Yogurt Market Trends and Growth, Segmentation and Analysis of Top Manufacturers

The global market is projected to reach $107,209 million by 2023 from $77,679 million in 2016, growing at a CAGR of 4.6% from 2017 to 2023. The set yogurt type accounted for about one-third of the global market in 2016.

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Yogurt & its different flavors are a healthy, versatile, and convenient food with a characteristic richness and pleasant taste. It contains healthy bacteria beneficial to the gut, thus, it is a good probiotic facilitating weight management, digestion, absorption of vitamins & minerals, and more. Yogurt is available in different forms and packings in the market ranging from cups, tubs & tubes to drinkable yogurt such as kefir. It also cures or prevent diarrhea, constipation, and bloating.

The main drivers for the global yogurt market are the health benefits associated with consuming yogurt and rising alertness among people in different regions for losing weight. The additional facts that support the growth of the market are growth in the retail market and the low lactose content for lactose intolerant people willing to eat dairy products. However, the artificial additives & ingredients present in certain varieties of yogurt along with hormonal treatment of cows causing fatal diseases may limit people from consuming yogurt and restrict the market growth. The rise in demand for yogurt in the emerging nations owing to an increase in disposable income and health awareness is expected to provide numerous opportunities for expansion of the global yogurt market.

The hypermarkets/supermarkets segment is the leading distribution channel with almost half of the yogurt market share, growing with second fastest CAGR during the forecast period. This is attributed to the increase in the business of retail sales in different regions as well as the large shelf space available for maximum sales and to let customers pick their choice.

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Yogurt is consumed in many forms such as beverage, snacks, meal replacement, dessert, protein-rich sports drink, and more. In 2016, the yogurt drinks type occupied major market, in terms of revenue, with nearly one-third of the share. This trend is expected to be continued during the forecast period as well owing to the probiotic nature and omega 3 benefits offered by drinking yogurt. The set yogurt segment accounted for the second highest market share in 2016 and is expected to grow at a decent CAGR during the forecast period. Asia-Pacific and Europe accounted for more than 70% of the global yogurt market in 2016 owing to the huge consumption of yogurt products in the region.

Questions answered in Yogurt Market research study:

-What is the market growth rate of Yogurt Market from 2017-2023?
-What will be the global market size of the market from 2017 to 2023?
-Who are the leading global manufacturing companies in the Yogurt Market?
-What are the major current trends and predicted trends?
-What are the challenges faced in the Yogurt Market?
-Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?

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In 2016, Asia-Pacific and North America collectively accounted for more than 70% of the yogurt market share, registering a lucrative CAGR and is anticipated to retain their position in the global yogurt market in 2023. This is attributed to the significant growth of the food & beverage industries in China, India, & other developing economies as well as the rising popularity of yogurt drinks in both regions.

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