The global Yogurt Powder market is projected to reach USD 411.30 million by the end of 2026, growing at a CAGR of 9.9% during 2019-2026.
Factors such as a rise in demand and awareness among the population for nutritional and health benefits for fat-free products and growing interest of consumers towards the intake of healthier food and nutrition are expected to fuel the demand for yogurt powder. In addition, yogurt powder is widely used in the food and beverage segment and growth in the standard of living and disposable income will further drive the demand of yogurt powder during the forecast period.
Based on Product type, Skimmed Yogurt Powder Market segment is anticipated to lead the market during 2019-2026
Skimmed Yogurt Powder Market segment is expected to dominate the market in 2026 due to the rise in demand for low-fat content products throughout the world. Besides, an increase in the number of people facing health issues such as diabetes and weight loss are shifting consumers towards fat-free products to avoid health problems will in turn drive the demand for skimmed yogurt powder.
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Based on application, Food & Beverages segment accounts for the largest market share among all other segments in 2018 and is predicted to witness significant growth rate during the forecast period due to usability of yogurt powder in various food and beverages including dry mixes, energy drinks, snacks, dairy-based, salad dressings and others. The usage of yogurt powder in Cosmetic and personal care segment is also increasing because consumers are shifting towards products made from natural ingredients.
Based on the method, the Spray drying method holds the largest market share in 2018 due to the maintenance of nutritional characteristics of yogurt powder and higher shelf life as compared to other processes in the market.
Based on geography, Europe held the largest market share in the market in 2018 due to 2019-2026, owing to high consumer acceptability due to its health benefits, distinctive taste, and texture. North America is also key markets for yogurt powder and is expected to witness relatively slower growth than Europe. Asia-Pacific is projected to grow at the fastest CAGR% during 2019-2026 due to an increase in awareness of yogurt powder among end users coupled with inclination of consumers towards natural ingredients. In addition, the availability of raw materials and the low cost of setting up the production units are the key factors contributing to the yogurt powder market in the region.
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The global Yogurt Powder market has been segmented based on the product, method, application, and key geographies. Based on the product, the global yogurt powder market has been segmented into skimmed yogurt powder market, semi-skimmed yogurt powder, and whole yogurt powder. Based on application, the global yogurt powder market has been segmented into Food & Beverages, Bakery & Confectionery, Cosmetics & Personal Care and Others. Based on the method, the global yogurt powder market has been segmented into Spray Drying, Freeze Drying, Drum Drying, and Microwave Vacuum Drying.
The research report “Global Yogurt Powder Market” provides an in-depth analysis of the Yogurt Powder market, globally, based on the product, method, application and major geographies for the forecast period from 2019 to 2026. The report highlights the major market drivers fuelling the growth as well as challenges faced by the market participants. The research report provides market size and forecast for the yogurt powder market. The report also analyses the competitive landscape, major players, and their strategies in 2019. The competitive landscape section of the report captures and highlights the recent developments in the market.
Key questions answered in this research report:
1- At what pace is yogurt powder market growing, globally? What will be the growth trend in the future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints over the coming years?
3- What are the regional yogurt powder market revenue and forecast breakdowns? Which are the significant regional revenue pockets for growth in the yogurt powder market?
4- What are the various application areas and how they are poised to grow?
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