Low-fat Yoghurt: Market Outlook
Yoghurt is a good source of probiotics, helps enhance immunity and some key nutrients that are necessary to be incorporated in our daily lives. Owing to its nutrient content like Calcium, Vitamin D, and many more Yogurt has traditionally encompassed in diets. Low-fat yoghurt is made up of 2% milk giving all essential nutrients and cutting off the fat content from traditional yoghurt.
Geographically, North America and Europe are the market leader with the highest consumption rate. With increasing awareness and number of brands offering low-fat yoghurt, Asia-Pacific is expected to witness a high growth rate in the forecast period, as the region has a large potential consumer base that is currently consuming yoghurt.
Rising concerns of diseases that are un-traceable on the consumption of GMO food products, consumers are inclined towards organic products. As a result, organic low-fat yoghurt is expected to witness significant growth in the short term forecast period
Changing Consumer Preference Bolstering Market Growth
Consumer preference and behavior has changed dramatically in the last decade as they are preferring healthy that is encouraging them to buy products like low-fat yoghurt. This changing preference of consumer has led to increasing frequency of product launch with innovation such as introduction of exotic fruity flavor.
The inclination of consumers towards a healthier diet and careful selection of ingredients will be a crucial driving force for the global low-fat yoghurt market. As the number of products for low-fat yoghurt increases, the consumer will be differentiating and selecting a product according to the taste, flavor, and texture.
Low-fat Yoghurt also consumed as a healthy on-the-go snack, and consumption is increasing as a large population is living a sedentary lifestyle. Low-fat Yoghurt with different flavors consumed as a dip and even drink. Recipes surfacing on social media influence the population to try and personalize the recipe. Hence, due to various applications all the flavor, whether fruit, tangy or unflavoured all will have a considerable demand.
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Low-fat Yoghurt: Market Segmentation
Based on Nature, Low-fat Yoghurt Market can be segmented as:
Based on Flavors, Low-fat Yoghurt Market can be segmented as:
Based on Source, Low-fat Yoghurt Market can be segmented as:
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Key Players of Global Low-fat Yoghurt Market
General Mills, Nestle, Danone, Yakult Honsha, Chobani, Kraft Foods Groups, Ultima Foods Inc., Muller UK & Ireland Group LLP, Brookside Dairy Limited, Jesa Farm Dairy, and more are some of the key players of the Global Low-fat Yoghurt Market.
Challenging and Stiff Competition among Key Players
Manufacturers are actively responding to the changing preference and needs of the consumer by producing low-fat yoghurt. Constant innovation is very important for the market players as there are many other manufacturers producing low-fat yogurt at the same level. For consumers to differentiate and select their products, manufacturers have to create a novel value in the product. These values are created as consumers need and are identified and addressed.
As the vegan population is rising globally, it is important to address the vegan population. For the same, manufacturers are producing vegan low-fat yoghurt, with soy, pea, and coconut milk as the source. Manufacturers are trying to match the nutrient value content in dairy low-fat yoghurt and vegan low-fat yoghurt.
Manufacturers like Nestle, are promoting the low-fat yoghurt by showcasing and suggesting various novel easy-to-cook recipes. These recipes encourage the consumer to buy and give freedom to personalize the food according to personal preference. This strategy of Nestle satisfies both consumers as well as manufacturers by increasing sales of the low-fat yoghurt.
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