(I-BusinessNews.Com, June 27, 2021 ) Yogurt Market size is estimated to reach $122.6 Billion by 2026, growing at a CAGR of 4.6% during the forecast period 2021-2026. Yogurt is basically a semi-solid food which is prepared from milk and fermented by bacteria, often sweetened and flavored. Yogurt is found to have numerous health benefits, including weight loss, decrease in inflammation, reduction of high blood pressure and improvement in metabolic rate. Growing demand for plant-based yogurts, increase in the demand for convenience foods, increase in the inclination towards sedentary lifestyle, growing incidences of lactose intolerance and lactose sensitivity, increase in the investment by the key players, and increase in the awareness about the health benefits of dairy-free yogurts are the factors that are set to drive the growth of the global market for the forecast period 2021-2026.
Yogurt Market Segment Analysis – By Type
The Yogurt Market based on the Type can be further segmented into Spoonable and Drinkable. The Spoonable segment held the largest share in 2020 owing to the factors such as increase in the availability of various flavors, rise in the disposable income of individuals and growing demand for non-dairy yogurts. The growing demand for flavored spoonable yogurts is driving the growth of the market. Drinkable segment is estimated to be the fastest growing segment owing to the factors such as growing demand for beverages, increase in the awareness about the health benefits of drinkable yogurts, growing demand for drinkable yogurts from athletes and rise in the investment by the major players.
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Yogurt Market Segment Analysis – By Category
The Yogurt Market based on the Category can be further segmented into Dairy Based Yogurt and Non-dairy Based Yogurt. Dairy Based Yogurt segment held the largest share in 2020 owing to the factors such as growing demand for convenience foods, increase in the investment by the major players and rise in the disposable income of individuals. The easy availability of choice of flavor in dairy-based yogurts is propelling the growth of the market. Non-dairy Based Yogurt is estimated to be the fastest growing segment with a CAGR of 5.3% during the forecast period 2021-2026. This is owing to the factors such as increase in the demand for plant-based products, growing incidences of lactose intolerance and lactose sensitivity and increase in the awareness about the health benefits of non-dairy yogurts.
Yogurt Market Segment Analysis – By Geography
The Yogurt Market based on the Geography can be further segmented into North America, Asia-Pacific, Europe, and Rest of World (ROW). Europe held the largest share with 34.6% of market in 2020. The growth in this segment is owing to the factors such as growing demand for plant-based foods among customers, increase in the product launches, growing demand for flavored yogurts and increase in the investment by the major companies. The growing demand for non-dairy yogurts in the region is propelling the growth of the market. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as growing incidences of lactose intolerance and lactose sensitivity, increase in the awareness about the health benefits of dairy-free yogurts and increase in the demand for convenience foods among the young population.
Yogurt Market Drivers
Rise in the incidences of lactose intolerance and lactose sensitivity
The rise in the incidences of lactose intolerance and lactose sensitivity among the customers across the world has made the manufacturers to increase its investment in non-dairy products, which is estimated to enhance the growth of the Yogurt Market.
Increase in the awareness about the health benefits of yogurts
The health benefits associated with the consumption of yogurt include healthy digestion, protection against colorectal cancer, lower risk of type 2 diabetes, enhanced weight loss, reduction of high blood pressure and improved immune system, which is driving the growth of Yogurt Market.
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Yogurt Market Challenges
Use of artificial additives and ingredients in the yogurt
The use of artificial additives and ingredients in the yogurt is restraining the demand owing to the growing demand for natural products in convenience foods among the customers across the world, which is one of the major factors that is estimated to reduce the growth of the Yogurt Market.
Yogurt Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Yogurt Market. Key companies of this market are The Hain Celestial Group Inc, Danone SA, Nestle SA, Chobani LLC, General Mills Inc, Arla Foods, FrieslandCampina, Britannia Industries Limited, China Mengniu Dairy Company Limited, and Yoplait among others.
Acquisitions/Product Launches:
In 2020, Danone has launched its dairy-free yogurt drink range to create a smooth and creamy texture without dairy and to accelerate its push into the dairy-free market.
In 2019, Nestle has launched YOGU nutritional yogurt, which contains five essential requirements for children, vitamins C, calcium, and zinc.
In 2019, General Mills Inc has launched dairy-free versions of its French style yogurt brand Oui to embrace plant-based protein in its product lineup.
Key Takeaways
Geographically, Europe Yogurt Market accounted for the highest revenue share in 2020 and it is poised to dominate during the forecast period 2021-2026 owing to the growing demand for non-dairy yogurts.
The easy availability of choice of flavors is driving the growth of the dairy based yogurt segment.
Use of artificial additives and ingredients is one of the major factors that is said to reduce the growth of the Yogurt Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Yogurt Market report.
Related Reports :
A. Non-dairy Yogurt Market
https://www.industryarc.com/Research/Non-dairy-Yogurt-Market-Research-513940
B. Flavored Yogurt Market
https://www.industryarc.com/Report/15009/flavored-yogurt-market.html
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