Yoghurt Market: Indian Size, Share, Outlook, Overview, Key Payer & Forecast by 2023
The flavoured and frozen yogurt market in India has witnessed a healthy growth over the past several years. This can be attributed to the high nutritional value of frozen yogurt coupled with the changing preferences of the consumers.
The recently published report by IMARC Group, titled “Flavoured And Frozen Yogurt Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the Indian flavoured and frozen yogurt market reached of INR XX Billion in 2017, registering a CAGR of around 27% during 2010-2017. Frozen yogurt refers to a mixture of yogurt, milk and cream which is enjoyed as a snack or dessert by people of all ages. Some of the common frozen yogurt flavours include strawberry, banana, vanilla, blueberry, honey and mango. Similar to regular yogurt, it is a rich source of fatty acids, riboflavin and vitamin B12, protein, phosphorus and selenium. Owing to the presence of these nutrients coupled with a lower calorie content, frozen yogurt has emerged as a popular alternative to ice-cream and other milk-based desserts in India. The demand for flavoured and frozen yogurt has further been boosted by increasing western influences on the consumers.
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Indian Flavoured and Frozen Yogurt Market Trends:
On account of increasing awareness, the Indian consumers are preferring frozen yogurt variants with exotic flavours and low amounts of fat, sugar and calories. In line with the changing preferences, the manufacturers are introducing innovative products such as bio, organic and fruit yogurt. Moreover, a shift in the dietary habits towards nutrient-rich snacks, especially among the urban and young consumers, along with rising inclination towards ready-to-eat products have created a positive impact on the growth of the market. In addition, numerous flavoured and frozen yogurt chains and standalone retailers have also emerged in the region, which offer high-quality products targeted at the affluent consumers. Some of the other factors driving the growth of the market include easy product availability, expanding organized retail channels and untapped opportunities in rural areas. Looking forward, the market is projected to reach a value of INR XX Billion by 2023, at a projected CAGR of XX% during 2018-2023.
Indian Flavoured and Frozen Yogurt Market Summary:
On a geographical front, Maharashtra represents the largest market for flavoured and frozen yogurt in India, accounting for the majority of the total share. It is followed by Tamil Nadu and Delhi. Other major regions include Karnataka, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar and Orissa.
The market is characterized by the presence of both regional and international players who compete in terms of prices, quality and product offerings. Some of these players include Amul, Mother Dairy, Nestlé and Danone.
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