The yogurt market will register a CAGR of over 5% by 2023
Increasing accessibility and availability through organized retailing have been among the primary factors driving the growth of the global yogurt market.
NEW YORK, March 27, 2019 /PRNewswire/ -- About this market
The increasing establishment of supermarkets, hypermarkets, and specialty stores have enhanced the penetration and growth of organized retailers across the world. Market vendors are highly dependent on large organized retailers for sales given the latter's wide presence and penetration. Increasing accessibility and availability through organized retailing have been among the primary factors driving the growth of the global yogurt market. This is because organized retail stores function as crucial distribution channels for fresh and packaged foods from producers to consumers. Additionally, with the population growing, the need for supermarkets has gone up amid rising demand for efficient distribution of food. Market vendors are collaborating with large modern retail chains to launch their products in supermarkets and hypermarkets to gain more visibility among customers. Technavio's analysts have predicted that the yogurt market will register a CAGR of over 5% by 2023.
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Market Overview
Increasing product launches
The growing number of product launches is raising awareness, versatility, and the availability of new and innovative yogurt flavors in the market. New product launches have been one of the primary factors driving the growth of the global yogurt market. Many market players are expanding their product portfolios by launching new product lineups and extending existing ones to include new flavors of yogurt.
Presence of high sugar and calories in yogurts
The flavored spoonable yogurt and yogurt drinks contain fruit purees with high sugar and preservative content. High sugar concentration in these products raises their calorie content, which is deemed unhealthy. Thus, many health-conscious consumers looking for healthy snack and drink alternatives may be apprehensive in using yogurt products for their high-calorie content.
For the detailed list of factors that will drive and challenge the growth of the yogurt market during the 2019-2023, view our report.
Competitive Landscape
The yogurt market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
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