“The Business Research Company recently released a comprehensive report on the Global Skim 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 skim yogurt market size has grown rapidly in recent years. It will grow from $5.66 billion in 2023 to $6.28 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to increased growth of the fast food industry, increased consumer obesity, rising availability of a variety of flavors, increased retail sales, growth of online food ordering and delivery services, rising demand for functional food and beverage products.
The skim yogurt market size is expected to see rapid growth in the next few years. It will grow to $9.57 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to increasing consumption of dairy food, increasing prevalence of chronic diseases, increasing consumption of yogurt products, increasing e-commerce websites, increasing consumption of low-fat dairy products, and increasing prevalence of obesity. Major trends in the forecast period include innovative product launches, developments in the manufacturing sector, advancements in technology, the development of new flavors and products, and the integration of plant-based skim yogurt.
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Market Drivers and Trends:
The increasing consumption of dairy products is expected to propel the growth of the skim yogurt market going forward. Dairy foods refer to products made from the milk of mammals, such as cows, goats, and sheep. Dairy product consumption is rising due to increasing awareness of their nutritional benefits and the growing demand for protein-rich foods. Dairy products are essential in skim yogurt, providing the base for its low-fat, high-protein, and calcium-rich nutritional profile. For instance, in November 2023, according to the Foreign Agricultural Service, a US-based department of agriculture overseas, the consumption of milk for factory use rose to 5.847 million metric tons (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 increasing consumption of dairy products drives the skim yogurt market.
Major companies operating in the skim yogurt market are developing innovative products such as Fruit and Yogurt Smoothie Pouches to cater to the growing demand for convenient, on-the-go dairy snacks. Fruit and Yogurt Smoothie Pouches are innovative products that combine the creamy goodness of yogurt with the fruity flavors of real fruits and are packaged in convenient pouches for easy consumption. For instance, in February 2022, Outshine, a Canada-based brand in the frozen fruit and vegetable category, launched its Blended Fruit and Yogurt Smoothie Pouches, a nutritious on-the-go snack made with real fruit and skim yogurt. These pouches are free from artificial colors, flavors, and sweeteners and are a good source of protein and calcium. Additionally, Outshine Fruit and Yogurt Smoothie Pouches are shelf-stable, making them ideal for school lunches, car rides, and taking to work.
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Major Key Players of the Market:
Nestle S.A., Unilever PLC, Coca-Cola Company, Groupe Lactalis S.A., Danone S.A., Kraft Heinz Company, General Mills, Arla Foods Group, Fonterra Co-operative Group Limited, Juhayna Food Industries, Meiji Group, Parmalat S.p.A., Yakult Honsha, Morinaga & Company Ltd., Chobani, Clover S.A., Müller Milk & Ingredients, Sameer Agriculture Livestock Limited, Yoplait, Ultima Foods Inc., Jesa Farm Dairy Ltd., Chi Limited
Skim Yogurt Market 2024 Key Insights:
• The skim yogurt market size is expected to see rapid growth in the next few years. It will grow to $9.57 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%.
• Rising Dairy Consumption Fuels Growth In Skim Yogurt Market
• Innovative Fruit And Yogurt Smoothie Pouches Meet Growing Demand For Convenient Dairy Snacks
• North America was the largest region in the skim yogurt market in 2023
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This release was published on openPR.
