Vegan Yogurt Market Is Anticipated To Grow At A Value CAGR Of 4.8% By 2028

The popularity of "mindful choices" and evolving taste preferences have contributed to the rapid adoption of plant-based yoghurt, which has been accompanied by an increase in cases of lactose intolerance. In order to satisfy the diverse needs of consumers, businesses, both large and small, are expanding their portfolios with a variety of flavours, textures, and compositions, according to Fact.MR's most recent analysis on the Plant-Based Yoghurt Market.

According to the study, growing awareness about the health impact of consuming dairy products on a daily basis has led consumers to seek feasible alternatives. Increasing concerns about antibiotic resistance and ethical concerns surrounding the inhumane practices employed in dairy farming are triggering a shift to whole plant-based diet. According to the report, as various health organizations have approved plant-based yogurts of fulfilling the nutritional parameters required to replace yogurt manufactured from milk, consumer confidence in these products has remained positive.

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The Fact.MR study opines that positive word-of-mouth and celebrity endorsements are also influencing consumers to shift to a plant-based diet. The quick and easy procurement of ingredients required for the production of plant-based yogurt shields companies from the volatilities associated with the market while saving them valuable time to market. Additionally, the ingredients allow food companies to maintain their brand positioning by circumventing the association with the negative outlook that has been formed against dairy farming.

Vegan Yogurt as Healthy Snacking Creating Opportunities for Brands

Vegan yogurt has been gaining immense popularity as a healthy snacking option for the busy and health conscious global population. The vegan product is being marketed as a healthy snack that caters to the consumers’ taste preferences while providing them with the required dosage of proteins, antioxidants, vitamins, and minerals. Further, food companies are selling vegan yogurt products in compact packaging allowing consumers to conveniently eat it on-the-go. Due to these factors, 80% of the total vegan yogurt sold in 2018 was utilized in households. On similar lines, the utilization of vegan yogurt in restaurants and food chains is anticipated to grow at a comparable rate with companies looking to capitalize on the current market scenario.

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A recent Fact.MR report opines that the APEJ region is expected to approximately value at over $3.5 billion by the end of 2019. The exponential growth of the market in the region can be attributed to changing consumer preferences and flourishing economies in the multiple countries in the region.