NEWARK, Del, June 26, 2024 (GLOBE NEWSWIRE) -- The global yogurt powder market value is forecast to total USD 333.3 million in 2024 and USD 642 million by 2034. Global demand for yogurt powder is anticipated to increase at a CAGR of 6.8% during the forecast period.
Sales remain particularly high for regular yogurt powder owing to its high nutritional content. The target segment accounted for a revenue share of 46% in 2023 and is set to experience robust growth through 2034.
Several factors are expected to stimulate the growth of the yogurt powder market during the assessment period. These include changing dietary preferences, growing demand for healthy and convenient snack options, and rising health and wellness trends.
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Yogurt powder is gaining wider popularity, both among manufacturers and consumers, due to its convenience and longer shelf life. This, in turn, is set to play a key role in boosting market growth during the assessment period.
Increasing health and wellness trends are having a positive impact on yogurt powder sales globally. Consumers are showing interest in yogurt and yogurt-based products due to high nutritional content and potential health benefits.
Another prominent factor boosting sales growth is the escalating demand for functional foods. Today, consumers are constantly seeking functional foods that offer multiple health benefits. Yogurt power, fortified with probiotics and other essential nutrients, caters to this demand.
How is Increasing Awareness about Health Enabling Yogurt Powder Sales?
Consumers around the world have become increasingly aware about health and wellness. This has remain one of the chief drivers of the yogurt powder market. The probiotic nature of yogurt powder is considered good for digestive system and overall health. This has resulted in its increasing application in the food and beverages processing industry.
Yogurt powder is considered a high source of potassium, vitamin D phosphorous, protein, and calcium. Certain studies have even stressed on its role in the prevention of osteoarthritis. As per the International Osteoporosis Foundation (IOF), approximately 2oo million people around the world are affected by this condition. In fact, nearly 30% of premenopausal women in the United States and Europe often complaints of osteoarthritis
Key Takeaways from Market Report:
- The global market is forecast to reach USD 642 million by 2034, registering a 6.8% CAGR.
- Based on type, the regular segment is set to record a CAGR of 6.6% through 2034.
- By flavor, the plain segment dominated the industry with a share of 63% in 2023.
- Western Europe's yogurt powder market is expected to reach US$232 Million by 2033, growing at a steady 7.8% CAGR from 2023's US$110 Million market
- China will likely record a CAGR of 7.4% between 2024 and 2034.
- Yogurt Powder Japan Market expected to hit worth US$ 11.3 million at CAGR of 8% during forecast period 2023 to 2033
- Sales in the United States are projected to total USD 114.2 million by 2034.
- Yogurt Powder Korea Market expected to hit worth of US$ 24.3 million at CAGR of 8% during forecast period of 2023 to 2033
“Increasing consumer awareness about the potential health benefits of yogurt and yogurt-based products globally is anticipated to create growth opportunities for the yogurt powder industry during the assessment period.” says Nandini Roy Choudhury, Client Partner at Future Market Insights.
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Who is Winning?
The yogurt powder industry has a diverse and dynamic competitive landscape, with leading players like Nestle S.A., Danone S.A., General Mills, Inc., and Lactalis Group holding significant shares.
Top players are constantly innovating to create new varieties added with functional ingredients like vitamins, probiotics, and minerals. Plant-based yogurt powders are gaining momentum in the market amid soaring demand from vegans.
The ongoing clean label trend is prompting companies to shift from artificial flavors and preservatives toward natural ingredients. Similarly, strategies like acquisitions, mergers, partnerships, new facility establishments, and joint ventures are becoming prevalent.
Leading Yogurt Powder Brands
- Nestlé S.A.
- Danone S.A.
- General Mills, Inc.
- Yakult Honsha Co., Ltd.
- FrieslandCampina N.V.
- The Kraft Heinz Company
- Lactalis Group
- Kerry Group plc
- Morinaga Milk Industry Co., Ltd.
- Chr. Hansen Holding A/S
- Chobani, LLC
Industry Updates:
- In December 2023, Ireland-based Kerry Group announced the acquisition of Lactase Enzymes Business from Novozymes A/S and Chr. Hansen Holding A/S.
- Lactalis Ingredients, a prominent France-based producer and supplier of dairy ingredients, announced its participation in Africa Food Manufacturing event held in Cairo between 26 and 28 May 2024.
What is the Scope for Research & Development in Yogurt Powder Market?
Considerably investment is made in research and development facilities. This is either to recover the manufacturing costs or to make innovative products for the consumers. Consumers are always keen on seeing new innovative products on supermarket shelves or convenience stores. The same trend has been observed for yogurt powder.
For instance, research and development initiatives led to the launch of freeze-dried yogurt powder. This type is often used for making hummus, frozen and drinkable yogurt, and other food products. In fact the increasing use of freeze dried yogurt powder in baby food has emerged as a crucial driver of the market.
Want More Insights?
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global yogurt powder market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights based on type (regular, low fat, and non fat), flavor (plain and flavored), flavor (sachets/pouches, cans/jars, and bulk packaging), application (food and beverage industry, nutraceuticals and dietary supplements, and cosmetics and personal care products), and distribution channel (supermarkets and hypermarkets, convenience stores, online retailing, specialty stores, and others) across various regions.
Report Preview: https://www.futuremarketinsights.com/reports/yogurt-powder-market
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI’s related ongoing Coverage in Food and Beverage Domain:
The global yogurt market is projected to reach a valuation of US$ 79,147.2 million by 2033 from US$ 44,808.5 million in 2023. It is set to expand rapidly at a CAGR of 5.9% in the estimated time frame between 2023 and 2033.
The vegan yogurt market is set to thrive at an average CAGR of 5.8% during the forecast period. The market holds a share of US$ 6.7 billion in 2023 while it is anticipated to cross a value of US$ 11.7 billion by 2033.
The global Greek yogurt market is expected to reach a market size of US$ 7,851.8 million in 2023 and is projected to rise at a CAGR of 7.1% to reach US$ 14,991.9 million by 2033. Earlier, from 2018 to 2022, this market expanded at a CAGR of 6.6%.
ccording to Future Market Insights research, during the projected period, the Global Non-GMO Yogurt market is expected to grow at a CAGR of 15.5 %.
According to the research of Future Market Insights, the market for Savory Yogurt is anticipated to expand at a CAGR of 5.7% over the forecasted time period. According to projections, the industry would be worth US$ 1,811.2 Million by 2032, up from US$ 1,040.4 Million in 2022.
The probiotics yogurt market size is anticipated to rise from US$ 26,543 million in 2023 to US$ 58,092.8 million in 2033.
The global citrus yogurt market garnered a market value of US$ 2,202 million in 2023 and is expected to accumulate a market value of US$ 3,403.0 million by registering a CAGR of 4% in the forecast period 2023 to 2033.
The non-dairy yogurt market size is estimated to reach a valuation of US$ 8,009.37 million in 2024. The trend towards vegan and vegetarian diets has led to an increased demand for plant-based food products, including non-dairy yogurt.
After a detailed analysis of the food and plant-based preservative market, FMI recently published a new report on the frozen yogurt market.
The global drinkable yogurt market is expected to reach a valuation of USD 50 Billion by the end of 2022, accelerating with a CAGR of 6.5% by 2022 to 2032, to reach a value of USD 94 Billion by 2032.’
The global high protein yogurt market is expected to reach a market valuation of US$ 36.6 billion in the year 2023. Based on the survey reports, the global market value progressed at a CAGR of roughly 2.6% over the last half-decade from 2018 to 2022.
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