According to the market report “Non-dairy Yogurt Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 to 2025”, the global market for plant-based yoghurts is experiencing growth due to rising consumption during this forecast period. This is mainly due to the introduction of new flavours and varieties, as well as growing awareness of the health benefits.
TMR Research’s market report examines the various segments of the vegan yoghurt market for the period 2017 to 2025. It predicts an increase in the consumption of plant-based or non-dairy yoghurts based on their health benefits and environmental concerns.
This trend, which is also forecast in many other market reports on vegan products such as ice cream or beetroot powder, will be reinforced by the introduction of new products and flavours, according to the report. In addition, people with milk allergies and lactose intolerance could significantly increase the demand for dairy-free yoghurt. Two other important multipliers of market growth are the high nutritional value of the products and the growing demand for low-fat yoghurts – both of which are gaining in importance due to the rise in the number of health-conscious people.
With regard to regional segmentation, it is forecast that the European market for plant-based yoghurts will be more significant than the others due to the strong influence of the UK and France. On the other hand, strong advertising and marketing efforts are predicted by players in the Asia-Pacific region in order to significantly expand market opportunities there. The rising disposable income of consumers in this region also offers great growth opportunities.
In general, the market report makes it clear that the increasing number of companies in this sector is creating intense competition. In addition, the entry of new market participants could significantly increase growth opportunities for the market. Most stakeholders are expected to focus on innovation and new product development to strengthen their position in the market or to attract a large number of consumers. The report mentions “General Mills” and “WhiteWave Foods” as leading companies.