South & Central America Non-Dairy Yogurt Market Forecast to 2030
South & Central America Non-Dairy Yogurt Market Forecast to 2030 – Regional Analysis – by Source (Almond, Soy, Coconut, Oat, and Others), Type (Flavored and Plain), Nature (Organic and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
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Description
Growing Trend of Veganism Due to Rising Environmental Concern Fuels the South & Central America Non-Dairy Yogurt Market
The vegan population has grown significantly over the past few years. According to Veganuary (a nonprofit organization that encourages individuals worldwide to become vegan for the entire month of January), in 2022, more than 620,000 people registered for the Veganuary campaign, and the registrations increased by 200% in the last three years.
The following figure shows the number of participants across the world in the Veganuary Campaign from 2016 to 2022:
FIGURE 1. REGISTRATIONS FOR VEGANUARY CAMPAIGN FROM 2016 TO 2022
Source: Veganuary 2022 Campaign Review
The livestock industry is one of the significant contributors to the total anthropogenic greenhouse gas emissions. According to the Food and Agriculture Organization (FAO), the global livestock industry emits 7.1 gigatons of carbon dioxide per year, accounting for 14.5% of all human-caused greenhouse gas emissions. The dairy sector is responsible for 30% of the total livestock emissions.
The following figure shows annual greenhouse gas emissions per kilogram of food products:
FIGURE 2. ANNUAL GREENHOUSE GAS EMISSIONS (GHG) PER KILOGRAM OF FOOD PRODUCTS
Source: Poore & Nemecek, 2018
As can be seen from the figure above, beef (beef herd), beef (dairy herd), and lamb and mutton products have the highest greenhouse gas emission. Many studies have shown that shifting to a vegan diet can significantly lower carbon dioxide emissions. Moreover, the United Nations, PETA, Good Food Institute, and many organizations believe that veganism can help save the planet from the climate crisis. Awareness regarding the harmful effects of the livestock industry on environment is increasing among consumers. The consumption of plant-based dairy products helps minimize carbon footprints, save water and other natural resources, and reduce the overall environmental impacts. Therefore, consumers are rapidly switching to plant-based dairy and meat products. Therefore, people are increasingly switching to a vegan diet due to rising sustainability and environmental concerns.
South & Central America Non-Dairy Yogurt Market Overview
The non-dairy yogurt market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America. A shift in consumer lifestyle and dietary patterns is a major factor driving the growth of the non-dairy yogurt market in South & Central America, especially in Brazil. The rising population and continuous technological improvements are among the factors boosting the economic growth of Brazil and Argentina. Plant-based dairy products are a good energy source and help lower the risk of cardiovascular diseases. Moreover, the increasing milk allergies, which result in adverse immune reactions after ingesting animal milk among the population, particularly children and infants, is a major factor driving market growth.
Lactose intolerance and primary lactose malabsorption are the most common symptoms of adult-type hypolactasia (lactase deficiency) in Argentina, Brazil, and Ecuador. As a result, consumers are moving toward dairy-free products. Allergies and intolerances are major reasons behind the shift toward dairy-free products, especially considering the Food Allergy Initiatives statistics, which state that cow milk allergy is the leading food allergy in both infants and adults in South America. This factor is majorly driving the demand for non-dairy yogurt.
South & Central America Non-Dairy Yogurt Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Non-Dairy Yogurt Market Segmentation
The South & Central America non-dairy yogurt market is segmented based on source, type, nature, and distribution channel.
Based on source, the South & Central America non-dairy yogurt market is segmented into almond, soy, coconut, oat, and others. The coconut segment held the largest share in 2022.
Based on type, the South & Central America non-dairy yogurt market is bifurcated into flavored and plain. The flavored segment held a larger share in 2022.
Based on nature, the South & Central America non-dairy yogurt market is bifurcated into organic and conventional. The conventional segment held a larger share in 2022.
Based on distribution channel, the South & Central America non-dairy yogurt market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held the largest share in 2022.
Based on country, the South & Central America non-dairy yogurt market is categorized into Brazil, Argentina, the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America non-dairy yogurt market in 2022.
Danone SA, Cocojune Products, Forager Project, The Icelandic Milk and Skyr Corporation are some of the leading companies operating in the South & Central America non-dairy yogurt market.
Summary Info
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According to the Research Team’ research, the South & Central America non-dairy yogurt market was valued at US$ 87.82 million in 2022 and is expected to reach US$ 202.76 million by 2030, registering a CAGR of 11.0% from 2022 to 2030. Rising adoption of organic products and strategic development initiatives by manufacturers are among the critical factors attributed to the South & Central America non-dairy yogurt market expansion.
Organic and natural products are gaining popularity owing to their perceived health benefits. Consumers are highly concerned about their health and wellness, and they pay more attention to ingredients used in processed products. They are willing to pay high prices for products that are free of synthetic ingredients. Further, greater access to infinite information through the internet has made consumers increasingly aware of their health needs, which triggers the demand for organic products. The inclination of people toward organic products has encouraged manufacturers to invest heavily in products produced with organic constituents.
