According to a recent Global Market Insights Inc. study, the global non-dairy yogurt market size may account for USD 7.5 million by 2028. Significant growth in the vegan populace worldwide and the growing awareness of several food allergies, including lactose intolerance, may strengthen the non-dairy yogurt market outlook over the forecast timeframe. The rising concerns pertaining to the unethical treatment of animals have contributed to the increasing popularity of dairy alternatives and a considerable shift in people’s food and taste preferences.
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Vegan yogurts are known to have fewer ingredients in comparison to dairy counterparts while having robust nutritional profiles and minimal or no added sugar content. These attributes make them ideal for the fitness-oriented population and those working on maintaining healthy body weight. Besides, the inflating on-the-go and convenience food trends and the easy availability of a wide range of products with flavored or non-flavored alternatives may positively influence the industry landscape.
Explained ahead are some prominent factors streamlining the market expansion.
Increasing vegan population
The veganism trends have been on a roll over the recent years due to rising concerns against animal cruelty and the growing popularity of plant-based foods and beverages. Several studies and surveys suggest that vegans constitute almost 1% of the world’s population. However, the data about veganism expansion is not comprehensive, the Guardian estimated the vegan population to be around 79 million.
This subsequent growth has substantially propelled the sales of plant-based products. As per April 2021 SPINS retail sales data, grocery sales of plant-based foods that literally substitute animal products have increased by 27% in 2020 to $7 billion.
These optimistic scenarios may substantially boost the non-dairy yogurt industry forecast over the coming years.
Growing prominence of lactose intolerance
Lactose allergies have become quite common over the last few years. According to the National Institute of Health, the declining activity of the LCT gene in grown-ups may lead to increasing incapability to digest lactose as they age. NIH estimates reveal roughly 65% of adults have this kind of lactose intolerance, which leads to abdominal pain and other gastrointestinal effects after consuming dairy products. Over 70 to 100% of people of East Asian heritage have lactose intolerance issues.
These estimates point toward the prolific growth in the population suffering from dairy intolerances, leading to the increased adoption of alternative dairy products. This, in consequence, may propel the non-dairy yogurt sales in the years ahead.
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Soy yogurt to gain significant traction
Soy products have witnessed considerable growth in demand due to their exceptional health benefits and high nutritional content. Studies reveal that intake of soy food products may reduce menopausal symptoms, cardiovascular disease, arthritis, diabetes, and osteoporosis while promoting weight loss and brain function. Estimates suggest that over 50% of consumers in the US approved that soy foods are healthy foods.
These scenarios depict the decent progression of the North America non-dairy yogurt market and may lead to the launch of new products with enhanced taste and nutrition value.
To that end, it can be concluded that non-dairy yogurt may account for a significant share of the market due to the increasing role of several organizations in promoting veganism and condemning animal cruelty. Besides, the prominence of food allergies and the growing concerns about minimizing carbon footprint may further drive the product demand.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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