The global drinkable yogurt market is expected to reach a valuation of USD 50 Billion by the end of 2022, accelerating with a CAGR of 6.5% by 2022 to 2032, to reach a value of USD 94 Billion by 2032.
| Attribute | Details |
|---|---|
| Drinkable Yogurt Market Size (2022E) | USD 50.0 Billion |
| Drinkable Yogurt Market Projected Size (2032F) | USD 94.0 Billion |
| Value CAGR (2022 to 2032) | 6.5 CAGR |
| Top 3 Countries' Market Share | 37% |
The drinkable yogurt market accounted for 20% of the total dairy industry globally in 2022 and is expected to rise due to changes in consumer lifestyle and an increase in worldwide disposable income.
The market's expansion can be linked to increased consumer awareness of lifestyle problems and the resulting trend toward healthier, probiotic-rich foods. The food is high in nutrients that promote good health and lower the risk of disorders like obesity. The key drinkable yogurt market trends are driving the demand favorably.
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In order to maintain good health, consumers have increased the adoption of probiotics in their daily diet. Yogurt is one of the most favored prebiotics. As a result, the demand for drinkable yogurt is expected to rise in the near future.
Key players are focusing on introducing different flavors in order to appeal to a wide range of audiences. In order to utilize the consumer preference for plant-based product flavors like carrot and beetroot in addition to fruit-derived flavors like strawberry, coconut, and banana are easily available in the market. The drinkable yogurt market outlook is expected to shift the dairy consumption dynamics of consumers.
The drinkable yogurt market grew at a CAGR of 5.5% between 2017 and 2021. The period marked rapid product development, with the key players taking advantage of the significant opportunities being presented in the yogurt market.
As per the drinkable yogurt market study, consumers have reduced their intake of sugar in order to fulfill the demand of health-conscious consumers. As a result, stevia - a natural sweetener, is being adopted in drinkable yogurts. In order to maintain gut health, consumers are willing to spend on healthy eatables, thereby driving the sales of drinkable yogurt. All these factors are expected to propel the demand for drinkable yogurt in the market.
The easy availability of different types of drinkable yogurt in the market and consumer inclination toward health and wellness is expected to generate many opportunities in the drinkable yogurt market. Key players are focusing on developing beverages from organic ingredients as consumers prefer clean-label products.
Consumers are emphasizing the importance of maintaining good health and focusing on consuming food and beverages that help build body immunity. The demand for drinkable yogurt is rising as it has multiple functional ingredients.
A surge in the number of cases related to lifestyle illness has pushed consumers to buy healthy food products to maintain gut health. As consumers are aware of the benefits of including probiotic drinks to prevent gastrointestinal conditions like constipation, the demand for drinkable yogurt is expected to rise.
Packaging plays a crucial role in enhancing the shelf life of yogurt. Companies are sharing information related to processes and ingredients used in producing drinkable yogurt in order to maintain transparency to win over consumers. In order to entice consumers, key players are launching drinkable yogurt with additional functional properties and flavors. This marketing strategy being followed by the companies in the drinkable yogurt market is expected to yield favorable results.
As per the drinkable yogurt market analysis, consumers began to pay attention to their health during the pandemic, which led to their purchasing patterns changing significantly. This unexpected pandemic highlighted the importance of staying healthy in order to build resistance against invasive viruses. People began prioritizing the purchase of nutritious fluids, which further influenced the sales of drinkable yogurt.
Probiotics are included in people's everyday diets in order to maintain optimum health. In the coming years, this is projected to boost demand for drinkable yogurt drinks. In order to meet evolving consumer demands, many companies have introduced vegan, low-calorie, and gluten-free options.
Initially, due to the disruption of the supply chain, there was a scarcity of drinkable yogurts in the market. Travel restrictions and the closure of manufacturing industries further affected the sale of drinkable yogurts, but as the situation bounced back, people started spending on health-related products. The drinkable yogurt market has recovered from the pandemic and is expected to show a steady growth rate in the near future.
North America is at the forefront of the drinkable yogurt market due to the easy availability of the product. There is a regional presence of key players like Chobani and General Mills. They are launching sugar-free, vegan variants of drinkable yogurt in order to fulfill changing consumer requirements.
