Yogurt Market Overview:
Global Yogurt Market stood at $77,679 million in 2016, and is projected to reach at $107,209 million by 2023, growing at a CAGR of 4.6% from 2017 to 2023. Yogurt is a sourish food product, often sweetened or flavored, prepared via homogenization and fermentation of pasteurized milk. It is consumed in various forms such as beverage, snacks, meal replacement, dessert, protein-rich sports drink, and different other forms. The health benefits associated with eating yogurt include healthy digestion, lower risk of type 2 diabetes, protection against colorectal cancer, prevention & treatment of osteoporosis, enhanced weight & fat loss, improved immune system, and reduction of high blood pressure & bad cholesterol.
Annual Per Capita Yogurt Consumption
The approximate estimate of annual per capita yogurt consumption clearly indicates that European population has higher per person consumption than others. This factor makes the Europe yogurt market quite mature than other regions.
The global yogurt market is mainly driven by the health benefits associated with consuming yogurt and increasing awareness among people for losing weight. Other factors supporting the market growth are expansion of retail market in various regions and the lower lactose content for lactose intolerant people willing to eat dairy products. Some of the major players spreading awareness and promoting consumption of spoonable & drinkable yogurt include Yakult, Danone, Nestle, Chobani, and others. However, artificial additives & ingredients added in yogurt and harmful hormonal treatment of milk producing cow may limit people from consuming yogurt. Growth in demand for yogurt in the 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 yogurt market.
The report segments the global yogurt market based on type, distribution channel, and geography. By type, it is divided into set yogurt, greek yogurt, yogurt drinks, and frozen yogurt. The yogurt drinks segment is further fragmented into regular and flavored yogurt market. Based on distribution channel, it is categorized into supermarkets/hypermarkets, independent retailers, specialist retailers, convenience stores, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA and detailed description of the countries of respective regions.
Top Investment Pocket
Yogurt drinks market is the most lucrative segment of the global yogurt market, which possesses high market potential for investment, owing to the rise in demand and increase in awareness regarding its health benefits. Asia-Pacific is the fastest growing market for yogurt drinks, followed by North America.
Porters Five Forces Analysis
Bargaining Power of Suppliers, 2016
The set yogurt segment occupies the highest share in the global yogurt market. The raw materials involved in preparing yogurt generally include milk obtained from cow or goat, live & active bacterial cultures for fermentation, and different fruits & flavoring to enhance the taste. The product differentiation is moderate in the industry, leading to lesser switching cost. The presence of a large number of domestic and international raw material suppliers at low cost lowers the suppliers bargaining power. There is high threat of forward integration from suppliers in the market, which increases the bargaining power of suppliers. Considering the above factors, the bargaining power of suppliers is moderate, and is expected to remain as such during the forecast period.
Global Yogurt Market Geography Analysis
Asia-Pacific is the leading region, registering the highest CAGR of around 5.4% in the global yogurt market, which accounted for nearly half of the total market share in terms of value in 2016. North America was the second fastest growing region in the market owing to rise in consumption of yogurt in the U.S. & other nations due to alarming adult obesity rates. The Mexico yogurt market stood at $1,055 million in 2016, and is expected to reach $1,420 million by 2023, registering a CAGR of 4.3% during the forecast period.
Mexico Yogurt Market, 2016-2023 ($Million)
Key leading players operating in yogurt industry are Danone, Nestl, Parmalat S.p.A., Yakult, Chobani LLC, Yoplait, Arla Foods, Mller, Britannia Industries Limited, and FrieslandCampina.
The other players in the value chain include Mother Dairy, Lactalis, Amul, Emmi Group, CoolBrands International, Dean Foods, Saputo Inc., Valio Oy, Juhayna Food Industries, Nile Co for Food Industries (Enjoy), Centrale Laitire, Autres grandes firmes, SORIL, Groupe Poulina, Filippou Group (FAGE), Vivartia SA, and CERPL - Consorzio Emiliano Romagnolo Produttore Latte scar.
Key Benefits for Stakeholders
- This report provides an extensive analysis of the current trends and emerging estimations & dynamics of the global yogurt market.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Detailed analysis of the industry based on the type and distribution channel help understand the trending product type and other potential variants.
- Porters Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top players within the market framework.
Yogurt Market Key Segments:
- Set Yogurt
- Greek Yogurt
- Yogurt Drinks
- Frozen Yogurt
By Distribution Channel
- Independent Retailers
- Specialist Retailers
- Convenience Stores
- Others (Online & Home Deliveries)
- North America
- Rest of the Europe
- Rest of the Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of the LAMEA