Yogurt Market

Yogurt Market size is forecast to reach USD 138 billion by 2027, estimated to grow at a CAGR of 10% during (2020-2027) attributed to rising awareness about the health benefits offered by yogurts.

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Key Drivers

Factors driving growth of Yogurt Market includes expansion of the retail industry, increasing consumers inclination towards adopting healthy lifestyles, rising prevalence of cancer, diabetes, and obesity around the world, growing demand for clean label products and improvements in the living standards. According to the report published by World Health Organization (WHO), at least 2.8 million people die every year as a result of being obese and obesity is more prevalent in prevalent in low- and middle-income countries, which is expected to push the demand for yogurt products in the approaching years. Consumers have started becoming more aware of what they eat and seek fresh products such as organic, natural, or minimally processed food and are ready to pay more for good quality food products over junk food items, which is expected to generate tremendous opportunities in the market.

Moreover, growing adoption of advanced technologies by manufacturers, increasing availability of yogurt platforms at online stores, rise in the launch of innovative flavors and rapid urbanization, are some of the additional factors supplementing the Yogurt Market size. In addition, the increasing investments by leading players on research and development, strategic mergers and collaborations between enterprises, Free Trade Agreements (FDAs) signed between countries, are further contributing towards the market growth. Yogurt is rich in protein, vitamins, calcium, and probiotics, improves gut microbiota, provides protection for teeth and bones, prevents digestive problems, and boosts the immune system of individuals, are some of the features propelling the market’s growth. However, harmful ingredients and additives present in the yogurt might hinder the market growth.

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Type: Segmentation Analysis

On the basis of Type, the market is segmented into set yogurt, greek yogurt, yogurt drinks, and frozen yogurt. Among these, Greek Yogurt segment is expected to witness a higher CAGR during the forecast period attributed to the increasing launch of multiple new products with a wide range of flavors such as mango, blueberry, strawberry, chocolate, honey, and others. These products support mental health, helps in building muscle mass, and reduces blood pressure, which fuels the growth of the segment.

On the other hand, Yogurt Drinks segment is projected to expand at a significant CAGR during the forecast period. As per the Yogurt Market Analysis, innovative and flavored yogurt drinks offered by companies, rising per capita incomes and growing population growth rates, are some of the factors propelling growth of the segment.

On contrary, Frozen Yogurt segment is anticipated to grow at a remarkable CAGR over the forecast period. Frozen yogurt helps in building gut health, reduces blood pressure levels, improves immune system, and contains live probiotic cultures, are some of the key features propelling growth of the segment.

Distribution Channel: Segmentation Analysis

Based on the distribution channel, market is segmented into supermarkets/hypermarkets, independent retailers, specialist retailers, convenience stores, others. Among these, Supermarkets/Hypermarkets segment would observe a higher CAGR during the forecast period. Hypermarkets and Supermarkets offer wide range of products at attractive discount offers, free home delivery options on certain purchases and provides different payment options, are some of the factors propelling growth of the segment.

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Regional Analysis

Based on region, North America is projected to lead the market during the forecast period attributed. Increasing consumption of low-fat dairy products, rising prevalence of diabetes and obesity across United states and Canada and introduction of new flavors of yogurt and growing demand for low-fat desserts, are pushing the market growth in North America.

On the contrary, Asia-Pacific is expected to witness a higher CAGR during the forecast period. Presence of the leading players such as Mother Dairy Fruit & Vegetable Pvt Ltd., and Amul, rising disposable income, growing demand for organic food products, easy availability of yogurt products at distribution channels, and high population growth rates, are augmenting the market growth in Asia-Pacific.

The major players operating the market include Mother Dairy Fruit & Vegetable Pvt Ltd, Lactalis Group, Amul, CoolBrands International Inc, Emmi Group, Saputo Inc., Dean Foods Company, Valio Ltd, Juhayna Food Industries, and Arla Foods.

Key Developments

• • In May 2018, Saputo Inc., decided to enter into an agreement to acquire the activities of Shepherd Gourmet Dairy (Ontario) Inc. (“Shepherd Gourmet”). Its activities are conducted at one manufacturing facility located in St. Marys, Ontario (Canada).
  • Finlandia Cheese, Inc., a subsidiary of Valio Ltd. in Helsinki, Finland, decided to change its name to Valio USA starting October 1, 2020. The new name will facilitate the company’s expansion into new, innovative categories by launching new, plant based Oddlygood™ vegan cheese alternatives to the USA market.
  • Baladna, a Qatar Public shareholding company acquired 5% stake in Juhayna Food Industries Company, through several purchases of share in the market.
  • In November 2021, the European dairy cooperative Arla Foods presented its new five-year strategy to create sustainable dairy production and to grow its business responsibly. In the next five years, Arla is prepared to enhance its investments by more than 40% to 4+ billion EUR, focusing on sustainability, digitalization, new production technologies and product development.
  • In May 2014, Mother Dairy Fruit & Vegetable Pvt Ltd, expanded its portfolio by introducing lassi or yogurt-based drink in two variants, such as Sweet Lassi and Masala Lassi in cup-style packs, to extend its footprint in the Indian market.
  • Amul launched almost 33 products and variants during lockdown. Till date, Amul has launched over 100 products across dairy and non-dairy categories since Covid in the Indian market and plans to expand its portfolio in the non-milk-based food categories.

Segments covered in the Report:

The global yogurt market has been segmented on the basis of type, distribution channel, and region. Based on type, the market is segmented into set yogurt, greek yogurt, yogurt drinks, and frozen yogurt. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, independent retailers, specialist retailers, convenience stores, and others.

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Key questions answered in this research report:

• • At what pace is global yogurt market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Yogurt market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global yogurt market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various distribution channels in global yogurt market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Yogurt Market by Type

• • Set Yogurt
  • Greek Yogurt
  • Yogurt Drinks
    • Regular
    • Flavored
  • Frozen Yogurt

Global Yogurt Market by Distribution Channel

• • Supermarkets/Hypermarkets
  • Independent Retailers
  • Specialist Retailers
  • Convenience Stores
  • Others (Online & Home Deliveries)

Global Yogurt Market by Region

• • North America Yogurt Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up
  • Europe Yogurt Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Distribution Channel
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Yogurt Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Distribution Channel
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Yogurt Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Yogurt Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Mother Dairy Fruit & Vegetable Pvt Ltd
  • Lactalis Group
  • Amul
  • CoolBrands International Inc
  • Emmi Group
  • Saputo Inc.
  • Dean Foods Company
  • Valio Ltd
  • Juhayna Food Industries
  • Arla Foods