LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global flavored yogurt market to grow to USD 81.78 billion by 2021, at a CAGR of close to 9% over the forecast period, according to their latest report.
The research study by Technavio on the global flavored yogurt market for 2017-2021 provides a detailed industry analysis based on the product type (frozen flavored yogurt and standard flavored yogurt), distribution channel (hypermarkets and supermarkets, convenience stores, and food and drink specialists), and geography (APAC, the Americas, Europe, and MEA).
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| The emerging trend of consuming healthy foods has led to an increase in the sales of flavored yogurt. Also, the presence of probiotics and other elements, like calcium, magnesium, has fueled the demand for yogurt, and concurrently the demand for flavored yogurt as people can choose flavors as per their taste and preferences. |
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Technavio analysts highlight the following three factors that are contributing to the growth of the global flavored yogurt market:
- Innovative packaging
- Health benefits of yogurt
- Launch of new flavors
Innovative packaging
“Modern consumers provide great importance to the design and packaging of products, which is encouraging manufacturers to work towards introducing better-packaged products to attract customers and increase their market share,” says Atul Kumar, a lead analyst at Technavio for food research.
Vendors in the flavored yogurt market are focusing on the preferences of targeted consumers and making the product more user-friendly. Also, new interesting flavors with convenient packaging features, such as adding a small spatula in an easy-to-handle container, is drawing the attention of more consumers.
Health benefits of yogurt
Yogurt is made by the bacterial fermentation of milk and contains bacteria which help in maintaining a healthy gut. Additionally, some yogurts contain probiotics, which are good for the digestive system. Vendors of flavored yogurts also ensure to add a considerable measure of calcium (a mineral that is vital for teeth and bones), and other key supplements that enhance bone health such as protein, potassium, phosphorus, and vitamin D. Flavored yogurts with extracts of real fruits provide the benefits of both. The availability of different flavors of yogurt coupled with its numerous health benefits encourages the consumption of yogurt.
Launch of new flavors
Manufacturers are experimenting with the addition of flavoring agents ranging from fruits to ingredients such as cakes and biscuits with yogurt. As a result, this category of yogurt includes a wide range of flavored yogurts offered by vendors such as Nestlé and Danone.
“The fruit flavored yogurt category has a wide range of offerings, with the most popular ones being strawberry and blueberry yogurts. However, it is imperative for vendors to keep abreast of the changing consumer tastes to retain market shares,” says Atul.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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