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Plant-Based Yogurt Market: Market Outlook

Plant-based products are nothing but those products which do not contain ingredients directly or indirectly related to animals. Milk is derived from different cereals, legumes, nuts, or seeds and then different products like yogurt, cheese, butter, ice-cream, dressing sauces, cream, and many more. The Mediterranean who wants to find the balance between meat consumption and dairy products are mostly preferring such plant-based products. Plant-based yogurt has a high nutritional value, and most importantly now they are available in a variety of flavors.

Plant-based yogurts are lactose, gluten-free, low on sugar but rich in Probiotics and Vitamins like B12. Soy, coconut, and cashew-based yogurt have gained more attention from consumers because of its texture which almost resembles dairy yogurt. Elizabeth Fisher, CEO of Lavva yogurt, made yogurt in 2017-18 using pili nut and coconut milk which is high in fats, helped her recover from stage four Ovary Cancer (a compliment to her treatment). Comparatively low on Calcium, Vitamin D, added sugar, thickening additives, nut allergy, and others become restraining factors for plant-based yogurt market.  

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 Plant-Based Yogurt Market: Market Dynamics

Increase in demand for Plant-based yogurt due to a decrease in dairy product consumption

The Rising number of lactose and gluten intolerance, the sour taste of dairy yogurt, and allergy of cow milk are being the reason for the reduced consumption of dairy products. In return, increase in demand for plant-based yogurt knowing its functional value.

Increase in demand for Plant-based Yogurt due to increased Flexitarians and Veganism

Flexitarians are open to exotic flavors. They love to experiment with their diet and prefer new flavors of yogurt. Growing concerns about animal welfare in also increasing the percentage of veganism in the overall customers. These factors are driving the plant-based yogurt market.

Manufacturers offering unique features in Plant-based yogurt to drive sales

Producers of plant-based yogurts are offering not only a variety of yogurts bases but also amazing flavors like strawberry, blueberry, coffee, peach, etc. They are also coming up with innovative flavors like sea-salt chocolate or turmeric golden. These yogurts are best-liked by weight and health-conscious, gourmet, and kids.

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Plant-Based Yogurt Market: Segmentation

On the basis of nature, the global Plant-Based Yogurt market has been segmented as

  • Conventional
  • Organic

On the basis of source type, the global Plant-Based Yogurt market has been segmented as

  • Cereal
    • Rice
    • Oats
    • Barley
    • Emmer
    • others
  • Legume
    • Chickpeas
    • Adzuki Beans
    • Fava beans
    • Lentils
    • others
  • Nuts
    • Almond
    • Cashew
    • Hemp
    • Coconut
    • Soy
  • Seed
  • Pseudo Cereal

On the basis of flavor, the global Plant-Based Yogurt market has been segmented as

  • Regular
  • Strawberry
  • Vanilla
  • Coffee
  • Raspberry
  • Blueberry
  • Cherry
  • Peach
  • Coconut
  • Others

On the basis of application, the global Plant-Based Yogurt market has been segmented as

  • Bakery
  • Snacks
  • Desserts

On the basis of the distribution channel, the Plant-Based Yogurt market has been segmented as

  • Supermarket/Hypermarket
  • Specialty Stores
  • Convenience Store
  • Online Retailing

On the basis of end-use, the Plant-Based Yogurt market has been segmented as

  • Household Retail
  • Food Service

On the basis of region, the global Plant-Based Yogurt market has been segmented as

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific
  • The Middle East and Africa

Plant-Based Yogurt: Key Player

In the market currently, WhiteWave Services, Inc., Green Valley organics, Hain Celestial, Danone, General Mills Inc., Stonyfield Farm, Inc., Ripple Food, Daiya Foods, Nancy's Yogurt, Califia Farms, Kite Hill, Yoconut Dairy Free, COYO Pty Limited, Chobani LLC, Granarolo Group, GOOD KARMA FOOD,Inc., etc have dominant position.

Global Plant-Based Yogurt Market: Opportunities:

Tier 1 companies may introduce a new yogurt with a variety of flavors and additional functional value, to gain a competitive advantage over one another. Since there is an increase in demand, new players may enter the market with unique ideas and offering products in different segments to get the edge over tier 1 players. Instead of investing a huge amount into animal farming, entrepreneurs may invest in plant-based products facilities. USA FDA had announced to assist and promote innovative dairy alternative, plant-based products, which will bolster the entry of new players.

Plant-Based Yogurt: Regional Outlook:

Due to trendy Veganism and an increased number of Mediterranean, the plant-based yogurt market is skyrocketing in the North American and the European markets. Social media promotions are helping to increase the sale and it is considered to remain the same for upcoming years. Health benefits and distinctive tastes offered by plant-based yogurt is attracting consumers from developing economies of Asia. Plant-based products have already penetrated India, Brazil, China, and other countries to great extent. The Middle East and African market slowly showing positive inclinations towards plant-based yogurt, and it will be better in the future due to its multiple application in the food industry.

COVID-19 Impact on Global Plant-Based Yogurt Market:

Medical studies have proved that products enrich with proteins, vitamins A, B12, C, and D, minerals help boost the immune system. Plant-based yogurt contains such necessary functional elements. And hence, it has shown a positive impact on the sale of plant-based yogurt. Demand has shown a positive outlook, whereas the lack of raw material and shutdown has shown a negative impact on the supply side, but in the future, COVID-19 will have a moderate influence on the plant-based yogurt market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Plantbased Yogurt Market

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