Global Drinkable Yogurt Market is Segmented By Source (Dairy, Non-Dairy), By Flavor (Flavored, Non-Flavored), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Size
The Global Drinkable Yogurt Market reached USD 38.1 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 63.5 billion by 2031. The market is growing at a CAGR of 6.6% during the forecast period 2024-2031. The market growth of drinkable yogurt is also influenced by factors such as product innovation, marketing strategies, and distribution channels.
Drinkable yogurt offers convenience and portability, making it popular among consumers seeking on-the-go healthy snacking options. The availability of various flavors and formulations, including low-fat and lactose-free options, is expected to further expand the drinkable yogurt market. Manufacturers constantly introduce new flavors, ingredients, and packaging formats to attract consumers and differentiate their products from competitors, further driving market growth.
Market Scope
| Metrics | Details |
| CAGR | 6.6% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | By Source, By Flavor, By Distribution Channel, and By Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
To Know more Insights - Download Sample
Market Growth and Trends
Growing Consumer Awareness About the Health Benefits of Yogurt Drives the Market Growth
Growing consumer awareness about the health benefits of yogurt will have a significant impact on driving the global drinkable yogurt market. As more consumers become educated about the positive effects of yogurt consumption, they are increasingly seeking out yogurt-based products, including drinkable yogurt, to incorporate into their diets.
The market is also responding by offering a wide range of drinkable yogurt products with various flavors, formulations, and nutritional profiles to cater to different consumer preferences. For instance, on September 8, 2022, Petits Filous introduced an innovative range of drinkable yogurts specifically formulated to enhance children's vitamin intake. This new line of yogurt drinks is carefully crafted with an abundance of essential nutrients to support healthy growth and development. It is available in two delectable flavors, Strawberry & Beetroot, and Peach & Carrot, these yogurt drinks offer a tasty and convenient way for children to supplement their vitamin consumption while enjoying a delightful treat.
Convenience and Portability of Drinkable Yogurt Drive the Market Growth
The convenience and portability of drinkable yogurt play a pivotal role in driving the global drinkable yogurt market. As consumers lead increasingly busy lifestyles, they are seeking convenient and on-the-go options that align with their fast-paced routines. Drinkable yogurt emerges as a perfect solution, meeting the demand for a portable, ready-to-consume, and nutritious snack or meal replacement.
Manufacturers are also developing new products to meet the demand in the global drinkable market. For instance, on June 13, 2023, Chobani introduced an exciting addition to its product lineup with the launch of Chobani Zero Sugar Drinks. This innovative offering provides consumers with a convenient and on-the-go option in a refreshing drink format. What sets these drinks apart is their zero-sugar formulation, offering a guilt-free choice for health-conscious individuals.
Competition from Alternative Products Hamper the Market Growth
Competition from alternative products poses a restraint on the global drinkable yogurt market. As consumers have a wide range of beverage options available to them, including smoothies, protein shakes, and plant-based alternatives, drinkable yogurt faces competition for market share.
The market for healthy and convenient beverages is highly competitive, with various alternatives vying for consumer attention. These alternatives often offer similar attributes such as convenience, nutritional value, and on-the-go consumption. This intense competition creates a challenge for drinkable yogurt to differentiate itself and maintain its market position.
Market Segment Analysis
The global drinkable yogurt market is segmented based on source, flavor and distribution channel, and region.
Strong presence of Eell-Established Dairy Brands
The dairy segment holds the largest share of the global drinkable yogurt market. Dairy-based drinkable yogurt has a long-standing presence in the market, with well-established brands and a history of consumer familiarity. This segment is gaining consumer trust over the years, contributing to its dominant market position.
Manufacturers are also responding by introducing new products in the global drinkable yogurt market. For instance, on October 21, 2021, Del Monte-Vinamilk, the joint venture between Del Monte Philippines Inc (DMPI) and Vietnam Dairy Product JSC (Vinamilk), introduced a diverse range of dairy products to the Philippine market, marking its entry into the third-largest economy in the ASEAN region. This new product lineup comprises Del Monte-Vinamilk Fresh Milk, IQ Smart Flavoured Milk, YoGurt Drink, and Tea Bliss Milk Tea.
