Future Market Insights (FMI) in a new study has forecast the probiotic yogurt market to exhibit 6.8% Y-o-Y growth in 2021. Despite contraction registered during COVID-19 outbreak due to supply chain disruptions caused during extended period of lockdown, growth rate is expected to recover 2021 onwards. The rising focus on health and wellness is expected to drive sales uptick in the coming years.
Probiotic yogurt is the best source of good bacteria that improves health of gut. Probiotic yogurt can also be consumed by lactose intolerant population as it changes lactose into lactic acid. As the global population is still learning about the benefits of probiotic yogurt, the market is expected to grow further in the forecast period.
According to guidelines of U.S., probiotic yogurt must contain at least two strain of bacteria in it for instance, Streptococcus thermophilus, and Lactobacillus bulgaricus. Manufacturers are investing heavily in identifying the new strains of bacteria to be used in probiotic yogurt. According to researches benefits of Lactobacillus, Streptococcus, and Bifidobacterium families of bacteria are identified in probiotic yogurt and is proven to improve immunity, gut health, and overall digestive health.
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As per FMI, hypermarket/ supermarkets are anticipated to hold prominent share of market value of 40.5% in the year 2021 and is further expected to exhibit growth at 7.3% between 2021 and 2031. Hypermarket/Supermarkets such as Target, Walmart, and more are strengthening their market presence and consumer engagement thus consumers are preferring this sales channel where they can find wide options to choose from.
Besides this, manufacturers are focusing on promoting probiotic yogurt as a healthy on-the-go snacks, which is the factor that consumers find appealing and thus will drive the market further.
Key Takeaways from the Probiotic Yogurt Market Study
- Probiotic yogurt market outlook remains strong for the forthcoming 10 years as it is forecast to register 7.2% CAGR between 2021 and 2031
- US holds 85.2% share in 2021 and outlook remains positive
- UK will register a Y-o-Y growth of 5.2% in 2021
- Outlook for Germany and France remains positive as both countries exhibit high degree of awareness regarding health and wellness
- JAPAN and South Korea will continue to be a bright spot in East Asia
“Manufacturers are adopting various strategies to accommodate changing consumer demand. This has led to diversification of probiotic yogurt with the aim to appeal to diverse preferences of consumers. This has led to the launch of varied flavors”
Manufacturers are Developing Plant-based Sources for Probiotic Yogurt
With rapidly increasing vegan population across the globe manufacturers of probiotic yogurt finds it essential to develop product offering to address this market segment. Increasing awareness of animal cruelty and climate change has fueled the vegan population to grow, and as a result of this, dairy alternatives, such as plant-based source are widely accepted by this growing population.
Probiotic Yogurt manufacturers are further developing alternate process. These process are developed as natural fermentation of milk is hard to control and thus quality of each batch may differ.
Health Conscious Population to Incline Towards Probiotic Yogurt
Scientific studies have indicated that probiotic yogurt provides various health benefits and is directly associated with healthier metabolic profiles. Also, yogurt is an excellent source of potassium, calcium, zinc, magnesium, vitamin B12, and vitamin B2. Probiotic yogurt contains around billions of live bacteria that help to improve the microflora of the gut, and thus, supports healthy digestion. Probiotic yogurt lowers the chances of type-2 diabetes, increases bone density, might also help to prevent osteoporosis, reduces the risk of colorectal cancer, lowers bad cholesterol and blood pressure, supports weight loss, and boosts the immune system. Thus, the numerous health benefits of probiotic yogurt are expected to attract health-conscious consumers.
Who is winning?
A few of the leading players operating in the Probiotic Yogurt market are Danone Ltd., Chobani, LLC., Sovos Brands Intermediate, Inc., FAGE International S.A., Good Karma Foods, Inc., The Coconut Collaborative, General Mills, Inc., Inner Mongolia Yili Industrial Group Co., Ltd, Groupe Lactalis S.A., Ehrmann AG, Yofix Probiotics Ltd., Nestlé S.A., Olympic Dairy Products Ltd, COYO Pty Ltd., GT’s Living Foods LLC, Forager Project, LLC , Mother Dairy Fruit & Vegetable Pvt Ltd., Lancashire Farm Dairies, Fonterra Co-operative Group Limited, Meiji Holdings Company, Ltd., and other players.
Key players of probiotic yogurt are endeavoring to develop plant-based and organic yogurt. Chobani developed launched a new line of vegan plant-based probiotic yogurt made using coconut. Manufacturers like Danone are launching novel flavors for probiotic yogurt like lemon ginger, real honey. According to changing consumer preference manufacturers are producing probiotic yogurt products that contain less sugar, fat, artificial additives, etc. Manufacturers of probiotic yogurt are also following increasing their product portfolio and market reach by merging and acquiring key pioneers of the market.
- In February 2019, The Coconut Collaborative announced that the company will soon start manufacturing activity in the U.S.
- In January 2019, Yofix Probiotics Ltd. launched the plant-based clean label yogurt alternatives. It has launched dairy-free, soy-free yogurt alternatives that are available in three flavors.
Get Valuable Insights into Probiotic Yogurt fiber Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Probiotic Yogurt market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the Probiotic Yogurt market based on Product Type (Drinkable Probiotic Yogurt, Spoonable Probiotic Yogurt), By Source (Animal-based, Plant-based), By Nature (Organic, Conventional), By Favor (Regular/Unflavored), By Fat Content (Regular/Whole Milk, low-fat, fat-free), By Sales Channel (Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Online Retailers, Wholesalers, Grocery Stores, and Other Retail Formats), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa).