Vegan Yogurts Market Revenue, Size, and Growth Forecast to 2032
The global vegan yogurt market revenue was valued at USD 3.10 billion in 2023 and is projected to expand from USD 3.70 billion in 2024 to USD 16.76 billion by 2032, growing at a remarkable CAGR of 20.75% during 2024–2032. Asia Pacific led the global market in 2023, accounting for 46.13% of total revenue. In the United States, the vegan yogurt market is expected to witness strong growth, reaching an estimated USD 3.31 billion by 2032, driven by the expanding acceptance of vegan lifestyles and the introduction of innovative flavors and product varieties.
The vegan yogurt industry is experiencing rapid expansion due to the global rise in veganism and increasing demand for plant-based dairy alternatives. The market’s growth is primarily supported by heightened environmental awareness, health consciousness, and the recognized benefits of plant-based proteins. Furthermore, a surge in lactose-intolerant consumers—particularly across Europe and Asia—along with greater spending on plant-derived products like hemp milk and flax seed yogurt, has amplified demand.
Consumer preferences have evolved substantially in recent years, with an increasing shift toward plant-centric diets. This has motivated manufacturers to diversify their portfolios with more innovative, nutrient-rich, and flavorful options. In addition to their health benefits, vegan yogurts are praised for their smooth texture and mild taste, which have helped improve consumer acceptance and market penetration.
During the COVID-19 pandemic, consumer behavior shifted notably toward safer and immunity-supporting food options. This change greatly benefited the vegan yogurt industry, as health-conscious consumers sought clean-label, wholesome, and sustainable food products. Consequently, the market witnessed stronger-than-expected growth across all major regions during the pandemic.
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Market Segmentation By source, the almond segment is projected to dominate the market due to its superior nutritional profile, being rich in healthy fats, vitamins, and minerals. Other key sources include soy, oats, and various plant-based alternatives that continue to gain popularity. Based on distribution channels, supermarkets and hypermarkets lead the market, offering consumers convenience and a wide range of product choices, while convenience stores, online retail platforms, and other outlets also contribute to overall sales growth. Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa, each exhibiting distinct consumption trends and growth dynamics.
Report Coverage The report provides in-depth insights into the market segmentation, current trends, growth drivers, and challenges influencing market expansion. It also analyzes regional dynamics, the impact of COVID-19, and the strategic developments of leading companies operating in the global vegan yogurt market.
Drivers and Restraints Rising product innovation and flavor diversification are major drivers of the plant-based yogurt market, as consumers increasingly seek variety and health-focused options. For example, in October 2020, Soyarich Foods introduced its “Yofu” plant-based yogurt range in apple cinnamon, cherry, and mango flavors, featuring real fruit pulp and no artificial colors or preservatives. Additionally, the growing prevalence of lactose intolerance and the expanding vegan population are significantly boosting demand for dairy alternatives. However, the market faces restraints such as high production costs and quality inconsistencies, which may limit broader adoption, especially in developing economies.
Regional Insights Asia Pacific leads the global vegan yogurt market, supported by its vast population base, rising disposable incomes, and growing awareness of lactose intolerance. The region was valued at USD 963.05 million in 2021 and is projected to maintain a dominant global share in the coming years. In North America, market growth is driven by increasing awareness of dairy-free alternatives and a strong vegan movement. Meanwhile, Europe’s market continues to expand due to heightened consumer focus on sustainability, eco-friendly choices, and innovative food offerings, ensuring the region’s steady contribution to global revenue.
Competitive Landscape Major Companies and Strategies Leading market participants focus on product innovation, mergers and acquisitions, and strategic partnerships to strengthen their market positions. For instance, in March 2022, AYO introduced a new almond milk yogurt line featuring several flavors suitable for desserts, dips, and smoothies, enhancing its brand appeal globally.
In addition, companies are increasingly investing in R&D, sustainable packaging, and automation to improve operational efficiency and meet evolving consumer expectations.
Key Players Profiled Danone S.A. (France) General Mills Inc. (U.S.) Oatly A.B. (Sweden) Forager Project (U.S.) Coyo Pty Ltd (U.S.) Nancy’s Probiotic Foods (U.S.) Chobani Global Holdings (U.S.) Kite Hill (U.S.) Daiya Foods Inc. (Canada) GT’s Living Foods LLC (U.S.)
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Key Industry Development June 2022: So Delicious launched a range of coconut milk-based yogurts infused with botanical extracts, including flavors such as mango with ginger and turmeric, mixed berry with chamomile, and elderberry. Each variety contains organic coconut and live probiotics to promote gut health.