Global Yogurt Drink Market Is Expected to Reach USD 70.82 billion by 2028 : Fior Markets
Yogurt Drink Market by Type (Regular, low fat, fat- free), Distribution Channel (Super Markets and Hyper Markets, Specialty Stores, Convenience Stores and Others), Packing (Plastic Bottles, Pouches, Tetra Packs and Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028
Newark, NJ, June 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the *global yogurt drink market* is expected to grow from USD 39.71 billion in 2020 and to reach USD 70.82 billion by 2028, growing at a CAGR of 17.5% during the forecast period 2021-2028.
The yogurt drink market is witnessing significant growth from the past years. Yogurt is a dairy product that is formed by the fermentation of sugars present in milk by using bacteria called Streptococcus thermophiles. Yogurt is a good source of calcium, potassium, phosphorous, protein, zinc, iodine, pantothenic acid, vitamin B5, vitamin B12, riboflavin (B2). It helps in maintaining proper diet. Generally yogurt is produced from cow milk or buffalo milk or goat milk, but mainly cow’s milk is preferred. Yogurt helps in cleaning and maintaining digestive system. There are many flavors in yogurt products like chocolate, vanilla, strawberry, mango, aloe Vera and many more. Yogurt is made available in convenient stores, super markets, small grocery shops and through online channels. The sales of drinkable yogurt were first started in Japan.
The global yogurt drink market is expected to witness significant growth, owing to constant research, development and launch of innovative & new flavors including yogurt with probiotic combinations, growing health conscious and diet concerns among consumers, rising demand for convenient food products, increased disposal income, growing urbanization, rising demand for probiotic food and healthier snack products. Increased frequency of obese people is anticipated to serve yogurt drinks. The factors restraining the market growth are high costs, high sugar contents in yogurt drinks, regulatory bodies that limit the usage of yogurt to 3 cups a day, rising veganism across the world, increasing competitor’s products. Addition of sweeteners and stabilizers is the other factor that hinders the market. An opportunity to create a new range of products that are low sugar content products and fat- free products is expected to drive the market growth. Development of organic yogurt drinks will provide market growth opportunities.
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Key players operating in global yogurt drinks market include Nestle India Limited, Danone, Muller, Fonterra, Yakult, General Mills, Amul, Gujarat Co-operative Milk Marketing Federation Limited, Bright Dairy, Mother Dairy, Bio Green Dairy, Friesland Campina, China Mengniu DairyFlora Proactiv, Grupo Lala, Karoun Dairies, Hangzhou Wahaha Group, Lashbrook Lassis, Inner Mongolia Yili Industrial Group, Powerful Men, Temple Turmeric, Marquez Brothers International, Raisio Group, Tropical Cheese Industries, Drums Food International Private Limited, Cocoberry Retail Pvt ltd., Red Mango FC, Britannia Industries Ltd, Heritage Novandie Foods Private Limited., Parag Milk Foods Limited, GCMMF, Yogurt Service chain market, Flavours24, Karnataka Co-operative Milk Producers Federation, Polo Foods QSR Private Limited, Granarolo S.p.A., Yakult Honsha Co Ltd., Valio Ltd., Benecol Ltd, Ultima Foods Inc, Dana Dairy Group. Kraft Foods Group Inc., Kiwikiss LLC, Sodiaal S.A., Pillars Yogurt.
*Regular yogurt segment dominated the market and held the largest market share of 39.59% in the year 2020*
On the basis of type, the global yogurt drink market is segmented into regular, low fat, fat- free. Regular yogurt segment dominated the market and held the largest market share of 39.59% in the year 2020. This growth is attributed to the acceptance of high protein products by the consumers, affordable cost and easy availability of the products. Increasing awareness regarding the disadvantages of high sugar intake that heads to obesity, heart diseases is considered as the other driving factor that propels the market growth. Low fat and fat-free segments are the fastest growing segments that are getting extremely popular among the consumers in India due to their proven health benefits.
* **Super Markets and Hyper Markets segment dominated the market and held the largest market share of 43.12% in the year 2020*
On the basis of distribution channel, the global yogurt drink market is segmented into Super Markets and Hyper Markets, Specialty Stores, Convenience Stores and Others. Super Markets and Hyper Markets segment dominated the market and held the largest market share of 43.12% in the year 2020. This growth is attributed to the expansion of modern retail chains in many countries such as Malaysia, Indonesia, Phillipines and Thailand. After super markets and hyper markets, Convenience stores held the largest market share owing to the development in the packing & distribution technologies and advancements in dairy farms along with increase in wide variety of products.
*Plastic Bottle Packing segment dominated the market and held the largest market share of 41.23% in the year 2020*
On the basis of packing, the global yogurt drink market is segmented into Plastic Bottles, Pouches, Tetra Packs and Others. Plastic bottle packing segment dominated the market and held the largest market share of 41.23% in the year 2020. This growth is attributed to the changing life styles of the customers, convenience to carry and adoption of on – the – go products.
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*Regional Segment of Yogurt Drink Market*
· North America (U.S., Canada, Mexico)
· Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
· Asia-Pacific (China, Japan India, Rest of APAC)
· South America (Brazil and Rest of South America)
· Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global yogurt drink market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia- Pacific region held the largest market share of 37.47% in the year 2020. This growth is ascertained by Asia – Pacific owing to supported regulatory environment, rising income levels, higher GDP, large population base, changing lifestyles, consumers awareness regarding the probiotic products and supplements, growing health concerns, increasing demand for dairy based products, enhanced reach among distributors and retailers and shifting demand by consumers from sugar based drinks to healthy yogurt beverages. In Asia- Pacific region, India and China are the fastest growing markets.
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*About the report:*
The global yogurt drink market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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