Greek Yogurt Market Predicted to Grow at a CAGR of 10.9% from 2020 to 2027, Report

The global Greek yogurt industry was pegged at $7.2 billion in 2019, and is projected to reach $11.2 billion, growing at a CAGR of 10.9% from 2020 to 2027.

Increase in application of Green yogurt as functional food and growth in preference for clean-label have boosted the growth of the global Greek yogurt market. The online stores segment is expected to manifest the highest CAGR of 12.3% during the forecast period. On the other hand, the market across Asia-Pacific is expected to portray the highest CAGR of 12.7% during the study period.

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Global brands such as Danone, and Chobhani, LLC are bringing new line of innovative yogurts in their milk products range to provide different varieties of products for consumers, and producing healthy solutions. Innovative product offerings such as fully organic, no-sugar products, Non-GMO products, by private labels as well as global brands for specific target group such as ethnic population, working population, athletes, and children is increasing the regional demand for Greek yogurt. In addition, commercialization of different types of yogurt products in the global market is anticipated to provide revenue growth for the Greek yogurt market industry during the forecast period.

The Greek yogurt market holds a substantial scope for the market growth. The market is currently in its growth stage; however, its contribution to the global market is expected to increase significantly during the forecast period. Increase in demand of flavored yogurt has enforced the market to produce innovative products such as strawberry, blueberry, and vanilla flavors. Growth of the global population and rise in per capita income boost the market growth, thus increasing the production of dairy items. The change in taste and preference of consumers affected the sales in response to dietary concerns for manufacturers to develop differentiated products. Numerous players are entering the Greek yogurt market with innovative food products, using milk as their base. Emerging innovative food items are expected to increase the market competition in the years to come.

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The global Greek yogurt market is segmented on the basis of type, flavor, distribution channel, and geography. Based on type, the market is divided into whole milk, low fat, and nonfat. The low-fat segment held the largest share in 2019, accounting for one-third of the market. However, the non-fat segment is expected to register the highest CAGR of 12.2% during the forecast period.

The market across Asia-Pacific is expected to portray the highest CAGR of 12.7% during the study period. However, the global Greek yogurt market across Europe held the largest share in 2019, accounting for three-fifths of the market.

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The global Greek yogurt market report includes an in-depth analysis of the major market players such as Chobani Global Holdings, Inc., General Mills Inc.(Yoplait), FAGE International S.A, Stonyfield Farm (lactalis), Danone S.A., Unternehmensgruppe Theo Müller, Nestlé S.A., The Kroger Co., The Hain Celestial Group (The Greek Gods), and Wallaby Organic.

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