Coconut Yogurt Market Synopsis

Coconut Yogurt Market Size Was Valued at USD 102.01 Million in 2023 and is Projected to Reach 302.32 Million by 2032, Growing at a CAGR of 12.83% From 2024-2032.

• Yoghurt is a nutrient-dense functional food made from lactic acid fermentation, and it has always played a major role in the spectrum of fermented food products responsible for improvements in health and wellness (Mostafai et al. 2019). Numerous studies have highlighted the therapeutic potencies of yogurt (Lee et al. 2013; Hassanzadeh-Taheri et al. 2018). Standard and probiotic yogurt including other cultured dairy products can ease diarrhea and shorten colonic transit time, improve innate immunity in middle-aged adults (Aryana and Olson 2017), and reduce the prevalence of vitamin D deficiency in hyperlipidaemic individuals (Mostafai et al. 2019).

• Despite these established health benefits, consumers’ interests are changing towards plant-based dietary products due to increased health awareness on the possible role fruits and vegetables could play in ameliorating diseases such as cancer, diabetes, central obesity, bacterial and viral infections, and cardiovascular-related illnesses. Fruits and vegetables are rich in functional food components such as minerals, vitamins, dietary fibers and antioxidants and do not contain any dairy allergens that might prevent usage by a certain segment of the population (Granato et al. 2010). Although coconut milk contains a high amount of saturated fats, it is regarded as a good choice as it is easily digested and serves as a rich source of nutrients. Besides, it is abundant in calcium, phosphorus, potassium, and C, E, and B6 vitamins. Notably, coconut milk contains proteins with large quantities of essential amino acids, lipids and antioxidants (Malgorzata et al. 2018).

Coconut Yogurt Market Trend Analysis

Plant-Based Alternatives, Probiotics, and Sustainability Driving Growth

• Several key trends are fueling notable growth in the global coconut yogurt market. Consumers are more and more interested in plant-based dairy alternatives and dairy-free probiotic products for their gut health, in line with the growing popularity of vegan and gluten-free diets. The growing number of consumers are increasingly seeking organic and natural products, choosing items that contain only minimal, natural ingredients and are free from additives and artificial preservatives. A prominent trend is the innovation of unique flavors, such as mango, strawberry, and chocolate, by brands to appeal to varied preferences, especially among younger consumers. The increased interest in personalized yogurt experiences has caused a rise in the need for yogurt makers and customizable yogurt choices.
• Sustainability and environmental accountability are key considerations, with consumers showing a preference for products that are ethically sourced and eco-friendly. The increasing retail presence and online shopping options are making coconut yogurt more available, thus fueling market expansion. The vegan yogurt industry is experiencing growth, specifically because of the increasing popularity of veganism and the demand for dairy alternatives. This trend is driven by health advantages, environmental issues, and the increasing number of lactose-intolerant individuals in areas such as Europe and Asia. The COVID-19 crisis has boosted the need for healthy and secure vegan items, as customers prioritize well-being and dietary limitations, ultimately boosting the market's expansion possibilities.

Opportunity 

The key opportunity lies in expanding into untapped markets with innovative flavors and health health-conscious approach.

• The market for vegan yogurt is being driven mostly by consumers' growing attention on their health. People are moving toward plant-based alternatives due to concerns about the possible health risks associated with dairy products, such as their high cholesterol and saturated fat content. Vegan plant-based yogurt is regarded as a heart-healthy option because it is enriched with essential elements that plant-based diets sometimes lack.
• In addition, a major contributing cause is the rise in dietary restrictions such as lactose intolerance and milk allergies. Since vegan yogurt is hypoallergenic and inherently lactose-free, it makes a convenient replacement. Since creating vegan yogurt consumes less resources and emits fewer greenhouse emissions than producing typical dairy, environmental concerns are also driving market expansion. This is consistent with consumers' increasing demand for eco-friendly items.
• Opportunities in the industry are growing, particularly in uncharted territories where consumers are becoming more aware of a range of plant-based sources, including rice, oats, and peas. Unique flavors are attracting more customers due to their inventive tastes and health benefits, such as improved digestion. The COVID-19 epidemic has caused an even greater increase in the number of people who are flexitarians and vegans, which has increased demand. The demand for vegan yogurt is rising as a result of the global expansion of the vegan movement, which emphasizes sustainability, animal rights, and health. In response, companies are providing a range of products.

