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Vegan Yogurt Market – Notable Developments
- General Mills continued to be bullish about Kite Hill, a vegan company that specializes in manufacturing plant-based yogurt and cheese. Kite Hill secured additional funding of US $40 million from 301 Inc. a General Mill’s venture capital firm. Kite Hill aims to use this funding for expanding its factory capacity.
- Danone, the leading French yogurt maker, acquired WhiteWave Foods in 2017. With a US $10 billion payment in cash, Danone acquired the Colorado-based company which owns a range of plant-based food and beverages manufacturing brands in Silk®, So Delicious®, Alpro®, and Vega™ brands.
- Califia Farms launched its first ever probiotics-rich vegan yogurt drinks line in 2018. The company’s latest product line gained widespread popularity among global masses and became its most accepted product in the span of 12 months. The company launched the vegan yogurt drinks in four flavors namely strawberry, mango, super berry, and unsweetened plain.
- Ripple launched its first ever vegan Greek yogurt line in 2018 with its major constituent being its proprietary pea-based protein Ripptein. The pea-based composition of the yogurt aims to free the vegan product from common allergens in nuts, soy, gluten, lactose, and other common allergy-causing agents.
The report on the vegan yogurt market also features detailed profiling of key market players. The key market players profiled in the report include Hain Celestial Group Inc., Stonyfield Farm Inc., Daiya Foods Inc., Good Karma Foods Inc., Hudson River Foods, Nancy’s Yogurt, Kite Hill, and COYO Pty Ltd.
Vegan Yogurt Market Remains a Fragmented Landscape
Considering the nature of the product, the vegan yogurt market continues to witness a high level of fragmentation, with unorganized players maintaining their strong presence. The level of fragmentation is higher also on account of the fact that many emerging countries in the Asia Pacific are among the leading producers and consumers of vegan yogurt. Lax regulations, stronghold over domestic supply chains, and intimacy with local tastes and preferences are the key factors that can be attributed to the growth of the unorganized sector in vegan yogurt market. Unorganized players hold a healthy 43% revenue share of the market; small players also make up 42% of total share.
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.
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.
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