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The flavored yogurt market size is forecast to increase by USD 9,896.12 million, at a CAGR of 4.78% between 2023 and 2028. The growth of the market depends on several factors, including increased online penetration of products, frequent product launches, and consumers purchasing health-benefiting products.
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The increased online penetration of products is notably driving the market growth, although factors such as increasing lactose intolerance among consumers may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased online penetration of products is notably driving market growth. There has been a shift toward online websites by consumers to buy groceries and other eatables such as flavored yogurt. As online retailers are convenient and provide services like same-day delivery as well as a variety of offers and discounts, consumers prefer to place their orders through online retailers. Physical retail establishments like grocery stores do not offer these services. Manufacturers through their own websites, e-commerce websites, and other third-party websites, are able to sell their goods to consumers.
E-commerce plays a major role, which making national and international brands accessible to consumers easily. The significant increase in the number of online retailers around the world is caused by the spread of smartphones. Various e-commerce portals that sell flavored yogurt include brand-owned online formats and pure-play e-retailers. Sales of flavored yogurt through this channel are anticipated to rise significantly as a result of the expanding trend of online retailing, particularly in developing nations. Thus, the increased penetration of flavored yogurt through online channels will boost the growth of the global market during the forecast period.
Plant-based product gaining traction is an emerging trend in the market. Customers are searching for alternatives to dairy-based products as they have become more health conscious. Yogurt made from plants often has fewer calories, saturated fat, and cholesterol and can be a good source of protein and fiber. Moreover, yogurt made from plant-based ingredients like soy, almonds, or coconut has a smaller environmental impact. Yogurt made from dairy cannot be consumed by those who have lactose intolerance, or dairy allergies, or who follow a vegan or vegetarian diet. Hence, yogurt made from plants is a good substitute for these people.
Compared to conventional dairy-based yogurt, plant-based yogurt gives consumers more flavor and texture options. The flavor and texture of vegan yogurt are also preferred by some consumers over dairy-based yogurt. Thus, a mix of ethical, environmental, health, and taste considerations influences the demand for plant-based yogurt. The demand for these goods is likely to increase as more consumers look for plant-based alternatives, which will favorably affect the expansion of the global market during the forecast period.
Increasing lactose intolerance among consumers is a major challenge impeding market growth. The condition known as lactose intolerance occurs when the body is unable to digest the lactose found in milk and other dairy products. Bloating, gas, diarrhea, and abdominal pain are examples of lactose intolerance symptoms. Owing to the campaigns and initiatives launched by businesses to raise awareness of the problem of lactose intolerance and inform consumers of the terrible consequences, the prevalence of lactose intolerance conditions has increased among people in various parts of the world.
The sale of dairy products, including flavored yogurt, may decline due to rising awareness of lactose intolerance and dairy allergies as well as shifting dietary preferences and health concerns. In addition to serving the needs of those who are lactose intolerant, lactose-free products are viewed as a healthier option to conventional dairy products as they typically contain less fat and calories. The trend toward lactose-free products is anticipated to persist, which could have a detrimental effect on the expansion of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Muller UK and Ireland Group LLP - The company owns and operates a chain store of bakery-cafe fast casual restaurants. The key offerings of the company are fresh baked products under the brand, Au Bon Pain.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the spoonable segment will be significant during the forecast period. In 2022, the spoonable yogurt segment had a high market share in the global market. This type of yogurt has grown in popularity recently because of its health benefits and convenience. Since spoonable yogurt can be consumed in a more traditional way and is a flexible ingredient in cooking and baking, many consumers prefer it to other types of yogurt, such as drinkable or squeezable yogurt.
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The spoonable segment was valued at USD 22,829.50 million in 2017 and continued to grow until 2021. The high demand for spoonable yogurt is largely due to its probiotic content. Probiotics are helpful bacteria that support the gut's delicate microbiome by helping to keep it in balance. The probiotics in spoonable yogurt are frequently marketed as being good for the immune system and for improving digestive health. Furthermore, spoonable yogurt is frequently seen as a better alternative to unhealthy snacks like candy or chips. It is a well-liked option for people trying to maintain a healthy diet because it is low in calories and high in protein. Additionally, spoonable yogurt can be incorporated into a wide range of dishes, including smoothies, dips, and baked goods. Thus, the high demand for spoonable yogurt is likely to continue to grow, which in turn will boost the growth of the global market during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC dominated the global market in 2022. The main market drivers are an increase in consumer preference for a healthy lifestyle, rising consumer awareness of yogurt's nutritional benefits, increasing demand for fortified food and beverages, an increase in organized retail outlets offering flavored yogurt in APAC, and the introduction of novel products in the region. The demand for flavored yogurt will increase due to a shift in APAC consumers' preferences for healthy products. In order to improve their products and draw in a sizable customer base, regional companies are forming strategic alliances and partnerships. Hence, all such factors will positively impact the growth of the regional market during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest market trends and analysis and growth opportunities from 2017 to 2027.
The market is experiencing significant growth, fueled by a health-conscious consumer base with increasing purchasing power. Within the food and beverage industry, there is a rising demand for innovative and exotic flavors, particularly in the realm of healthy food and beverages. Plant-based yogurts have emerged as a popular choice, aligning with consumers' healthy eating habits and serving as a preferred healthy dessert item.
The market is witnessing the introduction of new and innovative products, expanding the plant-based range to include dairy-free options. Fruit yogurts, flavored yogurts, and plain yogurt are among the diverse offerings, each boasting functional properties. Plant-based ingredients like oats and coconuts are not only adding unique flavors but also providing gut health benefits.
The trend extends to ready-to-eat foods, with companies like Jooma, a Chinese plant-based yogurt brand, making waves in the market. Jooma's coconut yogurt line and almond yogurt recipe exemplify the industry's commitment to offering diverse and appealing options in response to the growing demand for healthier alternatives in the flavored yogurt segment.
Flavored Yogurt Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.78% |
Market growth 2023-2027 |
USD 9,896.12 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.21 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, Australia, Ireland, and France |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arla Foods amba, Cabot Creamery, Chobani Global Holdings LLC, Chr Hansen Holding AS, Danone SA, Emmi Group, Fage International SA, Fonterra Cooperative Group Ltd., General Mills Inc., Gujarat Cooperative Milk Marketing Federation Ltd., LACTALIS Group, Lausanne Dairies, Menchies Group Inc., Mother Dairy Fruit and Vegetable Pvt. Ltd., Muller UK and Ireland Group LLP, Nestle SA, Noosa yoghurt, Sameer Agriculture and Livestock Ltd., Stonyfield Farm Inc., and The Coca Cola Co. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Form Factor
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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