Market Dynamics:
The vegan yogurt market is witnessing high growth owing to rising health and fitness consciousness among consumers globally. The increasing prevalence of lactose intolerance and milk allergies have made consumers switch to non-dairy and plant-based options like vegan yogurt. Additionally, growing vegan population and veganism trend has boosted demand for vegan substitutes like vegan yogurt. Furthermore, plant-based yogurt offer similar nutrition profile as dairy yogurt and are rich in protein and probiotics, which appeal to health-conscious consumers. Manufacturers are introducing innovative flavors and formats like single-serve cups to attract new consumers. However, high prices of vegan yogurt compared to dairy yogurt may hamper market growth.
Key Takeaways
The Global Vegan Yogurt Market Size is expected to witness high growth, exhibiting CAGR of 18.5% over the forecast period, due to increasing consumer demand for plant-based dairy alternatives. North America currently dominates the vegan yogurt market owing to rising vegan population. Europe also captures a significant share on account of growing health awareness. The Asia Pacific region is anticipated to offer lucrative opportunities with countries like India and China emerging as high growth markets.
