Yogurt Market by Type and Distribution Channel, Size, Share and Industry Analysis | Forecast 2023

Yogurt and its taste are healthy, varied and have a convenient taste and flavor. It contains healthy bacteria beneficial to the gut, so it is a great probiotic to promote weight management, digestion, absorption of vitamins and minerals. Yogurt can be packaged and shaped in a variety of ways, from cups, bathtubs, and tubes to drinking yogurt like kefir. It also cures or prevents diarrhea, constipation and bloating.

The global yogurt market is projected to reach at $107,209 million by 2023 from $77,679 million in 2016, growing at a CAGR of 4.6% from 2017 to 2023. The set yogurt type accounted for about one-third of the global market in 2016.

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A key driver of the global yogurt market is the health benefits associated with yogurt ingestion and elevation of attention from other local people for weight loss. A further fact that supports market growth is the growth in the retail market and the low lactose content of people who are not willing to eat dairy products. However, artificial additives and ingredients present in certain varieties of yogurt, along with bovine hormonal treatments that cause fatal diseases, can prevent people from consuming yogurt and limit market growth. Increased disposable income and health awareness are expected to increase opportunities in the global yogurt market as the demand for yogurt in emerging countries increases.

The hypermarket/supermarket segment is a major distribution channel that accounts for almost half of the yogurt market share and is the second fastest CAGR in the forecast period. This is due not only to increased retail sales in each region but also to large shelf space for maximum sales and customer selection.

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Yogurt is ingested in a variety of forms including beverages, snacks, dietary substitutes, desserts, and protein-rich sports drinks. In 2016, Yogurt occupies a major market with nearly one-third of its revenue share. This trend is expected to continue in the forecast period due to the probiotic characteristics and Omega 3 benefits of yogurt. The set yogurt segment occupies the second highest market share in 2016 and is expected to grow at an appropriate CAGR over the forecast period. Asia-Pacific and Europe accounted for more than 70% of the global yogurt market due to the tremendous consumption of yogurt products in this region in 2016.

In 2016, Asia-Pacific and North America collectively accounted for more than 70% of the yogurt market share, registering a lucrative CAGR and is anticipated to retain their position in the global yogurt market in 2023. This is attributed to the significant growth of the food & beverage industries in China, India, & other developing economies as well as the rising popularity of yogurt drinks in both the regions.

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