USD 51.38 billion
Yogurt Drink Market Size, Share, Growth Analysis, By Type(Flavored Yogurt and Plain Yogurt), By Distribution Channel(Offline retail, and Online retail), By Packaging Type(Bottles and Pouches), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2126 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
85
|Figures:
76
Yogurt Drink Market Insights
Global Yogurt Drink Market size was valued at USD 51.38 billion in 2022 and expected to grow from USD 53.49 billion in 2023 to reach USD 73.77 billion by 2031, at a CAGR of 4.10% during the forecast period (2024-2031).
Yogurt drink is a popular beverage made from yogurt, a fermented dairy product. It is often mixed with water and fruit juice to create a refreshing and nutritious drink. Yogurt drinks are rich in probiotics, beneficial bacteria that support digestive health and boost the immune system. They also contain protein, calcium, and other essential nutrients. Yogurt drinks can be found in many cultures around the world and are enjoyed for their tangy taste and health benefits. The market has experienced significant growth in recent years, with rising demand for healthy and functional beverages. Consumers increasingly seek yogurt drinks for their probiotic content and potential health benefits. The market offers a wide variety of flavors, including traditional yogurt-based drinks and innovative blends with fruits, herbs, and spices. Major players in the industry are expanding their product lines and marketing efforts to cater to changing consumer preferences. The market is expected to grow as more people adopt health-conscious lifestyles and seek out convenient, nutrient-rich beverage options. Our in-depth analysis found that the Asia-Pacific region holds the largest global market share, accounting for over 40% of the total revenue. Europe and North America are also significant markets for yogurt drinks, with a growing demand for plant-based and lactose-free options. The report attributes the market growth to increasing health awareness, rising disposable income, and a growing demand for functional and convenient food and beverage products.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Flavored Yogurt
Fastest Growth
Plain Yogurt
Growth Rate
4.10% CAGR
Global Yogurt Drink Market ($ Bn)
Country Share for APAC Region (%)
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Yogurt Drink Market Segmental Analysis
Global Yogurt Drink market is segmented by type, distribution channel, packaging type, and region. Based on type, the market can be segmented into flavored yogurt, and plain yogurt. Based on distribution channel, the market is segmented into Offline retail, and Online retail. Based on packaging type, the market is segmented into bottles, and pouches. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
The market can be segmented by type into flavoring yogurt and plain yogurt. Flavored yogurt is expected to dominate the market due to the availability of different flavors and the increasing demand for natural sweeteners. The flavored yogurt segment is further sub-segmented into different flavors such as strawberry, mango, blueberry, and others, offering various options for consumers to choose from.
Plain yogurt, on the other hand, is preferred by health-conscious consumers due to its low-fat content and high nutritional value. Although the plain yogurt segment is expected to grow, it is not expected to dominate the market as flavored yogurt is more popular among consumers.
Analysis by Distribution Channel
By distribution channel, the market can be segmented into offline retail and online retail. Offline retail, which includes supermarkets, hypermarkets, convenience stores, and other physical retail stores, is expected to dominate the market due to the widespread availability of yogurt products in physical stores. Consumers prefer to purchase yogurt products from physical stores as they can see and inspect the product before purchasing.
Online retail, on the other hand, is gaining popularity among consumers due to the convenience it offers. With the rise of e-commerce, consumers can now purchase yogurt products online and deliver them directly to their doorstep. Online retail is expected to experience significant growth in the coming years due to the increasing penetration of the internet and smartphones.
Global Yogurt Drink Market By Type
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Yogurt Drink Market Regional Insights
The Asia-Pacific region dominated the global yogurt drink market and is expected to continue to do so during the forecast period. The region's large population, rising disposable incomes, and increasing health awareness drive the demand for yogurt drinks. India and China are the largest markets in the region, with a high consumption of traditional yogurt-based drinks.
In North America, the demand for yogurt drinks is also growing, driven by health-conscious consumers and a preference for convenient, on-the-go beverage options. The report notes that the popularity of plant-based and lactose-free options contributes to the region’s growth. The United States is the largest market in North America, accounting for over 80% of the total revenue.
Global Yogurt Drink Market By Region
- Largest
- Fastest
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Yogurt Drink Market Dynamics
Drivers
Increasing health consciousness among consumers
- One of the key drivers of the global yogurt drink market is the increasing health consciousness among consumers. As more people become aware of the potential health benefits of probiotics and other functional ingredients found in yogurt drinks, they seek convenient and nutritious beverage options. Yogurt drinks are perceived as a healthy and convenient alternative to sugary sodas and other less healthy options. This trend is expected to drive market growth as more consumers adopt healthier lifestyles and prioritize nutritious and functional foods and beverages.
