The global drinkable yogurt market is anticipated to reach a valuation of US$ 94.0 billion by 2032 as opposed to US$ 50.0 billion in 2022. The market is slated to record a positive CAGR of 6.5% from 2022 to 2032. The market for drinkable yogurt held around 20% share of the global dairy industry in 2002 and is projected to reflect this continued growth over the upcoming years. The growing awareness of issues associated with a poor lifestyle and dietary habits is prompting consumers to opt for healthier, probiotic-rich foods. This factor stimulates the growth of the drinkable yogurt market during the forecast period.
Drinkable yogurt is rich in probiotics and promotes good health while lowering the risk of medical conditions like obesity. In addition to this, the prevailing health and fitness trends also positively affect the sales of drinkable yogurt as consumers are increasingly adding probiotics to their daily diet in order to start a healthy lifestyle. Since yogurt is a favored probiotic, the global growth of the drinkable yogurt market is expected to surge over the assessment period. Furthermore, the introduction of a wide range of flavors by market players augurs well for the drinkable yogurt market. An upsurge in preference for recently introduced plant-based flavors like carrot and beetroot along with already existing fruit flavors like strawberry, banana, and coconut is likely to foster market growth.
More and more consumers are putting greater effort into adopting a healthy diet and living a generally healthy lifestyle. As a result, consumers are decreasing their sugar intake and in order to cater to consumer demands, manufacturers are using stevia- a natural sweetener- in drinkable yogurts. Again, to maintain good gut health, consumers are willing to spend more on healthy eatables. These aspects are spurring the demand for drinkable yogurt in the forthcoming years.
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The easy availability of various types of drinkable yogurt, rising consumer inclination for a healthy diet, and high demand for organic ingredients are there is noted preference for clean label products among consumers are a few of the key considerations that drive the growth of the drinkable yogurt market during the forecast period.
Key Takeaways:
- Appealing and secure packaging plays a vital role in extending the shelf life and amplifying the global sales of drinkable yogurt.
- Disruptions in supply chains may hamper the growth of the drinkable yogurt market.
- The presence of various functional ingredients that help boost immunity along with improving gut health will foster growth for the market as consumers begin to spend more on healthy products.
- The US drinkable yogurt market will present significant growth due to a rise in consumer awareness regarding health as well as the easy availability of the product.
- The surge in consumer willingness to spend more on healthy products is expected to push Asia Pacific drinkable yogurt market to emerge as a positively remunerative market.
Competitive Landscape
Danone S.A, Nestlé S.A, General Mills Inc., Chobani LLC, Royal FrieslandCampina N.V., Groupe Lactalis, Pillars Yogurt, and Morinaga Nutritional Foods, Inc., among others, are some of the major players in the drinkable yogurt market profiled in the full version of the report.
Leading market players are focusing on introducing and developing new products such as yogurts with additional functional properties and flavors. These businesses also concentrate on packaging and engage in sharing information regarding processes and ingredients to maintain transparency and increase the consumer base.
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More Insights into Drinkable Yogurt Market
FMI offers the latest, unbiased, and detailed analysis of the global drinkable yogurt market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of category, type, sales channel, and region.
According to the reports, based on segmentation, the non-dairy yogurt category is expected to lead the market and contrite considerably to the global market growth. In terms of sales channels, supermarkets, and online stores will likely emerge as immensely remunerative segments during the next couple of years.
Based on region, the drinkable yogurt market in the United States of America accounted for US$ 9.6 billion in 2022 which represents about 24% of the global drinkable yogurt market. Increasing consumer awareness regarding health and immunity-boosting products, the emphasis on a healthy lifestyle by the younger generation, and the easy availability of the product drive the drinkable yogurt market in the US which, in turn, propels the market growth in North America. Besides, Asia Pacific and Europe will also demonstrate notable growth of the drinkable yogurt market during the forecast period.
Key Segment of Yogurt Market
By Category, Drinkable Yogurt Drinks Market is Segmented as:
- Dairy-based yogurt
- Non-dairy based yogurt
By Type, Drinkable Yogurt Drinks Market is Segmented as:
- Plain Yogurt
- Drinkable Yogurt
By Sales Channel, Drinkable Yogurt Market is Segmented as:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region, Drinkable Yogurt Market is Segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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