Saudi Arabia Yogurt Market size is estimated to reach $41 million by 2026, growing at a CAGR of 7.1% over 2021-2026. Yogurt is a semi-solid food made from milk and bacterial fermentation, such as Streptococcus thermophilus, lactobacilli, and riboflavin. Yogurt has been shown to offer a number of health advantages, including weight loss, reduced inflammation, lower blood pressure, and increased metabolic rate. Growing demand for plant-based yoghurts, rising demand for convenience foods, rising inclination towards sedentary lifestyle, rising incidences of lactose intolerance and lactose sensitivity, rising investment by key players, and rising awareness about the health benefits of dairy-free yoghurts are the factors anticipated to propel the market forward of the Saudi Arabia market for the forecast period 2021-2026.
Saudi Arabia Yogurt Market Segment Analysis – By Product Type
The Saudi Arabia Yogurt Market based on product type can be further segmented into drinkable and spoonable. The spoonable segment holds a major market share that is attributable to reasons such as an increase in the availability of diverse flavours, an increase in individual disposable money, and a growing desire for non-dairy yoghurts. Moreover, The industry is expanding as a result to rising demand for flavored spoonable yoghurts.
On the other hand, the drinable segment is estimated to register the fastest CAGR of 7.5% for the period 2021-2026. Factors such as rising beverage demand, increased knowledge of the health advantages of drinkable yoghurts, rising demand for drinkable yoghurts from athletes, and increased investment by big players are all contributing to this trend. Moreover, it is considered as a part of the diet that helps in improving immunity as well the gut health which is another major factor driving the segment growth. Over the projected period 2021-2026, growing incidences of lifestyle illnesses such as obesity and diabetes are expected to promote sector expansion.
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Saudi Arabia Yogurt Market Segment Analysis – By Distribution Channel
The Saudi Arabia Yogurt Market based on distribution channel can be further segmented into Hypermarket/Supermarkets, Specialty Stores, Online Retail and Others. The hypermarkets/supermarkets segment registers for the highest Saudi Arabia Yogurt market share in 2020. This is mainly owing to facts as these stores are incorporated with numerous alternatives and the availability of varieties of Saudi Arabia Yogurt from various brands. Furthermore, Saudi Arabia Yogurt sales by hypermarkets/supermarkets is believed to rise effectively as consumers prefer these retail channels for shopping owing to the in-store promotions by retailers and price comparisons is anticipated to further expand the consumption rate over the forecast period 2021-2026. On the contrary, the online retail segment is forecasted to register the fastest CAGR of 7.7% over 2021-2026. This is mainly owing to the fact that there is an increase in the number of online retail channels, especially in developing economies, which has augmented the penetration of modern grocery retail chains, further contributing to the sales of Saudi Arabia Yogurt in the up-coming years.
Saudi Arabia Yogurt Market Drivers
Increase Demand for Health Benefits
The Saudi Arabia Yogurt market driver is poised to be ascribed to consumers' increased awareness of a healthy lifestyle, as well as their increasing disposable income. Furthermore, greater health awareness, as well as increased demand for protein-rich meals and premium dairy product consumption, are significant drivers driving the country's dairy market's rise. Other important causes are rise in lactose intolerance and sensitivity among customers throughout the world has prompted manufacturers to expand their investment in non-dairy products, which is to boost the Saudi Arabia’s Yogurt Market's growth.
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Saudi Arabia Yogurt Market Challenges
Rise in Vegan Consumers
The growth in veganism and the plant-based dietary habits of the vegan community has resulted in a decrease in the use of dairy-based yogurt in Saudi Arabia. The use of artificial additives and ingredients in the yogurt products owing to the growing demand for natural products in convenience foods among the customers across the country however, is poised to stifle development of the country’s yogurt market during the forecast period 2021-2026.
Saudi Arabia Yogurt Market Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Saudi Arabia Yogurt market. In 2020, Saudi Arabia Yogurt market share is fragmented by the top ten players present in the market. The Saudi Arabia Yogurt market top 10 companies are Almarai Company JSC, Saudi Dairy & Foodstuff Co, National Agriculture Development Company (NADEC), Al Safi Danone LLC, Halwani Brothers Co, United National Dairy Co, Nada Dairy, Najran Dairy Co. Ltd, Arla Foods Middle East and Africa FZE and Marmum Dairy Farm LLC and others.
Key Takeaways
The Saudi Arabia dairy based yoghurt market is expanding due to rising demand for non-dairy yoghurts and the simple availability of a variety of flavours.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Saudi Arabia Yogurt Market report.
Artificial chemicals and additions are commonly employed which is set to create hurdles for the Saudi Arabia Yogurt Market.
Related Reports:
A. Flavored Yogurt Market
https://www.industryarc.com/Report/15009/flavored-yogurt-market.html
B. Lactose Free Food Market
https://www.industryarc.com/Report/7456/lactose-free-food-market.html
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