Yogurt Market 2022-2031 : Emerging Trends, Growth Opportunities, Growth And Business Strategies

Yogurt industry generated $97.9 billion in 2020, and is anticipated to generate $171.8 billion by 2031, witnessing a CAGR of 5.5% from 2022 to 2031.

Rise in trend of sanctification of yogurt, consumer awareness regarding benefits of yogurt and dynamic changes in consumption pattern are likely to garner the growth of the market during the forecast period. Additionally, with the growing trend of veganism globally, the demand for non-dairy-based yogurt products is anticipated to grow at a faster rate.

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Health benefits associated with consuming yogurt, increase in awareness among people for losing weight, and expansion of retail market in various regions drive the growth of the global yogurt market. However artificial additives & ingredients added to yogurt and harmful hormonal treatment of milk producing cow restrict the market growth. Moreover, increase in demand for yogurt in developing nations, owing to rise in disposable income and surge in health awareness present new opportunities in the coming years.

Yogurt is healthy, versatile, and convenient food option with a characteristic richness and pleasant taste. It contains healthy bacteria that is beneficial for the gut. Thus, it acts as a good probiotic facilitating weight management, digestion, and absorption of vitamins & minerals. Yogurt is available in different forms, flavors, 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.

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The main drivers for the global yogurt market size are health benefits associated with consuming yogurt and rise in health-conscious people in different regions for losing weight. The additional facts that support the growth of the market are growth in retail market and low lactose content for lactose intolerant people willing to eat dairy products. However, the artificial additives & ingredients present in certain varieties of yogurt along with hormonal treatment of cows causing fatal diseases limit people from consuming yogurt, restricting the market growth. Rise in demand for yogurt in developing nations, owing to increase in disposable income and health awareness is expected to provide numerous opportunities for expansion of the global yogurt market.

Outbreak of COVID-19 positively impacted growth of the yogurt market in 2020. Snackification of the yogurt, rise in popularity for nutritional & immune boosting food, and increase in trend of eating food at home attributed to increased sales in 2020.

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The yogurt market is 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. According to flavor, it is bifurcated into plain and flavored. By 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 (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).

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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