MEA Plant-Based Yogurt Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Sales Channel (Offline, Online), By Flavour (Regular, Flavoured), End-User (Food Services, Household), And By Country - Forecasts From 2022 To 2027
- Published : May 2022
- Report Code : KSI061614198
- Pages : 90
The MEA plant-based yogurt market is estimated to be valued at US$20.021 million in 2020. Milk is produced from nuts such as almonds, cashews, coconut, flax seeds, oats, plantains, and even peas to make plant-based yogurt. They provide a healthy choice of active probiotic bacteria, which is healthy for the gut. According to research commissioned by SPINS and released by the Plant-Based Foods Association and The Good Food Institute, plant-based yogurt has gained 39 percent in the last year, while conventional yogurt has fallen 3 percent. One of the driving factors behind the growth of plant-based yogurt and veganism in MEA is people's growing concern about their health. Second, lactose sensitivity makes it difficult for people to consume dairy products. The growth of the market has been boosted by plant-based yogurt. Finally, these yogurts are made from a variety of sources and come in a variety of tastes, which has boosted their popularity. Furthermore, as the commercial dairy industry faces some challenges in the next years, the plant-based yogurt business has attracted significant investment from entrepreneurs.
The growing demand for vegan products, as well as the increased use of convenience foods and other sectors, will drive the expansion of the plant-based yogurt market in MEA However, plant-based yogurts are priced much higher than conventional yogurts all over the world. The rise in R&D is fuelling the growth and demand for plant-based yogurt in MEA. North America and Europe are the lucrative markets for this segment, but changing dynamics are favouring the MEA region, which is considered to be an important market for plant-based yogurt market. Acceptance of plant-based foods in the Middle East and Africa is largely determined by customer perceptions. Further, younger consumers rely heavily on social media platforms and are frequent "out-of-home" shoppers. Businesses catering to this demographic must employ proper marketing and advertising strategies.
Kite Hill, a vegan company that specialises in creating plant-based yogurt and cheese, has remained a stronghold for General Mills. Kite Hill has received an extra $40 million in funding from 301 Inc., a venture capital firm owned by General Mills. Kite Hill intends to use the funds to enhance its manufacturing capacity. Lavva collaborated with sprout supermarkets around the world to showcase their vanilla and original lava yogurt. Plant-based foods are continuing product development in Western countries, and economic forces in the Middle East and Africa are attempting to expand through partnerships.
By sales channel, the MEA plant-based yogurt market is segmented into offline and online. Offline stores are further classified into supermarkets, convenience stores, and specialty stores. Supermarkets, convenience stores, and online purchasing are going to boost the market in the forecasted period. COVID-19 brought changes in the purchasing patterns of individuals, and hence, online shopping surged and was seen to be bringing more sales.
By flavour, the MEA plant-based yogurt market is segmented into regular and flavoured. The flavoured yogurt market is going to surge as different flavours are entering the market and companies are coming up with products that cater to different flavours and taste profiles.
By end-user, the MEA plant-based yogurt market is segmented into food services and households. Both segments are contributing to the market. Post-COVID households have started to use them at home and online shopping has surged. Since it is a healthy option for food services, they keep it in stock in hotels and restaurants.
By country, the MEA plant-based yogurt market segmented different countries in the Middle East and Africa. The growth of veganism in the United Arab Emirates is boosting demand for plant-based yogurt in the country, as customers see it as a recent development for a cleaner lifestyle and good habits. While physical reactions to foods are typical, a growing proportion of UAE citizens suffer from lactose intolerance, driving up the demand for dairy substitutes.
Growing public health concerns regarding the use of conventional animal-based food and beverage goods, as well as the adoption of vegan diets in the aftermath of the COVID-19 outbreak, are projected to promote the expansion of plant-based meat and dairy products in the region examined. After COVID hit the world, people started using alternatives to dairy products to maintain their health, and hence plant-based yogurt and other vegan products gained popularity.
MEA Plant-Based Yogurt Market Scope:
|Market size value in 2020||US$20.021 million|
|Growth Rate||CAGR during the forecast period|
|Forecast Unit (Value)||USD Million|
|Segments covered||Sales Channel, Flavour, End-User, And Country|
|Regions covered||South Arabia, UAE, Israel, South Africa|
|Companies covered||Lavva, Chobani, LLC, Danone S.A., Dean Foods Company, General Mills, Inc., Kite Hill, Forager Project, LLC|
|Customization scope||Free report customization with purchase|
Key Market Segments
- By Sales Channel
- Convenience Store
- Specialty Store
- By Flavour
- By End-user
- Food services
- By Country
- South Arabia
- South Africa
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Design
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. MEA PLANT-BASED YOGURT MARKET, BY SALES CHANNEL
22.214.171.124. Convenience Store
126.96.36.199. Specialty Store
6. MEA PLANT-BASED YOGURT MARKET, BY FLAVOR
7. MEA PLANT-BASED YOGURT MARKET, BY END-USER
7.2. Food services
8. MEA PLANT-BASED YOGURT MARKET, BY COUNTRY
8.1. South Arabia
8.4. South Africa
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrative
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.2. Chobani, LLC
10.3. Danone S.A.
10.4. Dean Foods Company
10.5. General Mills, Inc
10.6. Kite Hill
10.7. Forager Project, LLC
Dean Foods Company
General Mills, Inc.
Forager Project, LLC
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