According to a new report published by Allied Market Research, titled, ” Flavored yogurt Market by Type, Application, and Form: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global flavored yogurt market size was at $63.6 billion in 2018 and is anticipated to reach $92.3 billion by 2026, with a CAGR of 4.8% during the forecast period. The market is expected to exhibit an incremental revenue opportunity of $28.7 billion from 2018 to 2026.
Strawberry, vanilla, peach and blueberry are the most popular yogurts flavors preferred by the consumers due to their characteristic aroma and taste. Flavored yogurt are the popular choice of breakfast, snack, dessert and beverage among health-conscious consumers. Due to the busy lifestyle, consumers have shifted their preference towards the consumption of convenience food products. Owing to the nutritional properties and wide range of flavors and product types available, flavored yogurt have become one of the most preferred choice of convenience food among the consumers.
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Growing awareness of the health benefits of yogurt have been driving the flavored yogurt market growth during the forecast period. Yogurt is a rich source of various essential nutrients including calcium, protein, phosphorus, potassium, and vitamins. It is also suitable for fortification to enhance the nutritional value of yogurt and flavor addition to enhance the taste and visual appeal of the product. Owing to the busy lifestyle, consumers are inclined towards the consumption of convenience food products. Due to nutritional properties and range of flavors available, flavored yogurt have become one of the most preferred choice of convenience food among the consumers. These factors are likely to drive the market during the flavored yogurt market forecast.
The flavored yogurt market is segmented on the basis of flavor, distribution channel, type, and region. Based on flavor, the flavored yogurt market is categorized into strawberry, vanilla, peach, blueberry, and others. Strawberry has been the most preferred choice of flavored yogurt among the consumers due to the fresh color, characteristic sweet taste and the smooth texture. The strawberry segment was valued at $25.8 billion and is expected to grow with a CAGR of 4.3% from 2019 to 2026, to reach $36.1 billion by 2026. The blueberry segment is estimated to be the fastest growing segment, with a CAGR of 5.8% during the forecast period.
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On the basis of type, the strawberry segment accounted for the maximum share in the global market in 2018. Strawberry flavored and strawberry blended yogurt has been the most preferred choice of flavored yogurt among the consumers due to the fresh color, characteristic sweet taste and the smooth texture
On the basis of distribution channel, the supermarket/hypermarket segment was dominant, which accounted for around half of the share in flavored yogurt market in 2018 and is expected to retain its dominance throughout the forecast period.
On the basis of type, the conventional segment held a significant share in the global market in 2018. However, the organic segment is expected to garner a considerable growth rate, owing to increase in consumer inclination towards the organic food products. On the basis of region, Europe was the prominent market in 2018 and accounted for the maximum share in the global flavored yogurt market.
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Key Findings of the Flavored Yogurt Market :
The flavored yogurt market was valued at $ 63.6 billion in 2018 and is estimated to reach $92.3 billion by 2026, growing at a CAGR of 4.8% during the forecast period.
By type, the organic segment is estimated to witness the fastest growth, registering a CAGR of 11.6% during the forecast period.
In 2018, by distribution channel, the supermarket/hypermarket segment held the highest share, accounting for one third of the global flavored yogurt market share.
In 2018, Germany was the most prominent market in the Europe region and is expected to grow at a significant CAGR throughout the forecast period.
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The key players profiled in this report include Danone, Nestle, Chobani LLC, General Mills, Arla Foods, Müller, Fage International S.A., Stonyfield Farm Inc., Emmi Group, and Cabot Creamery.
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