SAN FRANCISCO, March 31, 2020 /PRNewswire/ -- The global
flavored yogurt market size is expected to reach
USD 59.2 billion by 2027,
expanding at a CAGR of 6.9% in the forecast period,
according to a new report by Grand View Research, Inc. The market
is driven by the changing dietary habits and increasing health
awareness among consumers. The consumption of the flavored yogurt
has been on the rise in the recent past years owing to the factor
such as increasing disposable income of middle-age group. Growing
popularity of flavored yogurt as dessert option which acts as a
ready to eat food item and a rising demand from developing
countries are considered to be major factors fueling the growth in
the market. The flavored yogurts can be classified into drinkable
and spoonful ranges wherein fruit flavored yogurts such as
strawberry, blueberry, raspberry are possessing high competition to
the ice-creams or desserts. Health issues such as high calorie, fat
can be resolved by the low-fat flavored yogurts as a good
alternative option for ice-creams and desserts.
Key suggestions from the report:
- In terms of revenue, the strawberry segment is projected to
ascend at a CAGR of 7.6% over the forecast years
- The convenience stores segment accounts for more than 30.0%
flavored yogurt market share in 2019
- Europe is one of the
fastest growing regions and it is growing at a significant 7.0%
CAGR due to growing popularity of flavoured yogurt, Greek yogurt as
a diet food item, and increasing disposable income especially in
France and Germany.
Read 80 page research report with ToC on "Flavored Yogurt
Market Size, Share & Trends Analysis Report By Flavor
(Strawberry, Blueberry, Vanilla, Peach), By Distribution Channel
(Supermarket, Convenience Stores, Online), By Region, And Segment
Forecasts, 2020 - 2027" at:
https://www.grandviewresearch.com/industry-analysis/flavored-yogurt-market
Strawberry accounts for the majority of share in the
segmentation based on flavor. It accounted for more than 33.0% of
the market share in 2019 and is witnessing a significant growth
over the period of time. Increasing consumer's affinity for fruit
flavored yogurt is led by the berry fruits such as strawberry,
blueberry, and raspberry. These fruits flavored yogurt possesses
health-related attributes like light and fat-free elements, which
is expected to drive the overall market.
Supermarkets is found to be the market dominator in the segment
based on distribution channel and accounts for more than 45.0% of
the market share in 2019. With larger access to customer base,
major players focus on retailing their food items through
supermarkets. The convenience stores segment is also expected to
have significant market growth in the forecast period. The segment
is mainly driven by the convenient shops and grocery shops where
dairy products are easily available in variety of flavors. The
online segment is also expected to grow moderately during the
forecast period. According to American Pantry Study in 2015, 37.0%
consumers use their mobile for shopping. This, in turn, will
influence the growth of the overall flavored yogurt market.
Europe held the leading market
share of more than 30.0% in 2019. The rapid changes in dietary
habits along with increase in disposable income is among the
prominent factor for the region to dominate. Asia pacific is found to be the fastest
growing region and is witnessing a significant CAGR of more than
7.8% CAGR in the forecast period. The growing popularity of the
flavored yogurt and shift in consumer behaviors style with dietary
habits and willingness to spend more for high quality product is
impacting the market to grow faster in the forecast period.
Grand View Research has segmented the global flavored yogurt
market on the basis of flavor, distribution channel, and
region:
- Flavored Yogurt Outlook (Revenue, USD Million, 2016 -
2027)
-
- Strawberry
- Blueberry
- Vanilla
- Peach
- Others
- Flavored Yogurt Distribution Channel Outlook (Revenue, USD
Million, 2016 - 2027)
-
- Supermarket
- Convenience Stores
- Online
- Others
- Flavored Yogurt Regional Outlook (Revenue, USD Million, 2016
- 2027)
-
- North America
-
- Europe
-
- Asia Pacific
-
- Central & South
America
-
- Middle East & Africa
-
Find more research reports on Consumer F&B
Industry, by Grand View Research:
- Pet Supplements Market – Key factors driving the
market include changes in socio-economic aspects and inclination
towards the humanization of animals.
- Cannabis Beverages Market – The global cannabis
beverages market size was valued at USD
901.8 million in 2018 and is expected to expand at a CAGR of
17.8% from 2019 to 2025. Rising demand for wellness drinks is
anticipated to drive the growth.
- Powdered Sugar Market – Increasing consumption of
confectionery and bakery food products is the key factor propelling
the market growth.
Gain access to Grand View Compass, our BI enabled
intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
Contact:
Sherry
James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter
Logo:
https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg