The Flavored Yogurt market was valued at US$ 59.3 Bn in 2018 and expected to grow at a CAGR of 6.2% during the forecast period from 2019 to 2027.
Market Insights
“Rising Health Awareness among consumers supports the market growth”
Flavor in the yogurt increases around 50% of the sales of yogurt in the U.S. in addition, the most favorite flavor is strawberry in the U.S is one of the key reason drives the growth of flavored yogurt market. Moreover, Greek yogurt is the most popular yogurt, preferred by around 50% of the adults. On the other hand, 50% of the children prefers whole-milk yogurt. Moreover, the overall yogurt market will accounts for around 115 billion by the year 2023. Thereby, increases the demand for flavored yogurt over the forecast period.
In addition, rising disposable income of consumers in the developing nations drives the demand for flavored yogurt. Moreover, innovation by the key manufacturers of flavored yogurt also contributes the growth of the market. Rising health awareness among consumers also drives the growth of the market over the forecast period.
Top manufacturers of Flavored Yogurt are focusing to increase their product portfolio by launching new products in the market.
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“Strawberry accounts for the largest segment in the overall flavored yogurt market”
Based on flavor, the strawberry fragment represented the most extreme offer in the worldwide market in 2018. Strawberry seasoned and strawberry mixed yogurt has been the most favored decision of enhanced yogurt among the purchasers because of the new shading, trademark sweet taste and the smooth surface, Strawberry is generally accessible products of the soil it is the most favored flavor by the shoppers over all age bunches internationally. Common strawberry enhance or the yogurt with strawberry pieces/pound is picking up fame and prone to encounter steady request from the market sooner rather than later.
Moreover, the increased penetration of consumers towards whey yogurts and beverages is growing. Thereby, increases the demand for flavored yogurt globally. The research studies suggests that around 60% population in Brazil consumers flavored yogurt. Moreover, people in Brazil prefers strawberry flavored yogurt thereby, increases the demand for the segment over the forecasted period.
Industrial Developments
In January, 2018, Hormel Foods merged with Menchie’s Frozen Yogurt. Through this merger the company aims to launch the limited-edition peanut butter flavored frozen yogurt. The Skippy is a blend of chocolate brownie and peanut butter flavored frozen yogurt. The new flavor of yogurt, enables to provide a unique taste to the customers.
Key Market Movements:
- Globally, the Flavored Yogurt market is rising at a CAGR of 6.2% for the estimated period from 2019 to 2027
- Europe dominated the global Flavored Yogurt market in the year 2018 and expected to continue its dominance during the forecast period. The dominance supported by factors such as the presence of top Flavored Yogurt manufacturers in the region. Moreover, rising inclination of consumers towards consuming flavored yogurt drives the demand of the market in the region.
- Asia Pacific is expected to grow at a significant rate during the forecast period due to large consumer base in the region.
- The flavor segment sub-divided into strawberry, mango, vanilla and others . The strawberry holds the largest share in 2018 and expected to continue its supremacy during the forecast period.
List of Companies Covered:
- Stonyfield Farm Inc.
- Nestle
- Emmi Group
- Chobani LLC
- Arla Foods
- Danone
- Fage International S.A.
- General Mills
- Yakult Honsha Co. Ltd.
- Britannia
- Fage international
- Mother Dairy
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