Goat Milk Yogurt Market: Market Outlook
Goat milk yogurt is one of the most widely accepted dairy products globally. Goat milk yogurt is typically processed from whole goat milk and offers a soft texture with a sweet and salty flavor. Goat milk yogurt’s nutritional goodness and health halo are the major factors for its appeal. It is preferred by a majority of consumers to fulfill the demand for healthy foods. The increased consumer preference for goat milk yogurt is triggered by its convenience, portability, and its nutritional profile. It is scientifically proven that consumption of goat’s milk or goat milk products enhances the body’s ability to absorb important nutrients from other foods.
The dairy industry is expected to witness steady growth in the forecast period, owing to a number of factors. Changing consumer dietary preferences, rising populations, rapid urbanization, and increased disposable incomes are some of the major factors contributing to the steady growth of the dairy industry. A number of key trends such as increased food consumption outside the home, healthy snackification, and a surge in demand for functional foods have triggered the growth of goat milk yogurt globally. However, the increasing occurrences of lactose intolerance among consumers can prove to be a major restraining factor for the global goat milk yogurt market.
Goat Milk Yogurt Market: Market Dynamics
Health Benefits Associated with Goat Milk Yogurt to Drive Market Growth
High consumer preference for goat milk yogurt over cow milk yogurt is primarily triggered by its high digestibility and nutritional profile. Goat milk yogurt is loaded with essential nutrients including protein and calcium and packed with billions of probiotics. Consumption of probiotic-rich food products is considered to be an important strategy for overall health, as it plays a significant role in strengthening the immune system. Goat milk yogurt possesses anti-inflammatory properties that reduce inflammation in the human body. Goat milk yogurt is relatively less processed as compared to plant-based yogurts. It is processed with a slow fermentation process with a handful of simple ingredients.
Goat Milk Yogurt Market: Segmentation
Based on the flavor, the global Goat Milk Yogurt Market can be segmented as follows
Based on the sales channel, the global Goat Milk Yogurt Market can be segmented as follows
- Convenience Stores
- Specialty Stores
- Online Retail
Based on the region, the global Goat Milk Yogurt Market can be segmented as follows
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Goat Milk Yogurt Market: Key Players
Some of the key players engaged in the production of goat milk yogurt are Le petit chevrier, Glenisk Organic Dairy, Delamere Dairy, St Helen's Farm, Bellwether Farms LLC, Laura Chenel, Vistara Farms Private Limited, Redwood Hill Farm & Creamery, Courtyard Farms and few others.
Goat Milk Yogurt Market: Opportunities
The key players operating in the goat milk yogurt market are primarily focusing on the product development strategy to leverage business opportunities. The majority of the key players are taking efforts to identify and fulfill evolving consumer tastes and requirements to keep pace with the changing industrial landscape. They are focusing on four primary growth strategies including product development, market expansion, diversification, and market penetration. The key players work in support of New Product Development (NPD) teams to identify and display region-specific consumer needs. Manufacturers are also focusing on the utilization of innovative ingredients to expand product offerings.
Goat Milk Yogurt Market: Regional Outlook
Geographically, the European region is expected to dominate the goat milk yogurt market, owing to the well-developed food and beverage industry in this region. The high concentration of goat milk yogurt producers in this region is another factor contributing to the high market share of Europe in global goat milk yogurt. North America is expected to hold the second highest market share owing to the increasing demand for convenient and healthy food products. The developing economies of South Asia and East Asia are expected to witness a high growth rate in the goat milk yogurt market, owing to the increasing population. Rising demand for western dairy products such as natural snacks and fermented dairy products including yogurts and others are driving the goat milk yogurt market growth in this region.
Impact of Covid-19 on Goat Milk Yogurt Market
The outbreak of Covid-19 has shown significant negative impacts not only on public health globally but also on all stages of the value chain and supply chain of various industries. The food and beverage industry is anticipated to witness the differential impact of the pandemic on each stage of its supply chain in the form of the affected workforce at industrial levels, uneven raw material supply, trade and logistics, uncertain consumer demand at the foodservice chains, and demand-supply volatility. However, it is evident that that pandemic has encouraged consumers to stockpile food products in order to expand their food reserves. Hence, the spread of Covid-19 is anticipated to have moderate impacts on the growth goat milk yogurt market in the near term.
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