A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global vegan yogurt market. Presenting exclusive insights into the market from 2018 to 2028, the report projects that the market will witness notable growth during the forecast. The growth of the market is primarily driven by the increasing consumption of dairy-free products, and the growing trend of veganism. Over the years, consumers across the world have been seeking plant-based alternatives such as soy, oat, and coconut, among others, moving away from dairy-based vegan yogurt. The shift in preferences is anticipated to boast lucrative revenue opportunities to the players in the vegan yogurt market. Furthermore, an increasing number of people with consumers with gluten and lactose intolerance, will also fuel the market growth in the forthcoming years.
Shifting Preferences Among Consumers Towards Nutritional Food Fosters Market Growth
In the recent past, consumers across the world have become highly conscious regarding regular diet and food intake. On this premise, they are actively seeking healthy food products and are moving away from dairy products. This shift in preferences is acting as a growth opportunity to the payers in the vegan yogurt market, on the back of the product's nutritional benefits. Owing to an increasing number of consumers with lactose intolerance and other food disorders, the demand for dairy-free yogurt has witnessed a sharp rise in demand. Moreover, changing lifestyles and the growing trend of veganism has increased demand for plant-based products, such as soy, oat, coconut, rise, and others, in turn increasing demand for vegan yogurt. As the demand for on-the-go breakfast products increases among higher-income groups of urban regions, it is translating into revenue opportunities for the market. Likewise, players in bakery, snacks, and desserts are developing products to cater to the vegan population, which is surging the adoption in the aforementioned industries as well. However, the high costs of vegan yogurts, fluctuating prices of raw material, and the higher manufacturing costs are expected to hinder the profit margins to a certain extent.
North America and Europe Maintain Dominance Over Global Market
North America and Europe are expected to remain the leading regional markets for vegan yogurt, owing to the high demand for dairy-free products among health-conscious consumers. Moreover, the increasing number of vegan consumers in the region, coupled with the product's nutritional benefits is propelling demand for vegan yogurt in these regions. The growth of the region is also attributed to the high number of lactose-intolerant consumers and