Fortified Yogurt Market Share Outlook Highlights Major Opportunities by 2027
Market Overview
Fortified yogurt offer some extra micronutrients
such as protein, calcium, probiotics, prebiotics and different vitamins.
Fortification of yogurt involves the process of adding micronutrients to yogurt
which are generally consumed by consumers of different age. Fortified yogurt
comes in various types such as plain, flavored and others. Fortified yogurt
comes with a spectrum of varieties in functionality such as gluten free,
lactose free, low-fat, low-calories, and others.
Market Forecast
With the growing consumer awareness & their increasing interest in healthy
yogurt, the demand for fortified yogurt will drive the market growth from 2017
to 2023. Also, with the growth of food advancement in food technology and
packaging technology, combined with the innovation and introduction of new
attractive packaging has also boosted the sales of fortified yogurt. The
growing incidence of diseases and increasing consumer health awareness as well
as their consciousness about appearance are the various trends which have led
to the adoption of healthy low-fat yogurt, which is one of the main variant
fortified yogurt come in. Moreover, a healthy diet trend due to the increasing
prevalence of various health issues, will play a key role in driving the fortified yogurt market at CAGR of 6.1 % during the forecast
period.
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Downstream Market Analysis
Globalization and urbanization are major driving force for this market,
furthermore popularity of healthy and nutrient-rich yogurt are also encouraging
the growth of the market. Plain and flavored yogurt will be the highest growing
segment in the fortified yogurt market. However, flavored
yogurt market share segment will
dominate the fortified yogurt market during the forecast period of 2017-2023.
Additionally, mineral-rich varieties are also expected to gain popularity due
to mineral deficiency in the contemporary population owing to unhealthy and
hectic lifestyles which result in daily unmet mineral needs.
Competitive Analysis-
The Major Key Players in Fortified Yogurt Market are
- Danone Group SA
(France)
- Ultima Foods
Inc. (Canada)
- Chobani Inc.
(U.S.)
- Sodiaal S.A.
(France)
- Nestlé (Europe)
- General Mills
(U.S.)
- Kraft Foods
(U.S.)
The demand for Fortified Yogurt has
pushed manufacturers to innovate and develop new product line which are better
in taste and offers various health benefits.
Regional Analysis
The Global Fortified Yogurt Market is
segmented into North America, Europe, Asia Pacific, and Rest of the World
(RoW). Among this, Europe region has major market share followed by Asia
Pacific. Changing consumption pattern, rising health awareness, weight reduction
diet trends and rising disposable income in Asia Pacific region are anticipated
to drive the demand for Fortified Yogurt in that particular region. In Asia
Pacific, China dominates the market followed by India. It is anticipated that
the demand for flavored yogurt will increase in China and Japan.
Market Segmentation-
Global Fortified Yogurt Market is segmented by product type, formulation,
functionality, nutrients and region
NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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