Plant Based Drinkable Yogurt on the Rise in Vegan and Allergen Free Markets
Introduction
Plant-based drinkable yogurt has been gaining popularity in recent years, especially in the vegan and allergen-free markets. Consumers are increasingly seeking dairy alternatives that are not only delicious but also offer health benefits. This trend has led to the rise of plant-based drinkable yogurt options that cater to a wide range of dietary needs and preferences.
Market Trends
According to a report by Grand View Research, the global plant-based yogurt market is expected to reach $7.4 billion by 2027, with a compound annual growth rate of 16.6%. This growth is driven by the increasing demand for dairy alternatives, as more consumers become aware of the health and environmental benefits of plant-based products.
Key Players
Several major players in the food and beverage industry have entered the plant-based drinkable yogurt market. Companies such as Danone, Chobani, and Califia Farms have launched their own lines of plant-based yogurt products to cater to the growing demand for dairy alternatives. These companies have invested heavily in research and development to create plant-based yogurt options that are not only tasty but also nutritionally balanced.
Financial Data
In 2020, Danone reported that its plant-based business, which includes yogurt alternatives, grew by 17% globally. The company’s plant-based sales reached €2 billion, accounting for 15% of its total revenue. Similarly, Chobani has seen success with its plant-based yogurt products, with sales increasing by 52% in 2020. Califia Farms, known for its almond milk products, has also seen growth in its plant-based yogurt category.
Industry Insights
Plant-based drinkable yogurt is not only popular among vegans and those with dairy allergies, but also among mainstream consumers who are looking to reduce their dairy consumption. These products are often fortified with vitamins, minerals, and probiotics, making them a nutritious choice for consumers of all dietary backgrounds. The wide variety of flavors and textures available in plant-based drinkable yogurt options also appeal to a diverse range of tastes.
Conclusion
In conclusion, plant-based drinkable yogurt is on the rise in the vegan and allergen-free markets, driven by consumer demand for dairy alternatives that are both delicious and nutritious. With major players in the food and beverage industry investing in plant-based yogurt products, the market is expected to continue growing in the coming years. As more consumers become aware of the health and environmental benefits of plant-based products, the demand for plant-based drinkable yogurt is likely to increase further.
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