Health-conscious consumers enables rise in the probiotic yoghurt market
Probiotic yoghurt sales closed in on US$ 20 billion in 2018 and they are likely to increase at a healthy pace over the coming years.
This is according to new research by Future Market Insights (FMI), which envisages a year-on-year growth of over 6% in the probiotic yoghurt market revenues in 2019. Spoonable probiotic yoghurt continues to attract more than 3/4th of total revenues, when compared to drinkable probiotic yoghurt products.
Increasingly being perceived as a healthy snack owing to the presence of a balanced source of proteins, carbohydrates, fats, minerals, and vitamins, probiotic yoghurt is enjoying billowing sales prominently because of the gut-friendly flora that plays a crucial role in healthy digestion. The rich nutritional profile of probiotic yoghurt prominently supports weight loss, blood sugar and cholesterol regulation, and bone density improvement.
While these health benefits continue to elevate the scope of penetration for these products, the widespread availability in a multitude of flavours is currently among the most significant factors boosting probiotic yoghurt sales in the market. Innovations such as mix fruit yoghurt, and high-fibre or high-protein yoghurt are likely to further translate into increase in the popularity of probiotic yoghurt among health-conscious population.
A majority of probiotic yoghurt consumption is animal-based, according to the report. However, with the trends of vegetarianism and veganism significantly influencing sales of various F&B products, it is highly likely that the sales of probiotic yoghurt will remain impacted by these trends. The report suggests that the demand for plant-based probiotic yoghurt will rise in forthcoming years, on the back of robust popularity of animal-based probiotic yoghurt.
The worldwide vegan population has showcased 4X expansion over 2012-2017, which reflects a strong rate of growth in the trend of veganism. Augmenting investments in research and development of innovative vegan probiotic yoghurt will be thus an important strategy adopted by manufacturers, according to FMI’s study.
The report indicates that besides Europe and North America, the probiotic yoghurt market in China has also been demonstrating an impressive growth scenario over the recent past. Whereas, the evolving dietary patterns and rising consumer proclivity for nutritionally rich food products is highly likely to account for the strong demand growth outlook estimated for the Asia Pacific region.