Vegan yogurt is a good option for those with lactose intolerance. Vegan yogurt market will gain more demand due to its health benefits. It provides benefits such as it helps in increasing the metabolism, which in turn leads to weight loss, and improves the bowel function. It is enriched with vitamins, amino acids, minerals, and essential fats, thus helping in having healthy skin and hair. These factors will propel the vegan yogurt market to grow in the future. However, it is expected that the high cost of vegan yogurt may hamper market growth.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Major factors driving the dairy-free yogurt market are the growing number of health-conscious consumers, the increasing number of vegan populations, and increasing demand for vitamin-enriched food and beverages that boost the growth of the global market. Also, the increasing demand for dairy-free yogurt has led to trending as an on-the-go breakfast product. Further, the growing number of urban population and increasing consumers belong to the high-income level group can be the factors that contribute to the growth of the dairy-free yogurt market in the developing countries. Also, celebrity endorsements and easy sale on online channels acknowledge people about health issues, the adoption of the vegan yogurt market increases with a rise in its market hold.
COVID-19 Scenario Analysis:
The lockdown has devastated the vegan yogurt market due to non – production as the industries are closed. Due to awareness, people are avoiding the consumption of meat. So, the first two months of lockdown were fruitful for the vegan market. People are stockpiling, which will result in a drastic shortage in the near future.
Due to the restrictions on import and export, the world is facing economic turbulence as the major portion of a country’s economy is from the vegan yogurt market.
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Key Benefits of the Report:
This study presents the analytical depiction of the global vegan yogurt industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global vegan yogurt market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global vegan yogurt market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global vegan yogurt market analysis based on competitive intensity and how the competition will take shape in coming years.
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