Yogurts Market overview:
The Yogurts Market is anticipated to grow at a CAGR of 7.5% from 2022 to 2027, from an estimated 11.18 billion USD to 14.59 billion USD in 2027.
A food known yoghurt is created when milk is fermented by microorganisms. It may be taken in a variety of ways, such as a beverage, dessert, snack, protein-rich sports drink, food supplement, and more. In addition to supporting a healthy digestive system, it also reduces the danger of type 2 diabetes, guards against colon cancer, and strengthens the immune system. As more people become aware of yogurt's health advantages, the industry is growing.
Yogurts Market Drivers and Restraints:
The yoghurt market is expected to expand as low-fat, low-sugar sweets becoming more and more popular. Macroeconomic variables that favourably affect the worldwide yoghurt industry include children's growing need for cooling ice cream substitutes and consumers' growing awareness of their own health. In addition, the availability of yoghurt through a number of online and offline retail channels, as well as its release in a variety of exotic flavours including blueberry, raspberry, mango, and strawberry, are boosting global sales. Additionally, major firms are investing heavily in cutting-edge packaging options in the industry.The expansion of the retail sector across various geographies and the reduction of lactose content for lactose-intolerant persons who wish to eat dairy products are other market development drivers. Ones of the main organisations encouraging yoghurt consumption and raising awareness include Yakult, Danone, Nestle, and Chobani. On the other hand, growing yoghurt consumption in emerging nations is anticipated to open up a wide range of prospects for the growth of the worldwide market due to increasing disposable income and improved health awareness.
However, one of the main reasons posing a threat to the yoghurt market over the projection period is the increased usage of artificial chemicals and components.
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The report is segmented as:
Yogurts Market is segmented on the basis of By Product Type, By Packaged Containers.
By Product Type:
• Icelandic Yogurt.
• Australian Yogurt.
• Traditional Yogurt.
• Greek Yogurt.
• Kids Yogurt.
• Non-Diary Yogurt.
• Others.
By Packaging Containers:
• Yogurt Tubes.
• Yogurt Cups.
• Yogurt Pouches.
• Yogurt Bottels.
Geographical Segmentation:
Yogurts Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the rest of the world.
Europe is seen as the market's second-largest contributor after North America. Additionally, the area is anticipated to become a mature market with steady growth throughout the ensuing years. In addition to offering low-fat goods, the region's yoghurt industry may expand due to the introduction of additional flavor options.
China is aiming to dominate the local market in emerging countries in the Asia-Pacific region, followed by India. Japan is also expected to have had substantial development over the analyzed period. Particularly, it is predicted that the increase in yoghurt consumption in countries like China and Japan would support the Asia Pacific region's yoghurt industry throughout the projection period.
Impact of COVID-19 on the Market:
Due to COVID-19 limits on physical and mortar retailers, yoghurt sales initially decreased. Major Companies are showing interest towards an e-commerce and online marketing, with an effort to boost their capital position and reach customers all over the Globe. A major player improved the contents of their yoghurt goods by implementing natural ingredients, generating them as cholesterol-free, and introducing vegan variants with no additional additives or flavourings as a result of the pandemic, which also encouraged customers to look out for their immunity-boosting goods as well as other important that provide health benefits.
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