Fortified Yogurt Market Research Report: Information by Fortifying Ingredient (Vitamins, Minerals, Probiotics, and Others), Distribution Channel [Store-Based (Supermarkets & Hypermarkets, Convenience Stores, and Others) and Non-Store-Based], and Region (North America, Europe, Asia-Pacific, and RoW)– Forecast till 2024
Fortified yogurt offer some extra micronutrients such as protein, calcium, probiotics, prebiotics and different vitamins. Fortification of yogurt involves the process of adding micronutrients to yogurt which are generally consumed by consumers of different age. Fortified yogurt comes in various types such as plain, flavored and others. Fortified yogurt comes with a spectrum of varieties in functionality such as gluten free, lactose free, low-fat, low-calories, and others.
Fortified Yogurt Market is Expected to Grow at a CAGR of 6.1% from 2020 to 2023
With the growing consumer awareness & their increasing interest in healthy yogurt, the demand for fortified yogurt will drive the market growth from 2017 to 2023. Also, with the growth of food advancement in food technology and packaging technology, combined with the innovation and introduction of new attractive packaging has also boosted the sales of fortified yogurt. The growing incidence of diseases and increasing consumer health awareness as well as their consciousness about appearance are the various trends which have led to the adoption of healthy low-fat yogurt, which is one of the main variant fortified yogurt come in. Moreover, a healthy diet trend due to the increasing prevalence of various health issues, will play a key role in driving the fortified yogurt market at CAGR of 6.1 % during the forecast period.
Downstream Market Analysis
Globalization and urbanization are major driving force for this market, furthermore popularity of healthy and nutrient-rich yogurt are also encouraging the growth of the market. Plain and flavored yogurt will be the highest growing segment in the fortified yogurt market. However, flavored yogurt segment will dominate the fortified yogurt market during the forecast period of 2017-2023. Additionally, mineral-rich varieties are also expected to gain popularity due to mineral deficiency in the contemporary population owing to unhealthy and hectic lifestyles which result in daily unmet mineral needs.
Danone Group SA (France)
Ultima Foods Inc. (Canada)
Chobani Inc. (U.S.)
Sodiaal S.A. (France)
General Mills (U.S.)
Kraft Foods (U.S.)
The demand for Fortified Yogurt has pushed manufacturers to innovate and develop new product line which are better in taste and offers various health benefits.
The Global Fortified Yogurt Market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among this, Europe region has major market share followed by Asia Pacific. Changing consumption pattern, rising health awareness, weight reduction diet trends and rising disposable income in Asia Pacific region are anticipated to drive the demand for Fortified Yogurt in that particular region. In Asia Pacific, China dominates the market followed by India. It is anticipated that the demand for flavored yogurt will increase in China and Japan.
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Global Fortified Yogurt Market is segmented by product type, formulation, functionality, nutrients and region