Yogurt drinks: Key market research findings
- Preference for stevia-based yogurt drinks
- New varieties and flavors
Technavio has released a new market research report on the global yogurt drinks market, which is expected to grow at a CAGR of 8% between 2016 and 2020. Vendors are increasingly investing in milk sources and cattle ranches to maintain a steady supply of milk, the primary raw material for this market. For instance, during May 2013, Danone and Mengniu entered into a strategic partnership to produce and distribute chilled yogurt products in China. APAC leads the global market for yogurt drinks, accounting for 39% of the total market share. The rising health awareness and fitness trend among consumers and the launch of new products and flavors are the primary drivers for the market growth in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the market is witnessing huge demand for yogurt drinks based on stevia. Consumers have started to opt for drinks that have more natural ingredients, owing to the increase in health and wellness trend. Powerful’s yogurt protein drink contains stevia and is available in four flavors such as vanilla, maple, chocolate, and blueberry. Meiji yogurt R-1 is a low-calorie and low-sugar yogurt sweetened with stevia and contains 44% reduced sugar and 33% reduced calories,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
The introduction of new products and flavors by vendors has also contributed to the market growth. Yogurt makers are introducing a variety of flavors such as mango, pineapple, chocolate, vanilla and pomegranate to cater to the needs of consumers. For instance, during 2015, Blue Hill introduced its drinkable savory yogurt, which is available in different varieties such as butternut squash, beetroot, carrot, tomato and sweet potato. During 2014, there were around 250 new yogurt products launched worldwide, including yogurt drinks.
The key vendors in the global yogurt drinks market include Danone, Fonterra, General Mills, Muller, Nestle, and Yakult. This market is dominated by Danone, which has a large portfolio of both spoonable yogurts and yogurt drinks. Yogurt drinks are gaining popularity among APAC and the Middle East countries, and several regional players are active in this region.
A more detailed analysis is available in the Technavio report, Global Yogurt Drinks Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Yogurt Market 2014-2018
- Greek Yogurt Market in the US: Trends, Size, and Forecast 2015-2019
- Frozen Yogurt Market in US 2015-2019
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