The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Drinking yoghurt is a key growth-driving category for dairy sales in Asia Pacific. The product’s popularity is based on meeting demand for healthy snacks, and is fuelled by wide distribution, particularly through direct selling. While Yakult remains the largest drinking yoghurt brand, thanks to its probiotic positioning and its direct selling reach across Asia, it is challenged by shelf-stable brands, which dominate in China, and may become the next growth driver in other emerging markets.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
As drinking yoghurt accounts for a considerably higher proportion of overall yoghurt sales in Asia Pacific than globally, it represented a major driver boosting dairy sales in Asia Pacific over 2012-2017. In Japan and some ASEAN markets, the popularity of drinking yoghurt is largely due to the strong presence of chilled probiotic drinking yoghurt brand Yakult, often available in retail channels and through direct selling. Yakult seeks to expand into new areas in China through grocery retailers, and target new market entries, notably Myanmar.
The availability and affordability of shelf-stable drinking yoghurt across various distribution channels and covering lower-tier cities led to a rapid increase in the popularity of drinking yoghurt in China. Following the success of the Bulgarian yoghurt brand Momchilovtsi, Greek-style yoghurt became the main growth driver, driven by the Ambrosial brand, thanks to its high-protein healthy snack perception. Beyond China, untapped demand for these products offers growth opportunities.
The greater sophistication and premiumisation in drinking yoghurt encompasses more specific health attributes and health claims, notably from Japanese players including Meiji, whose Probio PA-3 variant, which helps to prevent gout, targets middle-aged consumers. Manufacturers also seek to encourage regular consumption of drinking yoghurt beyond snacking occasions, for example by positioning it as a complement to breakfast cereals.
The internet retailing channel is set to continue providing growth avenues for drinking yoghurt to target new geographies, especially for shelf-stable brands, thanks to easier storage. For example, the Ambrosial brand entered new markets by focusing on internet retailing through marketplace sites such as Lazada.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.