Probiotic yogurt sales closed in on US$ 20 billion in 2018, which are likely to increase at a healthy pace over the coming years. A new research intelligence report of Future Market Insights (FMI) envisages over 6% Y-o-Y growth in the probiotic yogurt market revenues, in 2019. Spoonable probiotic yogurt continues to attract more than 3/4th of total revenues, when compared to drinkable probiotic yogurt products.
Increasing being perceived as a healthy snack owing to the presence of a balanced source of proteins, carbohydrates, fats, minerals, and vitamins, probiotic yogurt is enjoying billowing sales prominently because of the gut-friendly flora that plays a crucial role in healthy digestion. The rich nutritional profile of probiotic yogurt prominently supports weight loss, blood sugar and cholesterol regulation, and bone density improvement.
While these health benefits continue to elevate the scope of penetration for probiotic yogurt and similar products, the widespread availability in a multitude of flavors is currently among the most significant factors boosting probiotic yogurt sales in the market. Innovations such as mix fruit yogurt, and high-fiber or high-protein yogurt are likely to further translate into increase in the popularity of probiotic yogurt among health-conscious population.
Sales of Plant-based Probiotic Yogurt to Proliferate
A majority of probiotic yogurt consumption is animal-based, according to the report. However, with the trends of vegetarianism and veganism significantly influencing sales of various F&B products, it is highly likely that the sales of probiotic yogurt will remain impacted by these trends. The report suggests that the demand for plant-based probiotic yogurt will rise in forthcoming years, on the back of robust popularity of animal-based probiotic yogurt.
For More Detailed Insights on Probiotic Yogurt Consumption Scenario
According to Genetics Home Reference, after infancy, around 65% of the global human population has a decreased ability to digest lactose, which is a more commonplace condition across East Asia and Western Africa. Key players in the probiotic yogurt market are thus focusing on developing plant-based probiotic yogurt products to capture the expanding lactose-intolerant as well as vegan population.
R&D to Remain Key Focus Area for Manufacturers
In the backdrop of intense competition among leading players active in the probiotic yogurt industry, some of the key companies are focusing their strategies to align with the current market trends. The worldwide vegan population has showcased 4X expansion over 2012-2017, which reflects a strong rate of growth in the trend of veganism. Augmenting investments in research and development of innovative vegan probiotic yogurt will be thus an important strategy adopted by manufacturers, according to FMI’s study.
Low-Sugar & Low-Fat Products to Attract Wider Consumer Base
With the increase in health-awareness among consumers, there has been a significant change in the lifestyle and consumption patterns. Consumers are demanding product insights and specifications to keep a track of their calorie intake. Moreover, the preference low-sugar and low-/no fat products is increasing. At the same time, compromise on the taste. Thus, key market players are trying to develop low fat and zero fat probiotic yogurt in a variety of different flavors to enlarge their customer base.
FMI’s analysis indicates that besides Europe and North America, the probiotic yogurt market in China has also been demonstrating impressive growth scenario over the recent past. Whereas, the evolving dietary patterns and rising consumer proclivity for nutritionally rich food products is highly likely to account for the strong demand growth outlook estimated for the Asia Pacific region.
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Future Market Insights (FMI) is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace, with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure that our clients prepare for the evolving needs of their consumers.