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.
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Further key findings 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.
Grand View Research has segmented the global yogurt drink market on the basis of type, distribution channel, packaging, and region:
Type Outlook (Volume, Million Liters; Revenue, USD Million, 2014 - 2025)
Distribution Channel Outlook (Volume, Million Liters; Revenue, USD Million, 2014 - 2025)
- Hyper & supermarket
- Convenience Store
- Specialty Store
Packaging Outlook (Volume, Million Liters; Revenue, USD Million, 2014 - 2025)
- Plastic Bottle
- Tetra Pack
Regional Outlook (Volume, Million Liters; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.