Restraints
Availability of substitutes
- One major restraint in the global yogurt drink market is the availability of substitutes, such as other probiotic beverages, smoothies, and plant-based milk alternatives. Consumers have a wide range of options to choose from when it comes to functional and healthy beverages, which could reduce the demand for yogurt drinks. Additionally, the increasing popularity of homemade yogurt and smoothies may also impact the market growth. These factors could pose a challenge for established yogurt drink manufacturers and hinder market growth in the future.
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Yogurt Drink Market Competitive Landscape
The global yogurt drink market is highly competitive, with a large number of players vying for market share. Some key strategies market players employ include product innovation, marketing and promotional activities, and expansion into new markets. Companies are also investing in research and development to create new and innovative products to meet evolving consumer demands. Additionally, partnerships and collaborations with suppliers, distributors, and other industry players are common strategies to strengthen market position and expand reach. The competition in the market is expected to intensify as new players enter and existing players continue to invest in growth strategies.
Top Player’s Company Profiles
- Amul (India)
- Chobani LLC (US)
- The Coca-Cola Company (US)
- PepsiCo, Inc. (US)
- PepsiCo Beverages and Foods North America (US)
- Muller UK & Ireland Group LLP (UK)
- KeVita, Inc. (US)
- Lifeway Foods, Inc. (US)
- Tims Dairy Ltd. (UK)
- Arla Foods amba (Denmark)
- The Hain Celestial Group, Inc. (US)
- The Lactalis Group (France)
- Mother Dairy Fruit & Vegetable Pvt Ltd (India)
- Grupo Lala, S.A.B. de C.V. (Mexico)
- Yoplait (France)
- Saudi Dairy & Foodstuff Company (Saudi Arabia)
- Almarai Company (Saudi Arabia)
Recent Developments
-
In June 2023, Chobani launched a new range of zero-sugar yogurt in a drink format. It is a zero sugar offering in a convenient drink format, that provides consumers with a protein-packed on-the-go option made with natural ingredients. Chobani Zero Sugar drinking yogurts are available in four flavours: mixed berry, peaches & cream, strawberry cheesecake and milk & cookies.
-
In August 2023, Keurig Dr Pepper (KDP), a major beverage company, entered into a strategic partnership with La Colombe. The partnership includes a long-term sales and distribution agreement for La Colombe's ready-to-drink products, as well as a separate manufacturing and distribution agreement for its branded coffee pods. As a result of the deal, KDP became the second largest stakeholder in La Colombe, after the company's chairman Hamdi Ulukaya, who is also the founder of Chobani yogurt.
-
In August 2023, Orion Corp. of South Korea unveiled its strategic partnership with Dutch Mill Co., a prominent dairy company in Thailand, signaling its bold venture into Vietnam's expanding dairy beverage market. The collaboration was established in December, when Orion's Vietnamese subsidiary secured an exclusive agreement to distribute Dutch Mill's range of products in Vietnam.
Yogurt Drink Key Market Trends
- One of the key trends in the global yogurt drink market is the increasing demand for plant-based and lactose-free options. As more consumers seek out dairy-free and vegan alternatives, manufacturers are investing in developing new products that cater to these preferences. Another important trend is the rise of functional and fortified yogurt drinks formulated with probiotics, vitamins, and other health-promoting ingredients. These products are popular among health-conscious consumers looking for convenient and nutritious beverage options. The trend towards premiumization, with consumers willing to pay more for high-quality and unique products, is also driving innovation in the market.
Yogurt Drink Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global yogurt drink market analysis, the market is experiencing significant growth due to increasing consumer health consciousness and rising demand for functional and convenient beverage options. North America and Asia-Pacific are the largest and fastest-growing regions in the market, with the United States, China, and India leading in terms of market size. The market is highly competitive, with key players focusing on product innovation and expansion strategies. The growing trend of plant-based and lactose-free options and functional and fortified yogurt drinks are among the key market trends driving innovation in the industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 51.38 billion |
| Market size value in 2031 | USD 73.77 billion |
| Growth Rate | 4.10% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Yogurt Drink Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Yogurt Drink Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Yogurt Drink Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Yogurt Drink Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Yogurt Drink Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Yogurt Drink Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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