Market Overview:
Low-fat yogurt is a dairy product, which is prepared from fruits, sweeteners, artificial flavors, thickeners and stabilizers. These yogurts have low-fat content with enhanced taste and smell. The most frequently used bacteria for yogurt preparation are Lactobacillus delbrueckii and Streptococcus thermophiles. It serves as a better alternative to plain yogurts owing to high amount of vitamins, minerals, and carbohydrates.
Market Forecast:
Growing health conscious population and their awareness towards cardiac health are increasing the low-fat dairy products market growth. Also, health benefits connected with the consumption such as regulation of hypertension, high blood cholesterol, and weight management have strengthened the use of low-fat yogurt in the dairy industry. Additionally, increasing preference for organic dairy products has surged the demand for low-fat yogurt in the global market.
Increasing prevalence of obesity, hypertension, and high blood cholesterol due to high fat intake from milk and dairy products has intensified the demand for the low-fat and low-calorie product in the dairy industry. However, lack of the awareness regarding the use of bacterial culture in yogurt preparation and their potential hazard to the health may hinder the market growth over the forecast period. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 10.5% of low-fat yogurt market during the forecast period 2017-2023
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Downstream Analysis:
Low-fat yogurt is segmented on the basis of type, which includes flavored, plain, organic, fruit, and others. The fruit made low-fat yogurt is dominating in this segment followed by organic. The most commonly used fruit for preparation of low-fat yogurts is strawberry, apple, mango, cherry, blueberry, peach, and banana. Furthermore, the demand for organic low-fat yogurt is experiencing a high growth owing to consumer shift towards green label products.
On the basis of the distribution channel, the market is segmented into the store-based: convenience store, supermarkets & hypermarkets, specialty retailers, others and non-store based distribution channel. The store-based distribution channel is dominating the market. In this segment, the convenience store is leading the market followed by specialty retailers owing to ease of product availability.
Competitive Analysis:
The major players in low-fat yogurt market
Danone, Inc. (Canada)
General Mills, Inc. (U.S.)
Nestle S.A. (Switzerland)
Jalna Dairy Foods Pty. Ltd. (Australia)
Byrne Dairy Inc. (U.S.)
Jalna Dairy Foods Pty. Ltd. (Australia)
Rainy Lanes Dairy Foods Ltd (U.K)
Regional Analysis:
The global low-fat yogurt market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe is dominating the global low-fat yogurt market followed by North America. The U.K and Germany are the leading consumers of low-fat yogurt owing to increasing awareness about the gut health benefits of consuming low-fat yogurt. Additionally, high demand for low-calorie and low-fat food in the dairy industry is considered to be the key driving factor in this region.
Furthermore, increasing consumer awareness and growing demand for a healthier substitute of plain yogurt with low-fat content in the dairy industry has uplifted the demand for low-fat yogurt in North American countries like the U.S. and Canada, which is likely to boost the growth of the low-fat yogurts market during the review period. Furthermore, increase in the amount of milk quota in the European region is likely to uplift the growth of low-fat yogurt market.
Market Segmentation:
Low-fat yogurt market is segmented on the basis of type, distribution channel, and region.
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