Plant-Based Yogurt Surges as ANZ Brands Feel the Squeeze

Global plant-based yogurt is quietly climbing at a 9.2% annual growth, driven by gut-health hype, dairy fatigue, and the rise of “clean comfort foods” that look and behave like the real thing without the lactose hangover. And while oat and almond yogurts are having their moment, it’s coconut yogurt that keeps showing up in shopping baskets because consumers trust the texture, thick, creamy, reliable.

The category finally feels grown-up rather than gimmicky.

But here’s the uncomfortable truth no one mentions when quoting growth stats: the ANZ coconut-yogurt scene, from New Zealand’s much-loved Raglan to Australia’s COYO and Coco Bella, sits on a fragile supply chain. These brands don’t have local coconuts to tap. They rely on imported inputs from Thailand and Sri Lanka, which means freight spikes, weather events, export restrictions, and geopolitics can hit margins overnight. The products may feel homespun, but the business reality is anything but.

Consumers think they’re buying “local and wholesome,” yet behind the scenes it’s a delicate balancing act between global supply, fluctuating coconut cream prices, and retailers demanding tighter margins. If the plant-based yogurt boom continues, and it will, the real question is whether ANZ coconut yogurt makers can keep up without being eaten alive by their own ingredient costs.

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