Global Yogurt Market is Fueled by Flavored Yogurt During the Forecast Period
The
global yogurt market has experienced significant growth in recent years, driven
by factors such as the increasing demand for healthier food options, the rising
popularity of yogurt-based desserts, and the growing consumer awareness about
the benefits of yogurt.
According to the TechSci
Research report, “Global Yogurt Market–
Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”
The global yogurt market has
witnessed significant growth in recent years and is projected to continue
expanding in the coming years. Several factors have contributed to the growth
and increasing popularity of yogurt worldwide. One of the primary drivers of
the global yogurt market is the growing consumer preference for healthier food
options. As people become more health-conscious, they are seeking nutritious
and convenient snacks or breakfast options. Yogurt, with its high protein
content, low-calorie nature, and potential health benefits, has emerged as a
preferred choice for many consumers.
Another key driver is the
rising demand for non-dairy alternatives. Factors such as lactose intolerance,
dairy allergies, and vegan preferences have led to an increased demand for
plant-based yogurts made from soy, almond, coconut, and other ingredients.
Manufacturers are introducing a wide range of non-dairy yogurt options to cater
to this growing consumer segment. The emphasis on health and
wellness is another significant driver of the yogurt market. Yogurt is
perceived as a healthy food choice due to its probiotic properties, which can
support digestive health and boost the immune system. The awareness of these
health benefits has led to increased consumption of yogurt among
health-conscious individuals.
Innovation in product
offerings has also played a crucial role in driving the global yogurt market.
Manufacturers constantly introduce new flavors, formulations, packaging, and
convenient product formats to attract consumers. The availability of a variety
of flavors, textures, and functional ingredients has expanded the consumer base
and contributed to the market's growth.
Globalization and
urbanization are also important drivers of the yogurt market. As urbanization
continues to rise worldwide, consumers have increased spending power and access
to a wider variety of food options. This has led to the introduction and
availability of different yogurt brands, flavors, and varieties in various
regions, driving market growth. The demand for on-the-go
snacking options has further fueled the growth of the yogurt market. Yogurt's
convenience factor as a portable and ready-to-eat snack option has made it a
popular choice among busy individuals, especially in urban areas.
In conclusion, the global
yogurt market is driven by factors such as growing consumer preference for
healthier food options, the rising demand for non-dairy alternatives, the
emphasis on health and wellness, innovative product offerings, globalization
and urbanization, and the demand for on-the-go snacking. As consumers continue
to seek nutritious and convenient food choices, the yogurt market is expected
to witness further growth and expansion in the coming years.
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The global yogurt market is
segmented based on type, form, packaging, sales channel, and region.
Based on type, the market is
segmented into flavored and non-flavored. Among these, the chair segment holds
a significant share of the global work from home market during the forecast
period. The flavored yogurt segment is experiencing rapid growth in the global
yogurt market, driven by factors such as increasing demand for convenient and
healthy snacking options, innovative flavor combinations, growing awareness of
health benefits, digital marketing influence, competition among manufacturers,
and the impact of the COVID-19 pandemic. As consumer preferences continue to
evolve, flavored yogurt is poised to remain a significant driver of growth in
the global yogurt market.
Based on sales channel, the market is segmented into supermarkets/hypermarkets, convenience stores, departmental stores, online, and others. Online retailers often offer competitive pricing due to lower overhead costs. They can bypass intermediaries and directly source products from manufacturers, resulting in cost savings that are passed on to the consumers. Price-conscious buyers find these discounted prices attractive and often choose to purchase yogurt online. As internet penetration continues to grow globally, more consumers are gaining access to online shopping platforms. This trend is particularly evident in emerging markets, where a significant portion of the population is becoming digitally connected for the first time. The expanding customer base presents a substantial growth opportunity for the online yogurt market.
Key market players operating in the global yogurt
market include:
·
Danone S.A.
·
Gujarat Cooperative Milk
Marketing Federation
·
General Mills Inc.
·
Parmalat S.p.A
·
Dairy Farmers of America,
Inc.
·
Juhayna Food Industries
·
Chobani LLC.
·
Nestlé S.A.
·
Britannia Industries Ltd.
·
Arla Foods Group
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“Factors contributing to this growth include
increasing consumer awareness regarding the health benefits of yogurt, the
introduction of innovative flavors and varieties, and the rising demand for
plant-based alternatives. The market is highly competitive, with various
international players focusing on product development and expansion strategies.
Overall, the future looks promising for the global yogurt industry.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Global Yogurt Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Flavored, Non-Flavored), By Form (Conventional Yogurt, Greek Yogurt, Set Yogurt, Frozen Yogurt, Yogurt Drinks, Others), By Packaging (Plastic Bottles, Tetra Packs, Others), By Sales Channel Market Share Analysis (Supermarkets/Hypermarkets, Convenience Stores, Departmental Stores, Online, and Others), By Region, By Competition Forecast & Opportunities, 2018-2028F, has evaluated the future growth potential of global yogurt market globally and provides statistics and information on market structure, size, share, and future growth. The report provides cutting-edge market intelligence and helps decision-makers to make sound investment decisions. Besides, the report also identifies the emerging trends along with essential drivers, challenges, and opportunities present in the market of global yogurt globally.
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