The whole concept of frozen yogurt and yogurt based other products were new before the entry of international as well as Indian yogurt service chain market in India. They were known of just Lassi and Buttermilk as drinkable yogurt. With the passage of time, especially in metro cities where there is lots of service chains of yogurt operates, became popular. This new concept has long way to go in the country.
According to report 'India Drinkable Yogurt Market Overview, 2017-2023' published by Bonafide Research, Drinkable yogurt market has contributed around 30% to the total pie of yogurt market in India. It is expected to grow at 18% of CAGR approximately from the year 2017-18 to 2022-23. India drinkable yogurt market is a combination of drinkable yogurt of packaged/retail market and service chain market. For the packaged /retail yogurt market drinkable yogurt includes Buttermilk, Lassi, Raita etc whereas for the service chain market it is yogurt based smoothies. In case of packaged/retail yogurt market, buttermilk has contributed more than double of Lassi at the end of review period i.e. 2016-17. Other form of drinkable yogurt is projected to increase its share by 0.44% during forecast period. In case of service chain market, Smoothies are going to increase by 17% of the CGAR from 2017-18 to 2022-23.
Traditionally the category has been dominated by co-operative players; there have been recent entries by both MNCs and smaller regional players which have led to an increase in availability of drinkable yogurt in the country. Furthermore, drinkable yogurt like buttermilk and Lassi were present in glass and tetrapak formats but recently players have introduced more convenient PET bottles in the category. These all have led by the savings in time and effort for preparing beverages like Chaas & Lassi at home. Other factors like preference for a hygienic and standardized product for on-the-go consumption and liking towards newer and richer flavours have also led the drinkable yogurt market to grow in India. In India, Health and wellness dairy drinks are currently limited to the probiotic form targeting the digestive health. Globally the young adult consumer segment is targeted with products on the benefit plank of nutrition & strength, vitality, etc. Innovation in packaging which is cheaper can lower the cost in turn lower the prices for the rural markets. Unlike the prevalent Tetrapak or bottle formats, which add significant cost of packaging, pouch packaging can be explored for these beverages.
Yogurt based smoothies offered by yogurt service chain are also healthier option. People may prefer smoothies over coffee in their leisure time which will also add growth to the drinkable yogurt market in India. Next period of development would witness market extension driven by fresher utilization events or enlisting newer consumers through products & packaging.
Major companies that operate into the Yogurt market in India are Gujarat Co-operative Milk Marketing Federation Limited, Mother Dairy Fruit & Vegetable Private Limited, Parag Milk Foods Limited, Karnataka Cooperative Milk Producers Federation, Nestle India Limited, Danone Foods and Beverages India Private Limited, Cocoberry Restaurants and Distributors Private Limited, Team24 Foods & Beverages Private Limited (Flavours24), Maez One Retail and Food Private Limited (Red Mango), Polo Foods QSR Private Limited
Report: India Drinkable Yogurt Market Overview, 2017- 2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast Year: 2022-23
Pages: 78, Figures: 20, Tables: 10
Bonafide Research & Marketing Pvt. Ltd.
Steven Thomas – Sales & Marketing Manager
Telephone: +91-265-6551309/ +91-7878231309