LONDON--(BUSINESS WIRE)--The global yogurt market research report by Technavio predicts the market to post a CAGR of more than 5% during the period 2019-2023.
Supermarkets and hypermarkets are the largest sales channels for yogurt. Thus, the growth in the number and penetration of these modern retail channels has helped in making yogurt more accessible and available to a broader consumer base. The market vendors have been collaborating with large modern retail chains for the launch of their products in supermarkets and hypermarkets, thereby gaining more visibility among customers.
As per Technavio, the introduction of new flavors and product innovations will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global yogurt market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global yogurt market: Introduction of new flavors and product innovations
To enhance their appeal among consumers globally, vendors have been introducing new and healthy formulations of yogurt with innovative flavors combining toppings of fruits, nuts, and other savory snacks. The vendors have also been diversifying from traditional yogurt offerings. They are introducing flavored yogurt snacks to differentiate their offerings, beat the competition, and promote yogurt as an on-the-go snack.
“Many vendors are taking the initiatives to improve the taste and variety of their products, which will encourage consumer uptake. Vendors are also reinventing the dairy experience by introducing dairy-free yogurts to cater to the lactose-intolerant demographic, with the use of alternatives such as coconut and soy milk,” says a senior research analyst at Technavio.
Global yogurt market: Segmentation analysis
This yogurt market analysis report segments the market by product (spoonable yogurt and drinkable yogurt) and geography (APAC, Europe, MEA, South America, and North America).
The spoonable yogurt segment held the largest yogurt market share in 2018. The increasing popularity of Greek yogurt has been one of the major factors driving the growth of spoonable yogurt segment.
APAC accounted for the highest share of the market in 2018. The major factors driving the market in this region are the growing number of product launches, the rise in the number of organized retail outlets, preference for a healthy lifestyle, and increasing popularity of flavored yogurt beverages.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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