Food and Beverages

Fortified Yogurt Market

Global Industry Analysis and Forecast 2023-2030

Pages : 120

Base Year : 2022

Released Year : February 2024

Format :Pdf Ppt Xls

Report ID:KR421

Author : Priyanka V.

Snapshot Icons

Base Year

2022

Snapshot Icons

Forecast Year

2023-2030

Snapshot Icons

Historical Years

2018-2021

Snapshot Icons

Market Value (2022)

USD 6,485.9 Million

Snapshot Icons

Forecasted Value (2030)

USD 10,296.5 Million

Snapshot Icons

CAGR (2023 - 2030)

6.2%

Snapshot Icons

Fastest Growing Region (2023 - 2030)

Asia Pacific

Snapshot Icons

Largest Region

Asia Pacific

Snapshot Icons

By Type

Gluten Free, Lactose Free, Low Calorie, Low Fat, Others.

Snapshot Icons

By Distribution Channel

Hypermarkets and Supermarkets, Convenience Stores, Others.


Market Perspective

The global Fortified Yogurt Market was valued at USD 6,485.9 million in 2022 and is projected to reach USD 10,296.5 million by 2030, growing at a CAGR of 6.2% from 2023 to 2030.

The global fortified yogurt market is expanding rapidly as people become more aware of the health benefits associated with consuming fortified dairy products. Fortified yogurt is yogurt that has been supplemented with extra nutrients, such as vitamins, minerals, and probiotics. These additional components not only boost the nutritional value of yogurt but also give a variety of health benefits, making it a popular choice among health-conscious consumers.

In addition, there is an increasing demand for fortified yogurt due to the rising prevalence of chronic conditions such as obesity, diabetes, and cardiovascular disease. As individuals become increasingly conscious of their well-being, they actively seek products that can enhance their overall health. The popularity of fortified yogurt is further fueled by its easy availability in a variety of flavors and packaging options. Consequently, the market for fortified yogurt is projected to experience sustained growth in the foreseeable future. However, the limited awareness among consumers regarding the health benefits of fortified yogurt is expected to impede market expansion.

Analyst’s Review on Fortified Yogurt Market

The fortified yogurt market has experienced significant growth in recent years, driven by increasing consumer awareness about the health benefits associated with its consumption. The demand for fortified yogurt has been particularly strong among health-conscious individuals seeking convenient and nutritious options. This trend is further supported by the growing popularity of functional foods, as consumers search for products that can provide additional health benefits beyond basic nutrition. For instance, numerous fortified yogurts contain probiotics, which are live bacteria cultures that promote a healthy digestive system. This has resonated with consumers who are interested in maintaining good gut health and preventing digestive issues. Additionally, fortified yogurts often come in a variety of flavors and formats, such as Greek yogurt or drinkable yogurts, catering to diverse consumer preferences and lifestyles. Thus, with the increasing popularity of fortified yogurts and the variety of options available, the segment is expected to grow substantially in the upcoming years.

Market Definition

Fortified yogurt refers to yogurt that has been enhanced with additional nutrients not naturally found in regular yogurt. This enrichment process involves the deliberate addition of specific vitamins and minerals during production to increase the yogurt's nutritional value.

Fortified yogurt is commonly enriched with additional vitamins such as D, B12, and A, along with minerals like calcium. The purpose of fortifying yogurt is to offer an improved health profile and cater to the specific dietary requirements of consumers. Furthermore, fortified yogurt offers a convenient and accessible means for individuals to incorporate essential nutrients into their diets, making it particularly beneficial for those with specific nutritional needs or deficiencies. This makes fortified yogurt an excellent choice for individuals looking to support and maintain a healthy digestive system. Moreover, the convenience and versatility of yogurt make it easy to incorporate into various meals and snacks, allowing individuals to enjoy the nutritional benefits in a delicious and satisfying way. Overall, fortified yogurt is a valuable option for those seeking a convenient and nutritious addition to their diet.

Market Dynamics

Increasing consumer emphasis on health and wellness has emerged as a significant factor boosting the growth of the fortified yogurt market. As more individuals prioritize their well-being, they actively seek food products that offer additional nutritional benefits. Fortified yogurt, which is enriched with extra nutrients, provides consumers with a convenient and flavorful means to incorporate these additional benefits into their diets.

Fortified yogurt typically includes added vitamins, minerals, probiotics, and other advantageous ingredients that support overall health. This addresses specific health concerns and caters to the rising demand for functional foods that offer targeted health benefits. The market for fortified yogurt is progressing rapidly due to the increasing need for healthy and convenient food options.

In addition, yogurt, which is already recognized as a nutritious choice, can be further fortified by manufacturers to meet the demand for products that align with specific health goals. Moreover, fortified yogurt offers a variety of flavors and options, catering to different consumer preferences. This versatility has further contributed to the expansion of the fortified yogurt market.

However, the lack of consistent regulations and quality control in some regions may deter consumers from purchasing fortified yogurt due to concerns about its safety and efficacy, thereby hampering the growth of the market. Moreover, the high cost of fortified products is a major factor hindering the growth of the fortified yogurt market. Consumers are becoming increasingly price-sensitive, and they are reluctant to pay a premium for products that offer added nutrients. This is particularly applicable in developing countries, where the majority of the population may possess limited purchasing power. For instance, in a study conducted in a low-income community, it was found that the high cost of fortified yogurt posed a significant barrier to its adoption, as consumers were unwilling to spend more on a product they perceived as expensive.

Segmentation Analysis

The global fortified yogurt market is segmented based on type, distribution channel, and geography.

