The Growing Yogurt Market is Driven by Rising Health Consciousness
Yogurt is a dairy product made by bacterial fermentation of milk. It contains probiotic bacteria that provides various digestive and immune health benefits. Yogurt is a rich source of protein, vitamins, minerals and contains no cholesterol. It is a versatile food product that can be consumed as a snack, dessert or part of a meal. The use of modern manufacturing techniques has resulted in a wide variety of flavored and fortified yogurt products catering to diverse customer preferences.
The global yogurt market is estimated to be valued at US$ 139.1 billion in 2021 and is expected to exhibit a CAGR of 10.0% over the forecast period (2021-2028).
Key Takeaways
Key players operating in the Yogurt are General Mills, Inc., Nestle SA, Danone, Yakult Honsha Co., Ltd., Ultima Foods Inc., Chobani, LLC, Sodiaal, Muller UK Ireland Group LLP, Kraft Foods Group, Inc., and Rainy Lanes Dairy Foods Ltd. Key players are focusing on new product launches, mergers and acquisitions to strengthen their presence and expand their product portfolio.
Growing Yogurt Market Demand for healthy and nutritious food products rich in proteins and probiotics is driving the yogurt market. Rising health awareness among consumers and shifting preferences towards natural and organic food items is boosting the sale of yogurt.
Asia Pacific region is witnessing fastest growth in the global yogurt market owing to expanding consumer base, growing economy and increasing spending on dairy products in developing countries of the region. Manufacturers are investing heavily in countries like China and India to leverage untapped market potential.
Market Drivers
Rising consciousness about health benefits of consuming probiotic rich products is a key driver accelerating the yogurt market growth. Studies confirming the role of probiotics in promoting gut health, immunity and weight management are influencing consumers to include yogurt in their regular diet. Growing middle class population with higher disposable income is increasing the spending on premium yogurt products in developing regions.
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