Market Trends of yogurt Industry
The increasing awareness of the health benefits of yogurt, including its role in weight management, gut health, and nutrition, along with a wide range of flavors and versatile consumption options, is driving the growing demand for yogurt globally.
- A larger number of people are consuming yogurt due to its health benefits. Yogurt is considered a protein-rich food source that improves metabolism. Therefore, eating yogurt throughout the day helps to burn more calories. Apart from weight loss, yogurt also enhances gut bacteria. Thus, the demand for yogurt is continuously rising and gaining popularity worldwide. Factors like increasing government-run health and wellness campaigns designed to combat obesity and related problems (diabetes, high blood pressure, heart disease, and high cholesterol) are encouraging consumers to purchase healthier products. This is directly boosting the consumption of dairy products, including yogurt. The per capita consumption of yogurt is expected to increase by 2.67% globally during 2023-2024.
- Yogurt is available in many flavors and can be taken as a drink, a frozen good, or a dessert. Labels offer expanded nutrient information and often carry the Heart and Stroke Foundation health check symbol. Yogurt is often fortified with additional vitamins, minerals, and fiber, enhancing the consumption of yogurt among consumers. For instance, as of 2021, 80.8% of consumers in the United States consumed flavored yogurt due to its significant nutritional benefits.
- The demand for yogurt-based recipes is increasing in cafes and restaurants, which is further boosting the market’s growth. This is also attributed to growth in the foodservice industry in different countries, especially in Southeast Asia, due to strategic expansion by foreign food chains and growing inbound tourists. In 2022, the number of tourist arrivals amounted to around 11.15 million, a drastic increase from the previous years.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Milk production has been increasing due to factors such as improved weather conditions, rising volume of milk per cow, and the changing dietary habits of consumers globally.
