In 2022, the non-dairy yogurt market was valued at approximately US$ 2,458.17 million and is projected to grow to around US$ 5,908.01 million by 2030, reflecting a compound annual growth rate (CAGR) of 11.6% during the period from 2022 to 2030.
Non-dairy yogurts are primarily produced from almond milk, soy milk, and coconut milk, all of which are naturally lactose-free. These plant-based alternatives mimic the texture, creaminess, and consistency of traditional yogurt. Additionally, many non-dairy yogurts are enriched with essential nutrients like protein and calcium, catering to the daily dietary needs of consumers. Individuals who are lactose intolerant are often advised to follow a lactose-free diet to prevent allergic reactions and digestive issues such as diarrhea, bloating, and nausea. Similarly, those with milk allergies are encouraged to opt for plant-based dairy alternatives. Consequently, there is a growing demand for easily digestible options that can satisfy nutritional requirements, which is significantly propelling the non-dairy yogurt market.
Furthermore, there is a rising consumer preference for products made from natural and ethically sourced ingredients, driven by a trend towards holistic and conscious eating. A study conducted by Symrise in August 2020 revealed that approximately 43% to 49% of consumers surveyed in Mexico, Argentina, Brazil, and Colombia were willing to pay a premium for products containing natural ingredients. This growing inclination towards organic products is expected to create significant opportunities for the non-dairy yogurt market in the coming years. Additionally, consumers are increasingly gravitating towards plant-based or vegan-friendly options due to heightened health concerns and a growing awareness of animal welfare. The surge in health consciousness, spurred by rising rates of obesity, diabetes, and other health issues, is prompting individuals to modify their eating habits. As a result, health-conscious consumers are replacing traditional animal-based products with plant-based alternatives, indicating that the trend of veganism is likely to gain momentum in the non-dairy yogurt sector during the forecast period.
In 2022, Europe dominated the global non-dairy yogurt market in terms of revenue. The demand for plant-based dairy products is on the rise in Europe, driven by a shift in consumer preferences from animal proteins to plant proteins. This transition is influenced by various factors, including sustainability concerns, health awareness, ethical or religious beliefs, environmental issues, and animal rights advocacy. The World Health Organization (WHO) has noted that consuming natural fats and proteins, such as those found in coconut and soy, can provide numerous health benefits, including promoting gut health. The increasing consumer preference for plant-based dairy options has prompted manufacturers to implement growth strategies, including product innovation and business expansion, to meet the rising consumer demand. For instance, in 2020, Danone, a company based in France, introduced a range of dairy-free yogurt drinks designed to offer a smooth and creamy texture without dairy, thereby enhancing its presence in the dairy-free market. This initiative aimed to cater to vegan consumers and also allowed the company to broaden its product offerings and global business reach. Such developments are expected to further stimulate the demand for dairy-free products in the region, contributing to the growth of the non-dairy yogurt market.
Key players in the global non-dairy yogurt market include The Hain Celestial Group Inc, Danone Sa, Springfield Creamery Inc, Lyrical Foods Inc, Coyo Pty Ltd, Valio Ltd, Oatly Group Ab, Daiya Foods Inc, Forager Project LLC, and Harmless Harvest Inc. These companies are actively engaged in strategic initiatives such as research and development, mergers and acquisitions, market expansion, and the launch of new products to deliver high-quality and innovative offerings.
The overall size of the non-dairy yogurt market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included vice presidents, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the non-dairy yogurt sector.