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 $100 million incremental investment to fuel momentum as company continues to grow category and push into new areas. This move will help the company to meet demand for new and existing products.
- In 2017, GROUPE DANONE, acquires WhiteWave, which was a strategic move towards plant-based food and drinks, helping to meet consumer expectations for healthier and sustainable choices. This acquisition will enhance the product portfolio with health focused and consumer loved brand options.
- Dairy Based
- Plant Based
- Food Service (HoReCa)
- Store Based Retailing
- Food & Drink Specialty Stores
- Independent Small Grocery
- Online Retail
- North America
- Latin America
- East Asia
- South Asia
High protein yogurt Market Outlook & Key Findings
- Future Market Insights (FMI) forecasts positive growth for global high protein yogurt market at a CAGR of 8% between 2020 and 2030
- Consumer preferences are inclining towards maintaining a healthy lifestyle, which has led to the higher consumption of high protein products with potential health benefits.
- Over 82% of high protein yogurt accounts for flavored. Despite availability in regular, flavored high protein yogurt will remain consumer favorite, finds FMI
- Spoonful high protein yogurt is valued at US$ 26,612.3 Mn in 2020 and is anticipates to reach US$ 58,436.5 Mn with a value CAGR of 8.2%
- Focusing on developing plant-based probiotic yogurt creating opportunities for the manufacturers in the high protein yogurt market