DUBAI, U.A.E, Aug. 3, 2020 /PRNewswire/ -- The global high protein yogurt market will showcase strong growth from 2020-2030, surpassing US$ 70 Bn by the end of the forecast period.
As consumers prefer healthier lifestyles, a tilt in food preferences is becoming evident, with an uptick in consumption of high-protein diets. Preference for plant-based yogurt has witnessed an upsurge in recent years, attributed to high consumption of plant-based snacks in the wake of increasing humanization of animals.
Key players are capitalizing on consumer's taste preference to introduce innovative yogurt flavors, ranging from plain, vanilla, chocolate, strawberry, peach, blueberry and chocolate, to acquire a firm footing in the market. Additionally, some manufacturers are selling specialized flavor combinations, enabling them to reap enhanced revenue shares.
"Market players are increasing their outreach into emerging economies in Asia due to a large population base with high disposable incomes, enabling them to spend on premium products," concludes an FMI analyst.
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Key Takeaways from FMI's High Protein Yogurt Market Report
- Spoonful high protein yogurt will dominate the market, expanding at a CAGR of 8.2% to reach ~US$ 60 Mn by 2030
- Plant-based yogurt will acquire traction due to heightened demand for healthy foods
- Flavored yogurt to be highly popular among consumers due to preference for different tastes
- Store-based retailing accounted for the maximum share in terms of sales channel. However, online retailing is acquiring major ground
- APEJ to generate maximum growth opportunities from 2020-2030
- Global high protein yogurt market shall expand at a CAGR of 8%
High Protein Yogurt Market- Key Trends
- Demand for authentic and fresh foods by consumers is accelerating consumption of high protein yogurt in various countries
- Growing demand for healthy products is prompting manufacturers to offer clean-label yogurt at premium prices
- Low-fat fruit smoothies are becoming highly popular amongst consumers
- Market players are exploiting advertisement platforms to develop strong promotional approached towards selling their products
- Stringent government regulations delay product launches, hindering expansion prospects in the long-run
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High Protein Yogurt Market- Region-wise Analysis
- Demand from Asia-Pacific Excluding Japan shall remain strong throughout the forecast period, attributed to surging disposable incomes
- Preference for clean-labelled premium products will sustain demand across European and North American markets
High Protein Yogurt Market- Competitive Landscape
Prominent players are streamlining their supply chains to reduce operating costs and earn higher profits. Moreover, players are introducing innovative flavors through product launches as well as acquiring other players to gain a competitive edge. They are also incorporating formulations aimed at offering health benefits to consumers.
Additionally, aggressive marketing is enabling players to expand their product outreach. For instance, in 2018, Epi Ingredients introduced SoBenefik, a high-protein yogurt manufactured from ultra-filtered dairy powders. It was a part and parcel of the company's SoUnik series of finished product concept.
In 2017, Danone acquired WhiteWave in order to expand its food & beverages portfolio and meet consumer expectations for sustainable food products. Also, in 2018, General Mills, Inc. introduced the YQ yogurt by Yoplait, having high protein and less sugar content.
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High Protein Yogurt Market Taxonomy
Nature
- Organic
- Conventional
Product Type
- Spoonful
- Drinkable
Source
- Dairy Based
- Plant Based
Flavor
- Regular
- Flavored
- Berries
- Vanilla
- Chocolate
- Peach
- Mango
- Banana
- Apple
- Others
Sales Channel
- Food Service (HoReCa)
- Store Based Retailing
- Hypermarkets/Supermarkets
- Food & Drink Specialty Stores
- Independent Small Groceries
- Online Retail
Region/Country
North America
- U.S
- Canada
Latin America
- Brazil
- Mexico
- Rest of Latin America
Europe
- EU-5
- BENELUX
- Nordic Countries
- Russia
- Poland
- Rest of Europe
East Asia
- China
- Japan
- South Korea
South Asia
- India
- Thailand
- Malaysia
- Indonesia
- Singapore
- Rest of South Asia
- Oceania
- Australia
- New Zealand
Middle East & Africa
- GCC
- South Africa
- North Africa
- Rest of MEA
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Get Valuable Insights into High Protein Yogurt Market
Future Market Insights, in its new report, presents an unbiased analysis of the global high protein yogurt market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market, enabling readers to glean appropriate quantitative and qualitative information and take appropriate marketing decisions.
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Plant Based Yogurt Market: The plant-based yogurt market is all set to experience a double-digit growth between 2020 and 2030 as consumers tilt in favor of healthier and plant-based diets in the coming future, concludes FMI in its study.
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