“The Business Research Company recently released a comprehensive report on the Global Drinking Yogurt Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
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According to The Business Research Company’s, The drinking yogurt market size has grown strongly in recent years. It will grow from $40.79 billion in 2023 to $44.39 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to rising demand for probiotic foods, growing awareness of health and wellness, rising disposable incomes in various regions, attracted diverse consumer segments, and increased immunity-boosting food products.
The drinking yogurt market size is expected to see strong growth in the next few years. It will grow to $63.28 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing demand for plant-based, growing emphasis on sustainable sourcing, improved preservation methods, rise of online shopping and subscription, and increasing consumer consumption of healthy foods. Major trends in the forecast period include growing inclusion of functional ingredients, plant-based yogurt drinks made, launch new flavors, yogurt drinks made with a variety of milk, and rising innovation in ingredients.
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Market Drivers and Trends:
The increasing consumption of dairy food is expected to propel the growth of the drinking yogurt market going forward. Dairy foods refer to products made from the milk of mammals, such as cows, goats, and sheep. The increasing consumption of dairy food is due to rising awareness of its nutritional benefits, cultural preferences, changing lifestyles, and influencing consumer choices. Drinking yogurt is widely used as a dairy product in various ways due to its versatility, nutritional benefits, and convenience. Its versatility and health benefits make it a popular dairy product for culinary and nutritional applications. For instance, in November 2023, according to the Foreign Agricultural Service, a US-based department of agriculture overseas, milk consumption for factory use rose to 5.847 MMT from a projected 5.817 MMT in 2023. Additionally, a new record of 445,000 metric tons of cheese production is anticipated in 2024, a rise of 28% from 2023. Therefore, the consumption of dairy food drives the drinking yogurt market.
Major companies operating in the drinking yogurt market are focused on developing innovative products such as multi-benefit drinkable Yogurt to enhance gut health and offer additional functional benefits such as improved immune support and increased energy levels. Multi-benefit drinkable Yogurt is a category of yogurt products formulated to provide various health benefits beyond basic nutrition. These products typically combine the creamy texture and tangy flavor of Yogurt with additional ingredients to enhance specific aspects of health and wellness. For instance, in March 2022, Danone, a France-based food and beverage company, launched Activia+ Multi-Benefit Drinkable Yogurt. Activia+ is a drinkable yogurt product packed with billions of live and active probiotics to help support gut health. The yogurt drinks have 9 grams of sugar and 70 calories and come in three flavors, strawberry, peach, and raspberry.
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Major Key Players of the Market:
Nestle S.A., Groupe Lactalis SA, Danone Inc., General Mills Inc, Royal FrieslandCampina N.V, Arla Foods amba, Meiji Holdings Co Ltd., Gujarat Cooperative Milk Marketing Federation Ltd., Valio Ltd., Schreiber Foods Inc., Chobani Global Holdings LLC, Stonyfield Farm Inc., Kri Kri S.A. Dairy Industry, Wallaby Yogurt Company Inc., Noosa Yoghurt LLC, Straus Family Creamery, Marmum Dairy Farm LLC, Dana Dairy Group, Juhayna Food Industries, Fage International S.A., Clover Sonoma, Brown Cow Yogurt, Parmalat S.p.A, Siggi’s Dairy LLC, Yoplait USA Inc.
Drinking Yogurt Market 2024 Key Insights:
• The drinking yogurt market size is expected to see strong growth in the next few years. It will grow to $63.28 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.
• Rising Dairy Consumption Fuels Growth In Drinking Yogurt Market
• Innovative Developments In Millennial Immunity With Activia+ Multi-Benefit Drinkable Yogurt
• Asia-Pacific was the largest region in the drinking yogurt market in 2023
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This release was published on openPR.
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