Market Geographical Share
Increasing Population and Rising Disposable Income in Asia Pacific
The Asia Pacific region holds the largest market share in the global drinkable yogurt market. The Asia region consists of a significant portion of the global population, including densely populated countries such as China and India. The increasing population and a growing middle class with rising disposable incomes are contributing to the expansion of the consumer base for drinkable yogurt products in the region.
To meet this demand manufacturers are also responding by introducing new drinkable yogurt products in the market. For instance, on August 26, 2021, Lactalis India, introduced a pioneering product in India with the launch of Lactel Turbo Yoghurt Drink in Chennai. This remarkable beverage marks the country's first of its kind. It is designed to cater to the fast-paced, on-the-go lifestyle, the Lactel Turbo Yoghurt Drink offers a convenient and refreshing option.
Market Companies
The major global drinkable yogurt market players include Müller, Danone S.A., General Mills, Inc., Dana Dairy Group, Chobani, Morinaga Nutritional Foods, Inc., Grupo Lala, Pillars Yogurt, The Icelandic Milk and Skyr Corporation and Lifeway Foods, Inc.
COVID-19 Impact on Market
The COVID-19 pandemic had a significant impact on the global drinkable yogurt market. The drinkable yogurt market, like many other industries, experienced disruptions in the supply chain. Restrictions on movement, lockdown measures, and logistical challenges impacted the sourcing of raw materials, production, and distribution. These disruptions led to temporary shortages, delays in product availability, and increased transportation costs, affecting the overall market operations.
However, the pandemic influenced consumer behavior and preferences. With increased health concerns, consumers showed a heightened interest in products that support immune health and overall well-being. Drinkable yogurt, known for its potential health benefits and nutritional value, gained popularity as consumers sought functional foods. This shift in consumer preferences positively impacted the demand for drinkable yogurt.
Artificial Intelligence Impact Analysis
Artificial intelligence (AI) is playing an increasingly significant role in various industries, including the global drinkable yogurt market. AI-powered algorithms can analyze consumer data, including preferences, purchase history, and dietary requirements, to provide personalized product recommendations. In the drinkable yogurt market, AI can help identify consumer preferences for flavors, ingredients, and nutritional needs, enabling manufacturers to develop targeted products and marketing strategies. Personalized recommendations enhance customer satisfaction, loyalty, and overall market growth.
AI can optimize the drinkable yogurt supply chain by analyzing real-time data on factors such as demand, inventory levels, transportation routes, and production capacities. This enables efficient inventory management, reduces wastage, and ensures timely delivery of products. By streamlining the supply chain, AI contributes to cost savings, improved operational efficiency, and enhanced market competitiveness.
By Source
- Dairy
- Non-Dairy
By Flavor
- Flavored
- Strawberry
- Mixed berry
- Vanilla
- Banana
- Coconut
- Aloe Vera
- Others
- Non-Flavored
By Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Stores
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- On February 21, 2023, ICV Partners LLC completed the acquisition of the Desi Natural and Noga brands, along with their associated assets, from Raymundo's Food Group LLC. Building upon this acquisition, ICV has also introduced a new business venture named Desi Fresh Foods, specializing in the production and distribution of yogurt and yogurt drinks within the United States market.
- On February 25, 2022, ICV Partners LLC finalized the acquisition of the esteemed "Desi Natural and Noga brands" and all their accompanying assets from Raymundo's Food Group LLC. Leveraging this strategic acquisition, ICV has launched a pioneering enterprise called Desi Fresh Foods, dedicated to catering to the growing demand for yogurt and yogurt drinks in the United States market.
- On November 18, 2022, Raisio introduced a fresh addition to their range of cholesterol-lowering products under the brand name "Benecol." This latest offering, the lemon & honey yogurt drink flavor, is enriched with plant stanols, Vitamins B1, and C. These beneficial ingredients not only aid in reducing cholesterol levels but also contribute to enhancing the immune system's strength.
Why Purchase the Report?
- To visualize the global drinkable yogurt market segmentation based on source, flavor and distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of the drinkable yogurt market level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global drinkable yogurt market report would provide approximately 61 tables, 56 figures, and 117 Pages.
