Global Flavored Yogurt Market By Flavor Type (Strawberry, Vanilla, Blueberry, Peach and Others), By Distribution Channel (Supermarket, Convenience Stores, Online and Other), By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Flavored Yogurt Market
Market Report Description
The Global Flavored Yogurt Market size is expected to reach $58.4 billion by 2027, rising at a market growth of 7.5% CAGR during the forecast period. Fermented dairy products are considered as a good source of probiotic bacteria. Fermented milk is made up of inoculating the culture and enzyme in it that helps in converting lactose to lactic acid. Various products such as butter, yogurt, cheese, Kefir, and others are made by the process of milk fermentation and this inoculation.
Flavored yogurt refers to the fermented dairy products. It has added flavors and offers various health benefits. Nowadays, health-conscious consumers show high inclination towards using flavored yogurt in breakfast, snack, dessert, or beverage. The demand for fermented milk products including yogurt has witnessed an upsurge and continuously gaining popularity due to increasing health awareness.
The main factors driving the demand for flavored yogurt are shifting dietary habits, increasing health awareness, and a rise in consumer disposable income. The growing popularity of ready-to-eat foods across the globe also contributes to the growth of the flavored yogurt market.
Yogurt is very nutritious which contains essential nutrients that are needed by the human body. Yogurt is also considered as an effective food that helps in weight loss and nutritional diet. It is rich in calcium, vitamins, and trace minerals like potassium, phosphorus, & magnesium. The higher content of protein in yogurt influences appetite control and also suppresses hunger.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has adversely affected the flavored yogurt manufacturing across the globe. However, the demand for flavored yogurt increased substantially during the pandemic across the world. However, there is a decline in supply due to the stringent lockdown norms imposed by the government of various countries in order to curb the spread of the virus. It has resulted in an increase in food prices from the perspective of an economic theory.
The re-opening of production and processing facilities has been established. Demand for probiotic yogurt would continue to boost during pandemic due to the increasing health consciousness among people in order to boost their immunity. Growing preference towards natural ingredients containing products is expected to fuel the demand for probiotic yogurt during the pandemic.
Flavor Type Outlook
Based on Flavor Type, the market is segmented into Strawberry, Vanilla, Blueberry, Peach and Others. Strawberry flavored and strawberry blended yogurt is one of the most preferred choices of flavored yogurt among consumers of all age groups due to its characteristic such as sweet taste, fresh color, and smooth texture. Strawberry is a fruit that is used to enhance the flavor of the yogurt.
The manufacturers of yogurt are focused on bring innovation in their product offerings. They are offering plant-based yogurt and Greek yogurt that are gaining more traction among consumers. Thus, these aspects are likely to drive the demand for the segment. The increasing focus on health changing dietary habits is driving the demand for the flavored yogurt market. These products are easily available at convenience stores, which will augment the demand of such products in the next few years.
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into Supermarket, Convenience Stores, Online and Other. The online segment would see bright prospects in developed regions including North America and Europe. It will witness a major CAGR during the forecast period. Faster delivery options and discounts that are offered by the brands on the online purchase are among the major factors boosting the growth of the segment.
|Market size value in 2020||USD 34 Billion|
|Market size forecast in 2027||USD 58.4 Billion|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 7.5% from 2021 to 2027|
|Number of Pages||177|
|Number of Tables||293|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Flavor Type, Distribution Channel, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is expected to be one of the major revenues generating regions in the flavored yogurt market due to increasing awareness of the benefits of consuming yogurt and the preference for low-calorie snacks. Moreover, the easy availability of yogurt in a variety of flavors and continuous developments of new flavors are expected to boost the growth of the flavored yogurt market. Furthermore, the new concept of the split pot which enables the market players to market yogurt as a complete meal by adding some eatables with yogurt is projected to boost the flavored yogurt market growth in this region.
KBV Cardinal Matrix - Flavored Yogurt Market Competition Analysis
Free Valuable Insights: Global Flavored Yogurt Market size to reach USD 58.4 Billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Nestle S.A. is the major forerunner in the Flavored Yogurt Market. Companies such as Lactalis Group, Danone S.A., and General Mills, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Mills, Inc., Danone S.A., Nestle S.A., Fonterra Co-operative Group Limited, Lactalis Group, Arla Foods Amba, Fage International S.A., Chobani LLC, China Mengniu Dairy Company Limited, and Yili Group.
Recent Strategies Deployed in Flavored Yogurt Market
» Partnerships, Collaborations, and Agreements:
- Feb-2021: Lactalis Canada collaborated with Dairy Farmers of Canada. Under this collaboration, Lactalis Canada would start featuring the iconic Blue Cow logo on yogurt products marketed within the Astro and Stonyfield brands. The adoption of the Blue Cow logo on these brands would help customers identify products made with 100% high-quality, nutritious Canadian milk, made as per the most stringent standards in the world.
