Yogurt Drink Industry Overview
The global yogurt drink market is anticipated to reach USD 86.08 billion by 2030, registering a CAGR of 6.4% during the forecast period, according to a new report by Grand View Research, Inc. The growth of this market can be attributed to the rising incidence of lifestyle disorders and gut health concerns among millennials and the working population. The growing consumer preference for healthier snacking products has contributed significantly to the growth of this market in recent years. Yogurt drinks offer several advantages, such as improved gut health and immunity. The rising health consciousness among consumers has led to increased product demand.
Moreover, the advent of functional and fortified products in conventional market spaces has resulted in increased consumer awareness regarding healthy food habits; thus, market players are focusing on new product developments and flavor improvements to cater to the rising demand. These drinks are highly popular in western countries, especially in the U.S. According to the United States Department of Agriculture (USDA), yogurt provides important nutrients, including vitamins and calcium in adequate quantity. It is among the three popular healthy dairy products supported by the USDA besides cheese and fluid milk. The online distribution channel is expected to register the fastest CAGR during the forecast period.
Yogurt Drink Market Segmentation
Grand View Research has segmented the global yogurt drink market based on product, packaging, distribution channel, and region:
Based on the Product Insights, the market is segmented into Vegan and Conventional
- The conventional products segment led the market in 2021 and accounted for the largest share of more than 93.5% of the global revenue. The segment is expected to maintain its dominance in the forecast period.
- The rising cases of obesity are anticipated to be among the major growth-driving factors for the segment.
- On the other hand, the vegan segment is projected to register the fastest CAGR during the forecast period.
- The possible ability of vegan products to reduce cholesterol levels, which reduces the chances of digestion-related problems, is projected to fuel the growth of this segment during the forecast period.
Based on the Packaging Insights, the market is segmented into Bottles and Tetra Packs
- The tetra packs packaging segment held the largest share of more than 88.00% of the global revenue in 2021 and is expected to maintain its dominance in the forecast period.
- With significant changes in consumer lifestyles, a vast majority of consumers across the globe are opting for on-the-go products, which offer ease of consumption as well as waste disposal. This is expected to contribute to the segment growth during the forecast period.
- However, bottles are projected to register the fastest CAGR during the forecast period. With a change in lifestyle, a large number of people across the globe are opting for on-the-go products, which, in turn, is projected to fuel the segment growth over the forecast period.
- Furthermore, the availability of different sizes and shapes in accordance with consumer needs will support the segment growth.
Based on the Distribution Channel Insights, the market is segmented into Hypermarkets & Supermarkets, Convenience Stores, Online, and Others
- The hypermarkets & supermarkets segment accounted for the largest share of 75.5% of the global revenue in 2021. An increasing number of these stores across various regions is the major growth-driving factor for the segment.
- The expansion of modern retail chains in Asia Pacific countries, such as Thailand, Malaysia, Philippines, and Indonesia, will support the segment growth over the coming years.
- The online distribution channel segment is anticipated to register the fastest CAGR during the forecast years. The segment is poised to emerge as a steady source of revenue over the forecast period.
- Promising growth exhibited by e-commerce platforms in emerging countries, including India and China, is compelling manufacturers to reorient their retail strategies in these countries.
Yogurt Drink Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is extremely competitive due to the presence of global companies as well as small-scale companies with high manufacturing volumes. A large number of companies are involved in research and development to offer improved and better-quality yogurt drinks. Most companies are focusing on new product launches and innovations to attract more consumers.
Some prominent players in the global Yogurt Drink market include:
- Danone
- Nestlé
- Yakult Honsha Co., Ltd.
- General Mills Inc.
- Meiji Holdings Co., Ltd.
- Chobani, LLC
- Fonterra Co-operative Group Ltd.
- Arla Foods amba
- Lactalis Group
- Benecol Ltd.
Order a free sample PDF of the Yogurt Drink Market Intelligence Study, published by Grand View Research.
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