INDUSTRY/BUSINESS NEWS: Global Yoghurt Consumption to Surpass $67 Billion by 2015

According to a new global report by Global Industry Analysts, Inc., global yogurt consumption is projected to surpass $67 billion by 2015. This is also due in part to the increasing popularity of yogurt as a functional food (probiotics).
For more on the probiotics market, check out the upcoming issue of ihr magazine.

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Global Yoghurt Consumption to Surpass $67 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Yoghurt market. The global yoghurt market is projected to surpass $67 billion by the year 2015, driven by growing consumer desire for convenient and health promoting products. The market is also favored by the increasing popularity of yoghurt as a functional food (probiotic).

San Jose, California (PRWEB) February 8, 2010 -- Global dairy industry's rapid growth is attributed primarily to the advent of functional products, with characteristics such as low-sugar, low-fat, cholesterol-reducing and favorable impact on digestive health. Among all functional foods, yoghurt is considered an ideal medium for delivery of beneficial functional ingredients. Consumer focus on healthy lifestyle is a major driving force for the global yoghurt and yoghurt drinks market. Over the years, the market has witnessed a shift from conventional spoonable yoghurt products towards yoghurt drinks, as well as products that are specifically targeted at children. In addition, demand for organic yoghurt products with natural ingredients is also on the rise. Innovative and premium products such as bio yoghurts or yoghurts enriched with juice and fruits are also finding favor among consumers. Attractive packaging and aggressive promotions play a major role in enticing consumers to purchase yoghurt products.

Europe and Asia-Pacific dominate the global yoghurts market with more than 80% share of volume consumption, as stated by the new market research report on yoghurt. Asia presents a huge opportunity for global health food retailers (including yoghurt manufacturers) due to the rising incidence of lifestyle-related health concerns such as diabetes and obesity brought on by rapid economic development and rising income levels. Consequently, yoghurt consumption in Asia-Pacific is projected to reach 5.2 million tons by 2012. China represents the fastest growing regional market for yoghurt, in terms of consumption (value and volume).

Yoghurt: A Global Strategic Business Report
Refrigerated yoghurt constitutes the fastest growing sector, and benefits from its positioning as a health-promoting product. Products with the ability to improve immune system and enhance digestive functioning are expected to hold ground in the future. Households with children constitute the segment with potential growth opportunities. However, rising prices of refrigerated yoghurts drinks are acting as deterrents, preventing consumers from making repeat purchases. In addition, low-cost substitute products such as kefir milk and smoothies are posing intense competition for the products.

Global yoghurt market is characterized by intense competition prompting leading players differentiate themselves by focusing on health benefits, branding, and incorporation of ingredients (namely fruits). Key players profiled in the report include Arla Foods UK Plc, General Mills Inc., Groupe Danone, Inner Mongolia Yili Industrial Company Ltd, Meiji Dairies Corporation, Mengniu Dairy Company Limited, Nestle S.A., Sodiaal SA, Yoplait Dairy Crest Limited, Yeo Valley Group Ltd, and Yakult Honsha Co., Ltd., among others.

The report titled "Yoghurt: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, competitive scenario, product introductions/innovations, and recent industry activity. The study analyzes market data and analytics in terms of value sales for regions including The United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. The study analyzes market data and analytics in terms of both volume and value consumption.

Source: PRWeb.com