Newark, June 21, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 109.3 billion in 2022 yogurt market will reach USD 190.4 billion by 2032. Yogurt is a soured dairy product made from homogenized, fermented pasteurized milk that is commonly sweetened or flavored. It can be consumed in a number of forms, including beverages, snacks, desserts, meals in place of other foods, and protein-rich sports drinks. Yogurt has a number of health benefits, including improved immunity, lower blood pressure, and bad cholesterol, improved weight loss and fat loss, healthy digestion, a lower risk of type 2 diabetes, protection against colon cancer, and prevention and treatment of osteoporosis.
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Key Insight of the Yogurt Market
Asia Pacific is anticipated to expand at the fastest CAGR of 6.1% over the projection period.
Asia Pacific is expected to grow at the fastest CAGR of 6.1% over the forecast period. There is a sizable and densely populated customer base in the Asia-Pacific area. Yogurt consumption has grown significantly as a result of expanding urbanization and disposable incomes in nations like China, Japan, India, and South Korea. Particularly urban customers have demonstrated an increasing desire for quick and healthful meal alternatives like yogurt.
In the yogurt market, the flavored segment is anticipated to expand at the highest CAGR of 6.4% over the projection period.
The flavored segment is anticipated to expand at the highest CAGR of 6.4% over the projection period. By providing a variety of tastes, flavored yogurts appeal to the taste preferences of their customers. Popular choices in this section include strawberries, blueberries, mango, peach, and many others. Manufacturers can attract customers who prefer sweet or more delicious tastes by offering a variety of flavor profiles. Flavored yogurts are frequently promoted as a quick and easy-to-consume snack. They are convenient for consumption on the go because they are available in single-serve cups or pouches. Flavored yogurt is a popular fast and simple snack or breakfast choice due to its mobility and simplicity of consumption.
In the yogurt market, the set yogurt segment is anticipated to expand at the highest CAGR of 6.3% over the projection period.
The set yogurt segment is anticipated to expand at the highest CAGR of 6.3% over the projection period. The attraction of set yogurt is frequently traditional and handmade. They are similar to yogurts manufactured at home or using conventional fermenting techniques. This nostalgic aspect may be a powerful selling feature, especially for those that prioritize authenticity and natural food production. Set yogurts are also adaptable and have a variety of culinary uses. They are useful for cooking, baking, and as a recipe element due to their thicker consistency. Set yogurts can be used as a substitute for creams or sour cream in some recipes as well as in sauces, marinades, dips, and desserts.
In the yogurt market, the non-dairy-based segment is anticipated to expand at the highest CAGR of 6.8% over the projection period.
The non-dairy-based segment is anticipated to expand at the highest CAGR of 6.8% over the projection period. The demand for non-dairy yogurts has been fuelled by the growth in plant-based diets and the rise in people accepting vegetarian, vegan, or flexitarian lifestyles. Dairy-free or lactose-intolerant consumers look for alternatives that suit their nutritional needs and moral principles. Additionally, the prevalence of lactose sensitivity has increased the demand for non-dairy yogurt alternatives. Yogurts made without dairy are a good substitute for those who have upset stomachs after ingesting dairy products. Additionally, non-dairy options are available for people who have allergies or sensitivities to dairy.
In the yogurt market, the online segment is anticipated to expand at the highest CAGR of 6.9% over the projection period.
The online segment is anticipated to expand at the highest CAGR of 6.9% over the projection period. Customers have the ease of ordering yogurt goods from the ease of their homes via online platforms. They may shop from a variety of yogurt companies, flavors, and types at their leisure, compare pricing, and complete transactions. Consumers save time and effort by abandoning in-person store visits when they purchase online. Yogurt producers have access to online marketplaces where they may offer their goods directly to customers. Overcoming conventional distribution channels gives manufacturers greater authority over the sales cycle and client interactions. Manufacturers may also gain important information and insights about customer preferences and habits through direct sales to consumers.
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Market Dynamics
Driver
In recent years, there has been a tremendous amount of product innovation in the yogurt sector. To satisfy a variety of consumer tastes, manufacturers are developing a broad range of yogurt flavors, textures, and varieties. This includes yogurt with additional functional elements including fiber, antioxidants, and vitamins as well as Greek yogurt, dairy-free yogurt, plant-based yogurt, and low-fat and fat-free alternatives.
Opportunity
New sales channels for yogurt have emerged as a result of the e-commerce growth. Manufacturers can reach a bigger audience through the accessibility and convenience that online retail platforms provide for customers. Yogurt businesses have the chance to connect directly with customers, collect data, and create individualized experiences through direct-to-consumer channels like subscription services or online marketplaces.
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Some of the major players operating in the yogurt market are:
• Arla Foods
• DSM
• Amul
• CoolBrands International
• Parmalat S.p.A
• Dean Foods
• Juhayna Food Industries
• Chobani LLC.
• Nestle
• Danone (Yakult)
• Britannia Industries Ltd.
• FrieslandCampina
Key Segments cover in the market:
By Flavor
• Flavored
• Plain
By Type
• Frozen Yogurt
• Greek Yogurt
• Set Yogurt
• Others
By Source
• Non-Dairy Based
• Dairy-Based
By Distribution Channel
• Supermarkets/hypermarkets
• Convenience Stores
• Specialty Stores
• Online
• Others
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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