Yogurt Market Globally Expected to Drive Growth through 2026
Low fat and fat free yogurt contains a low amount of fat as compared to traditional yogurt, which is manufactured from whole milk. The low fat and fat free and regular/plain yogurt segments are expected to witness similar Y-o-Y growth during the forecast period. However, the low fat and fat free yogurt segment is expected to witness significant growth post 2020 owing to rising health consciousness among consumers supporting its demand. The low fat and fat free yogurt segment is expected to gain more than 25 BPS between 2016 and 2026, due to rising awareness among people regarding the health benefits of low fat and fat free yogurt. The segment is expected to reach the highest CAGR of 10.2% during the projected period. In 2017, the low fat and fat free yogurt segment in the global yogurt market is expected to reach a market valuation in excess of US$ 14 Bn and is anticipated to be valued more than US$ 36 Bn by the end of 2026.
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Awareness of healthy lifestyle is likely to drive the growth of the low fat and fat free yogurt segment
Studies suggest that low fat and fat free yogurt boosts the immune system, improves metabolism, provides vital nutrients for the body such as protein, vitamin, calcium, etc., and helps in smooth functioning of the digestive system. Various research publications and strategically sponsored advertisements by prominent market players and institutions have immensely influenced the public to include low fat and fat free yogurt in their daily diet, which is driving the growth of the segment. People all over the world are becoming more heath conscious and choosing a healthy diet to maintain a healthy lifestyle. Low fat and fat free yogurt, being a source of nutrients required for maintaining good health and several other benefits associated with it, is becoming the preferred food of many, irrespective of age, gender and region. This particular factor is propelling the growth of the low fat and fat free yogurt segment.
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Over the years, the consumption of yogurt has gone from strength to strength at different meal occasions — from breakfast to lunch and supper to dinner, becoming the favourite among consumers of all age groups. The availability of yogurt in different product forms (low fat and fat free, plain, flavoured, with toppings, etc.) has helped the product to become a universal dairy product. As yogurt is easy to swallow, it is considered as a key protein source for young children and elderly persons. The emergence of low fat and fat free yogurt as a food product, consumption of which is not limited to particular meal time or consumers, is expected to drive its demand over the coming years.
Low fat and fat free yogurt segment in the North America yogurt market is inclined towards high growth-low value during the forecast period
The low fat and fat free yogurt segment in the North America yogurt market is projected to gain more than 120 BPS over the forecast period. The low fat and fat free segment is inclined towards high growth-low value and it is expected to follow the same trend over the forecast period. Easy availability of ingredients and innovation and new product development are the key factors driving the growth of the yogurt market in North America. In Western Europe, the low fat and fat free yogurt segment is currently inclined towards moderate growth-low value; however, it is expected to incline towards high growth-high value over the forecast period.
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