Spoonable Yogurt Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Spoonable Yogurt Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Spoonable Yogurt Market is projected to register a CAGR of 5.2% during the forecast period, 2022-2027.

Since consuming fermented milk products offers numerous medical benefits, yogurt has been a staple of the human diet for many centuries. It is widely preferred by people all over the world because it contains important nutrients including protein, calcium, vitamins, and living culture, or probiotics, which help to improve the gut flora. Additionally, convenience foods with added nutrients are becoming more and more popular. Amongst them, spoonable yogurt is the most accepted since it is simple to scoop and consume as well as its smooth, glossy texture appeals to a wide range of new generations. Also, it is projected that the rising prevalence of lifestyle diseases including cardiovascular disease, obesity, and diabetes will fuel the demand for such healthy food items and boost the growth of the spoonable yogurt market.

Additionally, consumption of low-fat yogurt is rising globally due to the growing health risk among individuals. As a result, governments around the world are establishing rules on reduced fat content in all yogurt products. As an illustration, in July 2021 the United States Food and Drug Administration (FDA) regulated the standards of identification for zero fat and low-fat yogurt and make various changes to the standard of identity for yogurt. According to the regulations, low-fat yogurt must have between 0.5 and 2 % fat and at least 8.25 % milk solids.

Key Market TrendsInnovative Flavors driving the market

Yogurt has become increasingly popular throughout time and it is widely consumed as a frozen dessert, nutritious food, and everyday snack. The National Library of Medicine reports that consuming yogurt has been linked to better food quality, higher nutrient intakes, and improved metabolic profiles in both children and adults. Yogurt with flavors serves to enhance the product's taste and texture, which tends to increase consumer appeal. Nowadays consumers prefer probiotic yogurt in various flavors like mint coriander, blueberry, mango, and herb and spice combination over traditional and unusual flavors. Although probiotic yogurt has a variety of tastes and is extensively consumed by all sorts of individuals, people are now drawn to its innovative and exotic flavors. The food and beverage industries are introducing spoon yogurt by mixing a variety of flavors from exotic and tropical fruits and vegetables. For instance, in November 2021, Plant Veda introduced its latest flavored yogurt product line, PlantGurt, which includes three flavors of yogurt: mango, plain unsweetened, and blueberry. The market for spoonable yogurt is consequently expected to grow immensely because children and young people consume a significant amount of flavor-flavored yogurt globally.

Asia-Pacific Holds Largest Share in the Spoonable Yogurt Market

The Asia-Pacific spoonable yogurt market is rapidly expanding due to factors such as a preference for plant-based and lactose-free yogurt. Another reason consumers are turning to plant-based yogurt is the increasing prevalence of lactose intolerance. When lactose intolerant people consume animal-sourced milk products, they experience a variety of debilitating symptoms like gas, nausea, diarrhea, and bloating. As a result, lactose-free products allow them to meet their dietary requirements without adversely affecting their health. Additional factors supporting non-dairy yogurt include the growing veganism trend, perceived health benefits, and indulgent shopping patterns. According to the World Health Organization, more than 40% of all cancer cases are fixable, and the organization recommends people consume plant-based foods to reduce their chances of developing cancer. Hence, due to the market trend towards plant-based diets, the players are introducing yogurts made from various plant sources with differentiating ingredients. For instance, in August 2022, Vitasoy a Hong-Kong based brand declared the launch of dairy-free spoonable yogurt namely, Vitasoy Soy Milk Protein Plus, Vitasoy Oat Milk Unsweetened, among others in the Australian market. Thus, the above-mentioned factors are actively accelerating the growth of the market studied.

Competitive Landscape

The presence of numerous national and international players offering a wide variety of spoon yogurts makes the global spoonable yogurt market highly competitive. The key players in the market are Danone SA, Chobani LLC, General Mills Inc., Nestlé SA, and Arla Foods amba. The major players are using mergers and acquisitions as one of their primary strategies to achieve stability and improve their product offerings. In order to dominate local markets, major players also collaborate with regional competitors. Product innovation is another key strategy for the market players as they are constantly launching a variety of spoonable yogurt such as flavored yogurt, and plant-based yogurt to name a few. For Instance, in 2021, Danone launched creamy, thick textured plant-based Greek yogurt of various flavors under its brand Silk.

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