Market Highlights
The global yogurt powder market is projected to witness a significant growth rate of 7.8% from 2019 to 2024 and reach a market value of USD 432 Million by the end of 2024. Yogurt powder is dehydrated yogurt, prepared by adding active bacterial cultures to pasteurized milk. This mixture is then dried. The yogurt powder contains a high amount of calcium, vitamin A, protein, and has a strong profile of amino acids.
Yogurt powder is widely used in bakery and confectionery products, dips, salad dressings, and soups. It is also used to add tart and dairy yogurt flavor in frostings, ice cream, smoothies, and toppings. These increasing applications of yogurt powder in food & beverages is expected to boost the growth of the global yogurt powder market. Yogurt powder has increased shelf life compared to fresh yogurt. This is predicted to fuel the growth of the global yogurt powder market. However, the loss of probiotics during the drying process can hinder the growth of the global yogurt powder market.
Key Players
Some of the key players in the global yogurt powder market are Easiyo Products Limited (New Zealand), Dr. Otto Suwelack Nachf. GmbH & Co. KG (Germany), Lyo-San Inc. (Canada), Bempressa (Poland), Prolactal (Austria), Bluegrass Dairy & Food, Inc (US), Batory Foods (US), CP Ingredients Ltd. (Ireland), ACE International LLP (India), MSK Ingredients Ltd. (UK), WinCrest Bulk Foods, Inc (US), Jarrow Formulas, Inc. (US), and Epi Ingredients (France).
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Market Segmentation
The global yogurt powder market has been segmented based on product type, flavor, category, distribution channel, and region.
Based on type, the global yogurt powder market has been segmented into skimmed yogurt powder, semi-skimmed yogurt powder, and whole yogurt powder. The whole yogurt powder segment is expected to dominate the global yogurt powder market due to high demand in developing economies. The skimmed yogurt powder segment is projected to register the highest CAGR due to increasing health awareness leading to the high preference for low-calorie yogurt powder.
The global yogurt powder market has been bifurcated, on the basis of flavor, into plain and flavored. The plain segment is expected to gain the larger market share during the review period owing to the high preference among consumers, whereas the flavored segment is projected to register higher CAGR due to development and launch of different flavors which are attracting new customers.
The global yogurt powder market has been classified, based on category, as lactose-free and conventional. The conventional segment is expected to dominate the global yogurt market, due to the relatively lower price of the products. The lactose-free segment is expected to register the higher CAGR in global yogurt market during the forecast period, owing to the increasing prevalence of lactose intolerance across the globe.
On the basis of distribution channel, the global yogurt powder market has been classified into store-based and non-store-based. The store-based segment has been further categorized as hypermarkets and supermarkets, convenience stores, and others. The store-based segment is expected to occupy the larger market share during the forecast period due to strong vendor networks, availability of different products, and discounts offered. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online purchase.
Regional Analysis
The global yogurt powder market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
The North American yogurt powder market is expected to dominate during the forecast period due to the growing preference for healthy snacks. Additionally, the increasing use of yogurt powder in bakery and confectionery products is projected to fuel the growth of yogurt powder market in this region.
The yogurt powder market in Asia-Pacific is projected to register the highest growth rate from 2019 to 2024 owing to changing lifestyle and increasing per capita disposable incomes in developing countries such as China and India.
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