Future Market Insights: FMI states in its recent study on the probiotic yogurt market that the market will record a CAGR of 6.3% through 2021. Demand for probiotic yogurt is anticipated to continue surging particularly due to the rising health consciousness among people of all age groups.
In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for taurine. The report tracks the global sales of taurine in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the food and beverage industry in general, and taurine in particular.
“Adapting to the progressing wave of veganism, the global market will witness increased probiotic yogurt made from plant-based sources or dairy alternatives. Dynamic preferences of vegan and the flexitarian population are remarkably influencing the probiotic yogurt market. .” says the FMI analyst.
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Probiotic yogurt Market – Important Highlights
- Spoonable yogurt is estimated to hold the leading market share in the projected years owing to the preference of consumers for the taste and texture.
- Due to rising health concerns, low fat content probiotic yogurt is estimated to lead the market and is projected with a CAGR of 6%
- As of now, supermarkets dominate the share in the global market, however, online retailers are estimated to gain traction during the upcoming projected years.
- The US is expected to hold a prominent place in the market due to an established consumer base
- Opportunities for the market growth are plenty in China in the forecasted years, because almost half of the people are overweight and there is a rise in health concern among them.
Probiotic yogurt Market – Drivers
- Rising awareness due to the associated health benefits and its help in the prevention of diseases such as diabetes and facilitating weight loss will generate growth prospects.
- the Probiotic yogurt market is expected to witness an increase in demand for plant-based sources or dairy alternatives, adapting to the progressing wave of veganism.
- Increasing preference towards products made from natural ingredients is boosting demand for probiotic yogurt.
- The increase in demand for exotic flavors like blueberry, mint coriander, banana chocolate will drive the growth of the market.
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Probiotic yogurt Market – Restraints
- Is comparatively pricey compared to other dairy products which are thought to be a key constraint for the market.
- Rapidly changing consumer demand which is why companies need to have their foot in innovation and continuously improve, which can cause problems at times.
COVID-19 Impact on Probiotic yogurt Market
During the onset of COVID, the market was driven by the stockpiling of groceries which was followed by a lockdown. As health and hygiene were on the top priority list of customers, there was a rapid increase in sales in probiotic yogurt due to its excellent source of essential nutrients such as potassium, calcium, zinc, magnesium, vitamin B12, and vitamin B2. During the onset of lockdown, there was an increase In demand generated from the eCommerce stores.
Competitive Landscape
The probiotic yogurt market players are leaning towards the expansion of the production facilities and increasing their types of products besides opting for strategic collaborations to attain a competitive edge. For this, they are introducing probiotic yogurt infused with different flavours and exotic fruits. Some of the leading companies operating in the market are Danone S.A., General Mills, Inc., Nestlé S.A. among others.
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Key Segments
Product Type
- Drinkable Probiotic Yogurt
- Spoonable Probiotic Yogurt
Source
- Animal-based
- Plant-based
- Soy Milk
- Almond Milk
- Coconut Milk
- Others
Nature
- Organic
- Conventional
Flavor
- Regular/Unflavored
- Flavored
- Vanilla
- Strawberry
- Blueberry
- Peach
- Others
Fat Content
- Regular/Whole Milk
- Low-fat
- Fat-free
Sales Channel
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Online Retailers
- Wholesalers
- Grocery Stores
- Other Retail Formats
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