Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
Global market value of probiotic yogurt in 2019 close to US$ 22 Billion and the market is expected to expand at 6.4% CAGR over the period 2020-2028.
Increasing awareness of the health benefits of probiotic yogurt is a driving force for the growth of this market. Regular consumption of probiotics prevents the development of harmful bacteria within the digestive tract, which leads to better absorption of nutrients and the movement of the intestines. Probiotic yogurt helps reduce the risk of type 2 diabetes and colorectal cancer. Companies like Nestle, Dannon, Chobani and Yoplait are the main shareholders of this sector.
Increasing health consciousness and a more active lifestyle have increased consumers ' tendency towards the use of easy-to-eat foods that satisfy hunger and provide health benefits. Probiotic yogurt is an appropriate option as it offers a number of health benefits and is available in many varieties that would satisfy the needs of consumers. The consumer's demand for probiotics is therefore projected to boost the sales of probiotic yogurt.
When customers have switched from sugar to natural ingredients, probiotic yogurt has become a healthy snack. The health benefits of this yogurt, which helps reduce the risk of type 2 diabetes and colorectal cancer, are also key drivers of this business. Nonetheless, the increase in the cost of research and development is a challenge to the industry. The growing demand for functional foods is expected to fuel the growth of the industry.
This, in turn, is expected to provide enormous growth opportunities for market players to reap substantial profits. Effective marketing remains a key growth determinant of the probiotic yogurt market, given that consumers tend to spend more on brands with which they connect.
Hypermarkets / Supermarkets Triggers the Growth of Global Probiotic Yogurt Market.
By Sales Channel Segment, Hypermarkets / Supermarket is projected to hold maximum share of xx % of the Probiotic Yogurt Market across the globe. Hypermarkets / supermarkets are estimated to dominate the sales of probiotic yogurt, because they provide the convenience of choosing from several food varieties priced at reasonable prices. The food and beverage world is experiencing a sea change as customers are searching for goods with health benefits for their personal well-being. Probiotic yogurt intake is projected to run along this 'safety halo' and the selling of probiotic food products, such as milk and yogurt, is higher than that of probiotic supplements. Convenience stores, specialty stores and online retailers are likely to follow suit and emerge as lucrative sales channels for probiotic yogurt brands in terms of obtaining maximum ROI.
The increasing customer base for these products has necessitated an increase in their availability in a wide range of retail stores, such as supermarkets and hypermarkets, making it easier for consumers to purchase them.
Although North America continues to lead, MEA will see Exponential Growth.
It is projected that North America will continue to be the leading market for probiotic yogurt in the forecast period. The highest consumption of probiotic yogurt in the U.S. led by Canada, is one of the key factor of regional market development. Nevertheless, the Middle East and Africa are likely to emerge as a high growth market and a force to be reckoned with, given that consumers in the region are turning to nutritious and fortified food products.
The Asia-Pacific region was the fastest-growing market for probiotic yogurt in 2019 and will continue to lead the market in the future. The growth of this market in the area is due to the affordability and purchasing power of consumers. Therefore, increased sales of probiotic drinks in countries such as Japan, India and China are due to increasing consumer awareness of health.
The global market for probiotic yogurt is characterized by a rapidly changing consumer demand. The market is highly competitive due to the presence of various small and large suppliers competing in terms of price, cost, creativity, reputation and distribution. Intense competition between vendors, combined with rapid technological change, poses a significant risk to vendor operations. Some of the key players drives the global probiotic yogurt market are Nestle, Dannon, Chobani, Yoplait.
Probiotic Yogurt Market Segmentation:
By Product Type:
- Drinkable Probiotic Yogurt
- Spoonable Probiotic Yogurt
- Soy Milk
- Almond Milk
- Coconut Milk
- Regular/ Unflavoured
By Fat Content:
- Regular/Whole Milk
- Low Fat
By Sales Channel:
- Convenience Stores
- Specialty Stores
- Online Retailers
- Grocery Stores
- Other Retail Formats
- North America
- Asia Pacific
- Latin America
- Middle East & Africa