The dairy-free yoghurt market is set to be worth $7.4 billion by 2027, according to new information published by Future Market Insights. The study into the market has found that the rise in population that are lactose intolerant is the main driver behind this growth of non-dairy yoghurt.
The market study has found that the millennial population is surpassing the baby boomers, and that this generation are more health and diet conscious, and prefer products that are lower in fat, sugar and lactose. This generation also desire more plant based products, such as yoghurts, milks and other items.
In North America and Asia Pacific there are increasingly more people that are lactose intolerant and are driving the market forwards, contributing to the growth. According to the report, the non-dairy yoghurt global market is expected to grow at CAGR of 4.9 per cent from 2017 through to 2027, worth $7.4 billion.
Other markets that are expected to see an impressive annual growth include the vegan meat alternatives market, expected to be worth $7 billion also, vegan ice cream and vegan cheese both set to be worth $2.45 billion and $4 billion respectively.