Dry Yogurt Market Size, Share, Growth, and Industry Analysis, By Type (Skimmed Dry Yogurt, Semi-skimmed Dry Yogurt, & Whole Dry Yogurt), By Application (Traditional Retail, & Online Retail) and Regional Forecast to 2031

Updated On: 08 April 2024

DRY YOGURT MARKET REPORT OVERVIEW

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The global dry yogurt market size was USD 97.29 million in 2021 and the market is projected to touch USD 156.48 million by 2031, exhibiting a CAGR of 4.87% during the forecast period.

Anticipated growth in the dry yogurt market is driven by a convergence of key factors. This upsurge is primarily based on the rising consumer demand for convenient and versatile yogurt products, accessible across diverse settings. Consumers are increasingly seeking dry yogurt as a convenient snack or ingredient due to its longer shelf life and ease of storage compared to traditional yogurt. The product's adaptability in various forms—powdered or freeze-dried—suits different culinary and dietary preferences, leading to an expanding market demand.

Moreover, the landscape of the dry yogurt market is significantly influenced by ongoing technological advancements. Manufacturers are heavily investing in research and development to improve the production methods, taste profiles, and nutritional value. Innovations in dehydration techniques, flavor variations, and packaging options are enhancing the taste, convenience, and shelf stability, meeting the changing preferences and demands of modern consumers. Additionally, there's a noticeable shift towards eco-friendly practices in the industry, with manufacturers exploring sustainable packaging materials and environmentally conscious production methods, aligning with the growing preferences of environmentally aware consumers.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Lockdown Restrictions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had a mixed impact on the dry yogurt market. While there was a surge in demand for long-shelf-life and convenient food products during certain phases of the pandemic, the overall impact was predominantly negative. Disruptions in supply chains, production slowdowns, and shifting consumer spending patterns due to economic uncertainties affected the market. The closure of retail outlets, changes in consumer preferences, and fluctuations in purchasing power led to a decline in demand for some yogurt products. Therefore, the general impact of COVID-19 on the market was negative, despite intermittent short-term increases in demand during specific phases of the pandemic.

LATEST TRENDS

"Rising Popularity of Dairy-Free Alternatives to Transform the Market"

A current trend in the dry yogurt market is the growing demand for dairy-free alternatives. With an increasing focus on health-conscious choices and dietary preferences, there is a noticeable surge in the production and consumption of dairy-free dry yogurt. This trend caters to individuals with lactose intolerance, vegan dietary practices, and those seeking plant-based options. Manufacturers are actively introducing dairy-free formulations, often using coconut, almond, soy, or other plant-based sources to create a wider range of products. This trend in dairy-free alternatives signifies a response to evolving consumer preferences and dietary needs, expanding the market's offerings to a broader consumer base.

DRY YOGURT MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into skimmed dry yogurt, semi-skimmed dry yogurt, & whole dry yogurt.

Skimmed variants contain minimal fat content, appealing to health-conscious consumers. Semi-skimmed options strike a balance between low fat and creaminess. Whole Dry Yogurt, containing higher fat content, offers a richer taste. These variations cater to diverse consumer preferences, providing options aligned with dietary choices and taste preferences, contributing to the versatility and inclusivity within the market.

• By Application

Based on application the global market can be categorized into traditional retail, & online retail.

Traditional Retail encompasses sales through physical stores, where consumers directly purchase goods on-site. On the other hand, Online Retail refers to the digital marketplace, where consumers buy products through e-commerce platforms. The Traditional Retail sector relies on brick-and-mortar stores and physical interactions, offering immediate shopping experiences, while Online Retail leverages digital platforms, providing convenience, accessibility, and a wide array of products for consumers to purchase from the comfort of their homes, reshaping the retail landscape.

DRIVING FACTORS

"Health-Conscious Consumer Trends to Fuel Market Growth"

One pivotal driving force in the dry yogurt market growth is the increasing emphasis on health-conscious consumer choices. As individuals increasingly prioritize healthier eating habits, the demand for nutritious and convenient snack options rises. It's perceived health benefits, such as being a good source of probiotics and proteins, align with these preferences. Its longer shelf life and easy portability cater to the needs of consumers seeking on-the-go, health-focused snack alternatives.

"Expanding Dietary Preferences for Dairy Alternatives to Drive Market Growth"

Another significant driving factor in the dry yogurt market is the expanding demand for dairy alternatives. The market's growth is propelled by the increased consumer preference for non-dairy products, often due to lactose intolerance, vegan diets, or other dietary restrictions. This demand drives manufacturers to innovate and introduce an array of dairy-free options, utilizing plant-based ingredients such as coconut, almond, or soy. The provision of diverse dairy-free choices caters to a wider consumer base seeking healthier and plant-based dietary alternatives.

RESTRAINING FACTOR

"Supply Chain Disruptions to Hamper Market Growth"

One significant restraining factor in the dry yogurt market is the impact of supply chain disruptions. Challenges in raw material sourcing, production, and distribution networks during unforeseen events such as global pandemics or natural disasters can hinder the smooth operation of the market. Interruptions in the supply chain affect the availability of ingredients and packaging materials, causing delays in production and distribution, subsequently impacting the market's growth and product availability for consumers.

DRY YOGURT MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate in the Market due to the Large Population Base in the Region"

The Asia-Pacific region stands out as the most dominant hub in the dry yogurt market share. This dominance is primarily attributed to the region's expanding population, growing urbanization, and shifting dietary preferences toward healthier snacking options. Countries in this region, including China, India, Japan, and South Korea, exhibit substantial demand for on-the-go and convenient snack choices. The increasing awareness of health and wellness, combined with the rising disposable income in these countries, contributes to the substantial demand for such products. Additionally, the evolving food culture and inclination toward nutritious, portable snacks drive the market dominance of the Asia-Pacific region in the sector.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Several key industry players significantly impact the dry yogurt market. Leading brands are among the pivotal influencers, driving the market's trajectory through their extensive product offerings, global presence, and innovative marketing strategies. These leading players play a vital role in shaping the market dynamics by introducing diverse flavors, packaging formats, and catering to various consumer preferences. Their investments in research and development to enhance product quality, flavors, and nutritional value significantly influence consumer choices, setting trends and standards within the industry. Moreover, their strategic marketing campaigns and efforts in expanding distribution channels contribute to the market's growth and consumer outreach, solidifying their impact on the sector.

List of Market Players Profiled

• Armor Protéines (France)
• Epi Ingredients (France)
• Bempresa Ltd. (Poland)
• Prolactal GmbH (Austria)
• Bluegrass Dairy and Food, Inc. (U.S.)
• Glanbia Nutritionals (U.S.)
• Kerry Inc. (Ireland)

INDUSTRIAL DEVELOPMENT

October 2020: Dry yogurt powder with probiotics has been a recent innovation in the market. Probiotics are live bacteria that are beneficial to the gut. Dry yogurt powder with probiotics can be added to a variety of foods and beverages, such as smoothies, yogurt parfaits, and baked goods. This is a convenient way to get the benefits of probiotics without having to eat yogurt.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.