Global Industry Analysts Inc. (GIA) estimates that the global yogurt market will surpass US$67 billion by the year 2015.
NaturalProductsMarketplace.com reports that GIA says consumers will drive the growth with their increasing demand for convenient, health promoting products and probiotics.
In a press release the GIA reports that the dairy industry’s rapid growth is due to the growth in interest in functional products, such as those that are low in sugar, low in fat, reduce cholesterol and promote good gut health.
Among all functional foods, yogurt is considered to be the ideal medium to deliver functional ingredients such as probiotics.
The story reports that the GIA also says that products with the ability to improve immune system and enhance digestive functioning are expected to hold their ground.
Households with children constitute the segment with potential growth opportunities.
But, rising prices of refrigerated yogurt drinks are acting as deterrents, preventing consumers from making repeat purchases.
And low-cost substitute products such as kefir milk and smoothies are posing strong competition.