In this report, Technavio covers the market outlook and growth prospects of the global yogurt drinks market for 2016-2020. Based on distribution channel categories, the market is divided into different segments, including hypermarkets and supermarkets, convenience stores, food and drink specialty stores, and others.
Technavio’s research study segments the global yogurt drinks market into the following regions:
- North America
APAC: Largest market for yogurt drinks
The report study evaluates APAC as the largest market for yogurt drinks with a market share of around 39% in 2015, which is expected to rise close to 45% by 2020. Rising consumption of yogurt drinks in countries such as China and Japan is leading to the increasing demand for yogurt drinks in the region. Rising health awareness and fitness trends among consumers is also helping the yogurt drinks market to grow as consumers are demanding more healthy and natural products.
Yogurt drink manufacturers are investing heavily in dairy farms to ensure a steady supply of milk for the production of yogurt drinks. For instance, Yili Group entered into a strategic alliance with Sterilgarda Alimenti, an Italian dairy firm, and also signed a memorandum of understanding with Dairy Farmers of America to ensure a smooth supply of milk.
“The market has also witnessed the launch of new products and flavors such as Benecol yogurt drinks in South Korea. In March 2015, Mother Dairy announced its plans to set up 250 vending machines for lassi, a yogurt-based drink popular in India. Also, the increasing popularity of yogurts have prompted Starbucks to launch fruits on top yogurt Frappuccino in Japan in April 2015,” says G Vijay Sarathi, Technavio lead non-alcoholic beverages research expert.
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Yogurt drinks market in Europe projected to decline in revenue by the end of 2020
In terms of revenue, Europe had a share of over 32% in 2015 but this figure is expected to decline to 28% in 2020. The decline in market share is due to the rising popularity of yogurt drinks in other regions, especially APAC. Economic conditions prevailing in certain European countries such as Spain and Greece can be a challenge to the growth of yogurt drinks as consumers will be conscious about the expenditure. Also, the rising popularity of coconut water in European countries such as the UK can also pose a serious challenge to the growth of the yogurt drinks market.
The European market however is witnessing several new product launches with yogurt drinks, accounting for almost 40% of the total new product launches in the food and beverage sector in 2013. Most of the products launched contain a higher amount of proteins than normal yogurt such as Vifit high protein yogurt drink launched by FrieslandCampina in 2015. “FrieslandCampina launched its Optiwell yogurt drink in the UK in September 2015 and also rolled out a marketing campaign worth USD 39.4 million along with the launch of the product,” adds Vijay.
Introduction of new products and new flavors driving the popularity of yogurt drinks among consumers in North America
The yogurt market in North America is dominated by spoonable yogurts, however the demand for yogurt drinks is on the rise. Manufacturers are coming up with new products and new flavors to increase the popularity of yogurt drinks among consumers. In September 2015, Temple Turmeric launched Holiday Spiced Lassi Cultured Blend based on traditional ayurvedic recipes in the US. In April 2015, Karoun Dairies launched its Blue Isle Mediterranean yogurt drinks, which are available in four flavors being plain, strawberry, blueberry, and pomegranate.
Some of the top vendors of the global yogurt drinks market highlighted in the report are:
- General Mills
- Unternehmensgruppe Theo Müller
Browse Related Reports:
- Global Organic Drinks Market 2016-2020
- Greek Yogurt Market in the US: Trends, Size, and Forecast 2015-2019
- Frozen Yogurt Market in US 2015-2019
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