Skim Yogurt Market will Grow at 7.6% CAGR to Surpass $9.9 billion during the Forecast Period 2021-2031

According to a new report published by Allied Market Research, titled, "Skim Yogurt Market," The skim yogurt market size was valued at $4.6 billion in 2021, and is estimated to reach $9.9 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031.

Globally, changing consumer preferences towards the consumption of organic, tasty, and healthy dairy food are expected to drive the market demand. Increase in consciousness regarding healthy lifestyle adoption and the preference for staying fit has raised consumer indulgence in skim yogurt products. Moreover, the increasing prevalence of chronic lifestyles diseases worldwide has further boosted the growth of the market.

Furthermore, skim yogurt has nearly every nutrient needed by the human body, and is considered as an effective food for achieving flat abs and weight loss. It is rich in calcium, vitamins, and trace minerals such as phosphorus, magnesium, & potassium. Moreover, consumption of skim yogurt helps in enhancing immune system and protects our body from a variety of infections. Skim yogurt effectively fights against respiratory issues like common cold, flu & even cancer and gastrointestinal infections. Hence, diversified health benefits associated with skim yogurt further boost the market growth.

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However, the growth in the Skim Yogurt Industry brings about a significant need for governmental intervention and it also strengthen regulations pertaining to the distribution, production, safety testing and claims related to the effectiveness and efficiency of skim yogurt. In last couple of years the government across the globe has become more severe with the safety standards and has observed a rise in the number of labelling violation related to skim yogurt products. Moreover, strict regulatory compliance across all the countries related to skim yogurt products has further affected the global Skim Yogurt Market Share.

The market in the Asia-Pacific region offers lucrative Skim Yogurt Market Opportunities for the operating players owing to the presence of countries such as India, China, Australia, New Zealand, and others. Increase in adoption of western lifestyle, surge in population, and rise in disposable income of consumers majorly drive the growth of the skim yogurt market. Moreover, increase in awareness regarding flavored skim yogurt products and its associated benefits have further augmented the Skim Yogurt Market Growth.

Developing region offers potential growth opportunities to the market players for launching innovative skim yogurt products. This is further enhancing the adoption and skim yogurt market trends espicially in North America and Europe region. Moreover, countries in Latin America, such as Brazil, are anticipated to unfold attractive business opportunities owing to increase in awareness regarding skim yogurt products and its benefits.

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KEY FINDINGS OF THE STUDY

By type, the Flavored Yogurt segment accounted for highest market share in 2021, growing at a CAGR of 6.8%, and the plain yogurt segment is expected to be the second fastest growing segment with a CAGR of 9.3% during the Skim Yogurt Market Forecast period.
On the basis of nature, The conventional segment was the highest revenue contributor to the market, with $3,890.5 million in 2021, and is estimated to reach $8,012.7 million by 2031, during the skim yogurt market analysis
On the basis of distribution channel, the online sales channel and others segments are expected to witness considerable CAGRs of 10.4% and 9.5% respectively, during the forecast period.
Europe is estimated to reach $2,473.3 million by 2031, at a significant CAGR of 6.0%. North America and Europe collectively accounted for around 68.0% share in 2021

Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report The key players profiled in the report Byrne Dairy, Danone S.A., General Mills, Inc., GCMMF LTD, Juhayna, Muller Group, National Dairy Development Board, Nestlé, Rainy Lanes Dairy Foods Ltd., and Tillamook.

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