The global yogurt powder industry size is forecast to reach USD 333.3 million in 2024 and further expand at a CAGR of 6.8% during the assessment period. Global sales of yogurt powders are predicted to total USD 642 million by 2034, owing to high nutritional content and probiotic advantages of yogurt-based products.
Demand remains particularly high for regular powdered yogurt because of high versatility and nutritional content. The target segment accounted for a prominent value share of 46% in 2023 and will likely progress at 6.6% CAGR through 2034.
A shelf-stable product, yogurt powder is gaining immense popularity, especially in the food and beverage sector. This can be attributed to high convenience, versatility, extended shelf life, and other advantages.
Leading Yogurt Powder Brands: Nestlé S.A., Danone S.A., General Mills, Inc., Yakult Honsha Co., Ltd., FrieslandCampina N.V., The Kraft Heinz Company, Lactalis Group, Kerry Group plc, Morinaga Milk Industry Co., Ltd., Chr. Hansen Holding A/S, Chobani, LLC
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Key Industry Highlights
Escalating Demand for Convenience Foods and Beverages
The global powdered yogurt industry is forecast to advance rapidly during the forecast period, owing to multiple factors. This is mainly due to surging demand for convenience food products globally.
Yogurt powder offers convenience to consumers without having them to care about perishability. The product can be easily stored for long periods, aligning perfectly with busy lifestyles and desires for on-the-go snacks. This convenience of powdered yogurt is set to create lucrative global yogurt powder market opportunities.
Health and Wellness Trends Augmenting Growth
Consumers across the world are becoming aware of the health benefits of yogurt and yogurt-based products, particularly high probiotic content. This is expected to uplift demand for yogurt powder as the product offers a convenient way to incorporate these benefits into the diet.
Several companies are also fortifying powdered yogurt with probiotics and other essential nutrients to make these attractive to health-conscious customers. This will help forms align with the growing health and wellness trends.
Growing Popularity of Plant-based Diets Boosting Sales
Trends like vegetarianism and surging popularity of plant-based diets are having a positive influence on the powdered yogurt market. These have paved way for the development of plant-based curd powder.
Today, leading companies are looking to create powdered yogurt from plant-based milks like soy and almond. Thus, with veganism penetrating its roots deep into society, demand for plant-based powdered yogurt will likely increase significantly through 2034.
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Competition Outlook
The competitive landscape in yogurt powder market is becoming fierce, with key players accounting for a significant share. Leading players like Nestle S.A., Danone S.A., General Mills, Inc., and Lactalis Group are constantly innovating to introduce new varieties added with functional ingredients like vitamins, probiotics, and minerals.
A new emerging category that is gaining traction in the industry is plant-based yogurt powders. Companies are looking to create more plant-based yogurt products to meet soaring demand for vegans and those with lactose intolerance.
The ongoing clean label trend is prompting companies to shift from artificial flavors and preservatives toward natural ingredients. Similarly, strategies like mergers, partnerships, acquisitions, new facility establishments, and joint ventures are becoming prevalent.
Certain companies are also eager to use excessive marketing strategies to stay ahead of the competition. Leading players are also showcasing new products at global events and exhibitions to increase customer base.
Industry Updates
- In December 2023, Kerry Group, headquartered in Ireland, announced the acquisition of Lactase Enzymes Business from Novozymes A/S and Chr. Hansen Holding A/S. The acquisition will give the company access to enzyme technology for creating lactose-free and low-sugar dairy products.
- Lactalis Ingredients, a prominent France-based producer and supplier of dairy ingredients, announced participation in the Africa Food Manufacturing event held in Cairo between 26 and 28 May 2024. The company will look to meet and exchange ideas with food industry professionals.
- In 2023, France-based Epi Ingredients showcased the company’s various new ingredients in several applications, including extra sour yogurt powder in a cookie filling and icing, ice cream, and yogurt drinks, at the FIE.
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Key Segments of the Market Report
By Type:
In terms of type, the industry is segmented into regular, low-fat, and non-fat.
By Flavor:
Based on flavor, the market is categorized into plain and flavored.
By Packaging Type:
Yogurt powder comes in sachets/pouches, cans/jars, and bulk packaging.
By Application:
In terms of application, the report is divided into food and beverage industry, nutraceuticals and dietary supplements, and cosmetics and personal care products.
By Distribution Channel:
Different sales channels include supermarkets and hypermarkets, convenience stores, online retailing, specialty stores, and others.
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
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Frequently Asked Questions
How big is the yogurt powder market?
Global revenue is set to total USD 333.3 million in 2024.
How is yogurt powder demand increasing?
Global demand is forecast to increase at 6.8% CAGR through 2034.
What is the estimated industry value for 2034?
By 2034, the global industry value is projected to total USD 642 million.
Which flavor type segment leads the industry?
Plain.
Who are the leading players in yogurt powder industry?
Nestle S.A., Danone S.A., General Mills, Inc., and Yakult Honsha Co., Ltd.
How big is the yogurt market?
The yogurt industry value totaled around 44,808.5 million in 2023.
What is yogurt powder used for?
Powdered yogurt is used in bakery products, snacks, and ice creams.