The global yogurt powder market is projected to reach a value of USD 333.3 million in 2024 and expand to USD 642 million by 2034. The demand for yogurt powder is expected to grow at a compound annual growth rate (CAGR) of 6.8% throughout the forecast period.
Sales of regular yogurt powder are particularly strong due to its high nutritional content. This segment represented 46% of total revenue in 2023 and is expected to see substantial growth through 2034.
Several factors are anticipated to drive growth in the yogurt powder market during the assessment period, including shifting dietary preferences, increased demand for healthy and convenient snacks, and rising health and wellness trends.
Yogurt powder is becoming increasingly popular with both manufacturers and consumers because of its convenience and extended shelf life. This trend is expected to significantly contribute to market growth during the assessment period.
Rising health and wellness trends are positively influencing global yogurt powder sales. Consumers are increasingly drawn to yogurt and yogurt-based products for their high nutritional content and potential health benefits.
Another prominent factor boosting sales growth is the escalating demand for functional foods. Today, consumers are constantly seeking functional foods that offer multiple health benefits. Yogurt power, fortified with probiotics and other essential nutrients, caters to this demand.
How is Increasing Awareness about Health Enabling Yogurt Powder Sales?
Consumers around the world have become increasingly aware about health and wellness. This has remain one of the chief drivers of the yogurt powder market. The probiotic nature of yogurt powder is considered good for digestive system and overall health. This has resulted in its increasing application in the food and beverages processing industry.
Yogurt powder is considered a high source of potassium, vitamin D phosphorous, protein, and calcium. Certain studies have even stressed on its role in the prevention of osteoarthritis. As per the International Osteoporosis Foundation (IOF), approximately 2oo million people around the world are affected by this condition. In fact, nearly 30% of premenopausal women in the United States and Europe often complaints of osteoarthritis
Key Takeaways from Market Report:
- The global market is forecast to reach USD 642 million by 2034, registering a 6.8% CAGR.
- Based on type, the regular segment is set to record a CAGR of 6.6% through 2034.
- By flavor, the plain segment dominated the industry with a share of 63% in 2023.
- Western Europe’s yogurt powder market is expected to reach US$232 Million by 2033, growing at a steady 7.8% CAGR from 2023’s US$110 Million market
- China will likely record a CAGR of 7.4% between 2024 and 2034.
- Yogurt Powder Japan Market expected to hit worth US$ 11.3 million at CAGR of 8% during forecast period 2023 to 2033
- Sales in the United States are projected to total USD 114.2 million by 2034.
- Yogurt Powder Korea Market expected to hit worth of US$ 24.3 million at CAGR of 8% during forecast period of 2023 to 2033
Who is Winning?
The yogurt powder industry has a diverse and dynamic competitive landscape, with leading players like Nestle S.A., Danone S.A., General Mills, Inc., and Lactalis Group holding significant shares.
Top players are constantly innovating to create new varieties added with functional ingredients like vitamins, probiotics, and minerals. Plant-based yogurt powders are gaining momentum in the market amid soaring demand from vegans.
The ongoing clean label trend is prompting companies to shift from artificial flavors and preservatives toward natural ingredients. Similarly, strategies like acquisitions, mergers, partnerships, new facility establishments, and joint ventures are becoming prevalent.
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
Industry Updates:
- In December 2023, Ireland-based Kerry Group announced the acquisition of Lactase Enzymes Business from Novozymes A/S and Chr. Hansen Holding A/S.
- Lactalis Ingredients, a prominent France-based producer and supplier of dairy ingredients, announced its participation in Africa Food Manufacturing event held in Cairo between 26 and 28 May 2024.
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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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