experts and thorough company case studies.
During the secondary research phase, thorough research of the vegan yogurt market databases along with industry-specific publications, trade journals, and paid sources was done to draw authentic inferences about the industry.
The report on the vegan yogurt market published by Fact.MR provides an insightful view of the market and identifies the key trends and factors that impact the vegan yogurt market.
A thorough analysis of all the micro and macroeconomic facets which influence the growth of the vegan market has been provided in the report. The vegan yogurt market also highlights the drivers, restraints, threats, challenges, and opportunities prevalent in the market.
Further, the report elucidates each market trend individually analyzing the qualitative and quantitative impact it can have on the growth of the vegan yogurt market.
Chapter 1 – Executive Summary
The chapter provides a complete overview of the market by enlisting the highlights of the vegan yogurt market in terms of size and value. Further, the chapter includes suggestions and recommendations offered by experts on the vegan yogurt market.
Chapter 2 – Market Introduction
The chapter divides the vegan yogurt market on the basis of product type, end-use application, region, and sales channel. Moreover, the section offers a formal definition of the market.
Chapter 3 – Market View Point
The chapter enlists the macroeconomic factors and indicators that impact the market. Furthermore, the chapter provides an overview of the non-dairy yogurt and food and beverages market. It further provides a detailed analysis of the non-dairy yogurt market consumer base.
Chapter 4 – Global Historical Market Analysis 2013-2016 and Forecast 2017-2028
The section lays down the market size and year on year growth in the past and the expected growth during the forecast period.
Further, it enlists the drivers, restraints, and absolute dollar opportunities prevalent in the vegan yogurt market. A thorough pricing analysis along with supply chain scrutiny is also provided under this chapter.
Chapter 5 – Global Non-dairy Yogurt Market Historical Analysis 2013-2016 and Forecast, By Regions 2017-2028
The chapter divulges all the key findings that have impacted the vegan yogurt market during the 2013-2016 period.
Further, the chapter provides an authentic forecast in terms of market size and value of the non-dairy yogurt market on the basis of geographic regions during the 2017-2028 period.
Chapter 6 - Global Non-dairy Yogurt Market Historical Analysis 2013–2016 and Forecast 2017–2028, By Product Type
The chapter enlists historical trends that influenced the vegan yogurt market in the recent past based on their product types. It further provides a forecast of the non-dairy yogurt market in terms of market value and size based on each of the identified product type.
Chapter 7 - Global Non-dairy Yogurt Market Historical Analysis 2013–2016 and Forecast 2017–2028, By End-use
The section provides a detailed analysis of the key historic trends that impacted the size and value of the market based on its end-use applications.
The section further goes on to highlight the forecast of the vegan yogurt market based on the identified end-use applications.
Chapter 8 - Global Non-dairy Yogurt Market Historical Analysis 2013–2016 and Forecast 2017–2028, By Sales Channel
The chapter provides a detailed market breakdown by dividing the vegan yogurt market on the basis of sales channels.
Further, the chapter provides a detailed overview of the current, historic, and future market size and share on the basis of the sales channels identified under the section.
Chapter 9 - North America Non-dairy Yogurt Market Analysis 2013–2016 and Forecast 2017–2028
The chapter thoroughly analyzes the North American region and presents the current, past, and future market trends.
Further, it provides invaluable insights by dividing the region further into Canada and USA. A detailed analysis of the region’s market trends based on product type, end-use application, and sales channel is also presented under this section.
Chapter 10 - Latin America Non-dairy Yogurt Market Analysis 2013–2016 and Forecast 2017–2028
The section provides an elaborate analysis of the Latin American region by dividing into major countries where a flourishing vegan yogurt market exists.
The chapter further breaks down the market on the basis of product type, end-use applications, and sales channel to provide an even detailed analysis of the vegan yogurt market in the Latin American region.
Chapter 11 - Western Europe Non-dairy Yogurt Market Analysis 2013–2016 and Forecast 2017–2028
The chapter sheds light on the vegan yogurt market that exists in the Western European region.
Apart from analyzing the market trends that are prevalent in the region, the section scrutinizes the region further on the basis of specific countries, product types, end-use applications, and sales channel.
Chapter 12 - Eastern Europe Non-dairy Yogurt Market Analysis 2013–2016 and Forecast 2017–2028
The section provides a detailed analysis of the vegan yogurt market which exists in the Eastern European region.
Under the section, a thorough analysis of the market on the basis of countries, product types, end-use applications, and sales channel has been provided.
Chapter 13 - Asia Pacific Excluding Japan (APEJ) Non-dairy Yogurt Market Analysis 2013–2016 and Forecast 2017–2028
The section provides a thorough analysis of the non-dairy yogurt market in the Asian Pacific Excluding Japan region. The chapter further provides detailed insights into the market by dividing the market in the region in terms of specific countries, sales channels, product types, and end-use applications. Trends specific to the region have also been presented under the section
Chapter 14 - Middle East and Africa Non-dairy Yogurt Market Analysis 2013–2016 and Forecast 2017–2028
The section highlights the current market trends prevalent in the Middle East and African region. The report further divides the region on the basis of specific countries and analyzes the vegan yogurt market in terms of product types, end-use applications, and sales channels.
Chapter 15 - Japan Non-dairy Yogurt Market Analysis 2013–2016 and Forecast 2017–2028
The chapter sheds light on the current, past and future market trends that impact the non-dairy yogurt market. Further, the chapter analyzes the market on the basis of product types, end-use applications, and sales channels.
Chapter 16 - Forecast Assumptions and Acronyms
The chapter lays down the assumptions that have been made during the preparation of the forecast. Further, it provides the full forms of the acronyms used throughout the report.
Chapter 17 – Competition Landscape
The section provides an overview of the market structure and identifies the key players in the market. A dashboard profile of each of the key market players sheds light on the company’s global footing, market presence, revenue share, product portfolio, and notable business developments.
Chapter 18 – Research Methodology
The chapter explains the thorough and robust research methodology followed during the course of creation of the report. The section identifies two major phases of research in primary and secondary research and elucidates on the procedures followed under each of them.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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