Burlingame, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The global vegan yogurt market was valued at US$ 2.25 billion and is expected to exhibit a CAGR of 19.25 % the forecast period (2022-2030).
Key Trends and Analysis of the Global Vegan Yogurt Market:
During the forecast period, the growing global vegan yogurt market in emerging economies is expected to drive the demand of vegan food in the market. Increasing the consumption of easy fast food such as smoothies and breakfast cereals can helps to boost the global vegan yogurt market growth.
Due to the wide variety of product and tastes of vegan food has seen essential growth in the global vegan yogurt market in forecast period. Food manufacturers are continuously incorporating vegan food in a variety of processed foods which will boost the sales of vegan food such as yogurt in the coming years.
On the basis of vegan yogurt, the increasing number of new startups offering vegan yogurt and the expansion of food service industry will further drive the vegan yogurt market growth in the upcoming years. Furthermore, in October 2020, a plant based food Manufacture Company, Soya rich Foods announced to launch a new vegan yogurt, ‘Yofu’ which is available in various flavors such as mango, cinnamon, cherry, and apples.
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Key Market Takeaways
The global vegan yogurt market is expected to exhibit a CAGR of (19.25%) over the forecast period (2022-2030). Globally, the vegan food market is anticipated to expand at a robust pace over the next ten years, due to the increasing number of plant-based alternative startups and rising consumer demand for healthy and organic products.
Major players are using different strategies such as mergers, acquisitions, and capacity expansion, owing to rising demand for vegan yogurt. For instance, in 2020, a plant based food Manufacture Company ‘Danone S.A.’ launched a new product, ‘Silk Kids Almond milk Yogurt Alternatives’ a plant based yogurt which is especially formulated for children. For the children’s nutrition requirement, the product is made from broad bean protein, almond milk, and organic coconut oil and is covered with Vitamin D and calcium. The yogurt is available in various flavours such as apple cinnamon, mixed berry, and strawberry.
Competitive Landscape:
Major players operating in the global vegan yogurt market include Barambah Organics Pty Ltd., Blue Diamond Growers, Daiya Foods Inc. (Otsuka Pharmaceutical Co. Ltd.), Dean Foods (Dairy Farmers of America), General Mills Inc., Granarolo S.P.A., The Hain Celestial Group Inc., Vitasoy, White Wave Foods (Danone), Danone S.A., Oatly A.B., Forager Project, Coyo Pty Ltd., Chobani Global Holdings, and Kite Hill.