The Vegan Yogurt Market is being driven by Frequent launches of new vegan yogurt varieties
The Vegan Yogurt Market is expected to grow at a CAGR of 23.31% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 7190.3 million. The global vegan yogurt market is experiencing significant growth due to the increasing penetration of this product through online channels. Consumers are increasingly opting for purchasing vegan yogurt and other groceries online, as it offers convenience, same-day delivery, and various discounts and offers. Online retailers, including manufacturers' websites, e-commerce platforms, and third-party sites, are becoming the fastest-growing distribution channels for vegan yogurt. This shift towards online sales is expected to continue during the forecast period, driven by the convenience and benefits offered by e-commerce platforms.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
158 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 23.31% |
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Market growth 2024-2028 |
USD 7190.3 million |
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Market structure |
fragmentation |
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YoY growth 2023-2024(%) |
18.59 |
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Key countries |
US, Germany, China, France, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Vegan Yogurt Market encompasses a variety of plant-based options, including soy milk, oat milk, coconut cream, cashew milk, almond milk, pea protein, brown rice, and hemp seed yogurts. Probiotic blends with Lactobacillus and Bifidobacteria are popular additions. Recipes for vegan yogurt, such as frozen, strained, creamy, tart, sweet, and fruit-flavored versions, abound. Coconut yogurt blends and nutty, chocolate, vanilla, and plain options are also available. Vegan yogurt can be used in smoothies and parfaits.
The vegan yogurt market is a segment of the global packaged foods market, encompassing vendors engaged in the production of plant-based alternatives such as soy, almond, and coconut yogurts. These products undergo processing to maintain microbial stability and extend shelf life, contributing to the market's revenue. Factors driving growth include the health benefits associated with consuming minimally processed plant-based foods, which provide essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C. Technavio's market analysis calculates the vegan yogurt market size based on the combined revenue of these specialized food processors. The market excludes equipment manufacturers and producers of packaged beverages, including alcoholic and non-alcoholic varieties.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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