Ever expanding drinking yogurt market of Latin America: Ken Research
Posted on 31 August 2016 by KenResearch Food and Beverage,
Key topics covered in the report
- Current economic scenario of Latin America
- The quantitative data in the report provides historic and forecast Drinking Yogurt consumption data by country in Volume (M Liters).
- Top level Drinking Yogurt consumption actual data for 2010-2014, provisional data for 2015; while forecasts are provided for 2016-2021 across 17 individual countries.
- Major market players of the drinking yogurt market of Latin America.
Ken Research has recently announced latest publication titled “Drinking Yogurt Consumption Volume and Growth Forecast to 2021”, which aims at providing in-depth market analysis of drinking yogurt market of Latin America. Further, the quantitative data in the report provides historic and forecast Drinking Yogurt consumption data by country in Volume (M Liters).This report includes top level Drinking Yogurt consumption actual data for 2010-2014, provisional data for 2015; while forecasts are provided for 2016-2021 across 17 individual countries. It provides a top-level overview and detailed insight into the operating environment for the Drinking Yogurt market in Latin America. It is an essential tool for companies active across the Drinking Yogurt value chain and for new players that are considering entering the market.
Economy of Latin America
Latin American countries covered in the report include Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, and Venezuela. Latin America is facing bleak economic growth because of immense economic turbulences. Negative growth rate is recorded in countries like Brazil and Venezuela. Political disputes in Brazil, inflationary pressures in Uruguay, economic tribulations in Chile, serious recessionary conditions prevailing in Venezuela shows the economically backward state of Latin American countries. Unemployment, rising inflation, economic slowdown, falling consumer confidence, poverty, corruption, etc. are the traits of Latin American economies. Only Peru and Mexico are performing well in Latin America, growing steadily at positive rate. However, many economic analyst predict rapid growth and stability in major economies of Caribbean Nations post-2016.
Historic and current market trends of drinking yogurt market of Latin America
The report considers, Drinking Yogurt as a yogurt thinned by homogenization and/or dilution; normally flavored; may contain coloring, sweeteners, and stabilizers which are probiotic yogurt drinks and smoothies. Earlier yogurt was consumed in its actual form but in last twenty years, various innovative varieties of yogurts have been introduced to Latin American market laden to vast expansion of this sector. Probiotic curd, frozen yogurt, soy yogurt, low fat variety, flavored yogurt are some of the most popular varieties in the market. With rising population demand for yogurt and other dairy products are also increasing in Latin American market.
Various recent consumer and market trends are listed below:
- Since increasing obesity is serious threat in Latin America, people are demanding variety of low fat yogurt for meal replacement. Further, aggressive heath campaigns are making people to switch from unhealthy eating habits to healthy practices, this is why demand for drinking yogurt is soaring in Latin America.
- Demand for flavored yogurt with low sugar content is increasing.
- Since veganism is increasing in Caribbean Nations, people are looking for dairy free alternatives. As a consequence, demand for soy yogurt is increasing substantially.
- Since gourmet food items are gaining admiration throughout the Latin American region, demand for Greek yogurt, yogurt with expensive berries and nuts, yogurts with exotic flavors is rising.
Thus, we can easily see that demand for drinking yogurt is skyrocketing and market is becoming larger every single day. This is because of major key drivers in drinking yogurt market of Latin America are:
- Rising population
Population explosion in the region has led to massive increase in demand for dairy products in Latin America which is not only enlarging market size but also increasing supernormal profits of the industry.
- Health awareness campaigns
Due to rising obesity many health awareness campaigns were launched in Latin America with encouraged the consumption of yogurt for good health and optimum nutrition. As a consequence, demand for low fat, calorie and sugar yogurt is increasing. Further, probiotic yogurt demand is also escalating because of its health benefits.
- Marketing strategies
Companies are now specifically targeting health market and kids market. As far as kids market is concerned, numerous appetizing flavors are launched in market with appealing packaging. Further, tetra pack packaging is also becoming extremely popular since it increases shelf life of yogurt. Aggressive marketing campaigns has also played a significant role in elevating demand. Further, numerous new channels of sales and distributions are introduced which are further contributing to enhancement in sales.
- Global influences
Since people are introduced to different cuisines after globalization and via. Social media thus, demand fancy and extravagant yogurt products is mounting. Demand for Greek yogurt, yogurt with expensive berries and nuts, yogurts with exotic flavors is rising.
Major market players
Chobani is the largest drinking yogurt brand in Latin America. Many other brands like Brazil’s Batavia S.A., Brazil’s Coorporativa itambe, Argentina’s Sancor Cooperative Unidas Ltd. Are few brands that are successfully producing drinking yogurt in Latin America.
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Ankur Gupta, Head Marketing & Communications