Market Snapshot
| Study Period: | 2016 -2027 |
| Base Year: | 2021 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | Asia Pacific |
| CAGR: | 4.8 % |
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Market Overview
The yogurt market is projected to register a CAGR of 4.8% during the forecast period (2022 - 2027)
COVID-19 had a short-term positive impact on the retail yogurt market. As per a survey conducted by Natural Marketing Institute in May 2020, probiotic consumption witnessed an exponential surge. The survey concludes that the number of United States consumers taking probiotics increased by 66%. Among the probiotic segment, yogurt products witnessed a dynamic growth rate.
Over the medium term, the demand for yogurt is fueled by the factors like increasing awareness among people to lose weight, raising awareness about the importance of healthy food, the health benefits of the yogurt, and the availability of numerous flavors. This is making the manufacturers concentrate on developing products with innovative flavors and health benefits.
Drinking yogurt is able to ideally meet consumers' three key product demands: health, mobility, and convenience. As a practical alternative to yogurt cups and spoons, yogurt drinks come in resealable carton packs and are provided with a convenient drinking straw, making it an ideal snack for people to have on the go. With the growing trend of veganism globally, the demand for non-dairy-based yogurt products is anticipated to grow at a faster rate in the forecast period.
Scope of the Report
Yogurt is a food product produced by the bacterial fermentation of milk. It is consumed as a beverage, dessert, sports drink, and other forms. The yogurt market is segmented by type, including spoonable yogurt and drinkable yogurt. Based on the category, the market is divided into dairy-based and non-dairy-based yogurt. By flavor, the market is segmented into plain yogurt and flavored yogurt. By distribution channel, the market can be segmented into foodservice channels, hypermarkets/supermarkets, convenience stores, online retail stores, and other distribution channels. The report further analyses the global scenario of the market, which includes a detailed analysis of North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. The report offers market size and forecasts in value (USD million) for the above segments.
| By Type | |
| Spoonable Yogurt | |
| Drinkable Yogurt |
| By Category | |
| Dairy-based Yogurt | |
| Non-dairy-based Yogurt |
| By Flavor | |
| Plain Yogurt | |
| Flavored Yogurt |
| By Distribution Channel | |
| Foodservice Channels | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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Key Market Trends
Growing Demand for Probiotic Food and Beverage
The high prevalence of digestive disorders drives the demand, for probiotic foods, across various consumer groups globally. Yogurt, in both spoonable and drinkable form and in different flavors, is the most preferred probiotic food. The progressive shift of consumers in the United States toward digestive health-oriented products drives the market for probiotic food products. This has led yogurt to hold a major share in the sales value of the probiotics market in the country. According to the International Probiotics Association (IPA), China accounts for nearly half of the sales revenue in the Asia-Pacific probiotic food market. Almost 90% of dairy-based probiotic food and beverage were consumed in China, and dairy-based yogurt held a prominent share driving the market.
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Asia-Pacific is the Largest and Fastest-growing Market
Consumption of yogurt across the Asia-Pacific market is on the rise because of its probiotic range of products, and its ability to improve metabolism, enhance digestion, and support the immune system. Yogurt is also consumed as dessert. It is offered in varieties, such as fruit yogurt, organic yogurt, and drinkable yogurt, which are well received by the consumers. For example, yogurt products are part of the Indian food culture, and this is expected to continue in the forecast period, mainly due to its health benefits. China and Japan are among the largest markets for yogurts in the Asia-Pacific region, while Australia and India are experiencing a heightened awareness of yogurts’ health benefits, thus driving their growth.
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Competitive Landscape
The yogurt market is a highly competitive market, with the presence of various international players. The major players in the market are extensively focusing on providing consumers with innovative and exotic flavors while including functional benefits in each of the yogurt product categories. Danone SA, Chobani LLC, General Mills Inc., Nestlé SA, and China Mengniu Dairy Company Limited are the major players in the global yogurt market.
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Recent Developments
- In 2021, Danone’s “Silk” launched a plant-based Greek yogurt. After several years of R&D, the company launched its new Silk Greek yogurt in four varieties, namely strawberry, blueberry, vanilla, and lemon.
- In 2021, Lactalis India forayed into the yogurt category with the launch of Lactel Turbo, a yogurt drink for INR 15.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Spoonable Yogurt
5.1.2 Drinkable Yogurt
5.2 By Category
5.2.1 Dairy-based Yogurt
5.2.2 Non-dairy-based Yogurt
5.3 By Flavor
5.3.1 Plain Yogurt
5.3.2 Flavored Yogurt
5.4 By Distribution Channel
5.4.1 Foodservice Channels
5.4.2 Supermarkets/Hypermarkets
5.4.3 Convenience Stores
5.4.4 Online Retail Stores
5.4.5 Other Distribution Channels
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.1.4 Rest of North America
5.5.2 Europe
5.5.2.1 Spain
5.5.2.2 United Kingdom
5.5.2.3 Germany
5.5.2.4 France
5.5.2.5 Italy
5.5.2.6 Russia
5.5.2.7 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Australia
5.5.3.5 Rest of Asia-Pacific
5.5.4 South America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Rest of South America
5.5.5 Middle-East and Africa
5.5.5.1 South Africa
5.5.5.2 Saudi Arabia
5.5.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 General Mills Inc.
6.4.2 Nestle SA
6.4.3 Chobani LLC
6.4.4 Danone SA
6.4.5 Grupo LALA
6.4.6 China Mengniu Dairy Company Limited
6.4.7 Hain Celestial Group
6.4.8 Fonterra Co-operative Group
6.4.9 FAGE USA Dairy Industry Inc.
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Yogurt Market market is studied from 2016 - 2027.
What is the growth rate of Yogurt Market?
The Yogurt Market is growing at a CAGR of 4.8% over the next 5 years.
Which region has highest growth rate in Yogurt Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Yogurt Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Yogurt Market?
Danone S.A., Chobani, LLC., General Mills, Inc., Nestlé S.A., China Mengniu Dairy Company Limited are the major companies operating in Yogurt Market.
