VEGAN YOGURT MARKET ANALYSIS

Vegan Yogurt Market Size and Trends

The vegan yogurt market is estimated to be valued at USD 3.63 Bn in 2024 and is expected to reach USD 11.98 Bn by 2031, growing at a compound annual growth rate (CAGR) of 18.6% from 2024 to 2031.

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The vegan yogurt market is expected to witness significant growth over the forecast period. Factors such as increasing health consciousness among consumers, rising awareness about dairy-free and plant-based diets, growing vegan population and lactose intolerance cases are expected to drive the demand for vegan yogurt. In addition, rising disposable income globally and changing dietary patterns are further expected to support the growth of the vegan yogurt market globally between 2024 and 2031.

Health-conscious Consumers

The changing food preferences and focus on health among millennial consumers have been a major driver for the growth of the vegan yogurt market. Younger consumers today are more concerned about the ingredients in their food and the impact on the environment. With increasing awareness about diseases like diabetes and obesity, people are seeking out dairy alternatives that are low in sugar and cholesterol-free. Vegan yogurt provides a nutritious option for those following a plant-based or vegan diet as it contains probiotics for gut and digestive health similar to dairy yogurt. The clean label and lack of animal products make vegan yogurt an attractive choice for health-conscious shoppers who scrutinize labels. Food allergies and intolerances too are driving some consumers to dairy-free alternatives like vegan yogurts made from coconut, almonds or soy. As people strive to make wiser choices in their diet, the vegan yogurt market has benefited from this trend of consumers focusing on wellness and clean eating.

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The growing preference for plant-based food and lifestyle has massively propelled the demand for vegan yogurt. Ethics and sustainability are becoming important factors for an increasing number of shoppers who seek products that are better for animals and the planet. With documentaries and trends bringing awareness about issues in the dairy industry and animal agriculture, more people are switching to a vegan or vegetarian diet. At the same time, flexible or reduced-meat diets are encouraging the exploration of plant-based milk substitutes. Vegan yogurt serves as a perfect swap for dairy yogurt in terms of taste and texture for these flexitarians. Product innovation catering to this demand has seen the launch of several varieties of vegan yogurt made from ingredients like coconut, almonds, cashew, soy, and oats. Cultural diversity has also fuelled growth as immigrants seek familiar yogurt flavors within their adopted vegan or lactose-free diets. The rising consciousness around health, ethics, and the environment has elevated demand for plant-based foods including vegan yogurts significantly.