The global high protein yogurt market is stipulated to surpass USD 70 Billion by the end of 2030. According to a recent study conducted by Future Market Insights (FMI), for the period 2020 and 2030. Over the span of ten years the demand would show a growth at a CAGR of over 8%.
According to the study, growing demand for protein consumption is expected to accelerate market growth. The study offers a detailed analysis of the industry, covering key drivers of growth, opportunities, restraints and dominant trends. It uses innovative analysis techniques to provide market analyses with the most precision.
The FMI study delves deep into the prevailing dynamics to offer interesting insights into the high protein yogurt market. Some of these are:
- In 2020, the estimated market value for high protein yogurt is USD 32 Billion. The market is expected to show significant growth over the forecast period
- APEJ, North America and Europe as primary markets for high protein yogurt anticipated to exhibit steady growth
- Conventional segment is expected to remain dominant in terms of nature. Conventional high protein yogurt holds a share of 84% in the global high protein yogurt market.
- Consumers are moving towards high protein yogurt owing to its various types of flavour options available in the market. Manufacturers are focusing on innovations and product launches to cater to the rising demand for high protein yogurt
- Store based retailing has the largest market share, based on the sales channel, and is projected to rise at a promising rate over the forecast period.
- Key players are likely to focus on business expansion and product launches to compete in the developed markets
- The demand for high protein yogurt is expected to rise as consumers increasingly focus on health and fitness. High protein yogurt shows the intra-trend of complexity and investment that modern populations are making.
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Various Flavors to Provide Range of Options to the Buyers
Product innovation and development is a continuous process which has evolved the food industry over the decades. From several flavors available for high protein yogurt, most commonly available flavors under brand names include plain, strawberry, vanilla, raspberry, peach, chocolate, and blueberry. Additionally, there are certain unique flavors that are offered by various brands. As consumers always look for innovative flavors, therefore these products may provide range of option to the consumers and also beneficial for the manufacturers. The increasing flavor inspiration among the customers has raised the demand for vibrant flavors and more palatable products in the market, which has generated various new concepts in the yogurt industry, High protein yogurt are gaining consumer’s attention with their nutritional value and vibrant flavor offerings by leading brands
“The high protein yogurt market, spearheaded by boomers and millennial demographics, is no longer complacent in antiquated practices. By embracing innovation, manufacturers are exploring an array of imaginative possibilities in producing high protein yogurt while consumers are no longer tied to a few unbecoming options.” said a lead analyst at FMI
Who is winning?
As manufacturers seek to lessen the unpredictability caused by demand uncertainty and surging cost, they are aiming at higher control over the supply chain to aid organizational alertness and improve pace to market. Moreover, by focusing on building an organization that is adequately flexible to prosper in today’s economy, manufactures are correspondingly keeping an eye on the bigger picture. Those operating in food and beverage industry are improving supply chain efficiencies thereby lowering operational costs to gain greater profits in highly competitive industry. The companies are also focused on new product launches and expansion of the company.
- In 2018, General Mills, Inc., launched its latest yogurt YQ by Yoplait, which is a high protein and less sweet yogurt made with ultra-filtered milk. Yogurt is offered in plain and flavoured variety. Flavoured variety includes lime, mango, strawberry, peach, blueberry, coconut, and vanilla which has 9 grams of sugar and 15 grams of protein.
- In 2016, Chobani, LLC, expands its manufacturing facility in Twin Falls, Idaho which will help the company to grow in the region and state. The company invests nearly $100 million incremental investment to fuel momentum as company continues to grow category and push into new areas. This move will help the company to meet demand for new and existing products.
- In 2017, GROUPE DANONE, acquires WhiteWave, which was a strategic move towards plant-based food and drinks, helping to meet consumer expectations for healthier and sustainable choices. This acquisition will enhance the product portfolio with health focused and consumer loved brand options.
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Get Valuable Insights into High protein yogurt Market
Future Market Insights, in its new report, presents an unbiased analysis of the global high protein yogurt market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. Based on nature the market can be segmented into organic and conventional. In terms of product type, the market can be segmented into spoonful and drinkable. Based on source the market can be segmented into dairy based and plant based. Based on flavour the market is segmented into regular and flavoured. Based on sales channel the market is segmented into food service (HoReCa), store based retailing and online retail. Regionally, the market covers North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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