With the increase in consumer awareness, the demand for immunity-boosting food products has increased in the past few years. The younger generation is mindful of the food they eat and focuses on exercising daily, which in turn is expected to impact the demand for drinkable yogurts in North America. As per FMI, the USA drinkable yogurt market is expected to reach a value of about USD 9.6 Billion in 2022, which is approximately 24% of the global drinkable yogurt drinks market.
With a revenue share of 41.8 percent in 2021, Asia Pacific contributed the most to the worldwide drinkable yogurt market. This increase was attributed to increased product demand as a result of increased consumer knowledge of the need to eat a healthy diet.
Consumers' willingness to spend money on healthy snacks and beverages has aided producers in developing and producing a variety of beverages in the region. The growth in sales of drinkable yogurt will be fueled by key manufacturers' innovations. IFF, for example, developed YO-MIX ViV, a solution for ambient yogurt and other fermented drinks, with an emphasis on China, in June 2021.
Consumers in European countries are well aware of the advantages of good health. They are willing to spend money on products that increase their body's resistance to viruses.
Drinkable yogurts are available in bottles and pouches of various sizes that are convenient to carry to work, which is projected to drive demand for drinkable yogurts among working people who prefer energy drinks to refill their energy after a long day at work.
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Non-dairy yogurt accounted for the maximum share of the drinkable yogurt market. Plant-based drinks and desserts are a flourishing sector. It fits consumers’ desire to relish foods that are delicious, as well as good for their health.
Consumers are also preferring organic products that do not contain any chemical products and prefer brands that follow sustainable business practices. Like recyclable plastic packaging and low carbon footprint across different processes. Brands that offer vegan drinkable yogurt are expected to generate more revenue in long run.
Consumers have grown label cautious; they scrutinize all of the ingredients used to create healthy drinks. While standing in the aisles of the store, customers read the contents and choose drinks that contain elements that are good for them. And so considerable revenue generation comes through the sale of goods from fully stocked shelves in supermarkets. These shops have a large selection of drinkable yogurt in various flavors and pack sizes.
Customers can order drinks with only one click, which in itself is driving online sales. The online distribution channel in the drinkable yogurt market is expected to grow at a rate of 5.2 percent per year from 2022 to 2023. And they account for 60% of all sales.
To provide clients with doorstep delivery, key players partnered with several online marketplaces such as Amazon and Flipkart. Consumers are tempted to buy from online channels through various schemes and discounts offered by e-commerce sites. Many organizations are incorporating artificial intelligence and machine learning skills to improve the purchase experience on their platforms.
Key companies are investing in launching new products in the drinkable yogurts market to fulfill the consumer demand for healthy products. They are investing in developing technology and product packaging to enhance its shelf life.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and lots for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; and the Middle East & Africa |
| Key Countries Covered | USA, Brazil, Mexico, Germany, United Kingdom, China, India, Japan, Australia, and GCC Countries |
| Key Segments Covered | Category, Type, Sales Channel, and Region |
| Key Companies Profiled | Danone S.A; Nestlé S.A; General Mills Inc.; Chobani LLC; Royal FrieslandCampina N.V.; Groupe Lactalis; Pillars Yogurt; Morinaga Nutritional Foods, Inc |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Global drinkable yogurt market is estimated to be worth over USD 50 Billion by 2022.
The drinkable yogurt market is forecasted to surpass USD 94 Billion by the end of 2032.
Between 2017 and 2021, the drinkable yogurt market grew at a 5.5% CAGR.
The demand for drinkable yogurt is expected to grow at a 6.5% CAGR between 2022 and 2032.
Change in consumer lifestyle and increase in consumer spending capacity is expected to drive the drinkable yogurt market globally.
The North American drinkable yogurt market will grow at 6.1% CAGR between 2022 and 2032.
| Estimated Market Size (2024E) | USD 333.3 million |
|---|---|
| Projected Market Value (2034F) | USD 642 million |
| Value-based CAGR (2024 to 2034) | 6.8% |
| Market Value for 2024 | USD 99.29 billion |
|---|---|
| Market Value for 2034 | USD 272.74 billion |
| Market Forecast CAGR for 2024 to 2034 | 10.6% |
| Market Value in 2023 | USD 1,160.1 Million |
|---|---|
| Market Value in 2033 | USD 1,784.4 Million |
| Growth Rate (2023 to 2033) | 4.4% |
| Market Value (2022) | USD 685.68 Million |
|---|---|
| Market Projected Value (2032) | USD 1348.83 Million |
| Market CAGR (2022 to 2032) | 7% |
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