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Probiotic yoghurt makers to strategise on vegan innovations, finds FMI
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Monday, 20 May, 2019, 16 : 00 PM [IST]
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Probiotic yoghurt sales closed in on $20 billion in 2018, which are likely to increase at a healthy pace over the coming years. A new research intelligence report of Future Market Insights (FMI) envisaged over six per cent Y-o-Y (year-on-year) growth in the probiotic yoghurt market revenues, in 2019. Spoonable probiotic yoghurt continues to attract more than three-fourth of the total revenues, when compared to drinkable probiotic yoghurt products.
Increasingly being perceived as a healthy snack owing to the presence of a balanced source of proteins, carbohydrates, fats, minerals, and vitamins, probiotic yoghurt is enjoying billowing sales prominently because of the gut-friendly flora that plays a crucial role in healthy digestion. The rich nutritional profile of probiotic yoghurt prominently supports weight loss, blood sugar and cholesterol regulation, and bone density improvement.
While these health benefits continue to elevate the scope of penetration for probiotic yoghurt and similar products, the widespread availability in a multitude of flavours is currently among the most significant factors boosting probiotic yoghurt sales in the market. Innovations such as mix fruit yoghurt, and high-fibre or high-protein yoghurt are likely to further translate into increase in the popularity of probiotic yoghurt among health-conscious population.
Sales of plant-based probiotic yoghurt to proliferate
“A majority of probiotic yoghurt consumption is animal-based,” according to the report. However, with the trends of vegetarianism and veganism significantly influencing sales of various F&B products, it is highly likely that the sales of probiotic yoghurt will remain impacted by these trends. The report suggested that the demand for plant-based probiotic yoghurt will rise in forthcoming years, on the back of robust popularity of animal-based probiotic yoghurt.
According to Genetics Home Reference, after infancy, about 65 per cent of the global human population has a decreased ability to digest lactose, which is a more commonplace condition across East Asia and Western Africa. Key players in the probiotic yoghurt market are thus focussing on developing plant-based probiotic yoghurt products to capture the expanding lactose-intolerant as well as vegan population.
R&D to remain key focus area for manufacturers
In the backdrop of intense competition among leading players active in the probiotic yoghurt industry, some of the key companies are focussing their strategies to align with the current market trends. The worldwide vegan population has showcased expanded for times between 2012 and 2017, which reflects a strong rate of growth in the trend of veganism. Augmenting investments in research and development of innovative vegan probiotic yoghurt will be thus an important strategy adopted by manufacturers, according to the FMI study.
Low-sugar and low-fat products to attract wider consumer base
With the increase in health-awareness among consumers, there has been a significant change in the lifestyle and consumption patterns. Consumers are demanding product insights and specifications to keep a track of their calorie intake. Moreover, the preference low-sugar and low-/no-fat products is increasing. At the same time, compromise on the taste. Thus, key market players are trying to develop low-fat and zero-fat probiotic yoghurt in a variety of different flavours to enlarge their customer base.
FMI’s analysis indicated that besides Europe and North America, the probiotic yoghurt market in China has also been demonstrating impressive growth scenario over the recent past. Whereas the evolving dietary patterns and rising consumer proclivity for nutritionally-rich food products is highly likely to account for the strong demand growth outlook estimated for the Asia-Pacific region.
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