Global Yogurt Powder Market Projected to Reach USD 411.30 Million by the end of
Posted by Nikita Manwar on October 10th, 2019
Yogurt Powder Market is growing over the traditional yogurt market because of high efficiency and more proclivity towards yogurt powder. An increase in awareness regarding the health and nutritional benefits among the population are driving the growth of the yogurt powder market. Moreover, yogurt powder has a longer shelf life, an abundant source of protein and calcium which is beneficial for improving the digestive health and immune system will further boost the demand of yogurt powder in the market.
Skimmed Yogurt Powder market type captured the largest market share in 2018 and it is expected to dominate through 2026 with substantial growth rate owing to growing consumer preference towards fat-free yogurt powder, higher usage of skimmed yogurt powder in a wide variety of foods and beverages segment and its popularity among millennial consumer. Moreover, the consumption of skimmed yogurt powder is around two-third of the total yogurt powder globally.
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Food & Beverages segment is expected to dominate the market during the forecast period due to the usage of yogurt powder in variety of foods & beverages such as sports drinks and nutrition/protein bars, meat products, breakfast drinks, infant formulas, nutritional & snacks bars, among others. In addition, the consumption rate of yogurt powder is increasing in HoReCa (Hotels, Restaurant, and Catering) sector, which is boosting the growth of the food & beverage segment. Even, Cosmetic and personal care segment is also growing because consumers are shifting towards natural and organic ingredients-based products, which will further boost the market growth.
Spray Drying method is the most popular method used by manufacturers to produce yogurt powder, it accounts for the major market share as yogurt powder produced using this method has higher shelf life and better nutritional value as compared to other drying methods.
“Yogurt powder is becoming a popular ingredient used in food & beverage products. Prominent players are coming up with innovative products such as flavored yogurt to lead the market and capture market share” —-GMI Research Outlook
Based on geography, Europe was the largest yogurt powder market in 2018 because of higher acceptance of yogurt powder as consumer are more conscious about health benefits and growing demand of yogurt powder in the food and beverages sector. Asia-Pacific is expected to witness faster growth over the forecast period, primarily due to rise in awareness about nutritional benefits of yoghurt powder such as high in calcium, proteins and a rich source of vitamin A. In addition, the per capita consumption of yogurt is increasing which will further increase the usage of yogurt powder.
Key takeaways/key essentials:
Global Yogurt Powder market share is divided by some of the key players including Glanbia, Kerry, Westland Co-operative Dairy Company Limited, General Mills, Fonterra Co-operative Group Limited, Almil AG, Prolactal GmbH, Bempresa, BioGrowing Co. Ltd., Dr. Otto Suwelack Nachf. GmbH & Co. KG, among others.
The Global Yogurt Powder Market segmented into product, method, application, and key geographies. Based on the product, the global yogurt powder market has been segmented into skimmed yogurt powder, semi-skimmed yogurt powder, and whole yogurt powder. Based on application, the global yogurt powder market has been segmented into Food & Beverages, Bakery & Confectionery, Cosmetics and Personal Care and Others. Based on the method, global yogurt powder has been segmented into Spray Drying, Freeze Drying, Drum Drying, and Microwave Vacuum Drying.
The research report on the yogurt powder market provides an in-depth analysis of the global yogurt powder market revenue based on product type, method, application, and major geographies for the forecast period from 2019 to 2026. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for the yogurt powder market. The report also analyses the competitive landscape, major players, and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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About the AuthorNikita Manwar
Joined: September 10th, 2019
Articles Posted: 80
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