Global Yogurt Market Trends, Demand, Development, Leading Key Players and Forecast

Global Yogurt Market stood at $77,679 million in 2016, and is projected to reach at $107,209 million by 2023, growing at a CAGR of 4.6% from 2017 to 2023.

Yogurt is a sourish food product, often sweetened or flavored, prepared via homogenization and fermentation of pasteurized milk. It is consumed in various forms such as beverage, snacks, meal replacement, dessert, protein-rich sports drink, and different other forms. The health benefits associated with eating yogurt include healthy digestion, lower risk of type 2 diabetes, protection against colorectal cancer, prevention & treatment of osteoporosis, enhanced weight & fat loss, improved immune system, and reduction of high blood pressure & bad cholesterol.

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The other distribution channels is the fastest growing segment, comprised of online stores and home deliveries as these are more convenient for consumers. Also, rise in fitness concerns of people has led to robust sales of yogurt due to high protein content and several health benefits offered by it.

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 rising popularity of yogurt drinks in both the regions.

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Major companies profiled in the report include Danone, Nestl, Parmalat S.p.A., Yakult, Chobani LLC, Yoplait, Arla Foods, Mller, Britannia Industries Limited, and FrieslandCampina.

Key Findings of the Yogurt Market:
Yogurt drinks segment is projected to witness the highest CAGR of 5.7% in revenue terms during the forecast period.
Asia-Pacific is expected to be the dominant shareholder in 2023, due to high growth rate of population and yogurt products demand.
Supermarket/hypermarket segment occupied the largest market with almost half of the value share in 2016, and is expected to grow at the second highest CAGR of 4.9% during the forecast period.
The regular subtype of the yogurt drinks segment accounted for higher market share and is anticipated to grow at a faster rate than flavored yogurt drink during the forecast period.
Frozen yogurt type is anticipated to be the second highest growing segment at a lucrative CAGR from 2017 to 2023, in value terms.

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