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The market is expected to grow at a CAGR of 6.5% during the period 20182023. The increasing awareness of the health benefits of probiotic and prebiotic yogurt acts as a driver to the growth of this market. Regular consumption of probiotic and prebiotic prevents the growth of harmful bacteria inside the digestive tract, which leads to better nutrient absorption and bowel movement. The probiotic and prebiotic yogurt helps to lower the risk of type2 diabetes and colorectal cancer. Companies like Nestle, Dannon, Chobani, and Yoplait are the major shareholders of this market.
Health Benefits Associated with Pro and Prebiotic Ingredients
As consumers have moved away from sugar to natural ingredients, probiotic and prebiotic yogurt has established itself as a healthy snack. The health benefits of this yogurt, which helps in lowering the risk of type2 diabetes and colorectal cancer, are also the key driving factor of this market. However, the rise in the cost of research and development poses a threat to the market. The growing demand for functional foods is expected to provide a boost to the industry's growth.
Probiotic and prebiotic yogurts can suppress shortterm appetite and may be effective in controlling food intake. For example, yogurt was found to have greater satiating effects than isocaloric fruitbased or dairy fruit beverages, and the effect was enhanced when yogurt was enriched with 6 gm. of inulin, which is a prebiotic.
Yogurt Drinks are the Second Largest SubSegment of the Market
The yogurt drinks market is expected to record a CAGR of 7%, over the forecast period. Health benefits and the highlydigestive nature of these drinks over other normal drinks are boosting the yogurt drinks market. The demography of youngsters of the 2535 age group account for the major consumption of yogurt drinks.
The availability of readymade pack of functional drinks for onthego consumption is one of the recent trends in this market. Probiotic and prebiotic drink products are easily accessible and faster to pick and drink. This convenience factor plays an important role in encouraging favorable consumer purchase decisions.
AsiaPacific is the Largest Market
AsiaPacific is the largest market for probiotic and prebiotic yoghurt drinks and is predicted to grow at the fastest rate over the forecast period. China, Japan and India are the largest markets for yogurt drinks, by consumption. The China probiotic and prebiotic yogurt market has generated USD 8.5 billion revenue in 2014.
The increasing disposable incomes, good taste and western lifestyles are the leading factors for the demand for yogurt drinks in the Asian market. Many global companies are discovering these trends, as they are investing in dairy farms for the proper supply of milk. These global companies have more trust in AsiaPacific, and are launching many innovative products with various flavors.
In North America, the probiotic ingredient demand is projected to record a CAGR of 5.8% during the 20182023 period. United States holds the highest share, followed by Canada and Mexico. General Mills, Chobani Inc., Groupe Danone S.A., Parmalat, Social S.A., YoPlait and Ultima Foods Inc. are some major players in the North American market.
Major players: NESTLE, DANNON, CHOBANI, YOPLAIT, FAGE, YAKULT, LA YOGURT, STONYFEILD FARMS, GREEK GODS, PILLARS
June 2017: Yoplait has launched a new product called Oui, a Frenchstyle yogurt, based on a recipe that the company uses in France. The product is only made from whole milk and comes in a Frenchmade glass pot.
July 2017: Danone has entered into a binding agreement with Lactalis to sell Stonyfield, one of its U.S. dairy subsidiaries, for $875 million
October 2017: Grupo lala has completed acquisition of Brazilian dairy company Vigor Alimentos, S.A. for an implied value of R$ 5,025 million.
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Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and noneconomic aspects
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