Global Yogurt Alternative Market Overview
Due to the marvellous consumer demand for nutritional & healthy ingredients, such as yogurt alternative in baked foods, the use of plant-based diet per serving is in high order. The rising rate of obesity and the aging population have propelled the use of yogurt alternatives to the forefront. The yogurt alternative market is expected to grow at a single-digit CAGR. The yogurt alternatives market is anticipated to showcase significant growth in the forecast period due to the rising demand for multifunctional protein across the regions.
Global players are expected to witness a growth in the demand for yogurt alternative majorly from vegan and health-conscious consumers. Key players are expected to continue expanding their production capacities and enhance the capabilities with the incorporation of latest technologies. The yogurt alternative market has witnessed significant growth, which is attributable to a rise in the awareness about the critical health benefits associated with the consumption of these kind of food products. Since, there is a limited production of yogurt alternative, most major shareholding manufacturers are now strategizing on improving their distribution base in the global yogurt alternative market to make sure the product is readily available to its target customers.
Global Yogurt Alternative Market Dynamics
Continuous Introduction of New Products
Rising awareness and increasing disposable income have influenced people to opt for health-efficient products forcing manufacturers to launch numerous vegan ingredients including yogurt alternative.
- For instance; In July 2016, Döhler acquired Tea wolf Inc., a manufacturer of botanical extracts and natural ingredients such as yogurt alternative.
Growing health concerns have resulted in the demand for yogurt alternative over the past few years. Yogurt alternative manufacturing companies have also shown a keen interest in expansion through product development or increasing their product manufacturing capacity. Yogurt alternative manufacturers are currently focusing on innovative technologies and acquiring companies with strong technological production base.
- In August 2017, the company acquired Ganeden, a U.S.-based leading technology innovation company.
- In 2017, Kerry opened a new global technology and innovation centre in Ireland. Through this centre, the group intends to serve its global and regional customers in the EMEA region.
With the increased consumption of vegan products, drug manufacturing companies have enhanced their market presence with the production of new innovative products such as yogurt alternative, coupled with expanding production capacities of their existing manufacturing facilities. This has led to an increase in the sales of yogurt alternative, which is expected to continue over the forecast period.
Manufacturers’ Focus on Plant-based Alternatives
Brazil is observing greater dairy alternatives such as yogurt alternative with the help of plant hydrocolloids as alternatives. Due to an increase in the consumer demand along with strong non-vegan demographics, the market for plant hydrocolloids is anticipated to grow exponentially in the following years. The yogurt alternative manufacturers are stepping up their efforts in producing and selling plant-based products to meet the rising demand of consumers for yogurt alternative. Due to primary factors such as challenges of navigating the supply chain of Brazil and high import costs, most of the leading brands holding plant hydrocolloids substances are domestic. The yogurt alternative trend is expected to grow with the retailers increasing efforts in associating directly with the overseas suppliers.
Negative Publicity and False Promising
Many published articles and news items have focused on the false promises and claims made by yogurt alternative manufacturers. Some articles were published regarding the adverse effects of yogurt alternative.
- In 2017, according to a study conducted in a U.S. university, 500,000 people consumed yogurt alternative regularly. The study concluded that yogurt alternative did not provide adequate benefits to the consumers as claimed by the manufacturers, and if consumed in excess quantity causes some side effects.
Global Yogurt Alternative Market Segmentation
The global Yogurt Alternative market can be segmented on the basis of source as:
- Soy Milk
- Almond Milk
- Oat Milk
- Hemp Milk
- Coconut Milk
- Rice Milk
- Other Product Types
The global Yogurt Alternative market can be segmented on the basis of product type as:
- Plain Sweetened
- Plain Unsweetened
- Flavoured Sweetened
- Flavoured Unsweetened
The global Yogurt Alternative market can be segmented on the basis of component as:
- Other Components
The global Yogurt Alternative market can be segmented on the basis of packaging type as:
The global Yogurt Alternative market can be segmented on the basis of end use as:
The global Yogurt Alternative market can be segmented on the basis of sales channel as:
- Modern Trade
- Specialty Stores
- Convenience Store
- Independent Retailers
- Online Retailers
- Other Sales Channels
The global Yogurt Alternative market can be segmented on the basis of the geographical region as:
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
Global Yogurt Alternative Market Key Players
Some of the key market participants in the global Yogurt Alternative market are:
- THE WHITEWAVE FOODS COMPANY
- THE HAIN CELESTIAL
- BLUE DIAMOND GROWERS
- SANITARIUM HEALTH AND WELLBEING COMPANY
- FREEDOM FOODS GROUP
- EDEN FOODS
- NUTRIOPS S.L
- EARTH’S OWN FOOD COMPANY
- TRIBALLAT NOYAL
- VALSOIA S.P.A.
- DÖHLER GMBH
- PANOS BRANDS
- ORGANIC VALLEY
- OTHER PROMINENT PLAYERS
The research report presents a comprehensive assessment of the Yogurt Alternative market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Yogurt Alternative market segments such as geographies, source, product type, component, end-use, packaging type, and sales channel.
The Yogurt Alternative market report covers exhaustive analysis on:
- Yogurt Alternative Market Segments
- Yogurt Alternative Market Dynamics
- Yogurt Alternative Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis for Yogurt Alternative Market includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics, Eastern Europe, Rest of Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea, Australia & New Zealand, Rest of APEJ)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel, Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of Yogurt Alternative. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation of Yogurt Alternative.
- Historical, current and projected market size of Yogurt Alternative in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Fact.MR offers custom research services that help clients to get specific research solutions