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2020

Greek Yogurt Market

Greek Yogurt Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, Flavor, Distribution Channel and Source : Global Opportunity Analysis and Industry Forecast 2020-2027

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Author's: Priya| Onkar Ambegaonkar & Roshan Deshmukh | Roshan Deshmukh
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The Greek yogurt market size was valued at $7.2 billion in 2019, and is projected to reach $11.2 billion by 2027, growing at a CAGR of 10.9% from 2020 to 2027. Products made by fermented milk have enhanced digestibility, new and unique flavors, added probiotics, vitamins, and minerals. These act as preservation products for a food that normally has a very short shelf life. Fermented milk is prepared through inoculation of culture and enzyme, which converts lactose to lactic acid. This inoculation and fermentation process of milk offers various ranges of products such as butter, cheese, yogurt, Kefir, and others. Yogurt is a famous food in this category. Due to the above-mentioned properties yogurt offers an array of health benefits. It is a major source of probiotic bacteria. During the conversion process, various substances are released, which include diacetyl, acetic acid, and acetaldehyde that help impart characteristic taste and aroma to the yogurt. These fermented dairy products not only impart taste but also provide texture and consistency to certain products such as dips and sauces. 

Greek-Yogurt-Market,-2020-2027

Consumers who are intolerant to lactose prefer fermented yogurt as it is easy to digest as compared to unfermented milk. Hence, there is an increase in the demand for yogurt among people suffering from lactose intolerance. Changes in consumption pattern among the consumers contributes toward the growth of the Greek yogurt market. The most significant health benefits offered by Greek yogurt is improved digestibility and the probiotic bacteria present in the product, which helps to suppress certain pathogens through its antibacterial property. Thereby, propelling the market growth. Greek yogurt is also considered to have anti- carcinogenic effect and may protect against certain cancers. Apart from health benefits, fermentation process helps to prolong the shelf life of the Greek yogurt. It also enhances the taste and aroma of the products. Rise in number of product launches is expected to drive the Greek yogurt market forecast. Development of new products with improved taste and versatility, along with high marketing support, leads to the launch of several new products in the recent past. The Greek yogurt market outlook is positive with the launch of several new products during the forecast period, and the Greek yogurt market is expected to experience growth during the forecast period.

Greek Yogurt Market
By Product Type
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Low-fat segment dominates the global market and is expected to retain its dominance throughout the forecast period.

However, selection of appropriate culture required for fermentation process of dairy products is a severe problem faced by the Greek yogurt manufacturers. As not every culture helps to extend the shelf life of the product. This restrains the Greek yogurt market growth. In addition, government regulation in certain countries regarding the permissible culture for fermentation process hampers the Greek yogurt market share. 

The Greek yogurt market is segmented into type, flavor, distribution channel, source, and region. By product type, it is categorized into whole milk, low fat, and nonfat. By flavor, it is classified into plain, strawberry, blueberry, vanilla, and others. By distribution channel, the market is divided into supermarket/hypermarket, convenience stores, online stores, and others. By source, it is bifurcated into organic and conventional. By region, the Greek yogurt market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Greek Yogurt Market
By Flavor
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Blueberry segment is expected to grow at a highest CAGR of 12.7% during the forecast period.

North America and Europe are known to be the dominant regions in the Greek yogurt market analysis. European countries have witnessed higher rate of traction for Greek yogurt owing to the increased demand from the consumers. Some of the key macroeconomic factors such as rise in health awareness and surge in per-capita income also play an important role in contributing toward the overall growth of the Greek yogurt market.

Greek Yogurt Market
By Distribution Channel
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Online Stores segment is expected to grow at a highest CAGR of 12.3% during the forecast period.

However, Asia-Pacific Greek yogurt market is expected to exhibit significant growth in the future, owing to rise in demand for different types of fermented milk products such as yogurt, butter, and cheese consumed in fast food products. In addition, the region has witnessed considerable surge in the number of millennials, who are the forefront consumers of fermented milk products. Therefore, rise in millennial population is anticipated to offer remunerative opportunity for the growth of the Greek yogurt market.

