The global yogurt drink market is expected to reach USD 44.46 billion by 2025
at a 4.8% CAGR, according to a new report by Grand View Research, Inc. The
market is anticipated to witness a higher growth rate in comparison to
plant-based drinks on account of better health benefits and low cost of yogurt
drinks.
Factors such as increased per capita spending and urbanization are likely to
fuel yogurt consumption. Rise in awareness about its benefits and increase in
preference for yogurt among consumers looking to lead an active and healthy
lifestyle are expected to play a significant role in driving industry growth.
Regular consumption of yogurt drinks helps in lowering obesity. Having whole
yogurt drink helps keep the stomach full, thereby discouraging overeating or
eating at frequent intervals. Companies such as Benecol Limited offer
low-cholesterol yogurt containing plant stanols.
Further key finding from the report suggest:
- The flavored yogurt drink segment accounted for a revenue share of 37.6% in
2016 owing to launch of healthy and delicious products by companies
- The regular yogurt segment accounted for a 34.63% market share in 2016 in
terms of revenue and is expected to expand at a CAGR of 5.0% from 2017 to 2025.
This growth can be attributed to preferred taste of regular yogurt as compared
to fat-free variants and the fact that regular yogurt is less processed
compared to other types
- Convenience store distribution channel captured a market share of 29.37% in
2016 and is expected to witness significant growth over the forecast period.
This can be attributed to increased number of working individuals, hectic work
schedules, and single-person households
- Demand for yogurt in tetra packs is expected to decline owing to rise in
demand for on-the-go breakfast items and consumer preference for plastic
bottles over tetra packs
- Regional expansions and R&D are key strategies adopted by major market
players to strengthen their position in the industry. A large number of
companies are continuously striving to innovate and develop new flavors and
varieties to expand their scope in the yogurt drink market.
- Friesland Campina acquired Ivory Coast dairy business from Olam
International, Singapore, in 2014 to boost its presence in the emerging markets
of Africa and Asia.