U.S. Sales of Yogurt Drinks Soar to $893 Million in 2016U.S. Sales of Yogurt Drinks Soar to $893 Million in 2016
Yogurt sales have maintained a healthy pace as more consumers jump on the better-for-you bandwagon, however, new data from Mintel reveals sales of yogurt drinks have grown a robust 62 percent between 2011 and 2016 to reach a hefty $893 million.
October 12, 2016
Yogurt sales have maintained a healthy pace as more consumers jump on the better-for-you bandwagon, however, new data from Mintel reveals sales of yogurt drinks have grown a robust 62 percent between 2011 and 2016 to reach a hefty $893 million. According to the “Yogurt and Yogurt Drinks - US - August 2016" report, sales of drinkable yogurt are expected to grow 11 percent in 2016, making this the second straight year of double-digit gains.
It is important to note the spoonable yogurt segment continues to account for the majority of sector sales. Valued at $8.2 billion in 2016, spoonable yogurt represents an impressive 90 percent of all yogurt and yogurt drink sales and is expected to continue steady growth moving forward to reach $10 billion by 2021.
In terms of overall sales, the market for yogurt and yogurt drinks is forecast to grow three percent in 2016 to reach $9.1 billion, with total sales expected to reach $11.4 billion in 2021. Today some 66 percent of U.S. adults purchase spoonable yogurt, while 30 percent purchase yogurt drinks.
“While boom times ushered in by the novelty of Greek yogurt are fading, the yogurt category’s draw of convenient health, and the recent expansion of flavors and formats, helps retain interest and preserve participation in the market. Yogurt drinks are becoming increasingly popular among U.S. consumers, and as adoption of the yogurt drinks segment grows, so too does innovation. It’s one of the few food and drink spaces where launch activity sees brand-new products outpacing simple variations on form," said Beth Bloom, senior analyst, U.S. Food & Drink at Mintel.
When it comes to eating occasions, 93 percent of yogurt/yogurt drink consumers eat it for breakfast, but the market appears to be gaining ground in the snacking arena. In fact, 93 percent yogurt/yogurt drink users say that they consume these products as a snack. Mintel research reveals that more consumers are choosing yogurt as a snack today than in previous years as 84 percent choose yogurt as a morning or afternoon snack, up from 37 percent who chose it as a morning snack and 41 percent who snacked in the afternoon in 2014.
“A growing acceptance of yogurt as a snack creates huge opportunity for the market considering the importance of snacking in U.S. diets. As a result, we’re seeing product innovation expand to include formats that fit non-breakfast occasions, including savory and satiating varieties," Bloom said.
Well-being is a major driver for many U.S. yogurt consumers, with 43 percent buying yogurt for digestive health. Meanwhile, 23 percent of consumers buy yogurt for weight loss, and calcium ticks the box for 43 percent of female yogurt consumers compared to 37 percent of consumers overall. Interestingly, data indicates that full-fat options are popular among Millennials as they are the most likely (22 percent) demographic to purchased whole-fat yogurt/yogurt drinks (compared to 16 percent overall).
Full-fat varieties are seeing strong sales growth at natural channels, while non-fat options struggle, pointing to a growing acceptance of fat in food. As consumers appear increasingly interested in functional benefits from their food and drinks, communicating how yogurt and yogurt drinks can contribute to these health needs will be a means of standing apart from the crowd.
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