Plant Based Yogurt Market

Global Plant Based Yogurt Market

Plant Based Yogurt Market- By Nature, Product Type, Flavour, Price Range, Sales Channel and Region.

Market Synopsis:

The Global Plant Based Yogurt Market is valued at USD 1586.83 Million in the year 2022 and is projected to reach a value of USD 6554.92 Million by the year 2030. The Global Market is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 19.40% over the forecast period.

Plant Based Yogurt is derived from plants and increasing demand for plant-derived products from the health-aware population is expected to boost market potential. The increasing popularity of veganism is expected to further bolster the Plant Based Yogurt Market growth over the forecast period. The rising number of product launches and increasing availability of multiple brands and types of Plant Based Yogurt is expected to further boost the Plant Based Yogurt Market potential across the world.

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The Plant Based Yogurt Market experienced a negative growth trend in the year 2020 due to the pandemic but is expected to make a good comeback in the post-pandemic world owing to the resumption of world activity as normal.

Increasing health awareness and focusing on fitness is expected to positively influence the Plant Based Yogurt Market potential over the forecast period. Declining dairy product consumption is also expected to act in favor of Plant Based Yogurt Market potential over the coming years. Rising disposable income and increasing availability of plant-based alternatives will also favor Plant Based Yogurt Market growth over the coming years. However, lack of awareness is expected to hamper the Plant Based Yogurt Market growth in the long term.

Market Segmentation:

The Plant Based Yogurt Market is segmented on the basis of product Type, nature, flavor, price range, and sales channel. On the basis of product type, the market is segmented into Cereal Type, Oat, Legume, Nut, Seed, and Pseudo Cereal. On the basis of nature, the market is segmented into Conventional and Organic. On the basis of flavor, the market is segmented into Regular, Vanilla, Strawberry, Blueberry, Cherry, Peach, Raspberry, Coconut, Coffee, and Others. On the basis of the price range, the market is segmented into Economic, Mid-Range, and Premium. On the basis of sales channel, the market is segmented into Food Service, Retail, Modern Trade, Convenience Stores, Specialty Stores, Discounters, Independent Small Groceries, E-commerce, and Others.

Based on Nature:

The organic segment is projected to see good growth in demand over the coming years owing to the rising popularity of organic foods across the world. Increasing demand for organic products and high spending potential will further bolster the growth in this segment over the forecast period.

Based on Sales Channel:

The global market is projected to see high demand from the retail segment owing to rising demand from this segment in multiple regions. The increasing availability of Plant-Based Yogurt in multiple retail outlets will further bolster Plant-Based Yogurt market growth over the forecast period

Europe Accounts for the Most Major Market Share

The Europe region is anticipated to hold a dominant stance over the forecast period and accounted for a major market share of 38.2% in the global landscape. The Plant Based Yogurt Market in this region accounted for a revenue total of USD 507.8 Million in the year 2021. The increasing popularity of plant-based foods in countries such as Germany, France, the United Kingdom, and Italy are expected to provide lucrative opportunities for Plant Based Yogurt Market players in this region over the forecast period. Rising disposable income and increasing popularity of veganism is also expected to guide the Plant Based Yogurt Market potential over the coming years. Rising campaigns to promote plant-based products in this region are also anticipated to boost Plant Based Yogurt Market potential over the coming years.