Yogurt market size was valued at USD 97,999.5 million in 2020, and is estimated to reach USD 171,826.1 million by 2031, registering a CAGR of 5.5% from 2022 to 2031|Valuates Reports

Yogurt Market

Yogurt is a low calorie, low sugar, and digestive food product made from whole, low fat, or skimmed milk. Yogurt is manufactured in the form of non-dairy delicacies under the name of coconut yogurt and soy yogurt. It may consist of fermenting bacterial cultures, sweeteners, flavors, color additives, stabilizers, emulsifiers, and preservatives depending on the way of production. Various nutrients present in yogurt include good bacteria for digestive tract, protein, calcium, vitamin B2, vitamin B12, potassium, and magnesium. Set yogurt or plain yogurt is most versatile variety with an average of 100 to 160 calories per cup depending on its fat content. The flavored variety of yogurt ranges from simple vanilla with added sugar to different fruit flavored types available in the market.

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The cost-effectiveness and easy availability of raw materials, including milk used in the preparation of yogurt drive the market growth. Fruits, milk, sugar, flavors, and bacterial culture are some of the key ingredients used to prepare yogurt. Furthermore, rise in popularity of flavored and vegan yogurt along with frequent product launches by key players spur the growth of the market during the forecast period. Furthermore, the set yogurt segment accounted for highest market share in 2020, and is expected to grow at a CAGR of 4.4% during the forecast period. Asia-Pacific and Europe accounted for more than 74.1% of the global yogurt market in 2020 owing to the huge consumption of yogurt products in the region.
During COVID-19, people were focused on consumption of high nutritional food to increase immune system, which can lower the risk of chronic illnesses and infectious diseases. Thus, yogurt sales were increased in 2020. Yogurt contains immunity boosting nutrients that includes vitamin D.

The yogurt market segmented on the basis of type, flavor, source, distribution channel, and region. Depending on type, it is categorized into set yogurt, greek yogurt, yogurt drinks, and frozen yogurt. By flavor, it is bifurcated into plain and flavored. According to source, it is classified into dairy-based and non-dairy-based. As per distribution channel, it is fragmented into supermarkets/hypermarkets, independent retailers, specialist retailers, convenience stores, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and rest of the Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, and rest of the Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey, and rest of the LAMEA).

Asia-Pacific dominated the global yogurt market with largest market share and highest CAGR during the forecast period. This is attributed to huge production in different countries of the region, including China, Japan, and India. The primary drivers of the market include health benefits associated with consuming yogurt and increase in awareness among people for losing weight. Other factors supporting the market growth are expansion of retail market in various regions and lower lactose content for lactose intolerant people willing to eat dairy products.
However, artificial additives & ingredients, often added to the yogurt and hormonal treatment of cows that may cause fatal diseases restrict people from buying yogurt, thus, limiting the market growth. Growth in demand for yogurt in developing nations, owing to rise in disposable income as well as increase in health awareness is expected to provide numerous opportunities for the expansion of the global yogurt market.
Players operating in the global yogurt industry adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Arla Foods Amba, Britannia Industries Limited, Chobani, Llc, Danone, General Mills, Gujarat Cooperative Milk Marketing Federation (Amul), Lactalis Corporation, Nestle S.A., Saputo Inc., and Schreiber Foods Inc.

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KEY BENEFITS FOR STAKEHOLDERS

• The study provides an in-depth analysis of the global yogurt market with current trends and future estimations to elucidate the imminent investment pockets in the market.
• The report provides information regarding drivers, restraints, and opportunities with impact analysis.
• A quantitative analysis from 2020 to 2031 is provided to showcase the financial competency of the market.
• Porter's five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
• Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
• Competitive intelligence highlights business practices followed by leading market players across various regions.

Yogurt Market Segmentation

By Type

• Set Yogurt
• Greek Yogurt
• Yogurt Drinks
• Frozen Yogurt

By Flavor

• Plain
• Flavored

By Source

• Dairy Based Yogurt
• Non Dairy Based Yogurt

By Distribution Channel

• Supermarkets And Hypermarkets
• Convenience Stores
• Specialist Retailers
• Online Stores
• Others

By Region

• Europe
• Asia-Pacific
• North America
• LAMEA

Key Market Players

• Arla Foods Amba
• britannia industries limited
• Chobani, Llc
• Danone
• General Mills, Inc.
• Gujarat Cooperative Milk Marketing Federation (Amul)
• Lactalis Corporation
• Nestle S.A.
• Saputo Inc
• Schreiber Foods Inc

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