Based on type, the fortified yogurt market is bifurcated into gluten free, lactose free, low calorie, low fat, and others. The gluten free segment accounted for the largest market share of 37.39% in 2022. The dominance of the segment in the fortified yogurt market can be attributed to several factors such as a significant increase in the number of individuals with gluten sensitivities or celiac disease, leading to a higher demand for gluten-free products. Additionally, the gluten-free diet trend has gained traction among health-conscious consumers who believe that eliminating gluten can improve digestion and overall well-being. As a result, yogurt manufacturers have recognized the potential of catering to this growing consumer base and have introduced a wide range of gluten-free fortified yogurt options.

Based on distribution channel, the fortified yogurt market is bifurcated into supermarkets and hypermarkets, convenience stores, and others. The convenience stores segment dominated the market with a market share of 34.58% in 2022 due to their strategic positioning and accessibility. These stores are strategically located in high-traffic areas such as gas stations, shopping malls, and office buildings, making it convenient for consumers to quickly grab a healthy snack while on the go. Additionally, convenience stores often stock a wide variety of fortified yogurt brands and flavors, catering to the diverse preferences of their customers. The availability of options further strengthens their dominance in the market, as consumers can easily find their preferred fortified yogurt brand without the need to visit multiple stores.

Geographical Analysis

Based on region, the global fortified yogurt market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

Fortified Yogurt Market Size & Share, By Region, 2023-2030

Asia-Pacific registered the largest market share of 34.65% in 2022, fueled by robust health and wellness trends, with consumers actively seeking products that offer additional nutritional benefits. The region's strong cultural inclination towards health and wellness has driven high demand for nutritious food options, making fortified yogurt a popular choice. Additionally, the rising disposable incomes in many countries within the region have allowed consumers to prioritize their health and indulge in premium products such as fortified yogurt. Furthermore, the presence of prominent dairy industries in countries, including Japan and Australia, has enabled the production and distribution of high-quality fortified yogurt, thereby solidifying Asia-Pacific's dominance in the market.

Europe emerged as the second dominating region in 2022 due to its strong cultural affinity for dairy products. Additionally, Europeans have incorporated yogurt into their daily diet for centuries, making it a staple in European cuisine. Europeans have a diverse range of choices, including Greek, Bulgarian, and Icelandic yogurt among various options. This enduring fondness for yogurt has led to Europe becoming a center for innovative fortified yogurt. Furthermore, manufacturers are continuously creating unique flavors and formulations to cater to the diverse preferences of European consumers. As a result, European consumers anticipate a high standard of quality and a variety of options when selecting their yogurt. This has attracted the attention of health-conscious individuals worldwide, who recognize the health benefits of yogurt and actively seek European brands

Competitive Landscape

The global fortified yogurt market study will provide valuable insights with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies, such as partnerships, mergers & acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Expansion & investments are the major strategic initiatives adopted by companies in this sector. Industry players are investing extensively in R&D activities, building new manufacturing facilities, and supply chain optimization.

The major players in the Fortified Yogurt Market are:

  • Kite Hill
  • Nestle
  • Yakult Danone India Pvt Ltd.
  • Stonyfield Farm, Inc.
  • Skyr Corporation
  • Chobani, LLC.
  • General Mills
  • Danone
  • FAGE USA Dairy Industry, Inc.
  • FIRST GRADE INTERNATIONAL LTD

Key Developments

  • January 2021 (Product Launch): Nomadic Dairy launched Yogurt+, a range consisting of twenty yogurts and yogurt drinks across four formats, all fortified with 100% of an adult’s recommended vitamin D intake.

The global Fortified Yogurt Market is segmented as:

By Type

  • Gluten Free
  • Lactose Free
  • Low Calorie
  • Low Fat
  • Others

By Distribution Channel

  • Hypermarkets and Supermarkets
  • Convenience Stores
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
CHOOSE LICENCE TYPE
CUSTOMIZATION OFFERED
  • Check Icon Additional Company Profiles
  • Check Icon Additional Countries
  • Check Icon Cross Segment Analysis
  • Check Icon Regional Market Dynamics
  • Check Icon Country-Level Trend Analysis
  • Check Icon Competitive Landscape Customization
  • Check Icon Extended Forecast Years
  • Check Icon Historical Data Up to 5 Years
Frequently Asked Questions (FAQ's)
The global fortified yogurt market is projected to reach 10,296.5 USD million by 2030, growing at a CAGR of 6.2% from 2023 to 2030.
The global fortified yogurt market was valued at USD 6,485.9 million in 2022.
The major driving factor for the market growth is the increased awareness about the benefits of fortified yogurt, and increased awareness about health & wellness.
Top manufacturers of fortified yogurt market are Kite Hill, FAGE USA Dairy Industry, Inc., Nestle, Yakult Danone India Pvt Ltd., Stonyfield Farm, Inc., FIRST GRADE INTERNATIONAL LTD, Skyr Corporation, Chobani, LLC., General Mills, and Danone, among others.
Asia-Pacific is the fastest growing region in the forecasted period (2023-2030).
By type segment, gluten free segment will hold the maximum share in the fortified yogurt market in the forecast period
Get the latest!

Get actionable strategies to empower your business and market domination

  • Deliver Revenue Impact
  • Demand Supply Patterns
  • Market Estimation
  • Real-Time Insights
  • Market Intelligence
  • Lucrative Growth Opportunities
  • Micro & Macro Economic Factors
  • Futuristic Market Solutions
  • Revenue-Driven Results
  • Innovative Thought Leadership