Global Yogurt Market Estimated to Hit $107,209 Million by 2023 - Competitive Analysis of Leading Industry Players Such as Danone, Nestle, Parmalat S.P.A., Yakult, Chobani LLC, Yoplait Profiled in this Report

The global market is projected to reach $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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Yogurt & its different flavors are a healthy, versatile, and convenient food with a characteristic richness and pleasant taste. It contains healthy bacteria beneficial to the gut, thus, it is a good probiotic facilitating weight management, digestion, absorption of vitamins & minerals, and more. Yogurt is available in different forms and packings in the market ranging from cups, tubs & tubes to drinkable yogurt such as kefir. It also cures or prevent diarrhea, constipation, and bloating.

The main drivers for the global yogurt market are the health benefits associated with consuming yogurt and rising alertness among people in different regions for losing weight. The additional facts that support the growth of the market are growth in the retail market and the low lactose content for lactose intolerant people willing to eat dairy products.

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Yogurt is consumed in many forms such as beverage, snacks, meal replacement, dessert, protein-rich sports drink, and more. In 2016, the yogurt drinks type occupied major market, in terms of revenue, with nearly one-third of the share. This trend is expected to be continued during the forecast period as well owing to the probiotic nature and omega 3 benefits offered by drinking yogurt. The set yogurt segment accounted for the second highest market share in 2016 and is expected to grow at a decent CAGR during the forecast period. Asia-Pacific and Europe accounted for more than 70% of the global yogurt market in 2016 owing to the huge consumption of yogurt products in the region.

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