Flavoured Yogurt Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.73 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Flavoured Yogurt Market Analysis
The global Flavoured Yogurt market is projected to register a CAGR of 6.73% during the forecast period, 2022-2027.
During the COVID-19 outbreak, transportation was disrupted and flavored yogurt was short-supplied. As people became more health-conscious following the COVID-19 pandemic, their consumption of flavored yogurt increased. It is therefore anticipated that the market will grow at a healthy rate in the next few years. Furthermore, North American and European consumers have higher purchasing power, contributing to the growth of market's value. Over the last few years, yogurt has become one of the most popular dairy fermented foods in the region. Additionally, the food and beverage industry is experiencing a dramatic increase in the demand for innovative and exotic flavors around the world, as well as in the yogurt industry as a whole.
Moreover, there is a growing demand for healthy food and beverages among consumers. Consequently, plant-based yogurts have become a very popular food item in the last few years and has become a very popular diet in people's diets as a result of the shift in healthy eating habits as well as the increased popularity of yogurt as a healthy dessert item. Hence the market players are launching new innovative products to gain the market share. For instance: In January 2021, The Collective announced the launch of their plant-based range of dairy-free, live Greek-style yogurt alternatives that are available in four different flavors in the United Kingdom. Moreover, Fruit yogurts and flavored yogurts are increasingly replacing plain yogurt as it contains the same functional properties as plain yogurts as a result of innovations in product offerings, which is further boosting the demand for flavored yogurt.
Flavoured Yogurt Market Trends
This section covers the major market trends shaping the Flavored Yogurt Market according to our research experts:
Rising demand for Plant-based yogurt
Globally, the consumption of plant-based flavored yogurt with lower lactose content is rising owing to the proliferation of the lactose intolerance population around the world. According to the United States National Library of Medicine, Around 65% of the world's population is lactose intolerant, and that number is consciously rising. In wake of growing lactose intolerance around the globe, a variety of new products are being introduced by brands to address consumers' needs. There is increasing interest in dairy-free flavored yogurts made with plant-based products like soy, oats, coconuts, rice, and others.
Moreover, the demand for plant-based yogurt is rising continuously globally. According to the 2021 United States retail sales data for the plant-based industry by the Plant Based Food Association found that, over the past few years, consumers have purchased more plant-based foods than ever before. According to a report by Good Food Institute, the sales of plant-based foods have grown by 54% since 2018. As plant-based food sales grew this past year, consumers showed a clear commitment to purchasing food that tastes good and aligns with their values, as well as being better for their health, the planet, supply chain workers, and animals. Some brands are positioning their products beyond the plant-based category with additional functional claims such as a high protein content or probiotic properties and the introduction of new flavors. Many countries have successfully adopted this trend, including the United States, United Kingdom, India, China, Brazil, Poland and others.
Asia-Pacific is the Fastest Growing Region
The Flavoured Yogurt market in Asia-Pacific is experiencing rapid expansion. In the coming years, the fast-paced developing economies in the region are expected to boost the industry's growth. Moreover, there is no doubt that the continued expansion of the food and beverage industry in major countries in the Asia Pacific like India and China will ensure the continuous market growth of flavored Yogurts in the future. Moreover, this market is driven by changing lifestyles, increasing disposable incomes, and the growing popularity of flavored yogurts owing to their gut health benefits. Additionally, the increasing popularity of ready-to-eat foods and the innovation of new products are some of the factors contributing to the success of flavored yogurt in the region. For instance, in May 2022, Jooma, a Chinese plant-based yogurt brand, recently launched a coconut yogurt line and revamped its almond yogurt recipe, in addition to color-coding its various products to appeal to a wider market.
