Yogurt And Probiotic Drink Market Growth & Trends
The global yogurt and probiotic drink market size is expected to reach USD 182.96 billion by 2030, registering a CAGR of 9.8% during the forecast period, according to a new report by Grand View Research, Inc. The positioning of yogurt and probiotic drinks as the basis of healthy nutrition and a rise in public awareness about the health benefits of these beverages are driving product demand worldwide. For instance, in March 2021, LYVECAP, a direct-to-consumer wellness brand launched a new probiotic drink. The product is formulated for athletes to improve recovery time, boost performance, strengthen immunity, and enhance cognitive ability.
With major yogurt brands expanding product portfolios to dairy-free/vegan yogurts by the addition of enzyme lactase, which breaks down lactose into sugars, many alternatives of yogurts for lactose-intolerant consumers are likely to accelerate market growth. For instance, in July 2020 Danone S.A. launched its first plant-based, 100% dairy-free yogurt drink range, Actimel, in the U.K. The new dairy-free drinks were made available at Asda Stores Ltd., Tesco, and Sainsbury’s in mango, passionfruit, and blueberry flavors. The probiotic drink segment was the largest in 2022 and is expected to maintain its dominance even during the forecast period.
The promising momentum for the segment has driven key players to acquire companies offering water-based probiotic beverages, such as kombucha. Top beverage manufacturers in the industry are acquiring small brands to expand their product portfolios in the water-based probiotic segment. For instance, in August 2021, a U.S.-based beverage investment firm, First Bev, acquired a controlling stake in Health-Ade, a kombucha beverage brand. The brand offers products, such as Health-Ade Pop, a low sugar prebiotic soda; Health-Ade Plus, and an adaptogenic kombucha line. The online distribution channel is estimated to register the fastest growth rate from 2023 to 2030.
Promising growth exhibited by e-commerce platforms in the U.S. is compelling manufacturers to reorient their retail strategies in the country. For instance, in September 2021, So Delicious, a brand of Danone S.A., launched a direct-to-consumer (D2C) website to improve online discovery and purchase. Such initiatives by key players to add D2C channels will further increase product visibility among consumers. The global industry is consolidated with a major industry share acquired by a few well-established companies, such as Danone and Chobani, LLC. The industry is also dominated by some key developing manufacturers, such as Yakult Honsha Co., Ltd., Grupo Lala, Califia Farms, Lifeway Foods, Inc., Bio-K+, Harmless Harvest, GoodBelly Probiotics, and KeVita.
Yogurt And Probiotic Drink Market Report Highlights
- North America dominated the global industry in 2022 and accounted for the largest share of the global revenue
- The high share of the region was mainly credited to the increased consumer awareness regarding lifestyle disorders and the resultant shift towards healthier alternatives
- The yogurt drink segment is projected to register the second-fastest growth rate during the forecast period
- This growth can be attributed to the wide availability of other types of probiotic-rich products
- The online distribution channel segment is estimated to record the fastest CAGR from 2023 to 2030 owing to the availability of a wide range of products on a single e-commerce platform.
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