Global Drinkable Yogurt Industry: Key Statistics and Insights in 2024-2032
Summary:
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The global drinkable yogurt market size reached USD 38.3 Billion in 2023.
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The market is expected to reach USD 60.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.26% during 2024-2032.
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Asia Pacific leads the market, accounting for the largest drinkable yogurt market share.
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Flavored yogurt accounts for the majority of the market share in the type segment due to its ability to cater to diverse consumer preferences.
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Non-dairy based yogurt holds the largest share in the drinkable yogurt industry.
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Supermarkets and hypermarkets remain a dominant segment in the market owing to their strategic locations, promotional offers, and the opportunity to shop for multiple products in one place.
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The rising focus on health and wellness is a primary driver of the drinkable yogurt market.
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The introduction of new flavors and the growing interest in plant-based alternatives are reshaping the drinkable yogurt market.
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Industry Trends and Drivers:
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Increasing health awareness:
The rising awareness among the masses about health and wellness is driving the demand for nutritious food options like drinkable yogurt, which represents one of the key factors propelling the growth of the market. As people are becoming more aware about numerous benefits associated with gut health, they are seeking products that contain probiotics, vitamins, and essential minerals. This growing trend is encouraging individuals to incorporate drinkable yogurt into their diets as a convenient source of nutrition. In response, brands are formulating yogurt products enriched with added nutrients and functional ingredients to cater to this health-conscious demographic. Marketing campaigns are also effectively highlighting the health benefits of drinkable yogurt, which is resonating with consumers eager to enhance their overall well-being.
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Rising demand for plant-based options:
The growing trend of plant-based diets is catalyzing the demand for drinkable yogurt made from alternative sources, as consumers are seeking dairy-free options for various reasons, including lactose intolerance and ethical considerations. As awareness about the environmental impact of traditional dairy farming is increasing, individuals are opting for plant-based products that align with their dietary preferences. This shift is prompting brands to innovate with yogurt alternatives derived from ingredients like almonds, coconuts, soy, and oats, which are appealing to a broader range of consumers. The ongoing transition towards plant-based options is reshaping consumer expectations and expanding the drinkable yogurt category, thereby supporting the market growth.
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Flavor innovations and product variety:
Manufacturers are experimenting with innovative flavors and unique combinations to captivate consumers and enhance their product offerings. With the rising demand for distinctive taste experiences, brands are introducing new options, which is positively influencing the market. Consumers are looking for products that meet their nutritional needs and provide enjoyable and memorable taste experiences. As a result, companies are developing limited-edition flavors and seasonal offerings, creating a sense of urgency among consumers. In addition, many brands are prioritizing natural ingredients and reducing the use of artificial flavoring to align with the increasing preference for clean-label products, thereby contributing to the market growth.
We explore the factors driving the growth of the market, including technological advancements, consumer behaviors, and regulatory changes, along with emerging drinkable yogurt market trends.
Drinkable Yogurt Market Report Segmentation:
Breakup By Type:
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Plain Yogurt
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Flavored Yogurt
Flavored yogurt represents the largest segment because consumers are seeking diverse and enjoyable taste experiences.
Breakup By Category:
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Dairy-Based Yogurt
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Non-Dairy Based Yogurt
Non-dairy based yogurt accounts for the majority of the market share as the rising demand for plant-based diets is driving consumers towards dairy-free alternatives.
Breakup By Distribution Channel:
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Supermarkets and Hypermarkets
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Convenience Stores
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Specialty Stores
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Online Stores
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Others
Supermarkets and hypermarkets exhibit a clear dominance in the market due to their extensive product range, convenience, and the ability to attract a large volume of shoppers looking for a variety of drinkable yogurt options.
Breakup By Region:
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North America (United States, Canada)
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Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
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Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
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Latin America (Brazil, Mexico, Others)
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Middle East and Africa
Asia Pacific enjoys the leading position in the drinkable yogurt market, which can be attributed to the increasing health consciousness among consumers and the growing preference for yogurt as a nutritious beverage.
Top Drinkable Yogurt Market Leaders:
The drinkable yogurt market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
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Abel & Cole Limited (William Jackson Food Group)
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Arla Foods Ingredients Group P/S
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Chobani LLC
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CP-Meiji Co. Ltd.
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Danone S.A.
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Dutch Lady Milk Industries Berhad (Royal FrieslandCampina N.V.)
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Lactel (Lactalis International)
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Pillars Drinkable Yogurt
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Schreiber Foods Inc.
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