Yogurt Drink Market: Conventional Products Segment Led And Accounted For The Largest Share
Yogurt Drink Industry Overview
The global yogurt drink market size was valued at USD 49.30 billion in 2021 and is expected to exhibit a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030. The growth of the market can be attributed to the rising consumer awareness regarding lifestyle disorders, and the resultant shift towards healthy and probiotics-rich food products. The product is rich in nutrients that help boost health and reduce the risk of diseases such as obesity. According to an article published in Multidisciplinary Digital Publishing Institute (MDPI), in February 2022, 70% of consumers prefer drinkable yogurt owing to its nutritious properties. The COVID-19 pandemic resulted in positive as well as negative impacts on the industry.
The onset of the pandemic resulted in grocery stockpiling, most notably in categories, such as dairy products and snacks, which initially caused shortages in market supply. Furthermore, stay-at-home orders mandated by the pandemic have accelerated yogurt’s return to relevance, as consumers prefer familiar, affordable, healthy products. According to an article published by Dairyreporter.com, in February 2021, the sale of yogurt increased by 4.1% during the lockdown phase. The increasing focus on healthy food habits due to the virus spread initiated an upward trend for these products. Companies in North America and the Asia Pacific have been promoting yogurt as an essential drink for good health, which is further expected to fuel market growth.
Gather more insights about the market drivers, restrains and growth of the Global Yogurt Drink market
Moreover, companies are collaborating with dairy farms to ensure an efficient supply of raw materials for the production of yogurt drinks. For instance, in January 2021, Oikos Pro, a sub-brand of Danone North America launched high-protein, functional yogurt cups, and beverages that serve a new consumption occasion and the high-protein trend. The initiative was taken to expand the company line into health drinks, which is expected to have a positive impact on the industry in the forecast period. The rising demand for probiotic foods and healthier snacking food products among health-conscious consumers including both adults and children will further bolster the market growth. Many key brands have been launching products in this segment as consumers are shifting toward a healthier lifestyle.
For instance, in August 2021, Lactalis India, part of France’s Lactalis Group, launched Lactel Turbo Yogurt Drink in Chennai. The ‘on-the-go’ drink will be available in mango and strawberry flavors and is thicker in texture due to the presence of protein and fruits. Key players have been ramping up production to strengthen their market position and meet the increasing demand. For instance, in March 2021, Horizon Organic Growing Years expanded its line of milk-based products that focus on overall health and wellbeing. The new products were developed in partnership with pediatricians and are fortified with DHA, choline, & other nutrients and include new low-fat yogurt pouches, cultured dairy smoothies, reduced-fat milk half-gallons, & single-serve whole-milk boxes.
A large number of manufacturers is involved in R&D and innovation to develop new flavors to meet the rising demand. For instance, in March 2022, International Dairy Foods Association (IDFA) held a Yogurt & Cultured Innovation Conference on how manufacturers need to work on new ideas to develop yogurt and cultured dairy products. This is expected to propel the market growth over the forecast period. Yogurt manufacturers are likely to incur high costs due to the rise in environmental concerns pertaining to the expensive packaging processes of yogurt drinks. To tackle this, yogurt manufacturers are collaborating with local dairy distributors to enter the market in developing regions.
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Yogurt Drink Market Segmentation
Grand View Research has segmented the global yogurt drink market based on product, packaging, distribution channel, and region:
Yogurt Drink Product Outlook (Revenue, USD Million, 2017 - 2030)
- Vegan
- Conventional
Yogurt Drink Packaging Outlook (Revenue, USD Million, 2017 - 2030)
- Bottles
- Tetra Packs
Yogurt Drink Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- Hypermarkets & Supermarkets
- Convenience Stores
- Online
- Others
Yogurt Drink Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- June 2021: IFF launched YO-MIX ViV, a solution for ambient yogurt and other fermented drinks, with a focus on China.
- February 2019: Brainiac launched a line childrens’ yogurts product line. The initiative was taken to further expand the company’s product portfolio and make products available to a wider audience.
Key Companies profiled:
Some of the key players operating in the global yogurt drink market include:
- Danone
- Nestlé
- Yakult Honsha Co., Ltd.
- General Mills Inc.
- Meiji Holdings Co., Ltd.
- Chobani, LLC
- Fonterra Co-operative Group Ltd.
- Arla Foods Amba
- Lactalis Group
- Benecol Ltd.
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