Flavoured Yogurt Industry Overview
Considering the presence of big players and large investment amounts, this market imposes a moderate to the high entry barrier. A large amount of research and development is invested by these market players to provide the best eatable products to the consumers and to gain an edge over their competitors. A number of mergers and acquisitions, as well as the expansion of big players in the market into different regional markets, are further driving the market for flavored yogurt. For Instance, in March 2021, Agropur Cooperative's Canadian yogurt business, Ultima Foods, has been acquired by Lactalis Group subsidiary Lactalis Canada in order to strengthen its long-term investment in the country and the Canadian food processing sector.
Major players in the market include General Mills, Inc., Nestle SA, Danone, Inc., Fonterra Co-operative Group Limited, and Chobani Inc., among others holding a substantial share of the market, studied and executing business strategies including product innovations, partnerships, and online and offline marketing as well as mergers and acquisitions. In recent years, there has been an increase in market players expanding their product portfolios by launching new flavors, new packaging designs, and high-quality products.
Flavoured Yogurt Market Leaders
-
Fonterra Group
-
Danone, Inc.
-
Nestle SA
-
General Mills, Inc.
-
Chobani Inc.
*Disclaimer: Major Players sorted in no particular order
Flavoured Yogurt Market News
- In March 2022, Muller Yogurt & Desserts launched its latest Australian-inspired yogurt in the United Kingdom. It is a creamy yogurt that has a 3-in-1 fruit blend in the corner, including a mixture of mango, passionfruit, and coconut.
- In 2021, Danone's Silk launched plant-based Greek yogurt. The company launched greek yogurt in four varieties: Strawberry, Blueberry, Vanilla, and Lemon.
- In September 2020, General Mills expanded its yogurt products portfolio by debuting its Ratio brand of yogurt, made with ultrafiltered nonfat milk and whey protein, the dairy-based snack contains 25 grams of protein and 3 grams of sugar per serving. The range is available in five flavors, including strawberry, vanilla, blueberry, coconut and key lime.
Flavoured Yogurt Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Form
5.1.1 Spoonable
5.1.2 Drinkable
5.2 Distribution Channel
5.2.1 Supermarket/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Online Retail Stores
5.2.4 Other distribution channels
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Nestle S.A.
6.3.2 Chobani Inc.
6.3.3 Danone, Inc.
6.3.4 General Mills, Inc
6.3.5 Yakult Honsha Co.
6.3.6 Cargill, Incorporated.
6.3.7 Britannia Nutrition Foundation
6.3.8 Arla Foods amba
6.3.9 Fonterra Co-operative Group Limited
6.3.10 Lactalis Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
Flavoured Yogurt Industry Segmentation
Yogurt is a good source of probiotics. The popularity of flavored yogurt is surging as a healthy breakfast or snack. It is a delicious dessert made from plain thick yogurt blended with fruits and flavors that have been frozen or fresh, mixed with some sweetener. The global flavored yogurt market (henceforth referred to as the market studied) is segmented by form, distribution channel, and geography. By form, the market is segmented into Spoonable and Drinkable. Based on the distribution channel, the market studied is segmented into Supermarkets/Hypermarkets, Convenience Stores, Online Retail Stores, and Other distribution channels. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, the Middle East, and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| By Form | |
| Spoonable | |
| Drinkable |
| Distribution Channel | |
| Supermarket/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Other distribution channels |
| By Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Flavoured Yogurt Market Research FAQs
What is the current Flavored Yogurt Market size?
The Flavored Yogurt Market is projected to register a CAGR of 6.73% during the forecast period (2024-2029)
Who are the key players in Flavored Yogurt Market?
Fonterra Group, Danone, Inc., Nestle SA, General Mills, Inc. and Chobani Inc. are the major companies operating in the Flavored Yogurt Market.
Which is the fastest growing region in Flavored Yogurt Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Flavored Yogurt Market?
In 2024, the Europe accounts for the largest market share in Flavored Yogurt Market.
What years does this Flavored Yogurt Market cover?
The report covers the Flavored Yogurt Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Flavored Yogurt Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Flavoured Yogurt Industry Report
Statistics for the 2024 Flavoured Yogurt market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Flavoured Yogurt analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
