Yogurt belongs to dairy food industry. It is derived from the bacterial fermentation of the milk. Primarily yogurt is consumed directly as a dessert or it is used in various recipes. Increasing awareness about the benefits of yogurt as a healthy alternative to include in daily diet is driving the growth of yogurt market across the globe.
Yoghurt Market Segmentation
Yogurt market is segmented on the basis of product type which includes regular yogurt and fat free yogurt. Among both of these segment regular yogurt is expected to occupy the largest position on the pie in terms of revenue contribution. However rising awareness among the consumer regarding the consumption of healthy and fat free products is expected to support the demand of fat free yogurt product segment in the near future.
Yogurt market is further segmented on the basis of form which includes set yogurt, frozen yogurt, Greek yogurt and yogurt drinks. Among all these set yogurt occupied the major position on the pie in terms of market share. High usage of set yogurt in various cooking recipe and consumption as a dessert is contributing towards the growth of set yogurt product segment. However frozen yogurt and yogurt drinks is expected to show a healthy growth during the forecast period. Frozen yogurt is further sub segmented as regular and flavored. Among both of these sub segment flavored yogurt is expected to show a fastest growth during the forecast period. Also, yogurt drinks is sub segmented as regular and flavored yogurt. Increasing availability of various fruit flavored yogurt with health benefits is expected to support the demand of flavored frozen yogurt and flavored yogurt drinks in the near future.
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Yogurt market is also segmented on the basis of distribution channel which comprises, supermarket/ hypermarket, grocery stores, convenience stores, online and others. Among all these segments supermarket/hypermarket is expected to occupy the major share on the pie in terms of revenue contribution. Increased penetration of retail industry especially in developing region is expected to support the growth. Moreover, purchasing of yoghurt through online is expected to show a substantial growth during the forecast period. Increasing internet penetration and urge of consumers towards convenience purchasing of product is predicted to be the driving factor for online purchasing in yogurt market in the near future.
Geographically, North America is expected to be the major contributor in terms of value followed by Europe in yogurt market. However, these region is predicted to be a mature market for set yogurt, and is expected to show a stable growth in the near future. Introduction of new variant in flavors coupled with offering low fat products may fuel the growth of yogurt market in these region. In developing countries of Asia Pacific region China is expected to dominate the market in terms of yogurt consumption followed by India. Moreover Japan is expected to show a substantial growth during the forecast period. Increasing consumption of flavored yoghurt especially in countries such as China and Japan is predicted to support the growth yoghurt market across Asia Pacific region during forecast period.
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Yogurt Market Drivers
Rising disposable income coupled with shifting consumer eating habits is expected to drive the demand of yogurt market in the near future. Moreover, increasing availability of flavored yoghurt especially in developing region is predicted to be major factor supporting the growth of ice cream and frozen dessert market during the forecast period. In addition, rising awareness among the people regarding the benefits of yogurt such as it has good bacteria or probiotics that boost the immune system, provide calcium, and help combat constipation and diarrhea and others is also expected to drive the growth of yogurt market in the near future.
Yogurt Market Key Players
Some of the major players operating in yogurt market includes Danone Groupe SA, Ultima Foods Inc, Chobani Inc., Sodiaal S.A, NESTLÉ SA, General Mills, and Kraft Foods Group, Inc , Yakult Honsha Co., Ltd among others.