(MENAFN - GetNews) Low-Fat Yogurt Market Global Research Report by Type (Flavored, Organic, Plain, Fruit and Others), Distribution Channel (Store-Based- Convenience Store, Supermarkets & Hypermarkets, Specialty Retailers, others and Non-Store Based) and Region - Forecast till 2023
Yogurt is a dairy product, which is prepared by bacterial fermentation of milk. Lactobacillus delbrueckii and Streptococcus thermophiles are the most preferred bacteria for the fermentation. Low-fat yogurt is usually prepared from fruits, sweeteners, artificial flavors, thickeners and stabilizers. They have low-fat content with enhanced taste and smell. Also, it is rich in vitamins, minerals, and carbohydrates. Low-fat yogurts also have an extended shelf life as compared to plain yogurt.
Escalating fitness trend among the consumers backed up by large number of health advantages associated with consumption of low-fat yogurt over other alternatives is supporting the growth of low-fat yogurt market globally. Rising health awareness and increasing consumption of healthy desserts have prompted the growth of low-fat yogurt in the daily diet of individuals. Wide range of yogurt varieties available in the market have attracted consumer's attention towards the product-line. This has further influenced the high sales of the product in the global market. Growth of the functional foods rich in probiotics has also provided an impetus for the increased demand of this sector. Asia Pacific is identified to have great potential in the low-fat yogurt market based on the high demand supported by globalization in the region.
Increasing consumer's awareness through advertisements have lately boosted up the sales of low-fat yogurt across the globe. Health conscious consumers are found to have more inclination towards low-fat yogurt based on high health benefits obtained from it. Additionally, growing demand for organic food commodities is encouraging the manufacturers to increase their production capacity and suffice the consumers' growing needs. Increasing awareness about the demerits of consumption of high-fat containing desserts is also adding fuel to the rising sale of low-fat yogurt.
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Major Key Players Review:
The competition among the players seems fierce with the growing demand for low-fat yogurt across the globe. Players are found to indulge in various strategies to increase the sale of their product globally. Major strategies followed by the competitors are identified to be product promotions through various channels such as e-commerce platforms including celebrity endorsements. Product innovations and fortification with essential nutrients and flavors are also identified to be the key strategies followed by the players to introduce product differentiation and make their offerings in low-fat yogurt line stand out from others.
The key players profiled in Low-Fat Yogurt Market report are Byrne Dairy Inc. (U.S.), Danone, Inc. (Canada), Nestle S.A. (Switzerland), General Mills, Inc. (U.S.), Jalna Dairy Foods Pty. Ltd. (Australia), and Rainy Lanes Dairy Foods Ltd (U.K), among many others.
Latest Industry Updates:
Jun 2017 In order to suffice the growing need for healthy dairy products, Chobani announced the launch of their new product called 'Smooth. Smooth is a traditional low-fat yogurt which claims to have 25% less sugar than other yogurt in the same category.
June 2017 General Mills which is one of the major brands in the frozen yogurt market announced the launch of its new fresh-style yogurt to strengthen their market position. This will help the company in extending their product line and creating product differentiation.
Nov 2017 Pinkberry launched its new pecan pie frozen yogurt. The product represents one of the company's innovative ranges of yogurt prepared with pecan pie frozen yogurt topped with cinnamon crumble. Rising demand for unique yogurt would further support the sale of this product in the market.
Oct 2017 TCBY, one of the famous names in the frozen yogurt market, launched three new flavors for the autumn. Through product promotions, the company is attracting attention towards their product line to increase their sale and generate revenues.
The Global Low-Fat Yogurt Market has been divided into type, functionality, distribution channel, and region.
On The Basis Of Type: Plain and Flavoured
On The Basis Of Functionality: Organic and Conventional
On The Basis Of Distribution Channel: Store based and Non-store based
On The Basis Of Region: North America, Asia Pacific, Europe and ROW.
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Low-Fat Yogurt Market is segmented into APAC, North America, Europe and Rest of the World (RoW). Global Low-fat Yogurt market is highly dominated by North American region due to high consumption and demand of healthy frozen yogurt and derivatives. The consumption of low-fat yogurt is found to be high in the U.S. and hence the market has strong potential in this region. Based on the increasing awareness about health advantages of low-fat yogurt consumption, the market is experiencing high growth in the Europe and APAC region. The application of low-fat yogurt as healthy dessert is anticipated to grow at a high rate based on the functional and nutritive property of the product.
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