Global Fortified Yogurt Market Scope:
The global Fortified Yogurt Market Size can reach a value of USD 228.24 billion by 2032. It can expand at a CAGR of 6.90% over the forecast period.
Fortified yogurt is a type of value-added foods which provide nutritive value to teenagers and adults. It contains added preservatives such as sugars and others and available in various flavors. The global fortified yogurt market report by Market Research Future (MRFR) has been thoroughly analyzed and scrutinized for the period of 2023 to 2032 (forecast period). The outbreak of the COVID-19 virus and its impact on the industry has been explored in detail in the report.
The craze for yogurt has led to the fortification of vital nutrients in the dairy product and its high consumption can warrant its demand over the forecast period. The rising health-consciousness wave among the populace and demand for organic products can work favorably for the market. Technological advances in food manufacturing and packaging can bode well for the market growth. Conduction of surveys for gleaning insights for preference of flavors, consumer demographics, and purchasing power can have a positive impact on the market. But high prices of fortified yogurt can threaten the market growth.
Regional Analysis:
The global fortified yogurt market has been studied with regard to four key regions—North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is pegged to dominate the market till the end of the forecast period owing to consumption of functional food products. The demand for fortified yogurt, presence of a well-aware crowd, and establishment of various cafes and supermarkets can bode well for the regional market growth. The willingness of consumers to spend on fortified products in Canada and preference for fiber and protein in their diets can influence the regional market.
The APAC fortified yogurt market is set for a massive explosion owing to the large number of consumers and market for new products. Innovation in flavors and packaging of the product are ideal strategies used by market players to capture market share. The emphasis on flavor and various product offerings can prove to be beneficial to the market. Consumption of fortified yogurt in the Philippines and procurement by teenagers and adults for their gut health can influence the market.
Segmentations:
The global Fortified Yogurt Market Overview has been segmented based on fortifying ingredient and distribution channel.
By fortifying ingredient, the global fortified yogurt market has been segmented into probiotics, vitamins, minerals, and others. The minerals segment is expected to gain precedence in the market and maintain its dominance till 2023 due to mineral deficiencies in the public and rise of various diseases. On the other hand, probiotics can exhibit a strong growth rate during the assessment period due to focus on digestive health.
By distribution channel, the global fortified yogurt market has been divided into store-based and non-store-based. The store-based segment is further segmented into supermarkets & hypermarkets, convenience stores, and others.
Competitive Outlook:
General Mills, Nestlé, Sodiaal S.A., Yakult, Ultima Foods Inc., Koko Dairy Free, Kraft Foods, Chobani, LLC, Danone Group SA, and Vinamilk are key players of the global fortified yogurt market. Market players are focusing on catering to products which can replenish nutritional deficiencies while providing a good aftertaste.
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