Coconut Yogurt Market Segment Analysis:

The Coconut Yogurt Market is Segmented based on Type, Application, nature, function, source, form, distribution channel, and region.

By Application, Frozen Deserts Segment Is Expected To Dominate The Market During The Forecast Period

• The popularity of vegan yogurt is increasing as a base for frozen treats due to its delicious taste and smooth consistency, which closely resemble traditional dairy products. Due to its versatility, it can effortlessly mix with numerous tastes, sugars, and enhancements, making it an ideal component for a range of frozen treats like sorbets, frozen yogurts, and ice creams. Technological advancements in food processing have led to significant enhancements in the texture and taste of vegan frozen treats, boosting their popularity among consumers and driving growth in the industry.
• Vegan yogurt is increasingly being incorporated into various culinary uses beyond just frozen desserts. Its flexibility in both savory and sweet dishes is demonstrated by its widespread use in smoothies, salads, baked goods, and desserts. Vegan yogurt is increasingly being added to a variety of products quickly due to the growth of ready-to-eat (RTE) and convenience food industries. Its extended shelf life, unlike most dairy yogurts, makes it ideal for long-lasting packaged goods, appealing to both producers and consumers. Vegan yogurt is seen as a highly versatile and attractive ingredient in the food industry because of its improved taste and texture, extended shelf life, and increasing demand for plant-based products. There is an expectation for the market for vegan yogurt to expand as consumers seek out food choices that are both sustainable and healthful. It will attract a broader group of customers and stimulate innovative thinking in developing new products across different food sectors.

By Distribution Channel, Supermarkets Segment Held The Largest Share In 2023

• The market for vegan yogurt is broken down into distribution channels, which include convenience stores, supermarkets/hypermarkets, internet sales channels, and others. In 2021, it is anticipated that supermarkets/hypermarkets will have the biggest market share. Customers especially benefit from supermarkets and hypermarkets because of their wide selection of products and the ease of buying in bulk. These establishments provide a large range of product options under one roof, increasing customer knowledge of new brands and product releases and propelling the sector's growth.
• It is anticipated that hypermarkets and supermarkets will account for 35.5% of the vegan yogurt industry by 2024. Customers find them quite appealing because they can find a wide range of vegan yogurt brands, types, and package sizes all at one place. These expansive retail establishments offer ample shelf space for a wide range of products, satisfying varying palates and dietary requirements. Supermarkets can obtain cutting-edge products from both national brands and regional artisan manufacturers thanks to their size and purchasing power. This range of vegan yogurts includes specialty formulas like high-protein, low-sugar, and gluten-free options. • Supermarkets provide vegan yogurt enthusiasts a handy one-stop shop, catering to both dedicated vegans and those wishing to cut back on their intake of animal products. Their well-stocked aisles guarantee that customers won't experience stockouts and will always have dependable access to their favorite brands. Supermarkets' continuous provision of a variety of vegan yogurt options solidifies their position as the primary distribution channel.
• Supermarkets and hypermarkets are expected to hold their dominant position in the vegan yogurt market as long as veganism remains popular. This is because of their robust supply chains, wide range of products, and ability to provide convenience to customers on regular shopping trips. This distribution channel is positioned as a major actor in the changing market landscape because to its capacity to meet a broad range of customer wants and preferences.

Coconut Yogurt Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast Period in 2023

• The United States is at the forefront in producing and consuming plant-based foods, with retail sales projected to increase as plant-based diets become more popular. Heightened lactose sensitivity may provide a potential increase in demand for vegan yogurt shipments. The dairy-free yogurt market is growing due to the popularity of health and fitness trends driving demand for functional foods. Factors such as being aware of weight loss, the nutritional advantages, and the variety of flavors drive the popularity of low-fat yogurt.
• It is anticipated that almond, cashew, oat, nut milk, and hemp yogurts will become increasingly popular in the coming decade. In March 2022, AYO launched a new selection of plant-based yogurt, which includes a variety of flavors of "plain almond milk yogurt," targeting vegan and keto dietary preferences. North America is the leading region in the worldwide vegan yogurt market, expecting to hold 34.9% of the market share by 2024 due to health, environmental, and ethical factors. Major yogurt companies are taking advantage of this trend by introducing vegan options, which allows them to tap into consumers' readiness to spend more money for health advantages. The growth of private labels and niche brands increases the presence and accessibility of vegan yogurts in the area.

