Dairy-free Yogurt Market Analysis 2021 Global Industry Forecast To 2023: By Size, Growth, Trends, Share, And Regional Revenue
Research Reports
Jan 07, 2021
Market Statistics
The Market Research Future (MRFR) covers an array of aspects on the global dairy-free yogurt market. The report published by MRFR on the market states that it is expected to garner a lucrative CAGR over the forecast period (2018-2023) and grow to a substantial valuation by 2023.
Market Highlights
The increase in number of people practising veganism is likely to impel the diary-free yogurt market growth. The inclination of people towards plant based products, as health-consciousness trends is also expected to bolster the diary-free yogurt market growth. The ease of availability of plant-based products, in store can reinforce the diary-free yogurt market growth. The amplification of the diary-free yogurt free market growth is noted, as the e-commerce sector is proliferating at a rapid rate.
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Segmental Overview
The dairy-free yogurt market has been segmented based on category, product type, distribution channel, and packaging type.
Based on the product type, the dairy-free yogurt market has been segmented soy, almond, coconut, rice, and others. Owing to the surge in the consumption of soy milk, the soy segment is likely to attain an impressive growth over the review period. The outspread awareness about health benefits of coconut milk is spurring its rate of production. Hence, the coconut segment is surmised to expand registering a lucrative CAGR over the forecast period.
On the basis of category, the global dairy-free yogurt market has been segmented into organic and conventional. Concerning revenue, the conventional segment is anticipated to secure the highest market share. The increase in the cultivation of plants using conventional farming methods that use pesticides and chemical fertilizers is identified as a driver that can bolster the proliferation of the conventional segment. As health consciousness trends, the demand for organic product is noted to surge. This, in turn, is likely to augment the organic segment growth.
On the basis of form, the market has been segmented into pouches, tubs, and others. The high degree of convenience tubs offer is likely to reinforce the tub segment expansion. The segment is expected to register the highest CAGR and is indicative to touch a substantial valuation over the forecast year.
Based on the distribution channel, the dairy-free yogurt market has been segmented into non-store based and store based. The store-based segment is classified into convenience stores, hypermarkets & supermarkets, and others. The non-store based segment is anticipated to grow garnering a lucrative CAGR over the review period. The enhanced longevity of shelf life for products which are available in hypermarkets and supermarkets is anticipated to impel the non-store based segment grow. The store based segment growth is expected to escalate at high pace as the e-commerce sector proliferates.
Regional Outlook
Based on the region, the diary free yogurt market has been studied across North America, Europe, Asia Pacific, and the Middle East Asia and Africa.
The North American diary-free yogurt market is expected to lead in the global market. The hike in number of vegan people and inclination of people towards consumption of plant product in the region is likely to spur the regional market expansion. The diary-free yogurt market in the Asia Pacific region is also observed to boom due to the increase in preference of plant based products. The high prevalence of lactose intolerance in the Asia Pacific region is also expected to spur the diary-free yogurt market.
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Key Players
Top-notch companies which are operating in the dairy-free yogurt market are; Hain Celestial (US), Danone S.A. (France), Forager Project (US), COYO Pty Ltd (Australia), Lavva (New York), Good Karma Foods, Inc. (US), The Coconut Collaborative (UK), Granarolo SpA (Italy), NANCY’S (US), and Daiya Foods Inc. (Canada).
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