Global Drinkable Yogurt Market - Growth Drivers, Opportunities and Forecast Analysis to 2026
Summary - A new market study, titled “Global Drinkable Yogurt Market - Growth Drivers, Opportunities and Forecast Analysis to 2026” has been featured on WiseGuyReports.
The Global Drinkable Yogurt Market valued USD 1.3 billion in
2018 and is estimated to reach USD 3.3 billion by 2026, at a CAGR of 7.1%
during the forecast period.
Market Dynamics: Drivers, Restraints, Opportunities
Challenges:
Innovation driven Drinkable Yogurt is a well growing segment
of dairy beverages across the globe.
Yogurt is a dairy product produced by bacterial fermentation
of milk and is considered as the best source of probiotics for human gut
health. Yogurt is widely consumed as part of diet owing to its rich in nature
of nutrients including calcium and protein. The growing consumer interest
towards convenience food products resulted in evolution of drinkable yogurt.
The fast paced lifestyles of young and adult population resulted in increasing
adoption of these yogurt drinks as breakfast and snacking. Furthermore, the
innovation of drinkable yogurt blended with new flavors such as Aloe Vera and
coconut is strengthening the adoption of yogurt drinks among health conscious
population. According to Alove, a U.S. based Yogurt drinks manufacturer
operating as a subsidiary of Morinaga Nutritional Foods, Inc., Aloe Vera based
yogurt drinks witnessed a growth of over 30% in terms of new product launches
during 2017-2018 in U.S., thus forming a major growth segment of the market.
Aloe Vera is also rich in antioxidants that help clear and calm the skin, thus
making them drink of choice among female population.
However, addition of sweeteners and stabilizers to yogurt drinks is limiting the consumer interest, thus hindering the market growth. Yogurt drink manufacturers use stabilizers such as guar gum or xanthan gum for texturizing and artificial sweeteners such as high-fructose corn syrup for added taste. The rising production of non-dairy drinkable yogurt is estimated to increase the market penetration particularly among growing vegan population. Leading market players such as Dannon Ltd. And Chobani have introduced vegan yogurt drinks derived from almonds, soy, coconut, and other non-dairy sources to cater the demand from growing vegan population. The Vegan Society stated that the number of vegans in Great Britain quadrupled between 2014 and 2018 and reached 600,000.
Key Segments
The Global Drinkable Yogurt Market has been majorly
segmented into flavored and non-flavored. The growing consumer demand for more
sensory intense has resulted in significant market for flavored yogurt drinks.
Strawberry, vanilla, and coconut are among the list of flavor segments gaining
maximum consumer attention. The growth of the flavored segment can also be
attributable to the development of organic flavors that enhance the nutritional
content of the drink. By source, yogurt drinks are segmented in dairy and
non-dairy. Dairy has been the traditional and largest segment of the market.
However, non-dairy drinkable yogurt is witnessing a boom with consumer interest
shifting towards vegan foods. Supermarkets and hypermarkets evolved as the key
sales channel for drinkable yogurts with a share of nearly 40% in terms of
sales value in 2018. Convenience stores and e-commerce are also holding
significant share in the sales of drinkable yogurts.
By geography, the study is segmented into North America,
South America, Europe, Asia Pacific, Middle East and Africa.
The well-established dairy industry and demand for dairy
based products made Asia Pacific the dominant market for drinkable yogurt. The
interest towards probiotic products has long been the major factor for growing
adoption of drinkable yogurt in countries such as India and China.
The global drinkable yogurt market is fragmented with large
number of players. The companies are highly focusing on building brand
reputation through development of novel and quality yogurt formulations. Brands
such as Chobani, Yoplait, Pillars, and Siggi's evolved as major brands in the
global market. The companies in the market are leveraging on acquisitions,
collaborations, and new product formulations to increase their market share.
COMPETITION LANDSCAPE
The key players in the market are Müller, Danone S.A.,
General Mills Inc., Morinaga Nutritional Foods, Inc., and Grupo Lala.
Key Takeaways from the Report
Ø Organic yogurt drinks are gaining significant demand from
health savvy population. U.S. based yogurt manufacturers such as Maple Hill
Creamery, LLC. and Stonyfield Farm are producing GMO-free organic yogurt drinks
to cater the growing demand
Ø Cereals mixed with yogurt has been the protein packed
breakfast across Americas and Europe region. However, the growing need for
convenience food is shifting the consumers towards yogurt drinks
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/4532874-global-drinkable-yogurt-market-2019-2026
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