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Good nutritional benefits (rich in protein, fiber and amino acids and a good source of plant-based protein)

Dietary Requirements & Preferences (good alternative for people who are lactose intolerant, allergic to dairy. approx 65-70-% of global pop (particularly east asia, north america & central asia) are lactose intolerant)

Environmental sustainability (soy requires less land and water as compared to animal agriculture)

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Health benefits (probiotic benefits that aid in digestion, gut health -> importance of gut health is getting more prioritized)

Changes in consumer trends & preferences (more consumers are adopting veganism, flexitarian lifestyles due to health, environmental and ethical concerns. Soy yogurt offers an alternative still with its added nutritional benefits) -> particularly strong amongst those aged 18 to 49

Government initiatives (also promote the growth of the soy yogurt market by implementing policies encouraging sustainable food production)

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The Soy-based Food Market size is estimated at USD 30.15 billion in 2025, and is expected to reach USD 41.21 billion by 2030, at a CAGR of 6.45% during the forecast period (2025-2030)

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Currently Soy is the biggest in the plant-based yogurt market, others include oat, almond, coconut

Almond-based yogurts seeing notable success in US while oat-based alternatives are gaining popularity in Europe

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Biggest producers of Soy yogurt in the market now

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Biggest producers of Soy yogurt in the market now

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Unites States:

Silk (owned by Danone): Leading plant-based brand that offers a variety of soy-based products (including yogurt). Also produces other plant-based beverages & creamers.

Kite Hill: A plant-based food company known for its almond-based products, but has also expanded into soy-based offerings.

Europe:

Alpro (owned by Danone): European brand that is a global leader in plant-based products. Dominates the European soy yogurt market.

Hong Kong:

Vitasoy: Biggest driver of plant-based products in the Asian market with broad portfolio of soy-based products (including yogurt)

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Global demand and growth for Plant-based yogurt 

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Global demand and growth for Plant-based yogurt 

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The global plant-based yogurt market is projected to grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2030. (Grand View Research)

In 2023, soy yogurt held a 36.06% revenue (highest out of the other plant-based yogurts).

However, the oat yogurt sector is also expected to grow at a significant CAGR from 2024 to 2030, due to its broad appeal and rising popularity as a sustainable and allergen-friendly option.

Oat-based products are more environmentally friendly since oats require less water and fewer resources to cultivate compared to nuts and soy. Additionally, oat yogurt caters to consumers with soy, nut, or dairy allergies, broadening its market reach.

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Plant-based Yogurt Market Size, Share & Trends Report 2030

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The global plant-based yogurt market size was estimated at USD 3.08 billion in 2023 and is expected to expand at a CAGR of 13.9% from 2024 to 2030

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The growth of the soy market can be attributed to several factors:

1. The increasing adoption of vegan and flexitarian lifestyles due to consumer awareness about health benefits, environmental sustainability, and ethical concerns has led to a fundamental shift in dietary preferences.

2. Rising prevalence of lactose intolerant individuals (approximately 65-70% of the global population). East Asian populations showing the highest prevalence at 90%, followed by Indigenous North Americans at 83%, and Central Asians at 80%

3. Implementation of government policies and initiatives focused on sustainable food production and consumption, and the introduction of laws to increase the adoption of plant-based alternatives.

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Biggest companies in the Soy-based market now

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Biggest companies in the Soy-based market now

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Danone SA

Nestlé SA

Conagra Brands

Impossible Foods

Unilever PLC

These companies are actively pursuing product innovation strategies, particularly in developing new plant-based meat alternatives with improved taste and texture profiles to meet evolving consumer preferences.

Significant investment in research and development is also being made by leveraging advanced technologies like artificial intelligence and machine learning to enhance product development.

Market leaders are also expanding their geographical presence through strategic partnerships and distribution agreements, while simultaneously strengthening their production capabilities through facility expansions and modernization.

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Meat substitutes holds the largest share in the soy-based market at 88.9%. This encompasses textured vegetable protein (TVP), tofu, and tempeh products that serve as alternatives to traditional meat products

Other segments in the soy-based food market include non-dairy yogurt, ice cream, and cheese, with non-dairy yogurt establishing itself as a significant category, appealing to health-conscious consumers seeking probiotic benefits in plant-based options.