- Nov-2020: Danone North America came into a partnership for three years with Barcelona, a Spanish professional football club. Under this partnership, the range of Danone yogurts, coffee creamers, and plant-based beverages that include Danimals, Activia, International Delight, Dannon, Oikos Triple Zero, and Silk would have regional rights with FC Barcelona’s men’s and women’s teams and also the club’s U.S. youth soccer academies.
- Oct-2020: Danone North America entered into a partnership with Full Harvest, a business-to-business online marketplace. This partnership aims to create a new range of yogurts flavored with fruit that would have been wasted. In this partnership, two 'Good Save' yogurts is introducing with a Meyer lemon flavor that would feature a Full Harvest Verified Rescued Produce seal.
- Jan-2020: Yili teamed up with Luckin Coffee, a chain of the coffee shop. This collaboration is the extension of coffee into the ambient yogurt drink category, which inspires companies in Southeast Asia for a potential coffee & dairy collaboration in the future.
» Acquisition and Mergers:
- Apr-2021: Lactalis took over the processing and warehouse facilities of Cativa. These facilities are located in Cerqueira César in the state of São Paulo, and others are located in Londrina and Pato Branco, both located in Paraná state. In addition, Lactalis also signed a ten-year milk supply agreement with Cativa, where both the companies would work together to make the regional milk industry.
- Jul-2019: Lactalis took over the US yogurt division of Ehrmann AG, the largest milk processing company. This acquisition aimed to strengthen the business of Lactalis.
» Product Launches and Product Expansions:
- Jun-2021: Chobani unveiled Zero Sugar with 60 Calories & Only Natural Ingredients. This Chobani Zero Sugar is a firstly distributed product in the U.S. yogurt aisle, which contains no sugar.
- Apr-2021: General Mills launched Ratio Protein, a high-protein dairy snack. This snack helps customers to kick-start their health routines. It is a single-serve offering with more protein in the yogurt aisle; it also includes 25 grams of protein and just 3 grams of sugar.
- Dec-2020: Chobani released a wide range of new products. This range includes the Chobani Probiotics portfolio of yogurts & drinks and flavor expansion to its prevailing oat milk and creamers product line. This innovation wave consists of approx a dozen of new SKUs, which are all set to launch.
- May-2020: Danone launched Starbucks, an American multinational chain of coffeehouses and roastery reserves. This partnership aimed to expand its reach focusing on the lunch market with the release of Evolution Fresh smoothies protein-enriched with Dannon Oikos Greek yogurt.
- Apr-2020: Arla Foods introduced a clean-label concept to assist brands in fulfilling the demand for ambient yogurt in China. This new solution is the first of its type and utilizes Nutrilac YO-4575, which is a 100% natural whey protein, to deliver unrefrigerated yogurts in a top position with all-natural ingredients.
Scope of the Study
Market Segments Covered in the Report:
By Flavor Type
By Distribution Channel
- Convenience Stores
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- General Mills, Inc.
- Danone S.A.
- Nestle S.A.
- Fonterra Co-operative Group Limited
- Lactalis Group
- Arla Foods Amba
- Fage International S.A.
- Chobani LLC
- China Mengniu Dairy Company Limited
- Yili Group
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How valuable will the flavored yogurt market be in the future?
The global flavored yogurt market size is expected to reach $58.4 billion by 2027.
What are the key driving factors and challenges in the flavored yogurt market?
The increasing requirement for companies to process huge amount of semi-structured & unstructured documents with better precision & speed are driving the market in coming years, however, Fulfilling the governance and compliance conditions have limited the growth of the market.
What are the major top companies in the competitive landscape?
General Mills, Inc., Danone S.A., Nestle S.A., Fonterra Co-operative Group Limited, Lactalis Group, Arla Foods Amba, Fage International S.A., Chobani LLC, China Mengniu Dairy Company Limited, and Yili Group.
Has COVID-19 impacted the flavored yogurt market?
Yes, The re-opening of production and processing facilities has been established. Demand for probiotic yogurt would continue to boost during pandemic due to the increasing health consciousness among people in order to boost their immunity.
Which segment shows a high revenue share of the flavored yogurt market in 2020?
On the basis of flavor, the strawberry segment procured the maximum revenue share of the market in 2020.
Which region is acquiring the largest market in 2020?
Europe emerged as the leading region by acquiring the largest market for flavored yogurt. It is due to the increasing popularity of flavored Greek yogurt and berry yogurts in the market.