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Yogurt Powder Market to Reach USD 411 million in 2026 - GMI Research
Yogurt Powder Market - GMI Research
The growing trend of healthy diet patterns is encouraging consumers to opt for yogurt powder to maintain a balanced nutrient intake in the body. The yogurt powder is widely used in the food and beverage sector for different applications, which will fuel the demand of the market. Moreover, the adoption of modern lifestyle and the high disposable income of middle-class families will further drive the demand for yogurt powder over the coming years.
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Based on Product type, the Skimmed Yogurt Powder Market segment is anticipated to lead the market during the forecast period owing to the significant rise in the demand for low-fat content products across all over the world. The growing incidences of diseases such as diabetes and other diseases is encouraging the consumers towards fat-free products to avoid health problems.
Based on the application, the Food & Beverage segment is expected to grow at a higher CAGR during the forecast period due to the increasing application of yogurt powder in various food and beverages products including dry mixes, energy drinks, snacks, dairy-based, and salad dressings. The Cosmetics and personal care segment are anticipated to lead the market during the forecast period owing to the drastic shift in the consumer's preference towards natural ingredients-based products.
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Based on the method, the Spray drying method is expected to grow at a higher CAGR during the forecast period due to the high nutritional content in the yogurt powder and its longer shelf life as compared to other processes in the market.
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Based on the region, Europe is anticipated to lead the market during the forecast period owing to the high consumer acceptability driven by its health benefits, distinctive taste, and texture. North America is also the key market for yogurt powder and is expected to witness relatively slower growth than Europe. Asia-Pacific is projected to grow at the fastest CAGR% during 2019-2026 due to rising consumer awareness about the yogurt powder coupled with the shift in the consumer's preference towards nature-based products. In addition to this, the easy availability of raw materials and the low cost of setting up the production units are the key factors contributing to the yogurt powder market in the region.
The Global Yogurt Powder market has been segmented based on the product type, method, application, and key geographies. Based on the product type, the Global Yogurt Powder market has been segmented into skimmed yogurt powder market, semi-skimmed yogurt powder, and whole yogurt powder. Based on application, the market has been segmented into Food & Beverages, Bakery & Confectionery, Cosmetics & Personal Care, and Others. Based on the method, the market has been segmented into Spray Drying, Freeze Drying, Drum Drying, and Microwave Vacuum Drying.
Various notable players operating in the market include Glanbia, Kerry, Westland Co-operative Dairy Company Limited, General Mills, Fonterra Co-operative Group Limited, Almil AG, Prolactal GmbH, Bempresa, BioGrowing Co. Ltd., Dr. Otto Suwelack Nachf. GmbH & Co. KG, among others.
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About GMI Research:
GMI Research leverages its industry expertise and experience to identify the industry trends, big opportunities and potential growth areas across industries. Our Syndicated reports provide actionable insights and covers industry trends, market drivers & restraints, macroeconomic factors, market estimates & forecasts, competitive landscape etc. which helps our clients to strengthen its market position by deploying specific strategies and actions that will lead to higher growth.
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