Vegan Yogurt Market Opportunities, Challenges, Strategies & Forecasts Report

Posted on 2019-08-01 by Mark Hub in Accounting // 0 Comments

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.

The vegan yogurt market is expected to continue its bullish run, driven by a combination of macroeconomic and industry-specific factors. Gains have been driven by vegan yogurt’s availability in a variety of flavors, and the ubiquitous health and wellness trend. These factors helped vegan yogurt sales increase by over 30,000 metric tons in 2018 over 2017, according to recent analysis by Fact.MR.

The Fact.MR study opines that almond yogurt remains the bestseller, accounting for more than half of total vegan yogurt sales in 2018. The trend is expected to prevail as vegan yogurt companies continue to introduce new almond-milk based yogurt products to meet consumers’ taste preferences while enhancing the vegan yogurt’s nutritional value.

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.

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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.

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.

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.

Households Account for 80% Consumption of Vegan Yogurt

Fact.MR finds that over 80% of vegan yogurt is consumed in households. Further, the compact packaging of vegan yogurt allows the consumer to eat it on-the-go, making it an attractive snacking option for busy consumers.

The use of vegan products in food chains and restaurants is gradually gaining traction; the study found moderate growth in the utilization of vegan yogurt and products in the food service industry. Although households dominate overall consumption, demand for vegan yogurt from households and HORECA is growing at comparable rates.

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.

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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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