Nigeria Yogurt Drinks Market to Reach US$ 407.4 Billion by 2032, Bolstered by Launch of Innovative Product Variants

April 18, 2022 | Food & Beverages

The latest report by IMARC Group, titled “Nigeria Yogurt Drinks Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” finds that the Nigeria yogurt drinks market size reached US$ 168.5 Billion in 2023. A yogurt drink is a dairy product prepared by homogenization and fermentation of pasteurized milk using bacteria called Lactobacillus bulgaricus and Streptococcus thermophiles. Yogurt drink is a rich source of calcium, potassium, phosphorous, protein, zinc, iodine, pantothenic acid, vitamin B12, and riboflavin (B2). It is known to aid in healthy digestion, lower the risk of suffering from type 2 diabetes, protect against colorectal cancer, prevent and treat osteoporosis, enhance weight and fat loss, improve the immune system, and reduce blood pressure and bad cholesterol levels. Nowadays, yogurt drinks are gaining popularity among consumers in the form of probiotics, creamy, pulp-laced, and stirred yogurt.

Nigeria Yogurt Drinks Market Trends:

The market is primarily driven by the rising consumption of functional beverages among health-conscious consumers. In Nigeria, rapid urbanization and the improving living standards of individuals are also fueling the market growth. As a result, key companies are launching functional products fortified with omega-3 fatty acids, collagen, aloe vera, plant sterols, and soy isoflavones. They are also introducing new flavors, such as strawberry-banana, blueberry, coconut, carrot, beetroot, and tomatoes. Due to which, there has been a shift in the consumer preference toward yogurt as a snackable drink. Besides this, the Nigerian government is undertaking initiatives to create awareness regarding health and wellness among citizens. They are also facilitating health check-up camps to reduce malnutrition, especially among children, thus promoting the consumption of healthy and nutrient-rich drinks. Furthermore, the growing penetration of e-commerce platforms that offer door-step delivery services, numerous discounts, and secured payment gateways are also creating positive opportunities for the market players. Looking forward, the market value is expected to reach US$ 407.4 Billion by 2032, exhibiting a CAGR of 10.19% during the forecast period (2024-2032).

Market Summary:

Based on the type, the market has been segmented into regular, fat-free/low-fat, and flavored yogurt drinks.
On the basis of the distribution channel, the market has been classified into convenience stores/traditional stores, supermarkets and hypermarkets, and online.
The market has been categorized based on the packaging type into plastic bottles, tetra packs, and plastic pouches.
On the basis of the pack size, the market has been segregated into 200 ml, 500 ml, 1 liter, and others.
Region-wise, the market has been divided into North West, South West, North Central, South Central, North East, and South East.
The competitive landscape of the market has been examined, with some of the key players being Bobo Food and Beverages Limited, Cedar D' Vine Nig. Ltd., Chi Limited (The Coca-Cola Company), CWAY Group, Integrated Dairies Limited, Niyya Group, Olam International and Viju Industries.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion, ‘000 Tons
Segment Coverage	Type, Distribution Channel, Packaging Type, Pack Size, Region
Region Covered	North West, South West, North Central, South South, North East, South East
Companies Covered	Bobo Food and Beverages Limited, Cedar D' Vine Nig. Ltd., Chi Limited (The Coca-Cola Company), CWAY Group, Integrated Dairies Limited, Niyya Group, Olam International and Viju Industries
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Nigeria Yogurt Drinks Market to Reach US$ 407.4 Billion by 2032, Bolstered by Launch of Innovative Product Variants

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