At 11.0% CAGR, the South & Central America Non-Dairy Yogurt Market is Projected to be Worth US$ 202.76 Million by 2030, Says Business Market Insights

According to Business Market Insights 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.

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