Skim Yogurt Market Research, 2031
The global skim yogurt market size was valued at $4.6 billion in 2021, and is projected to reach $9.9 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031.
The skim yogurt market is segmented into Type, Nature and Distribution Channel.
Yogurt is a fermented product prepared by adding bacterial fermentation to milk. The bacteria which is used for creating yogurt are known as yogurt cultures. The fermentation process helps in converting natural sugars or lactose in the milk to lactic acid.
Rapid growth of the fast food industry due to the fast moving life of consumers in the developed and developing countries has driven the skim yogurt market. Nevertheless, rise in obesity among the consumers is expected to boost the skim yogurt market. Moreover, skim yogurt is also available in various flavors such as cherry, strawberry, coconut, and vanilla, which is also fueling the growth of skim yogurt. Furthermore, availability of skim yogurt in various platforms ranging from modern trade to online sales channel have resulted in expansion of the global skim yogurt market. Moreover, increase in penetration of retail sales have augmented the market growth. Further, availability of skim yogurt on e-commerce platforms has increased the convenience for the consumers. Moreover, rise in expenditure on healthy food products by the millennials has propelled the demand skim yogurt. However, the rise in the consumption of skim yogurt products has simultaneously led to an increase in the influx of fake and counterfeit products in the market. Moreover, counterfeiting refers to fake branding and sale of non-authorized products and signifies a great challenge for the real vendors of skim yogurt products.
Counterfeit brands are usually prevalent in the developing economies where customers are highly price-sensitive. These brands are of low quality, and often lead to inconvenience & safety issues that subsequently develop negative perceptions among customers. Online distribution channel is one of the major platforms where transaction of counterfeited brands can be easily concealed. Thus, development of the counterfeited industry is anticipated to hamper the sale of the existing original skim yogurt brands in the market.
The skim yogurt industry has been segmented based on type, nature, and distribution channel and region. Based on type, the market is bifurcated into plain yogurt, flavored yogurt and fruits yogurt. Based on nature, the market is divided into organic and conventional. By distribution channel, the market is divided into hypermarket/supermarket, specialty stores, convenience stores, online sales channel and others. By distribution channel the market is divided into hypermarket/supermarket, specialty stores, convenience stores, online sales channel and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
By type, the market is bifurcated into plain yogurt, flavored yogurt and fruits yogurt. The flavored yogurt segment constitute a major skim yogurt market share; however, the fruits yogurt segment is projected to experience growth at the highest CAGR during the forecast period.
On the basis of nature, the market is categorized into organic and conventional. The conventional segment held major share in the market, and is projected to remain dominant during the forecast period. Conventional skim yogurt is prepared from artificial flavours, fruits, sweeteners, thickeners, additives, inactive cultures, and stabilizers. The major demand for conventional skim yogurt is from the commercial segment owing to the bulk requirement in less prices. Moreover, conventional skim yogurt is used in food & beverages, restaurants, hotels and others which also result in augmenting the growth of the skim yogurt market. Furthermore, raising use of conventional yogurt by consumer has further boosted the skim yogurt market growth.
Based on distribution channel, the market is divided into hypermarket/supermarket, specialty stores, convenience stores, online sales channel and others. The hypermarket/supermarket accounted for highest market share in 2021, and is expected to grow at a significant CAGR during the forecast period. Hypermarket/Supermarket is an extended version of conventional store with a self-service facility. It offers a wide variety of food and household products, especially categorized and organized in large shelves. It comprises of skim yogurt products, cosmetics products, food products and other packaged food items.
By region, Europe accounted for highest market share in 2021, and is expected to grow at a significant CAGR during the skim yogurt market forecast period.
Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report Byrne Dairy, Danone S.A., General Mills, Inc., GCMMF LTD, Juhayna, Muller Group, National Dairy Development Board, Nestlé, Rainy Lanes Dairy Foods Ltd., and Tillamook.
COVID-19 Impact Analysis
- Implementation of curfew and the practice of maintaining social distancing globally affect the domestic as well as international production, which in turn, hampers growth of the overall market.
- Import and export restrictions on goods and quarantine & lockdown measures imposed by governments are key challenges exporters are facing during this pandemic.
- Delays and disruptions at country borders have impacted the transportation and delivery of skim yogurt products.
- Disruptions in sales can also be seen from the demand side. All businesses face temporary closures except essential products and services. This leads to lower sales of skim yogurt.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the skim yogurt market analysis from 2021 to 2031 to identify the prevailing skim yogurt market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the skim yogurt market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global skim yogurt market trends, key players, market segments, application areas, and market growth strategies.
Skim Yogurt Market Report Highlights
| Aspects | Details |
 By Type |
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 By Nature |
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 By Distribution Channel |
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 By Region |
|
 Key Market Players | Muller UK and Ireland Group LLP, Juhayna Food Industries, Wallaby Yogurt Company, Gujarat Co-operative Milk Marketing Federation Ltd., Byrne Dairy, General Mills Inc., Tillamook Dairy Co-Op, Mother Dairy Fruit and Vegetable Pvt Ltd., Danone, Inc., Nestle S.A |
Analyst Review
According to the perspective of top-level CXOs, innovation is the key for the growth of the skim yogurt market, in terms of value sales. Rise in demand for various flavored skim yogurt products among customers makes way for the manufacturers to come up with organic skim yogurt products along with affordable prices and eco-friendly packaging. The CXOs further added that skim yogurt products contains a potential growth owing to its versatility to be consumed as breakfast, snack, or dessert and successful combination with healthy food including cereals, grains, nuts, and others. In terms of new product launches, yogurt drinks with no added preservatives and additives saw the highest activity. Moreover, consumption of skim yogurt helps in enhancing immune system and protects body from a variety of infections. Skim yogurt effectively fights against respiratory issues like common cold, flu & even cancer and gastrointestinal infections. Hence, diversified health benefits associated with skim yogurt further boost the market growth. Furthermore, increase in penetration of various online portals globally and rise in number of offers or discounts attract large consumer base to purchase skim yogurt products through online channels. Moreover, online sales channel has increased the consumer reach, making it the key source of revenue for many companies. In addition, increase in social media advertisement by skim yogurt manufacturers has further helped in increasing the consumer base in short period of time with minimum investment.
The introduction and development of plastic material along with combination of paper resulted in wide range of air tight containers for plain yogurt packaging which has further attracted the large consumer base.
Based on type, the skim yogurt market is bifurcated into plain yogurt, flavored yogurt and fruits yogurt. The flavored yogurt and fruits yogurt segments collectively accounted for around 79.6% market share in 2021
North America was the highest revenue contributor region, accounting for $1,808.1 million in 2021. Companies operating in the North American skim yogurt market are innovating new products to sustain in the competitive market. They are launching new products in order to expand their business operations across different countries in this region and increase their customer base.
The global Skim Yogurt Market was valued at $4,624.2 million in 2021, and is projected to reach $9,932.9 million by 2031.
Danone S.A., General Mills, Inc., GCMMF LTD, Juhayna, Muller Group, National Dairy Development Board, Nestlé are the leading competitors in on skim yogurt market in 2021.
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