Analysis of Vegan Yogurt market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
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.
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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.
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.
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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.
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.
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, 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.
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.
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.
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 –
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.
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The Global Market For Vegan Yogurt Is Anticipated To Grow At A Value CAGR Of 4.8% During The Forecast Period.
Some of the key players in global market are Hain Celestial Group Inc., Stonyfield Farm Inc., Daiya Foods Inc., Good Karma Foods Inc. and many more.
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