The latest research studyNigeria Yogurt Drinks Market: Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027by IMARC Group, finds that the Nigerian yogurt drink market has reached a value of US$138 million in 2021. Looking ahead, IMARC Group expects the market to reach a value of US$247 million by 2027 presenting a CAGR of 10.17% during the period 2022-2027.
To note: We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Yogurt drinks are coagulated dairy drinks made by fermenting pasteurized milk with active cultures. They are rich in vitamins B6 and B12, protein, calcium, magnesium, potassium and riboflavin. These drinks are usually sweetened or flavored and come in different variations, such as creamy, probiotic, pulp, and stirred yogurts. They offer a variety of health benefits, including improving digestion, boosting the immune system, reducing the risk of type 2 diabetes, and improving tooth and bone health. As a result, yogurt drinks are widely consumed in the form of high protein drinks, desserts and sports drinks in Nigeria.
Nigeria Yogurt Drinks Market Trends and Drivers:
The Nigerian yogurt drink market is primarily driven by growing consumer health consciousness. Additionally, the growing demand for functional and nutrient-dense beverages like yogurt drinks that help boost immunity, especially amid the coronavirus disease (COVID-19) outbreak, represents another major driver of growth.
Additionally, major manufacturers are launching new product variations including low-fat, dairy-free and vegan products in many exotic flavors to cater to diverse consumer tastes and preferences. They are also adopting innovative packaging solutions, such as squeeze tubes, tetra packs, and bottles fitted with anti-choke caps to support on-the-go consumption and extend the shelf life of yogurt drinks, further accelerating product sales.
Other factors including easy availability of products through e-commerce platforms, supportive government initiatives, improving lifestyles, rising incomes, and rapid urbanization are also expected to catalyze the growth of the market.
Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we can provide it to you as part of the customization.
Nigeria Yogurt Drinks Market Analysis and Segmentation 2022-2027:
The competitive landscape of the market has been studied in the report with the detailed profiles of the major players operating in the market.
Bellytastes Foods and Culinary Services, Bobo Foods and Beverages Limited, Cedar D’Vine Nig. Limited, Chi Limited (The Coca-Cola Company), CWAY Group, Fan Milk Nigeria (Danone), Integrated Dairies, Niyya Group, Olam International and Viju Industries.
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The report has segmented the market based on region, type, distribution channel, package type, and package size.
Breakdown by type:
- Fat Free/Low Fat
Breakdown by distribution channel:
- Convenience stores/Traditional stores
- Supermarkets and Hypermarkets
- On line
Breakdown by type of packaging:
- plastic bottles
- Tetra Packs
- Plastic pouches
Breakdown by package size:
- 1 litre
Breakdown by region:
- North West
- South West
- South South
- South East
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