The Asia-Pacific yogurt market is expected to grow at a CAGR of XX% during 2016-2021, to reach a value of USD XX million by 2021. The increasing awareness of the health benefits of yogurt acts as a catalyst to the growth of this market. Drinkable yogurt is the fastest-growing segment in China, and plain yogurt is the most consumed segment in India, while flavored yogurt is gaining popularity in Japan. Strategic partnerships with major companies are aiding in the expansion of this market. In 2013, the Chinese companies, Mengniu and Danone, signed an agreement to establish a joint venture for the production and supply of chilled yogurt products.
The rise in disposable income, coupled with a shift in the consumer preference, is driving the growth of this market. Also, the increasing awareness of health benefits of yogurt and the easy availability of flavored yogurt are further driving the market. The influence of Western lifestyle and taste, particularly among the younger consumers, is highlighting the need for newer varieties. Some of the health benefits of yogurt include boosting the immune system, combating diarrhea and constipation, etc. However, the rise in the cost of production poses a threat to the market.
The Asia-Pacific yogurt market is segmented on the basis of product type into regular yogurt and fat-free yogurt. While the regular yogurt constitutes a majority of the demand, increasing awareness regarding the consumption of healthy food supports the growth of the fat-free yogurt market.
The regional market is further segmented by form into set yogurt, yogurt drinks, Greek yogurt, and frozen yogurt. The set yogurt is more popular than the others and contributes a higher revenue. Yogurt drinks and frozen yogurt are further segmented into regular and flavored, which come in different taste variants.
The market is also segmented by the distribution channel into super markets/hyper markets, convenience stores, grocery stores, online, and others.
The Asia-Pacific yogurt market has been geographically segmented into China, Japan, India, Australia, and others. China is a major market in the region, with drinkable yogurt market growing exponentially in the country; due to significant and sustained investments and the rising demand for healthier drinks â€œon the go.â€ Yogurt has been part of the home-made meals in India. Steady growth is expected in Japan during the forecast period.
The market for yogurt is highly fragmented, wherein, the vendors compete for innovation, pricing and distribution. In China, Mengniu and Danone signed an agreement to establish a joint venture for the production of chilled yogurt products. Low-sugar variants of yogurt have been gaining popularity, which encourages the vendors to launch new and healthier varieties of yogurt. The private label brands are increasing their market share, thus threatening the position of leading brands.
Some of the major players in the market include-
Yakult Honsha Co., Ltd.
Key Deliverables in the Study
Market analysis for the Asia-Pacific yogurt market, with region-specific assessments and competition analysis on regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the market on a regional scale.
A comprehensive list of key market players, along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.
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