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Report Overview: Flavored Yogurt MarketThe global flavored yogurt market size was valued at USD 23.7 billion in 2019, expanding at a CAGR of 5.8% over the forecast period 2021-2027. Changing dietary habits and increasing health awareness among consumers, rising consumer disposable income, growing popularity of ready-to-eat foods across the world are some of the prominent factors driving the growth of the market. Shift in the dietary habits of the consumers towards the consumption of the flavored yogurt as a dessert and as an important ingredient of the diet has impacted the growth of the yogurt and has made it a popular food item in past few years. The rising awareness among consumers about lifestyle-related health concerns and benefits of yogurt attributing with constitution of integral fortified vitamins, creamy, pulp-laced and sugar-free content has a positive impact on the digestive mechanism. As a result of the innovation in product offerings, the conventional spoonful of plain yogurt is increasingly substituted by the flavored or fruit yogurts. With the broad consumer acceptance of packaged flavored yogurt products due to the presence of healthy ingredients like proteins, sugar-free content, and availability of these products in convenience stores, the market is expected to grow, and encourage international players to expand their consumer base. The demand for naturally enriched fresh fruit-flavored yogurt is very high, especially for berry flavors such as strawberry, blueberry, and raspberry. Besides these flavors like mango, chocolate, and coffee are also drawing huge attention among consumers. In Western Europe, countries like France, Germany, U.K. are facing high demand for Greek yogurt. The product is termed as a good source of protein and calcium and is now available in varieties of flavors. Vanilla is a globally well-known flavor and is expected to grow significantly in the forecast period. In addition, the restaurants, dairy shops are gaining more consumer attention to flavored yogurt by presenting it as an alternative for mayonnaise and ice-creams. Online discounts available on the flavored yogurt products by the food e-retailers can propel the demand for the product in the near future. Top players in the market for flavored yogurts such as Danone, Nestle, and General Mills are focusing on expanding their distribution channels as the demand across developing regions. This, in turn, is spurring the growth of the market. For instance, Danone has invested in Indian based brand Epigamia Yogurt; this partnership is representing tough competition to domestic players like Amul and Mother Dairy. With top players constituting major market share, it is difficult for the small dairy firms to compete with them.
Product Insights: Flavored Yogurt MarketBy flavor, the flavored yogurt market is divided into strawberry, blueberry, vanilla, peach, and others. Strawberry accounted for the largest market share of 33.0% in the year 2019. Strawberry is one of the major flavors in this segment is driving the market. Berry flavored yogurts are becoming most popular among consumers due to the presence of the naturally potent ingredients, which is anticipating the market for strawberry and blueberry flavors in the forecast period. Innovation in product offerings such as plant-based yogurt and Greek yogurt are gaining more traction from consumers, thus driving the demand for the segment. Strawberry flavor is the fastest-growing segment in the market for flavored yogurt and is expected to witness a significant growth of more than 7.6% CAGR in the forecast period. Increasing focus on health, dietary habits, and easily available at convenience stores are among the prominent factors driving the segment.
Distribution Channel Insights: Flavored Yogurt MarketOn the basis of the distribution channel, the market is further divided into supermarkets, convenience stores, online, and others. The market is heavily lead by the supermarket segment accounting for more than 45.0% of the market share in 2019. All the major brands of flavored yogurts are available in supermarket, thus, they generate maximum revenue based on the distribution channel. Furthermore, easy access, availability of the product, and variety are among the prominent factors driving the growth of the segment. In the U.S., supermarket chains like Walmart and The Kroger Co., have large number of supermarket stores in the region holding bulk of the dairy products. Apart from supermarkets, convenience stores are also expected to have significant growth in the coming future. Online sellers with improved storage technologies and quality will also bolster the growth of the market. The online segment is projected to surge in developed regions including North America and Europe and is witnessing a significant CAGR of more than 8.0% and 7.3% respectively during the forecast period. Faster delivery options and discounts are among the prominent factor driving the growth of the segment.
Regional Insights: Flavored Yogurt MarketEurope was estimated to be the largest market for flavored yogurt in the year 2019 owing to the growing popularity of the berry yogurts and flavored Greek yogurt in the market. In 2019, France was the largest market for flavored yogurt with over 22.0% of market share in Europe. The changing lifestyle, increasing disposable income, and growing popularity of flavored yogurt are the factors driving the market. In addition, product innovation and growing popularity of ready-to-eat foods are the prominent factors driving the growth of the segment. Asia Pacific is anticipated to witness a CAGR of more than 5.6% during the forecast period. The growing popularity of flavored yogurt as an alternative option for ice-cream and desserts by the grocery shops and restaurants is trending high in countries like India and China. Flavored Yogurt Market Share Insights
Flavor Outlook (Revenue, USD Million, 2016 - 2027)
Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
- Convenience Stores
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2. IFF Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market | read more...