The latest research study “Nigeria Yogurt Drinks Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the Nigeria yogurt drinks market reached a value of US$ 138 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 247 Million by 2027 exhibiting a CAGR of 10.17% during 2022-2027.
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Yogurt drinks are coagulated dairy-based beverages made by fermenting milk with microorganism cultures, such as Lactobacillus bulgaricus and Streptococcus thermophilus. They are rich in proteins, magnesium, riboflavin, calcium, vitamins B6 and B12, potassium, and other nutrients. They are commonly available in different varieties, including creamy, pulp-laced, stirred, and probiotic yogurt drinks. They offer numerous health benefits, such as reducing the risk of type 2 diabetes, boosting immunity, preserving bones and teeth, and controlling high blood pressure levels. As a result, yogurt drinks are gaining immense traction among the masses in Nigeria.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Nigeria Yogurt Drinks Market Trends and Drivers:
The Nigeria yogurt drinks market is primarily driven by the rising health consciousness among consumers. Additionally, rapid urbanization and rising consumer living standards are positively influencing market growth. Moreover, the shifting consumer inclination toward e-commerce platforms since they offer numerous yogurt drink options, doorstep delivery, discounts, and secure payment channels represents another major growth-inducing factor.
Furthermore, the government of Nigeria is taking favorable initiatives for creating health and wellness awareness. In line with this, the increasing number of health checkup programs to lower the risk of malnutrition, especially in children, has augmented the product demand. Besides this, the introduction of innovative product variants, such as low-fat, vegan, pulp-laced, and non-dairy, has catalyzed market growth.
Other factors, including the launch of yogurt drinks in exotic flavors, elevating demand for functional beverages, and advancements in packaging solutions, are also anticipated to create a favorable market outlook.
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Nigeria Yogurt Drinks Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Yogurt Drinks Companies:
Bellytastes Foods and Culinary Services, Bobo Food 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.
The report has segmented the market on the basis of region, type, distribution channel, packaging type and pack size.
Breakup by Type:
- Regular
- Fat-Free/Low-Fat
- Flavored
Breakup by Distribution Channel:
- Convenience Stores/Traditional Stores
- Supermarkets and Hypermarkets
- Online
Breakup by Packaging Type:
- Plastic Bottles
- Tetra Packs
- Plastic Pouches
Breakup by Pack Size:
- 200 ml
- 500 ml
- 1 Litre
- Others
Breakup by Region:
- North West
- South West
- North Central
- South South
- North East
- South East
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key 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
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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