Yogurt Market Size
The Global Yogurt Market reached US$ 105.9 billion in 2022 and is expected to reach US$ 177.9 billion by 2031 growing with a CAGR of 6.7% during the forecast period 2024-2031. The yogurt market presents significant opportunities for growth due to the increasing consumer demand for healthier, plant-based options, innovation in flavors and formats, and the potential to tap into emerging markets with rising disposable incomes and evolving dietary preferences.
Yogurt is produced through the process of fermentation, where live bacteria cultures convert lactose into lactic acid, resulting in its characteristic tangy flavor and creamy texture. Yogurt cultures are the specific strains of bacteria, such as Lactobacillus bulgaricus and Streptococcus thermophilus, that are added to milk to initiate the fermentation process and transform it into yogurt, contributing to its unique taste, texture, and health benefits. Lactic acid bacteria play a crucial role in the production of yogurt, as they are responsible for fermenting the milk sugars (lactose) into lactic acid, giving yogurt its tangy taste, creamy texture, and contributing to its extended shelf life and potential health benefits. Yogurt processing involves several key steps, starting with the selection of high-quality milk that is pasteurized to ensure safety. Starter cultures play a vital role in the production of yogurt as they are responsible for initiating the fermentation process. Yogurt can be made from various types of milk, including cow's milk, goat's milk, sheep's milk, and plant-based alternatives.
Market Summary
| Metrics | Details |
| Market CAGR | 6.7% |
| Segments Covered | By Form, By Type, By Distribution Channel, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
Increasing Demand for Yogurt to Improve Overall Health
Health-conscious consumers are embracing low-fat desserts like yogurt as a guilt-free indulgence that satisfies their cravings while aligning with their wellness goals. Yogurt's creamy texture, combined with its lower fat content, offers a delectable treat that appeals to individuals seeking a lighter and healthier dessert option. The rising popularity of low-fat desserts reflects a shift in consumer preferences towards more balanced and nutritious food choices, promoting overall well-being.
Yogurt versatility allows it to be consumed as a standalone dessert, a base for smoothies, or as a topping for fruits and granola, making it an attractive option for creative and health-conscious consumers. The social media influence on healthy eating trends has contributed to the increased popularity of low-fat desserts like yogurt, with influencers and health advocates promoting its benefits and versatility. Yogurt's association with digestive health and its probiotic content have propelled its popularity, as consumers seek functional foods that offer both taste and health benefits.
The Increase in the Availability of Various Low Fat Yogurt Products Drives Market Growth
The availability of a wide range of flavors, including exotic and innovative options, has piqued consumer interest, driving the demand for low-fat yogurt desserts as a refreshing and enjoyable snack. As consumers become more aware of the potential negative health effects of excessive sugar and fat intake, they are actively seeking low-fat dessert alternatives, making yogurt an attractive choice.
Increase in the product launches by key players with low fat yogurt options drives market growth over the forecast period. For instance, On August 05 2021, Arla Foods launched a whey protein ingredient with high protein yoghurts in South American market. Nutrilac FO-7875 allows manufacturers to to develop drinkable and spoonable yogurts with high protein content. FO-7875 is rich in high quality protein and in low in fat.
Rising Use of Artificial Additives and Ingredients in Yogurt
The rising use of artificial additives and ingredients in yogurt is one of the major factors acting as a restraint in the market. Health-conscious consumers are becoming increasingly concerned about the potential negative health impacts associated with artificial additives, such as artificial sweeteners, colors, and flavors, leading to a decline in yogurt consumption. The demand for natural and organic food products has prompted consumers to scrutinize ingredient labels more carefully, discouraging the purchase of yogurt products containing artificial additives.
The perception that yogurt with artificial additives lacks the authenticity and purity associated with traditional yogurt-making processes has further contributed to this restraint. Regulatory agencies and health organizations are also imposing stricter regulations on the use of artificial additives in food products, including yogurt, reinforcing the shift towards cleaner and more natural options. As a result, manufacturers are facing the challenge of meeting the demand for healthier and additive-free yogurts to regain consumer trust and loyalty.
Market Segmentation Analysis
The global yogurt market is segmented based on form, type, distribution channel, and region.
Increase in the Consumers Demand for Frozen Yogurt due to its Health Benifits
The global yogurt market by form has been segmented by frozen yogurt, greek yogurt, set yogurt, yogurt drinks, vitamins and others.
