South America Plant-based Yogurt Market Outlook, 2028

South America, famous for its unique cultures, landscapes, and culinary traditions, is undergoing a huge shift in nutritional preferences as consumers seek healthier, more sustainable, and ethical food options. The increased popularity of plant-based yogurt is one prominent trend impacting the South American culinary landscape. South American countries are noted for their distinct flavors and ingredients. Plant-based yogurt makers in the region frequently draw inspiration from these native elements to develop yogurt variations that appeal to local preferences. Brazilian aça-based yogurts and Peruvian lucuma-infused versions, are gaining popularity. South America has a long history of plant-based culinary traditions, such as traditional diets that include nuts, seeds, and fruits. This cultural familiarity with plant-based components has contributed to plant-based yogurt's rapid acceptance among consumers. South American customers are growing more health-conscious, as are their peers elsewhere. Plant-based yogurt is frequently seen as a healthier option to traditional dairy yogurt because it is lower in saturated fat and cholesterol-free. Demand has been fueled by this appeal to health-conscious consumers. Lactose intolerance is common in South America, and many consumers seek dairy-free alternatives to alleviate intestinal discomfort. This dietary requirement is met by plant-based yogurt, which is naturally lactose-free. South American consumers are becoming more conscious of environmental issues and the influence of their food choices. Plant-based yogurt accords with sustainability goals and attracts environmentally concerned consumers due to lower greenhouse gas emissions and water usage compared to dairy manufacturing. The South American plant-based yogurt market is distinguished by innovation and a diverse product offering. To accommodate local tastes and preferences, manufacturers create a wide range of flavors and compositions, frequently influenced by regional culinary traditions. According to the research report, “South America Plant-based Yogurt Market Outlook, 2028” published by Bonafide Research, the market is anticipated to grow during the forecast period. The South American plant-based yogurt market is expanding rapidly, driven by a variety of factors such as rising demand for vegan and lactose-free products, rising health consciousness among consumers, and the growing popularity of plant-based diets. The dairy sector is South America's major source of plant-based yogurt. Dairy companies are investing in research and development to create more enticing plant-based yogurt products. They are also increasing their distribution networks to increase consumer access to plant-based yogurt. In recent years, the market for plant-based yogurt in South America has grown substantially, with numerous businesses playing critical roles in its evolution. This increase can be linked to a number of factors, including shifting consumer preferences, rising health consciousness, and a growing understanding of the environmental impact of dairy production. Among the industries contributing to South America's thriving plant-based yogurt market, agriculture stands out as the foundation. Soybeans, almonds, coconuts, and oats are among the plant-based yogurt ingredients that have witnessed substantial growth. Sustainable farming practices have been adopted by South American countries, providing a stable supply of these key nutrients. Furthermore, the food processing industry has made significant efforts in R&D to generate new and appetizing plant-based yogurt products. These companies have refined their procedures to replicate the creamy texture and flavors of regular dairy yogurt while also ensuring that their products are lactose-free, cholesterol-free, and low in saturated fats. New production methods, including fermentation technology, have also helped to improve the quality of plant-based yogurt, making it more appealing to customers.

Based on countries market is segmented into Brazil, Argentina and Colombia. Among them Brazil is expected to lead the market of South America during the anticipated time frame. Brazil has the most residents in South America, giving it a sizable consumer base for plant-based products. The market potential in Brazil is enormous, with an increasing number of health-conscious individuals seeking alternatives to typical dairy yogurt. Brazil's agricultural sector is solid, and it can supply crucial ingredients for plant-based yogurt production, such as soybeans, oats, and coconut. Because of its fertile territory and good climate, the country is a great place to farm these raw materials, ensuring a consistent and cost-effective supply. Brazilian food is well-known for its variety of flavors and culinary traditions. This variety extends to plant-based products, with Brazilian manufacturers producing a wide selection of flavors and kinds of plant-based yogurt to suit consumers diverse tastes. Brazilian food companies have been investing in R&D to create high-quality plant-based yogurt products that taste and feel like regular dairy yogurt. This dedication to innovation has aided in consumer acceptance and market expansion. Brazilian society has a long history of ingesting yogurt-type goods like "iogurte," making the transition to plant-based alternatives easier. Customers are willing to incorporate plant-based yogurt into their diets while maintaining their culinary heritage. Based on product type market is divided into soy, almond, rice and others. The market for plant-based yogurt products in South America is diverse and evolving, catering to the region's distinct culinary traditions and dietary preferences. Soy-based yogurt is a prominent product type that has developed a firm foothold due to its high protein content and adaptability. Brands such as Sabor Soja and Soymilke provide a wide range of soy yogurt products that are frequently infused with local fruit flavors and traditional ingredients, making them appealing to consumers who are accustomed to soy as a dietary staple. Another popular option in South America, where coconuts are abundant and cherished in regional cuisines, is coconut milk yogurt. Coconut yogurt with a tropical twist incorporates real coconut pieces, lively fruit essences, and occasionally spices or herbs to produce a delectable combination of flavors that resonate with local tastes. Furthermore, because of South America's rich agricultural legacy, novel plant bases such as quinoa and amaranth have been experimented with. These ancient grains are being used to make yogurt products that honor indigenous components while also catering to health-conscious consumers. The distribution channel of the market include hypermarkets and supermarkets, convenience stores, e-commerce and others. The market is significantly dominated by hypermarkets and supermarkets in South America. These enormous retailers provide a lot of shelf space for many food categories, including dairy alternatives. This enables them to provide a diverse and complete assortment of plant-based yogurt brands, flavors, and styles to South American consumers, according to their diverse tastes and nutritional concerns. Customers who want to stock up on staple items like yogurt will appreciate the convenience of hypermarkets and supermarkets. Purchasing in bulk can save money, especially for families or people on a tight budget. Supermarkets and hypermarkets have a well-established and vast retail network throughout South America. Because of their vast geographic coverage, plant-based yogurt products are easily accessible to people in urban, suburban, and rural locations, making them a handy alternative for a diverse customer base. The ability to buy in bulk in supermarkets and hypermarkets appeals to customers who want to stock up on essentials like yogurt. Bulk purchases can save money, especially for families or individuals looking for affordable solutions.

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Manmayi Raval

Research Consultant

Considered in this report • Geography: South America • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South America Plant-based Yogurt with its value and forecast along with its segments • Country-wise Plant-based Yogurt market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • Brazil • Argentina • Colombia

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By Product Type: • Soy • Almond • Rice • Others By Distribution Channel: • Hypermarkets and Supermarkets • Convenience Stores • E-Commerce • Others The approach of the report This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organisations related to the Plant-based Yogurt industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.