Yogurt Substitutes - G20

G20

Highlights

Revenue in the Yogurt Substitutes market amounts to US$1.87bn in 2024. The market is expected to grow annually by 5.98% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$470m in 2024).
In relation to total population figures, per person revenues of US$0.38 are generated in 2024.
In the Yogurt Substitutes market, volume is expected to amount to 338.00m kg by 2029. The Yogurt Substitutes market is expected to show a volume growth of 5.3% in 2025.0.
The average volume per person in the Yogurt Substitutes market is expected to amount to 0.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Yogurt Substitutes Market in the G20 region is experiencing minimal growth due to factors such as increasing health consciousness among consumers and the convenience of online services. This market is impacted by the rising popularity of plant-based alternatives and the trend towards dairy-free diets.

Customer preferences: The growing popularity of plant-based diets and lactose intolerance has led to a rise in demand for non-dairy yogurt substitutes. Consumers are increasingly seeking healthier and more sustainable options, resulting in a surge in sales of vegan and coconut milk-based yogurt alternatives. This trend is driven by a shift towards more plant-based diets and a growing awareness of the environmental impact of animal agriculture. Additionally, the rise of flexitarian and vegan lifestyles has also contributed to the growth of the yogurt substitutes market.

Trends in the market: In the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market, there is a growing trend of plant-based alternatives to traditional dairy yogurt. This is driven by increasing consumer demand for healthier and more sustainable options. Additionally, there is a rise in the availability of non-dairy yogurt options in grocery stores and restaurants, catering to the growing number of consumers with lactose intolerance or dairy allergies. This trend is expected to continue, with potential implications for dairy producers and retailers to adapt to changing consumer preferences and invest in alternative dairy products.

Local special circumstances: In the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market, local factors play a significant role in shaping market dynamics. In China, for example, the market is driven by the increasing health consciousness among consumers and the popularity of plant-based diets. The country's large population and rapid urbanization have also led to a rise in demand for dairy alternatives. In Europe, strict regulations on animal welfare and environmental sustainability have resulted in the development of innovative and sustainable yogurt substitutes.

Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by macroeconomic factors such as consumer preferences, disposable income, and trade policies. In countries with a growing trend towards plant-based diets and a rising demand for healthier food options, the yogurt substitutes market is expected to see significant growth. Additionally, favorable trade policies and government support for the dairy alternatives industry are likely to further propel market growth. However, economic downturns and fluctuations in consumer spending can impact the demand for yogurt substitutes, making the market highly sensitive to global economic trends.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.