A new report compiled by Future Market Insights (FMI) has suggested that the vegan yoghurt market will be worth $7.4 million by 2027.
The report mentioned they anticipated that the vegan yoghurt market would increase to a value to $7.4 million by 2027, while the global non-dairy market can expect to see a compound annual growth rate of 4.9% between 2017 and 2027.
“The millennial population is on the verge of surpassing the baby boomers globally,” the report said. “This population segment is active and diet-conscious. They prefer products with low sugar, fat, and lactose as well. Plant-based products are one of the ideal products they desire.”
The report also went on discuss the increase in demand for non-dairy milk. “Demand for non-dairy milk continues to increase at a significant rate as consumers perceive better alternatives to dairy milk, with an increasing number of adults and families opting for plant-based beverages.”
Dairy-based yoghurt sales are reported to have slumped by 82 million servings, as more people look to eliminate dairy from their diets. While 7% of the UK population is now vegan, it seems likely plant-based markets are going to see a surge in value in coming years.