Coconut Yogurt Market Top Key Players: 

• Nakula (Australia)
• COYO (Australia)
• Nutty Bruce (Australia)
• So Delicious (USA)
• Cocoyo by GT’s Living Foods (USA)
• Forager Project (USA)
• Lavva (USA)
• Yoconut Dairy-Free (USA)
• Cocojune (USA)
• Follow Your Heart (USA)
• Hälsa Foods (USA)
• The Collaborative (formerly The Coconut Collaborative) (USA)
• Wildwood (USA)
• Good Karma Foods (USA)
• Daiya Foods (Canada)
• Le Grand (Canada)
• Vegurt by Yoso (Canada)
• Maison Riviera (Canada)
• Alpro (Belgium)
• Provamel (Belgium)
• Nourish Kitchen (Singapore)
• Harvest Moon (Germany)
• Sojade (France)
• Yooga (Netherlands)
• Abbot Kinney’s (Netherlands)
• Nush Foods (UK)
• The Coconut Collaborative (UK)
• Koko Dairy Free (UK)
• Rude Health (UK)
• COYO by Co-Yo Ltd. (UK) and Others are Major Players.

Key Industry Developments in the Agave Nectar Market:

• In Jan 2022, Daiya Foods Inc. announced a new sales and distribution partnership with Hyundai Green Food to introduce its dairy-free and plant-based products in the South Korean market.
• In Mar 2022, General Mills introduced a new plant-based yogurt alternative to meet rising consumer demands.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. COCONUT YOGURT MARKET SEGMENT BY TYPE (2017-2032)
   1. COCONUT YOGURT SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. PLAIN
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. FLAVOURED
7. COCONUT YOGURT MARKET SEGMENT BY NATURE (2017-2032)
   1. COCONUT YOGURT SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. SEGMENT ORGANIC
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. SEGMENT CONVENTIONAL
8. COCONUT YOGURT MARKET SEGMENT BY APPLICATION (2017-2032)
   1. COCONUT YOGURT SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. BREAKFAST FOODS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. FROZEN DESSERT
   5. BAKING AND COOKING
9. COCONUT YOGURT MARKET SEGMENT BY DISTRIBUTION CHANEL (2017-2032)
   1. COCONUT YOGURT SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. SEGMENT OFFLINE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. SEGMENT ONLINE
10. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Benchmarking
       2. Coconut Yogurt Share By Manufacturer (2023)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. NAKULA
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. COYO (AUSTRALIA)
    4. NUTTY BRUCE (AUSTRALIA)
    5. SO DELICIOUS (USA)
    6. COCOYO BY GT’S LIVING FOODS (USA)
    7. FORAGER PROJECT (USA)
    8. LAVVA (USA)
    9. YOCONUT DAIRY-FREE (USA)
    10. COCOJUNE (USA)
    11. FOLLOW YOUR HEART (USA)
    12. HÄLSA FOODS (USA)
    13. THE COLLABORATIVE (FORMERLY THE COCONUT COLLABORATIVE) (USA)
    14. WILDWOOD (USA)
    15. GOOD KARMA FOODS (USA)
    16. DAIYA FOODS (CANADA)
    17. LE GRAND (CANADA)
    18. VEGURT BY YOSO (CANADA)
    19. MAISON RIVIERA (CANADA)
    20. ALPRO (BELGIUM)
    21. PROVAMEL (BELGIUM)
    22. NOURISH KITCHEN (SINGAPORE)
    23. HARVEST MOON (GERMANY)
    24. SOJADE (FRANCE)
    25. YOOGA (NETHERLANDS)
    26. ABBOT KINNEY’S (NETHERLANDS)
    27. NUSH FOODS (UK)
    28. THE COCONUT COLLABORATIVE (UK)
    29. KOKO DAIRY FREE (UK)
    30. RUDE HEALTH (UK)
    31. COYO BY CO-YO LTD. (UK) AND OTHERS ARE MAJOR PLAYERS.
11. GLOBAL COCONUT YOGURT MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Nature
       4. Historic And Forecasted Market Size By Type
       5. Historic And Forecasted Market Size By Application
       6. Historic And Forecasted Market Size By Distribution Channels
       7. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
12. INVESTMENT ANALYSIS
13. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis

Potential Market Strategies