Yogurt Market Research, 2031
The global yogurt market was valued at $97,999.5 million in 2020 and is projected to reach $171,826.1 million by 2031, growing at a CAGR of 5.5% from 2022 to 2031.
Yogurt is a sour, often sweetened or flavored dairy product prepared by homogenization and fermentation of pasteurized milk. It is consumed in various forms, including beverages, snacks, meal replacement, dessert, and protein-rich sports drinks. Health benefits associated with eating yogurt include healthy digestion, low risk of suffering from type 2 diabetes, protect against colorectal cancer, prevent & treat osteoporosis, enhance weight & fat loss, improve immune system, and reduce high blood pressure & bad cholesterol.
The global yogurt market is mainly driven by the 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. Some of the major players spreading awareness and promoting consumption of yogurt include Yakult, Danone, Nestle, and Chobani. However, artificial additives & ingredients added to yogurt and harmful hormonal treatment of milk producing cow limit people from consuming yogurt. Conversely, growth in demand for yogurt in developing nations, owing to rise in disposable income and increase in health awareness are expected to provide numerous opportunities for the development of the global market.
The 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. By flavor, it is bifurcated into plain and flavored. According to source, the 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).
Depending on type, the set yogurt segment dominated the market, with $32,496.3 million in 2020, and is estimated to reach $50,491.8 million by 2031, at a CAGR of 4.4% during the forecast period. The set yogurt segment dominated the global yogurt market. Set yogurt is allowed to set in pot, hence is firmer than other yogurts, maintaining its creamy and smooth texture. The raw materials used for preparation of yogurt include milk obtained from cow or goat, live & active bacterial cultures for fermentation, and different fruits & flavors to enhance the taste. Easy availability of raw material, rise in awareness about healthy food, increase in health-conscious young population base boost the set yogurt market growth.
According to the flavor, the plain segment was the highest contributor to the market, and is estimated to reach $116,698.4 million by 2031, at a CAGR of 5.2% during the forecast period. Non-flavored yogurt is popular in food services industry to improve taste and texture of processed food. In addition, availability of yogurt with high nutritional value, high protein content, and frequent product launches & product innovations are projected to drive the growth of global yogurt market size throughout the forecast period.
As per the source, the dairy-based segment was the highest contributor to the market, and is expected grow at CAGR of 5.4% during the forecast period. Dairy-based segment is popular in the global yogurt market and is expected sustain its traction during the forecast period. This is majorly attributed to popularity of the dairy-based food products and its cost-effectiveness compared to non-dairy-based food products. Furthermore, the growth in production of the animal milk, which is the base ingredients for yogurt favor the growth of the market.
By distribution channel, the supermarkets/hypermarkets segment was the highest contributor to the market, with $37,328.2 million in 2020, and is estimated to reach $59,586.9 million by 2031, at a CAGR of 4.6% during the forecast period. Improved standard of living, due to considerable increase in disposable income along with influence of western culture contributes to the popularity of supermarkets and hypermarkets. The share of yogurt and yogurt fortified product brands in supermarkets and hypermarkets are expected to witness substantial growth during the forecast period. However, selection of products is easier for customers, owing to wide range of brands available under single roof.
Region wise, Asia-Pacific gained highest yogurt market share and is expected to sustain its share throughout yogurt market forecast period. Rise in demand for probiotic range of products and its ability to enhance metabolism, digestion, and immune system is expected to boost the growth of the Asia-Pacific yogurt market during the forecast period. In addition, yogurt is consumed as dessert and offered in varieties, including fruit yogurt, organic yogurt, and drinkable yogurt. The popularity for fruits flavored yogurt has accelerated the growth of the market in Asia-Pacific.
Players operating in the global yogurt industry have 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.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the yogurt market analysis from 2020 to 2031 to identify the prevailing yogurt market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the yogurt market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global yogurt market trends, key players, market segments, application areas, and market growth strategies.
Yogurt Market Report Highlights
| Aspects | Details |
 By Type |
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 By Flavor |
|
 By Source |
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 By Distribution Channel |
|
 By Region |
|
 Key Market Players | Chobani, Llc, britannia industries limited, General Mills, Inc., Lactalis Corporation, Schreiber Foods Inc., Gujarat Cooperative Milk Marketing Federation (Amul), Nestle S.A., Saputo Inc, Danone, Arla Foods Amba |
Analyst Review
Health and wellness is important factor that determines the growth of the global yogurt market. Yogurt can be consumed as breakfast, snack, or dessert, due to its versatility and successful combination with healthy food including cereals, grains, nuts, and others. In terms of new product launches, yogurt drinks with no added preservatives and additives experienced the highest sales. In addition, a shift in consumers’ interest from flavored yogurt to fruit-flavored and plain ones is observed as the latter two are considered more beneficial to health. These factors indicate the strong performance of organic yogurt products during the forecast period.
Supermarkets and hypermarkets segment is the most prevalent distribution channel responsible for the highest yogurt sales occupying about half of the market share. In addition, other distribution channel segments, including online stores and home deliveries are the fastest-growing segment during the forecast period.
Asia-Pacific is the leading region in terms of consumption of different kinds of yogurt products, owing to huge production & demand in China, Japan, and India. Furthermore, this region is anticipated to grow at the highest CAGR, owing to rapid development of food & beverages sector and increase in the health-conscious population. North America is expected to account for the second-highest CAGR in the global yogurt market, due to increase in market for yogurt drinks and a high rate of obesity. The developed region of Europe has a relatively higher growth rate in the global yogurt market.
The global yogurt market size was valued at $97,999.5 million in 2020.
5.5% is the CAGR of yogurt market.
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2022-2031 would be forecast period in the yogurt market report.
Arla Foods Amba, Britannia Industries Limited, Chobani, Llc, Danone, General Mills and Gujarat Cooperative Milk Marketing Federation (Amul) are some of the top companies in the yogurt market.
Type, flavor, source, distribution channel, and region. are the segments of yogurt market.
India yogurt market was valued at $12,494.0 million and expected to grow at CAGR of 7.4% during the forecast period.
Asia-Pacific will dominate the market by the end of 2031.
COVID-19 has witnessed minimal impact on growth of the market.
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