A recent market report states that the global market for vegan yogurt is currently valued a US$ 2.2 billion and is set to increase at a robust 8.9% CAGR, reaching a market valuation of US$ 5.1 billion in 2032, with offline sales accounting for the dominant share.
Dairy-free yogurts are being launched using milk obtained from grains, seeds, and nuts such as coconut, hazelnuts, macadamia, almond, pistachios, pili, and cashew, as well as from flax, soy, and hemp seeds.
Recent product launches in vegan yogurt
- Silk, a Danone subsidiary, launched a vegan range of Greek yogurts consisting of Vanilla, Strawberry, Lemon, and Blueberry, produced with a coconut milk base, stating that until now, so far plant-based alternatives have ” struggled to deliver” in terms of the thickness and texture of Greek-style yogurt.
- The Chinese subsidiary of Munich-based NOIX AG was awarded the Good Food Award by China’s Good Food Fund for its almond-based yogurt brand Jooma
- Danone subsidiary So Delicious announced a new line of Coconutmilk Yogurt Alternatives with Botanical Extracts.
- CHKP Foods debuted a line of chickpea yogurts at this year’s Expo West
- Starbucks launched a vegan yogurt drink “Pine Coco Green Yogurt Blended” in Korea, marking the first time anywhere in the world that Starbucks has used plant-based yogurt in a beverage
The report finds that an increase in lactose intolerance among consumers and rising expenditure on plant-based foods in North America and Europe are expected to drive the market, as well as a high demand for vegan yogurts which contain live probiotics and for innovations such as hemp milk and flax seed yogurt. Demand in the chocolate segment is expected to remain high and the almond milk vegan yogurt segment is forecast to gain traction.