Dairy-Free Yogurt Market Projected to Reach $1.5 Billion by 2028, Reports MarkWide Research
According to a new report published by MarkWide Research, titled “Dairy-Free Yogurt Market,” the global dairy-free yogurt market is poised for significant growth, with a projected market size of $1.5 billion by the year 2028. The rising demand for plant-based alternatives, increasing lactose intolerance, and growing health-conscious consumer preferences are some of the key factors driving the expansion of the dairy-free yogurt market.
The report highlights a robust compound annual growth rate (CAGR) of 10.5% during the forecast period from 2023 to 2028. This growth can be attributed to a shift in consumer dietary habits, as individuals seek healthier and more sustainable alternatives to traditional dairy products. The dairy-free yogurt market is witnessing a surge in popularity due to its potential health benefits and reduced environmental impact.
One of the major drivers propelling the dairy-free yogurt market is the rising awareness of lactose intolerance and milk allergies. As a result, consumers are seeking alternatives that provide the creaminess and probiotic benefits of traditional yogurt without the discomfort that dairy products can cause. Dairy-free yogurt made from almond milk, coconut milk, soy milk, and other plant-based sources has emerged as a suitable option, meeting both nutritional and dietary requirements.
Furthermore, the increasing number of vegans and vegetarians across the globe is fueling the demand for dairy-free options. Plant-based diets have gained traction due to their perceived health benefits and ethical considerations. As a result, manufacturers are focusing on innovating dairy-free yogurt products that offer similar taste and texture profiles to traditional yogurt, thereby expanding their consumer base.
The report also delves into the geographical segmentation of the dairy-free yogurt market, indicating a strong presence in North America and Europe. These regions are witnessing a surge in health-conscious consumers who are actively seeking alternatives to dairy products. The Asia-Pacific region is also expected to experience substantial growth in the dairy-free yogurt market due to increasing disposable incomes, urbanization, and changing dietary preferences.
Market players are actively engaged in research and development activities to improve the taste, texture, and nutritional value of dairy-free yogurt products. Collaborations between dairy-free yogurt manufacturers and food technology companies are resulting in the introduction of innovative flavors, formulations, and packaging designs, thus driving consumer interest.
The report outlines the competitive landscape of the dairy-free yogurt market, profiling key industry players and their strategies. Companies are focusing on product launches, marketing campaigns, and partnerships to strengthen their market presence and cater to the evolving consumer demands. Additionally, investments in sustainable sourcing, packaging, and production processes are being made to align with the growing trend of environmental consciousness.
In conclusion, the dairy-free yogurt market is witnessing remarkable growth prospects, driven by factors such as increased lactose intolerance awareness, changing dietary preferences, and the rise of plant-based diets. MarkWide Research’s report underscores the market’s substantial CAGR of 10.5% from 2023 to 2028, with a projected market size of $1.5 billion by 2028. As consumers continue to seek healthier and sustainable alternatives, the dairy-free yogurt market is poised to revolutionize the dairy industry.