The plant-based yogurt market will reach $12.2 billion in 2033

The report predicts that the global plant-based yogurt market will reach $12.2 billion by 2033, growing at a compound annual growth rate (CAGR) of 6%.

In a recently released report, experts said: Rising demand for dairy alternatives such as oats, soy, cashews and almonds is driving the market.

Consumer interest in these products is partly due to health reasons, the report said. Approximately 68% of the world’s population is thought to suffer from lactose malabsorption (reduced ability to digest lactose). People are also increasingly aware of the environmental impact of buying dairy products. The dairy industry accounts for about four percent of global greenhouse gas emissions and also consumes large amounts of land and fresh water.

The rise of plant-based yogurt around the world

There are now a variety of brands that cater to those who no longer drink dairy yogurt. In addition to plant-based companies such as Alpro, Oatly, Follow Your Heart and Nush, many dairy companies such as Petit Filous and Müller are now launching plant-based versions of their products.

Plant-based yogurt can be found in many mainstream supermarkets and grocery stores around the world. According to the report, the country with particularly significant demand growth is China. –Estimated CAGR of 6.8%.

Elsewhere, the report noted that Europe’s plant-based industry growth is being driven by “an increase in the plant-based population.” European countries are “relatively developing and more open to the idea of a plant-based diet,” the report said.

In the United States, the plant-based yogurt market is expected to grow at a CAGR of 5.2% amid rising prevalence of lactose intolerance and growing interest in plant-based diets and plant-based foods.