Assessment of the Global Vegan Yogurt Market
Fact. MR’s latest published report on the global Vegan Yogurt market highlights the important parameters that are expected to influence market growth in the upcoming years. Further, by taking into account the historical data collected from the period 2015-2019 and analyzing the current trends and market scenario, the analysts offer highly accurate estimates regarding the future prospects of the market.
The study further highlights the key market trends in the current market landscape and its potential impact on the future dynamics of the market. The micro and macro-economic growth indicators are thoroughly investigated in the presented report while predicting the course of the Vegan Yogurt market during the forecast period (2020-2025).
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Critical Questions Answered
- What is the projected market size of the Vegan Yogurt market in 2019?
- What are the growth prospects of the emerging market players in the Vegan Yogurt market?
- Who are the leading Vegan Yogurt manufacturers?
- What is the most adopted distribution channel adopted by players in the Vegan Yogurt market?
- The market in which region is expected to witness the highest growth over the forecast period?
Key Takeaways from the Vegan Yogurt Market Report
- Timeline of the technological developments within the Vegan Yogurt market landscape
- New product launches and innovations
- Consumption analysis of the Vegan Yogurt in end markets
- Scope of innovation in the Vegan Yogurt market
- Winning strategies of established players in the Vegan Yogurt market
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Vegan Yogurt Market Segmentation
The report is split into different market segments to enable readers to understand the various aspects of the Vegan Yogurt market at the microscopic level. Different segments included in the presented report:
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The organized segment of the vegan yogurt market is also highly fragmented, with a number of players vying for consumer attention. . Rising lactose intolerance is driving vegan yogurt companies to launch high-quality and nutritious products in the market. Growing demand has also led processors to increase their production capacity. Meeting the varied tastes and preferences, without compromising on the nutritional quotient, remains a key focus area for vegan yogurt companies.
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Almond-milk Based Yogurt the Most Preferred Variant
Due to its low cholesterol and unsaturated fat content, almond milk is emerging as the most preferred non-dairy alternative for the production of vegan yogurts. Apart from being devoid of cholesterol, almond milk yogurt can help reduce bad cholesterol owing to the presence of polyunsaturated fatty acids in its composition. Furthermore, consumption of almond yogurt has been linked with maintaining eye health, immunity, and digestive health.
Almond yogurt’s vitamin E-rich makeup provides for 50% of a human being’s daily vitamin requirement. With its high vitamin E content, almond yogurt provides the nourishment required to maintain healthy and glowing skin. The array of benefits offered by almond-milk based yogurt has created a spike in the demand for the alternative yogurt variant. An increasing number of vegan yogurt companies have been taking note of the growing popularity of almond yogurt and are launching novel vegan yogurts with almond-milk as its basic manufacturing ingredient.
Fear of Developing Antibiotic Resistance Creating Dent in Consumer Confidence
The use of antibiotics and hormones to increase milk production in cows and other cattle is suspected to be one of the major causes of the development of antibiotic resistance in humans. A booming number of superbugs that are resistant to most antibiotics have emerged in the recent past. The discovery has been closely linked to the use of hormones and antibiotics in dairy and meat farming. Further, stories of inhumane treatment of animals on farms have sparked global outrage. Stories of separating new-born baby calves from their mothers to the slaughtering of cows unable to produce milk were made public, resulting in a backlash against meat and dairy products.
Inefficient manure management techniques, coupled with increased manure produce is leading to the pollution of natural waterways and aquifers. The contamination of waterways and natural sources of water is gradually starting to take a toll on the health of the people situated in the vicinity of the dairy farms. The indirect impact of dairy farming on human health and environment has further fuelled avoidance of dairy products. An overall grim view of dairy farming practices has resulted in an increasing number of people choosing non-dairy vegan products over dairy products.
Regulatory Authorities Address Ambiguity Surrounding Vegan Products and Dairy Substitutes
Consumers around the world are uncertain regarding the nutritional and processing attributes for terming a product as vegan. Further, using labels such as milk, cheese, and yogurt for non-dairy substitutes has created confusion among consumers who often mistake the nutritional content of vegan products to be equivalent to their dairy counterparts.
Regulatory authorities around the world have stepped in to alleviate some of the consumer concerns. For instance, the US Food and Drug Administration (FDA) is scrutinizing the standards of identity laid down for using dairy names for non-dairy products. The regulatory authority has issued a request for information (RFI) to garner feedback on how consumers use dairy substitutes and the way they comprehend terms like milk, yogurt, and cheese. Through the survey, FDA plans to promote innovations in the production of vegan yogurt and other plant-based products. In a similar vein, the European Union has announced it would establish a definition of vegan food in 2019 which will lay the groundwork for labeling any product as vegan. With the definition, EU aims to educate the consumers as well as lay down proper guidelines for companies involved in the production of vegan foods and beverages. Budding companies, as well as old market players, can leverage the information to streamline their strategies to tap into the extensive vegan consumer market base.
An Exponential Rise in the Global Vegan Population
A rapid spike in the global vegan population has bolstered the demand for vegan yogurts across the world. More than 5% of the American population now identifies themselves as a vegan and recent trends suggest a likely gain is on cards as numerous people have expressed their interest in switching to a completely vegan diet. With over 300% increase in the number of vegans in the country, UK is now home to over 500,000 vegans. Germany which is the largest producer of vegan food products has over 1 million vegans. In China, the government has released new dietary guidelines promoting the reduction of meat consumption and adoption of plant-based diet. These initiatives are likely to bode well for ushering in the vegan revolution in China.. The increasing demand for vegan yogurt and other vegan products is being led by millennials who have been instrumental in promoting and expanding the vegan movement around the world.
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Vegan Yogurt Market – Definition
Vegan yogurt, an alternative to dairy-based yogurt, is usually made from milk substitutes obtained from soy, coconut or almond. The raw materials in soy, coconut, and almonds are ground together with water to produce vegan yogurt which is rich in probiotics making it a healthy snack and an alternative for lactose intolerant population.
Vegan Yogurt Market – About the Report
Fact.MR has published a new report on the vegan yogurt market, which features exclusive information about the vegan yogurt market along with the market forecast for the period 2018-2028. The study on vegan yogurt market offers an elaborate coverage of all the market aspects impacting the vegan yogurt market.
Vegan Yogurt Market – Market Structure
The vegan yogurt market report offers a detailed market breakdown on the basis of volume, value, Y-o-Y growth, and CAGR. The report segments the market on the basis of region, end use application, sales channel, and product type.
Vegan Yogurt Market – Additional Questions Answered
Apart from the aforementioned insights on vegan yogurt market, the report answers the following pivotal questions that stakeholders can use to expand their market presence in the global vegan yogurt market –
- Which is the most lucrative sales channel for vegan yogurt market?
- Based on end-use, which application will lead the vegan yogurt market in terms of revenue share?
- What are the profound trends that influence the vegan yogurt market?
- What are the key opportunities on offer in the vegan yogurt market?
- What are the major challenges that manufacturers are likely to face in the vegan yogurt market?
Vegan Yogurt Market – Research Methodology
The vegan yogurt market report sheds light on the elaborate and robust research process followed during the compilation of the report. A two-step research process in primary and secondary research was employed to unearth deep insights on vegan yogurt market.
The primary research phase during the preparation of vegan yogurt market involved comprehensive interviews of seasoned industry experts and thorough company case studies. During the secondary research phase, thorough research of the vegan yogurt market databases along with industry-specific publications, trade journals, and paid sources was done to draw authentic inferences about the industry.
The growth projection of each segment and sub-segment is accurately represented in the report along with relevant figures, tables, and graphs.
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