Consumers prefer products made with natural and ethically sourced ingredients due to a focus on holistic and conscious food consumption. Increasing demand for organically sourced products would create lucrative opportunities for the South & Central America non-dairy yogurt market during the forecast period.
On the contrary, higher prices of raw material hampers the growth South & Central America non-dairy yogurt market.
Based on source, the South & Central America non-dairy yogurt market is segmented into almond, soy, coconut, oat, and others. The coconut segment held 50.7% share of the South & Central America non-dairy yogurt market in 2022, amassing US$ 44.54 million. It is projected to garner US$ 101.60 million by 2030 to expand at 10.9% CAGR during 2022-2030.
Based on type, the South & Central America non-dairy yogurt market is bifurcated into flavored and plain. The flavored segment held 69.8% share of the South & Central America non-dairy yogurt market in 2022, amassing US$ 61.32 million. It is projected to garner US$ 145.68 million by 2030 to expand at 11.4% CAGR during 2022-2030.
Based on nature, the South & Central America non-dairy yogurt market is bifurcated into organic and conventional. The conventional segment held 82.2% share of South & Central America non-dairy yogurt market in 2022, amassing US$ 72.16 million. It is projected to garner US$ 162.95 million by 2030 to expand at 10.7% CAGR during 2022-2030.
Based on distribution channel, the South & Central America non-dairy yogurt market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held 57.0% share of South & Central America non-dairy yogurt market in 2022, amassing US$ 50.03 million. It is projected to garner US$ 113.10 million by 2030 to expand at 10.7% CAGR during 2022-2030.
Based on country, the South & Central America non-dairy yogurt market is categorized into Brazil, Argentina, the Rest of South & Central America. The Rest of South & Central America held 44.7% share of South & Central America non-dairy yogurt market in 2022, amassing US$ 39.29 million. It is projected to garner US$ 84.24 million by 2030 to expand at 10.0% CAGR during 2022-2030.
Key players operating in the South & Central America non-dairy yogurt market are Danone SA, Cocojune Products, Forager Project, The Icelandic Milk and Skyr Corporation, among others.
– In Aug 2021, Silk the well-known brand of Danone SA for plant-based products launched plant-based Greek yogurt. The yogurt alternatives feature a thick coconut milk base and contain 190 to 200 calories, 10 grams of protein, 9 to 12 grams of sugar and 11 grams of fat per serving. Flavors include vanilla, strawberry, lemon, and blueberry.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in South & Central America non-dairy yogurt market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Non-Dairy Yogurt Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturing Process
4.3.3 Packaging
4.3.4 Distribution Channel
5. South & Central America Non-Dairy Yogurt Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Prevalence of Lactose Intolerance
5.1.2 Strategic Development Initiatives by Manufacturers
5.2 Market Restraints
5.2.1 Higher Prices of Raw Material
5.3 Market Opportunities
5.3.1 Rising Adoption of Organic Products
5.4 Future Trends
5.4.1 Growing Trend of Veganism Due to Rising Environmental Concern
5.5 Impact Analysis of Drivers and Restraints
6. Non-Dairy Yogurt Market – South & Central America Market Analysis
6.1 South & Central America Non-Dairy Yogurt Market Revenue (US$ Million), 2022 – 2030
6.2 South & Central America Non-Dairy Yogurt Market Forecast and Analysis
7. South & Central America Non-Dairy Yogurt Market Analysis – Source
7.1 Almond
7.1.1 Overview
7.1.2 Almond Market Revenue and Forecast to 2030 (US$ Million)
7.2 Soy
7.2.1 Overview
7.2.2 Soy Market Revenue and Forecast to 2030 (US$ Million)
7.3 Coconut
7.3.1 Overview
7.3.2 Coconut Market Revenue and Forecast to 2030 (US$ Million)
7.4 Oat
7.4.1 Overview
7.4.2 Oat Market Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others Market Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Non-Dairy Yogurt Market Analysis – Type
8.1 Flavored
8.1.1 Overview
8.1.2 Flavored Market Revenue and Forecast to 2030 (US$ Million)
8.2 Plain
8.2.1 Overview
8.2.2 Plain Market Revenue and Forecast to 2030 (US$ Million)
9. South & Central America Non-Dairy Yogurt Market Analysis – Nature
9.1 Organic
9.1.1 Overview
9.1.2 Organic Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Conventional
9.2.1 Overview
9.2.2 Conventional Market Revenue, and Forecast to 2030 (US$ Million)
10. South & Central America Non-Dairy Yogurt Market Analysis – Distribution Channel
10.1 Supermarkets and Hypermarkets
10.1.1 Overview
10.1.2 Supermarkets and Hypermarkets Market Revenue, and Forecast to 2030 (US$ Million)
10.2 Convenience Stores
10.2.1 Overview
10.2.2 Convenience Stores Market Revenue, and Forecast to 2030 (US$ Million)
10.3 Online Retail
10.3.1 Overview
10.3.2 Online Retail Market Revenue, and Forecast to 2030 (US$ Million)
10.4 Others
10.4.1 Overview
10.4.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
11. South & Central America Non-Dairy Yogurt Market – Country Analysis
11.1 South & Central America Non-Dairy Yogurt Market – Country Analysis
11.1.1 South & Central America Non-Dairy Yogurt Market Breakdown by Country
11.1.1.1 Brazil Non-Dairy Yogurt Market Revenue and Forecasts to 2030 (US$ Million)
11.1.1.1.1 Brazil Non-Dairy Yogurt Market Breakdown by Source