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United States:

Dominates the North American market, driven by the adoption of meat alternatives, health concerns, and the USDA's support for soy protein's heart health benefits.

Retailers and food chains are expanding plant-based offerings, particularly in burgers, sausages, and dairy alternatives.

Mexico:

Fastest-growing in North America, with a CAGR of 6% growth rate from 2024-2029.

Growth driven by increasing health consciousness and environmental concerns are leading to more soy-based product adoption, especially in traditional foods like tacos and burritos.

Europe:

Shows strong growth across major economies (UK, Germany, Spain) driven by environmental, animal welfare, and health concerns.

The United Kingdom leads the European market (approx 17% market share).

Asia-Pacific:

Dominated by China, the region is seeing growth in both traditional soy foods and modern plant-based alternatives. Health awareness and rising incomes are key drivers.

India is the fastest-growing market, with a large vegetarian population contributing to demand for plant-based options.

Middle East & Africa:

The market, particularly in Saudi Arabia, is growing as awareness of health, animal rights, and sustainability rises, especially among urban youth.

South Africa is also a significant player in this region.

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North America is seen leading the global soy yogurt market driven by high demand for plant-based alternatives and a growing vegan population.

However, Europe is experiencing the most rapid market growth, fueled by European consumers' increasing adoption of healthier dietary practices, along with a strong demand for organic and plant-based products.

Additionally, emerging economies in Asia-Pacific are experiencing rapid growth in the soy yogurt market, fueled by rising disposable incomes and increasing urbanization.

Soy Yogurt Market: An Insightful Overview

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The Soy Yogurt Market is projected to grow at a compound annual growth rate (CAGR) of 15.5% from 2024 to 2030. (Virtue Market Research)

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Flavored plant-based yogurt accounted for a revenue share of 75.30% in 2023, due to its appeal to the taste preferences of a broad range of consumers.

With a large variety of flavors such as strawberry, blueberry, vanilla, and chocolate, they attract those looking for a tasty and enjoyable alternative to dairy yogurt.

Non-flavored plant-based yogurt is expected to grow at a significant CAGR from 2024 to 2030 driven by health-conscious consumers and those with dietary restrictions whom prefer plain yogurt that contains fewer added sugars and artificial ingredients.

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Regional Plant-based yogurt market trends

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Regional Plant-based yogurt market trends

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North America:

Expected CAGR of 13.8% from 2024 to 2030

Growth driven by lactose intolerance, dairy allergies & health benefits of plant-based diets. As well as increased popularity in veganism and flexitarianism and increased environmental concern and animal welfare.

US:

Expected CAGR of 13.9% from 2024 to 2030

Growth driven by increased retail presence due to shift from health food stores to mainstream supermarkets and convenience stores and more major dairy and specialised plant-based companies competing, driving innovation & expanding consumer choice.

Europe:

European market accounted for revenue share of over 37.26% in 2023

Long standing dairy tradition aids transition to plant-based alternatives.

Many European countries have a high percentage of lactose intolerant individuals further boosting the market.

With a robust regulatory framework in Europe, plant-based innovations are well supported.

Asia Pacific:

Expected CAGR of 14.8% from 2024 to 2030

Growth driven by urbanization, income rise, increasing health awareness and high percentage of lactose intolerant individuals.

Government initiatives in SG & China that promote healthier diets and sustainability also contribute to market growth.

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Challenges faced by the plant-based industry

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Challenges faced by the plant-based industry

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The plant-based market has seen tremendous growth in recent years, however, sales are starting to slow as consumers grapple with a range of pressures like inflation & rising costs.

1. While plant-based products offer health and sustainability benefits, they often come at a higher price compared to traditional animal-based counterparts. For many consumers, this price difference can be a barrier to regular purchases. With the Consumer Price Index (CPI) up 6.5% over the last 12 months, plant-based brands need to find ways to offer competitive pricing without compromising quality.

2. Consumer demand for transparency is growing, with the percentage of shoppers valuing clear product information rising from 69% in 2018 to 76% in 2023. Plant-based brands must be transparent to maintain consumer trust.

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Discover the latest trends and challenges in the plant-based market. Learn how brands can leverage consumer demand to drive success.

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Development of new flavors and textures

Plant-based and non-GMO certification

Fortification with probiotics and other health-promoting ingredients

Organic and sustainable production practices

Collaboration with foodservice and retail industries