Fortified Yogurt Market Insight
The Global Fortified Yogurt Market is expanding rapidly, witnessing a massive demand. Fortified yogurt is creating quite a buzz in the market, lately. Due to its health benefits, fortified yogurt is increasingly becoming popular among consumers. Growing health consciousness among the rapidly increasing population is a crucial factor in driving market growth predominantly. Moreover, rising consumers inclination is another trend fostering the growth of the market.
According to an eminent research firm – Market Research Future (MRFR), the global Fortified Yogurt Market is projected to reach USD 10 BN by 2024. In its recently published analysis, MRFR also asserts that the market would register a CAGR of approximately 6.5% throughout the forecast period (2019–2024). Changing consumer preferences and increasing popularity for fortified yogurt is propelling the growth of the market.
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With the massive advancement in technologies, food processing techniques have evolved dramatically over the period. Processing techniques, such as spray drying, ultra-heat treatment, and pasteurization hamper essential nutrients in dairy products. Therefore, the need to reload the lost nutrients in processed yogurt is boosting the growth of global fortified yogurt market. Additionally, augmenting demand for functional food products among health-conscious populaces fuel market growth.
Major Players:
Players leading the global Fortified Yogurt Market include Ultima Foods Inc. (Canada), Danone Group SA (France), Chobani, LLC (US), Nestle (Switzerland), Sodiaal S.A. (France), General Mills (US), Koko Dairy Free (Indonesia), Kraft Foods (US), Yakult (Japan), and Vinamilk (Vietnam), among others.
Industry/Innovation/Related News:
September 16, 2019 —- Yogurtland (the US), an international franchise chain of frozen yogurt restaurants announced its partnership with DoorDash Inc. (the US), a leading on-demand food delivery service to make it easier for its customers to have access to its offerings. Yogurtland offers non-fat, and low-fat yogurt flavors, ice cream, and non-dairy and no sugar added choices. Its Fruit flavors are fortified with Vitamin C for an extra boost. Yogurtland has raised the standards for flavors and quality to new heights and much to the delight of millions of fans.
Global Fortified Yogurt Market – Segments
The report is segmented into three market dynamics to widen the scope of understanding,
By Fortifying Ingredients : Vitamins, Minerals, and Probiotics, among others.
By Distribution Channel : Store-Based (Convenience Stores, Supermarkets & Hypermarkets, others) and Non-Store-Based, among others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
Global Fortified Yogurt Market – Regional Analysis
North America dominates the global Fortified Yogurt Market with the largest market share. The surging demand for fortified functional food products drives the growth of the regional market. The growing number of takers of yogurt in the region acts as a key tailwind to the growth of the market. Besides, the presence of large innovative players and high per capita income influence the regional market growth, positively.
Europe is the second-largest region in the global Fortified Yogurt Market. Growing markets in the region led by the rising disposable income and increasing health-conscious populace attribute to the growth of the regional market.
The Asia Pacific Fortified Yogurt Market is emerging as a promising market globally. Factors such as the rising awareness towards fortified food products and rapid advancements in fortification technologies boost the regional market growth. Moreover, raw material advantages and cost-competitive labor force help to increase the numbers of production plants in the region, attracting foreign investors. Besides, growing markets in emerging economies such as China, India, Japan, and Australia, contribute to the regional market, hugely.
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Global Fortified Yogurt Market – Competitive Analysis
The Fortified Yogurt Market appears to be highly competitive due to the presence of many players. Owing to the low product differentiation and availability of a wide range of similar products; players focus on reducing the brand recall of their products among consumers through effective marketing communications. Demonstrating high growth potential, the market is expected to attract several new entrants during the anticipated period. Resultantly, intensifying the competition further.
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