Global Yogurt Market is estimated to surpass US.59 bn by 2024

Posted by mandar on April 14th, 2021

Rising awareness about the benefits of yogurt over curd is propelling the demand for yogurt among consumers Yogurt has lower sugar and fat content, making it preferable for health conscious customers. Besides, manufacturers are boosting the nutrition value by adding minerals, vitamins, and fiber in the product. For example, Arla foods, a food  manufacturing company, has recently introduced fiber-rich yogurt. The yogurt has high protein content, adequate amount of calcium, and low fat content. As a result, people have started using yogurt in various food products such as baked goods and beverages.

High nutritional value offered by yogurt aids to improve immunity, strengthens teeth and bones, lowers bad cholesterol and high blood pressure, mitigates the risk of type 2 diabetes, and prevents digestive concerns. 

Registering the aforementioned factors into account, the yogurt market is anticipated to progress at a moderate CAGR of 3.0% in the forecast period from 2016 to 2024. As per the report published by Transparency Market Research, the yogurt market is anticipated to reach a value of US.59 bn by the end of 2024.

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Mobility Convenience Decided by Packaging Format

Apart from nutritional value of yogurt, the yogurt market is also driven by novel packaging solutions. Innovative and convenient packaging solutions present lucrative growth opportunities for manufacturers of the yogurts.  In line with this, yogurts are available in pouch, cups, jars, and tubs. In recent years, cups packaging was alone contributing to 70% of the market as it facilitates easy consumption of the content. In addition, attractive designs easily grabs the attention of consumers. Moreover, low cost packaging benefits manufacturers too. Owing to such factors, the cup segment is projected to dominate in the global yogurt market.