The frozen yogurt industry is driven by several key factors that contribute to its growth and popularity. One significant driving factor is the increasing focus on health and wellness, as consumers seek healthier dessert options. Frozen yogurt is often perceived as a healthier alternative to ice cream, as it is typically lower in fat and calories. Frozen yogurt offers a range of health benefits, making it an attractive choice for individuals looking for a healthier dessert option. One of the main benefits of frozen yogurt is its lower fat content compared to traditional ice cream. It is often made with low-fat or non-fat yogurt, reducing the amount of saturated fats consumed.
Increase in the product launches by major key players helps to boost segment growth over forecast year. For instance, On June 07 2022, noosa yoghurt Launched noosa Frozen Yoghurt in the market. It is made with the creamy whole milk. The perfect indulgent treat may be found at noosa's Frozen Yoghurt Gelato, a new option on the frozen dessert aisle that bridges the gap between health-driven items and pure enjoyment.
Market Geographical Share
Increased Consumption of Yogurt in the North America
The North America yogurt market is a thriving and competitive industry characterized by a strong consumer demand for yogurt products. The region has witnessed steady growth due to several factors. The increasing emphasis on health and wellness has led to a rise in yogurt consumption, as it is perceived as a nutritious and convenient snack option. The market offers a wide range of yogurt varieties, including Greek yogurt, organic options, and lactose-free alternatives, catering to diverse consumer preferences. Additionally, the presence of established yogurt brands, innovative product offerings, and extensive marketing efforts have contributed to market growth.
The popularity of yogurt as a versatile ingredient in cooking and baking has further boosted its demand. With consumers' growing interest in natural and clean label products, manufacturers are focusing on product innovation, flavor experimentation, and packaging innovations to maintain their competitive edge in the North American yogurt market. For instance, On August 10, 2021, Danone’s Silk launched plant-based Greek yogurt in the market. It is thick, creamy and protein rich.
Yogurt Companies
The major global players include Ben & Jerrys, China Mengniu Dairy Company Limited, Chobani Inc., Dannon Yoplait, Deutsches Milkchkontor Gmbh, Emmi Group, FAGE, Grupo LALA, General Mills and Kemps.
COVID-19 Impact on Market
During the pandemic, there was a surge in demand for packaged and shelf-stable food products, including yogurt. Consumers stocked up on essential items, including yogurt, due to lockdowns and restrictions, leading to increased sales for the yogurt market. With more people staying at home and working remotely, there was a shift in consumption patterns. Breakfast and snacking occasions increased, leading to higher yogurt consumption as it is a popular choice for both.
Yogurt's versatility and convenience made it a preferred option for quick and nutritious meals and snacks. The closure of restaurants, cafes, and other foodservice establishments during lockdowns had a negative impact on the yogurt market. The reduced demand from the foodservice sector resulted in a decline in yogurt sales to these establishments. The yogurt market experienced supply chain disruptions due to lockdown measures, transportation challenges, and labor shortages. These disruptions impacted the availability of raw materials, packaging materials, and distribution networks, affecting the production and distribution of yogurt products.
Russia-Ukraine Impact Analysis
The political tensions between Russia and Ukraine have resulted in trade restrictions and disruptions. This affect the import and export of yogurt products between the two countries, leading to challenges in the yogurt market supply chain. The geopolitical tensions influence consumer preferences, especially in countries directly involved in the conflict. Consumers display patriotic sentiments and show a preference for domestically produced goods, including yogurt.
This could impact the demand for imported yogurt brands and create opportunities for local yogurt manufacturers. Geopolitical tensions create economic instability in the region, affecting consumer purchasing power and overall market conditions. Economic uncertainties and currency fluctuations can impact the affordability and demand for yogurt products.
Key Developments
- On January 15 2023, Cocoberry, a frozen yogurt brand launched its 2nd store in Kolkata.This launched of second store helps to fulfill consumers demand for the frozen yogurts demand.
- On June 30 2022, Danone, a leading food production company launched Greek Yogurt Range In India. It is available in the mango and blueberry flavors.
- On March 15 2021, MyFroyoLand, Indias yogurt brand now open in the Hyderabad. The company sells over over 100 brands such as butter cake, peach sorbet, blueberry cheesecake, chocolate cupcake and others.
Why Purchase the Report?
- To visualize the global yogurt market segmentation based on form, type, distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of Yogurt market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global yogurt market report would provide approximately 61 tables, 61 figures and 122 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
