Yogurt Powder Global Market To Perceive A Momentous Growth At 7.8% CAGR During The Forecast Period
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.
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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.
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).
Latest Industry
Updates
- July 2017: Epi Ingredients launched SoFlexi, which is a powdered mix.
This product enables consumers to make fresh yogurt tasting snacks like
drinking yogurt, acid drink, and ice cream, instantly.
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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and wherever required we will be considering Covid19 Footprints for Better
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