Vegan Yogurt Market, By Source (Soy, Almond, Oats, Coconut, and Others), By Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Specialty Stores, Online, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : May 2024

Code : CMI5427

Pages :120

Formats :

Excel and PDF

Industry : Food and Beverages

Challenges: Higher price of vegan yogurts: One of the key challenges faced by the vegan yogurt market is the comparatively higher price of vegan yogurts versus regular dairy yogurts. As vegan alternatives require specialized plant-based ingredients and production processes, the final costs are often significantly greater. In addition, many consumers are still unfamiliar with vegan products and skeptical about their taste and nutrition. Establishing brand recognition and educating people about the advantages of vegan options take time.

Opportunities: Product innovation and new flavors: Product innovation and new flavors present a significant opportunity for growth in the vegan yogurt market. As consumers become increasingly health-conscious and environmentally friendly, the demand for plant-based foods will continue rising. According to data from the United Nations' Food and Agriculture Organization, the sales of vegan food increased by 250% from 2014 to 2019 due to rising awareness of nutrition, sustainability and ethical values. Vegan yogurt companies that experiment with unique flavors, ingredients, and textures will be able to capture more market share and attract new customers. Offering exotic and international flavors can appeal to adventure-seeking consumers. Developing protein-rich yogurts made from ingredients like lentils, chickpeas, or nuts satisfy the demand for non-dairy options that provide similar nutritional benefits to dairy. Creating varieties with intriguing mix-ins like granola, seeds or fruit fillings give consumers exciting new combinations to explore. Some innovative companies are even developing vegan yogurts that mimic properties of dairy yogurt like thickness through use of novel plant-based stabilizers.