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Global yogurt powder market set for steady growth, projected to reach USD 642 million by 2034

World 27.06.2024
Source: The DairyNews
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The global yogurt powder market is projected to achieve a value of USD 333.3 million in 2024, with expectations to grow to USD 642 million by 2034, reflecting a compound annual growth rate (CAGR) of 6.8% over the forecast period.
Global yogurt powder market set for steady growth, projected to reach USD 642 million by 2034

Sales of regular yogurt powder, valued for its high nutritional content, dominated with a 46% revenue share in 2023 and are anticipated to continue robust growth through 2034.

Several factors are driving the growth of the yogurt powder market. These include changing dietary preferences, increasing demand for convenient and healthy snacks, and a growing focus on health and wellness trends. Yogurt powder is gaining popularity due to its convenience and extended shelf life, contributing significantly to market expansion.

The rising awareness of health benefits associated with yogurt and yogurt-based products is a key driver. Consumers are increasingly drawn to yogurt powder for its probiotic content, believed to promote digestive health and overall well-being. This has spurred its integration into the food and beverage processing industry.

Yogurt powder is recognized for its rich nutritional profile, including potassium, vitamin D, phosphorus, protein, and calcium. Studies suggest potential benefits in osteoporosis prevention, aligning with global health concerns. According to the International Osteoporosis Foundation (IOF), approximately 200 million people worldwide suffer from osteoporosis, with significant prevalence among premenopausal women in the United States and Europe.

Regionally, Western Europe's yogurt powder market is forecasted to reach USD 232 million by 2033, growing steadily at a CAGR of 7.8% from USD 110 million in 2023. China is expected to record a CAGR of 7.4% from 2024 to 2034, reflecting increasing market demand. The United States market is projected to reach USD 114.2 million by 2034, indicating substantial growth potential.

In conclusion, the global yogurt powder market is positioned for robust growth driven by consumer health awareness and preferences for functional foods. Key players, including Nestle S.A., Danone S.A., General Mills, Inc., and Lactalis Group, are innovating with new product varieties enriched with vitamins, probiotics, and minerals. The market landscape is dynamic, marked by strategic initiatives such as mergers, acquisitions, and partnerships to enhance product offerings and market presence.

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