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Flavored Yogurt Market Report 2024 - Flavored Yogurt Market Growth, Opportunities, And Segments
Flavored Yogurt Market
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According to The Business Research Company's, The flavored yogurt market size has grown strongly in recent years. It will grow from $56.43 billion in 2023 to $60.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to health and nutrition trends, dairy-free alternatives, clean label movement, snack culture emergence.
The flavored yogurt market size is expected to see strong growth in the next few years. It will grow to $82.19 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to innovative consumption formats, personalization and customization, transparency in health claims, exploration of dairy sources, eco-friendly packaging. Major trends in the forecast period include functional ingredients integration, variety in flavors, convenience and portability, plant-based alternatives.
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Market Drivers and Trends:
The rise in disposable income is expected to propel the growth of the flavored yogurt market going forward. Disposable income refers to the total amount of money available to an individual or household for spending and saving after deducting income taxes. Flavored yogurt enjoys a significant place in the consumer market, and its consumption is often influenced by disposable income levels. As individuals experience an increase in disposable income-the amount available after deducting income taxes-they are more inclined to explore premium and value-added products, including a variety of flavored yogurt options. The versatility of flavored yogurt, offering diverse and enjoyable taste experiences along with perceived health benefits, makes it an appealing choice for consumers with higher disposable incomes. For instance, in 2023, according to an article published by the Office of National Statistics, UK-based executive office of the Statistics Authority published an article that said, median household disposable income increased by an average 0.7% per year between the year 2020 and 2022. Therefore, a rise in disposable income is driving the growth of the flavored yogurt market.
Product innovations have emerged as a key trend gaining popularity in the flavored yogurt market. Major companies operating in the market are focused on innovating new products such as plant-based yogurt to offer sustainable product options while providing the same health benefits to consumers. For instance, in March 2023, So Delicious Dairy Free, a US-based producer of dairy-based food products launched its innovative new 0g Added Sugar Coconutmilk Yogurt Alternative. Being one of the first yogurts substitutes to get its sweetness from fruit, the delectable 0g Added Sugar Coconutmilk Yogurt Alternative is redefining the yogurt section. The 0g Added Sugar Coconutmilk Yogurt Alternative is non-GMO Project verified and certified vegan. It is free of dairy, added sugar, and other artificial sweeteners.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Danone SA, Groupe Lactalis SA, Chobani LLC, Arla Foods AMBA, Emmi Nederland BV, Ultima Foods Inc., Nestlé SA, Sodiaal Union, Theo Müller Group, Parmalat SpA, Rainy Lanes Dairy Foods Limited, Chi Limited, Cargill Incorporated, Mother Dairy Fruit & Vegetable Private Limited, Britannia Nutrition Foundation Co., General Mills Inc., Stonyfield Farm Inc., Valio Ltd., Brown Cow Farm, Cascade Fresh Inc., Ellenos Real Greek Yogurt Co., FAGE International S.A., Forager Project LLC, Horizon Organic Inc., Icelandic Provisions Inc., Liberté Inc., Lifeway Foods Inc., Mountain High Inc., Nancy's Yogurt, Noosa Yoghurt
Flavored Yogurt Market 2024 Key Insights:
• The flavored yogurt market size is expected to see strong growth in the next few years. It will grow to $82.19 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• The Surge In Health Consciousness Driving The Flavored Yogurt Market
• Pioneering Product Offerings And Plant-Based Delights In The Flavored Yogurt Market
• Europe was the largest region in the flavored yogurt market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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