Slideshow: The innovations in yoghurt culture
Kansas City According to Technavio, the global yoghurt market is expected to expand by $26.08 billion at a compound annual growth rate (CAGR) of 5.36% between 2019 and 2023. The primary cause of this acceleration is and will remain the segment’s new product launches.
According to Technavio, “one of the crucial trends gaining traction in the market is the introduction of new flavours and product innovations.” The market’s awareness, adaptability, and availability of novel and inventive yoghurt flavours are all rising as a result of the growing number of product launches. New product launches are the main driver of the market’s expansion since they boost vendors’ income streams and broaden their customer base. Vendors are thus concentrating more on cutting-edge product introductions in order to draw in more clients. Market participants are growing their sales by introducing new items in order to meet consumer demand, which is fostering the market’s expansion.
New yoghurt products are starting to come out with inventive flavours, healthier options, and plant-based, dairy-free yoghurt substitutes.
“To accommodate the growing number of people who are lactose intolerant, vendors are introducing new and healthy formulations of yoghurt, such as lactose-free yoghurts, in addition to exotic new flavours,” Technavio stated. “Instead of utilising dairy products, these goods are made with soy milk and coconut milk. The yoghurt market is expected to develop at a compound annual growth rate (CAGR) of more than 5% during the projected period, according to market analysis.