Albany, NY -- (SBWIRE) -- 06/25/2019 -- Though regular yogurt holds the largest share in the Latin American market, it is fat free yogurt that is witnessing a faster growth rate in terms of value sales due to the rising health consciousness among the consumers regarding its consumption. The increase in health consciousness among consumers has led to a change in the style of eating, and consumers are inclining towards healthy, minimally processed and nutritious food and beverages products. It is the nutritional portfolio of fat free yogurt that helps drive the demand for yogurt in Latin America.
In countries like Brazil, almost 85% of the population are lactose intolerant. Lactose intolerance is the inability of grown-ups and kids to digest lactose, a sugar found in milk and other dairy products, bringing about various ailments. As a result, consumers look out for lactose-free dairy products for consumption as there are several health benefits associated with these products. This has led to an increase in the demand for non-dairy yogurt.
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Asia Pacific excluding Japan to grab a major chunk of the global market pie
Asia Pacific excluding Japan (APEJ) remains one of the most prominent markets for food and beverage manufacturers globally. The region is home to the worlds leading food producers, importers, and exporters. There are opportunities galore as the region is also home to some of the worlds most populous countries. Satisfying the growing and evolving needs of such a large consumer base will entail new solutions. It is estimated that by 2050, the global population will reach nearly 10 billion, and a large percentage of this population will be based in APEJ.
According to the National Institutes of Health, 80% of both Asian and African people have lactose intolerance. Owing to the rise in number of lactose intolerance cases, consumers are looking out for lactose free dairy products for daily consumption. The Asian yogurt market has been well established since ages. Yogurt is believed to have originated thousands of years ago in Eastern Europe and Asia. However, due to the rapid rise in the lactose intolerant population, consumers are now switching to plant based yogurt having core ingredients such as soy milk, almond milk, and coconut milk among others.
North America to catch up in the near future
Consumption of milk in the U.S has been on the decline over the past few years, which is attributable to the rising prices of milk and the rise in number of health conscious consumers in the region. The lower consumption of milk is the result of an increase in the consumption of other beverages, challenging the dairy milk industry. Demand for non-dairy milk continues to increase at a significant rate as consumers perceive better alternatives to dairy milk, with an increasing number of adults and families opting for plant-based beverages. As the U.S. yogurt market matures, there are huge expansion possibilities for manufacturers in the area of probiotic and prebiotic yogurt products. Consumption of cultured dairy products especially yogurt has several health benefits such as treating obesity, type-two diabetics, heart diseases and certain types of cancer as well. There is a rising awareness regarding health and the consumption of these products in the North America market. As a result, cultured fluid products are expected to experience the strongest growth in terms of value over the forecast period.
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