Yogurt is a dairy product that is made by the bacterial fermentation of milk. All types of milk, including skim milk (fat-free) and whole milk (full-fat) are used in the production of yogurt. Furthermore, yogurt contains probiotics—which are a family of healthy bacteria with live strains—which make it an extremely healthy dairy product. Products such as Greek yogurt contain beneficial nutrients such as iodine, which helps maintain weight of an individual. Furthermore, yogurts are widely available in a variety of flavors such as strawberry, mango, and raspberry. Healthier yogurt options such as those with low fat and low lactose levels are expected to gain traction, owing to the increasing health conscious among customers.
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In terms of value, Europe is expected to hold the dominant market, followed by North America. The drinking yogurt segment is gaining significant traction in the European region, which in turn is expected to result in the growth of the yogurt market in Europe. According to the EU, in 2015, the drinking yogurt category recorded highest number of product launches, accounting for 41.3% of all dairy product launches in Germany, Italy, U.K., Spain, and France.
In terms of consumption, Asia Pacific holds the fastest-growing market for yogurt. Emerging economies such as China and India are expected to hold a dominant position in this market, followed by Japan in the Asia Pacific region. The market in the region is expected to witness significant growth, owing to increasing number of international brands expanding sales in the region. For instance, popular global frozen yogurt brands such as the U.S.-based Red Mango, Canada-based Kiwi Kiss, South Korea's Yogurberry, have entered into the yogurt market in Indian, owing to the high untapped potential in the country.
Yogurt Market Taxonomy:
On the basis of product type, yogurt market is segmented into:
On the basis of distribution channel, yogurt market is segmented into:
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Some of the key players operating in the global yogurt market are General Mills, Kraft Foods Group Inc., Chobani LLC, Sodiaal S.A., China Mengniu Dairy, Groupe Danone, Yakult Honsha Co. Ltd, and Nestle SA.
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