Vegan Yogurt Is Estimated To Witness High Growth
The vegan yogurt market is estimated to be valued at US$ 3.6 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The Global Vegan Yogurt Market Growth is expected to witness high, exhibiting a CAGR of 18% over the forecast period, due to increasing health consciousness and shift towards veganism.
The North American region dominates the vegan yogurt market and is expected to continue its dominance, owing to rising lactose intolerance, presence of major producers and a growing vegan population. Europe is the second largest market mainly driven by UK, Germany and France. Asia Pacific is expected to be the fastest growing market with countries like India and China emerging as lucrative opportunities.
Key players operating in the vegan yogurt market are 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. The players are focusing on new product launches, mergers & acquisitions and geographical expansions to gain an edge in the competitive market space.
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