Yogurt Market Potential and Niche Segments, Geographical regions and Trends 2023
Yogurt drinks segment is projected to witness the highest CAGR of 5.7% in revenue terms during the forecast period.
Asia-Pacific is expected to be the dominant shareholder in 2023, due to high growth rate of population and yogurt products demand.
Supermarket/hypermarket segment occupied the largest market with almost half of the value share in 2016, and is expected to grow at the second highest CAGR of 4.9% during the forecast period.
The regular subtype of the yogurt drinks segment accounted for higher market share and is anticipated to grow at a faster rate than flavored yogurt drink during the forecast period.
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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 rising popularity of yogurt drinks in both the regions.
Major companies profiled in the report include Danone, Nestl, Parmalat S.p.A., Yakult, Chobani LLC, Yoplait, Arla Foods, Mller, Britannia Industries Limited, and FrieslandCampina.
Yogurt Market Report, published by Allied Market Research, forecasts that the global market is projected to reach at $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.
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 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.
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Flavored Yogurt Market: https://www.alliedmarketresearch.com/flavored-yogurt-market
Drinking Yogurt Market: https://www.alliedmarketresearch.com/drinking-yogurt-market
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