Yogurt Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The global yogurt market is projected to register a CAGR of 4.5% during the forecast period (2020 - 2025)

• The demand for yogurt is fueled by the availability of numerous flavors, and growing consumer indulgence for exotic flavors, coupled with significant investments by manufactures. This prompts the manufacturers to develop products with innovative flavors to cater to the growing demand.
• Drinking yogurt is able to ideally meet consumer's three key product demands: health, mobility, and convenience. As a practical alternative to yogurt cups and spoons, yogurt drinks come in recloseable carton packs or are provided with a convenient drinking straw, making it an ideal snack for people on-the-go, a replacement breakfast, or the healthy in-between meal snack.
• Additionally, with the growing trend of veganism globally, the demand for non-dairy-based yogurt products is anticipated to grow at a faster rate. Owing to the large retail space and convenient conventional services, supermarkets/ hypermarkets remain as one of the most preferred points of sale for yogurt.​

IMPACT OF COVID-19 ON THE MARKET

• The outbreak of COVID-19 had a short-term positive impact on the retail yogurt market as the market was fueled by the grocery stockpiling and forceful lockdown where consumers had to stay at their homes and manage their meals themselves. Moroever, functional health benefits of yogurt, being a probiotic, also helped the market to witness the higher demand as consumers seeked to follow better diets and focus on their gut health during the pandemic period.
• Market also witnessed a rise in the online yogurt sales as numerous e-commerce and online grocery delivery platforms had widened their operations during the lockdown period. Non-dairy/vegan yogurt products also achieved a significant demand across the pandemic period.

Scope of the Report

The global yogurt market is segmented by type, including spoonable yogurt and drinkable yogurt. Based on the category, the market is divided into dairy-based and non-dairy based yogurt. The market is also segmented by flavor, which includes plain yogurt and flavored yogurt. By distribution channel, the global yogurt market can be segmented into foodservice channels, hypermarkets/supermarkets, convenience stores, online retail stores, and other distribution channels. The report further analyses the global scenario of the market, which includes detailed analysis of North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

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Key Market Trends

Growing Demand for Probiotic Food and Beverages

The high prevalence of digestive disorders drives the demand, for probiotic foods, across various consumer groups, globally. Yogurt, in both spoonable and drinkable form and in different flavors, is the most preferred among the probiotic food. The progressive shift of consumers in the United States toward digestive health-oriented products drives the market for probiotic food products. This has led yogurt to hold a major share in the sales value of the probiotics market in the country. According to the International Probiotics Association (IPA), China accounts for nearly half of the sales revenue in the Asia-Pacific probiotic food market. Almost 90% of dairy-based probiotic food and beverages were consumed in China, and dairy-based yogurt held a prominent share driving the market.

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