11.1.1.1.2 Brazil Non-Dairy Yogurt Market Breakdown by Type
11.1.1.1.3 Brazil Non-Dairy Yogurt Market Breakdown by Nature
11.1.1.1.4 Brazil Non-Dairy Yogurt Market Breakdown by Distribution Channel
11.1.1.2 Argentina Non-Dairy Yogurt Market Revenue and Forecasts to 2030 (US$ Million)
11.1.1.2.1 Argentina Non-Dairy Yogurt Market Breakdown by Source
11.1.1.2.2 Argentina Non-Dairy Yogurt Market Breakdown by Type
11.1.1.2.3 Argentina Non-Dairy Yogurt Market Breakdown by Nature
11.1.1.2.4 Argentina Non-Dairy Yogurt Market Breakdown by Distribution Channel
11.1.1.3 Rest of South & Central America Non-Dairy Yogurt Market Revenue and Forecasts to 2030 (US$ Million)
11.1.1.3.1 Rest of South & Central America Non-Dairy Yogurt Market Breakdown by Source
11.1.1.3.2 Rest of South & Central America Non-Dairy Yogurt Market Breakdown by Type
11.1.1.3.3 Rest of South & Central America Non-Dairy Yogurt Market Breakdown by Nature
11.1.1.3.4 Rest of South & Central America Non-Dairy Yogurt Market Breakdown by Distribution Channel
12. Industry Landscape
12.1 Overview
12.2 New Product Development
12.3 Partnerships
13. Company Profiles
13.1 Danone SA
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Forager Project LLC
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Cocojune Products LLC
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 The Icelandic Milk and Skyr Corp
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
14. Appendix
LIST OF TABLES
Table 1. South & Central America Non-Dairy Yogurt Market Segmentation
Table 2. Nutrients in 8 oz of Whole Milk and Soymilk
Table 3. South & Central America Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million)
Table 4. South & Central America Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – Source
Table 5. South & Central America Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – Type
Table 6. South & Central America Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – Nature
Table 7. South & Central America Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – Distribution Channel
Table 8. Brazil Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Source
Table 9. Brazil Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 10. Brazil Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Nature
Table 11. Brazil Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Distribution Channel
Table 12. Argentina Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Source
Table 13. Argentina Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 14. Argentina Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Nature
Table 15. Argentina Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Distribution Channel
Table 16. Rest of South & Central America Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Source
Table 17. Rest of South & Central America Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 18. Rest of South & Central America Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Nature
Table 19. Rest of South & Central America Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million) – By Distribution Channel
LIST OF FIGURES
Figure 1. South & Central America Non-Dairy Yogurt Market Segmentation, By Country
Figure 2. Porter’s Five Forces Analysis: South & Central America non-dairy yogurt market
Figure 3. Ecosystem: South & Central America Non-Dairy Yogurt Market
Figure 4. South & Central America Non-Dairy Yogurt Market – Key Industry Dynamics
Figure 5. Registrations for Veganuary Campaign from 2016 to 2022
Figure 6. Annual Greenhouse Gas Emissions (GHG) Per Kilogram of Food Products
Figure 7. South & Central America non-dairy yogurt market: Impact Analysis of Drivers and Restraints
Figure 8. South & Central America Non-Dairy Yogurt Market Revenue (US$ Million), 2020 – 2030
Figure 9. South & Central America Non-Dairy Yogurt Market Share (%) – Source, 2022 and 2030
Figure 10. Almond Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Soy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Coconut Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Oat Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. South & Central America Non-Dairy Yogurt Market Share (%) – Type, 2022 and 2030
Figure 16. Flavored Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Plain Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. South & Central America Non-Dairy Yogurt Market Share (%) -Nature, 2022 and 2030
Figure 19. Organic Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Conventional Market Revenue and Forecasts To 2030 (US$ Million)
Figure 21. South & Central America Non-Dairy Yogurt Market Share (%) -Distribution Channel, 2022 and 2030
Figure 22. Supermarkets and Hypermarkets Market Revenue and Forecasts To 2030 (US$ Million)
Figure 23. Convenience Stores Market Revenue and Forecasts To 2030 (US$ Million)
Figure 24. Online Retail Market Revenue and Forecasts To 2030 (US$ Million)
Figure 25. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 26. South & Central America Non-Dairy Yogurt Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 27. Brazil Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million)
Figure 28. Argentina Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million)
Figure 29. Rest of South & Central America Non-Dairy Yogurt Market Revenue and Forecasts To 2030 (US$ Million)
The List of Companies – South & Central America Non-Dairy Yogurt Market
1. Danone SA
2. Cocojune Products
3. Forager Project LLC
4. The Icelandic Milk and Skyr Corporation
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