Greek Yogurt Market
By Source
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Organic segment is expected to grow at a highest CAGR of 18.6% during the forecast period.

Some of the key companies profiled in the Greek yogurt industry report include Chobani Global Holdings, Inc., FAGE International S.A, General Mills Inc.(Yoplait), Danone S.A., Stonyfield Farm (lactalis), Nestlé S.A., Unternehmensgruppe Theo Müller, The Hain Celestial Group (The Greek Gods), The Kroger Co., and Wallaby Organic.

Greek Yogurt Market
By Region
2027
Europe 
North America
Asia-Pacific
LAMEA

Europe dominates the market and is expected to grow with a CAGR of 10.5% during the forecast period

Key Benefits For Stakeholders

  • The report provides an extensive analysis of the current and emerging Greek yogurt market trends and opportunities in the market.

  • The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate the prevailing market opportunities.

  • A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.

  • An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.

  • The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.

Greek Yogurt Market Report Highlights

Aspects Details
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By Type
  • Whole Milk
  • Low Fat
  • Nonfat
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By Flavor
  • Plain
  • Strawberry
  • Blueberry
  • Vanilla
  • Others
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By Distribution Channel
  • Supermarket/Hypermarket
  • Convenience Stores
  • Online Stores
  • Others
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By Source
  • Organic
  • Conventional
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

THE KROGER CO., GENERAL MILLS, INC. (YOPLAIT), MULLER UK & IRELAND GROUP LLP, The Hain Celestial Group( The Greek Gods), CHOBANI, LLC., DANONE, PARMALAT S.P.A., WALLABY YOGURT COMPANY, FAGE INTERNATIONAL S.A., NESTLE S.A.

Analyst Review

The global Greek yogurt market is emerging at a considerable pace due to several factors such as people seek quick, tasty, flavored, and easy meal solutions, owing to busy lifestyle, which has increased the demand for processed food items. This in turn has increased the demand for packaged food, fast food, and ready-to-eat meals, thereby supplementing the growth of the Greek yogurt market. Moreover, factors such as high nutritional value and reduced storage and transportation costs fuel the demand for yogurt and other milk products.

The flavored yogurts mainly strawberry, and vanilla have gained popularity recently, as they have higher demand in the Greek yogurt category. However, presence of additives and stringent regulations related to strain of culture used in fermentation of milk limits the market growth.

Introduction of flavored Greek yogurts in various developing economies across the globe is also expected to boost the market growth. In addition, awareness among customer about the health benefits associated with the product, advertisement, and product launch by major players is expected to have positive impact on the market growth. 

Author Name(s) : Priya| Onkar Ambegaonkar & Roshan Deshmukh | Roshan Deshmukh
Frequently Asked Questions?

The global Greek yogurt market was valued at $7,279.6 million in 2019, and is projected to reach $11,296.8 million by 2027, registering a CAGR of 10.9% from 2020 to 2027.

The global Greek market was the valued at $7,279.6 million in 2019

Arrival of different flavors such as strawberry, bluberry, and fruit flavors are the newest trend in the Greek yogurt market that is driving the market growth.

The global Greek market is estimated to reach $11,296.8 million in 2026

The Greek yogurt market analysis is segmented into type, flavor, distribution channel, source, and region.

Some of the active players in Greek yogurt market include Chobani Global Holdings, Inc., FAGE International S.A, General Mills Inc.(Yoplait), Danone S.A., Stonyfield Farm (lactalis), Nestlé S.A., Unternehmensgruppe Theo Müller, The Hain Celestial Group (The Greek Gods), The Kroger Co., and Wallaby Organic.

The market will be forecasted for the period 2019-2026

Asia-Pacific region is expectd to exert more business opportunities in the coming years for the growth of Greek yogurt market and overall Greek yogurt industry.

Emerging countries such as India and China are likely to grow with a CAGR of 15.5% and 12.3% respectively

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Greek Yogurt Market

Global Opportunity Analysis and Industry Forecast 2020-2027