Yoghurt Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1428
Yoghurt Market size is driven by increasing awareness for health benefits from dietary consumption of product along with application in dairy products and food & beverages sector. Demographic & income trend coupled with shifting consumer eating preference is anticipated to propel the product growth in forecast time frame.
The product is related to dairy food industry. As it is processed by bacterial fermentation of the cow milk however goat, sheep and buffalo milk are also suitable. Basically, the product is consumed as a dessert or used in various recipes include raita, lassi and soup. Adoption of product by the consumers due to the availability of therapeutic & high nutritional value includes vitamin B12 and D, protein, minerals in the product are the key driving factors for yoghurt market growth.
The product market is segmented, based on product type includes fat free and regular. Regular yoghurt market is anticipated to occupy the largest position in this segment due to its less cost as compared to other. Though increasing consciousness among consumers regarding the consumption of fat free and healthy products is expected to fuel the fat free based product demand in this segment in future.
The availability of product in various forms includes frozen, drinks, set and greek. Set type of dairy product occupied the major position due to its thick texture, higher protein and low carbohydrates and usage in recipes. Though, drinks and frozen yoghurt is anticipated to show a healthy growth in this segment during predicted time frame. Furthermore, availability of several fruit flavored product along with health benefits is anticipated to propel the flavored drink and frozen yoghurt in upcoming years.
Additionally, rising awareness about the benefits of product among the people includes it has good probiotics or bacterial which improves the immune system by providing calcium. It helps in combat with diarrhea, lowering of blood cholesterol & anticarcinogenic effect and constipation also a driving factors for yoghurt market growth in upcoming years
Globally, in dairy products, this type is a better option for consumers having slight lactose intolerance, since at the time of production process most of the lactose is removed from the product. This leads to drive the scope of product among such consumers. Though, high lactose intolerance is the key restrain for the adoption of this type of dairy product, as a result it restricts the yoghurt market growth.
North America led by the U.S. is anticipated to be the key contributor in yoghurt market due to high consumption of the product and growth of dairy industry in this region. Though, this region is predicted to be a potential market for set type of dairy product due to adoption of advanced technology, large scale dairy operations and diversification of product. Increasing investments from small and big players, as they diversified the product by packaging and making methods has given a significant impact on yoghurt market.
Asia Pacific, led by China is expected to dominate the yoghurt market followed by India due to the population growth and high consumption of the product for its better taste and nutritional values. Furthermore, Japan is anticipated to show a substantial growth for the product owing to expansion of food & beverage industry in this region, this will fuel the product market in upcoming years.
Both North America and Asia Pacific are expected to stay as major consumers during the forecast timeframe owing to the vast consumption and production of milk based product in these regions.
Key players in yogurt industry include Ultima Foods, Sodiaal, Nestle, Chobani Inc., General Mills, and Kraft Foods Group, Inc., Red Mango, TCBY, Yogurtland and Menchie’s. Some other notable players include Danone Groupe SA, Yakult Honsha, SweetFrog, Stonyfield Farm and FAGE International.
The yoghurt market is characterized by numerous acquisitions & mergers to expand its productivity. For instance, in July 2016, Danone group had announced proposed acquisition of White Wave for around USD 10 billion, this deal will combine the world’s largest organic yoghurt brands named as stony field. This in turn is likely to fuel the yoghurt market in the U.S. region.
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