Market Size of yogurt Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 105.61 Billion |
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Market Size (2029) | USD 135.84 Billion |
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Largest Share by Distribution Channel | Off-Trade |
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CAGR (2024 - 2029) | 5.16 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Yogurt Market Analysis
The Yogurt Market size is estimated at 105.61 billion USD in 2024, and is expected to reach 135.84 billion USD by 2029, growing at a CAGR of 5.16% during the forecast period (2024-2029).
105.61 Billion
Market Size in 2024 (USD)
135.84 Billion
Market Size in 2029 (USD)
4.11 %
CAGR (2017-2023)
5.16 %
CAGR (2024-2029)
Largest Market by Region
44.82 %
value share, Asia-Pacific, 2023
The consumption in China is shaping the Asia-Pacific segment. A large portion of the Chinese population is lactose intolerant, yogurt has the advantage of being fermented, making it digestible.
Largest Market by Distribution Channel
97.35 %
value share, Off-Trade, 2023
The ease of product comparibility enabling them to read the labels which is provoking them to make smarter choices in the market is largely driving the segmental growth.
Largest Market by Region
7.75 %
Projected CAGR, Africa, 2024-2029
The rise in disposable incomes, coupled with an increase in demand for convenience food and growing awareness of yogurt’s health benefits, drives the growth in Africa.
Fastest-growing Market by Distribution Channel
5.25 %
Projected CAGR, Off-Trade, 2024-2029
The ongoing demand in off-trade channels majorly through online distribution channel as it provides ease of shopping with ample option availability is inticing the growth of segment.
Leading Market Player
12.96 %
market share, Danone SA, 2022
Danone S.A's unique offerings in flavored yogurts which includes black cherry, golden honey, luscious blueberry, tropical mango, and vanilla flavours is making it market leader.
Strong penetration of organized retail channels enhancing the market growth
- Asia-Pacific is the largest yogurt market, with a value share of 44.55% in 2022. Yogurt is consumed mainly through the off-trade channel. The market is estimated to witness a growth of 10.68% in 2023 compared to 2022. The growth is to be attributed to the easy availability of a wide range of yogurts across the retail and foodservice channels. Supermarkets account for a value share of 61.43% of the off-trade segment. The highest share is attributed to the strong penetration of popular chains such as Maruetsu, Aldi, Big Bazaar, Woolworths Group, and Aeon Retail, which provide a wide selection of yogurt varieties that are imported and made locally.
- The global yogurt distribution channel grew by 4.57% in 2022 compared to 2021 due to the availability of a wide range of yogurt flavors. Retailers also offer a wide variety of brands under the yogurt segment. In 2021, in the United States, the largest yogurt market in the North American region, strawberry flavored yogurt was preferred by 8% of the population, followed by vanilla and blueberry (both 4%), peach (3%), and mango (2%). Seeking the demand for distribution channels in the North American region, the yogurt market is expected to rise by 5.08% in 2025.
- Online retail is the fastest-growing retail sales channel in the off-trade category, and it is projected to register a CAGR of 7.75% during the forecast period. Online retailers, including Amazon, Sainsbury’s, Asda, and Tesco, represent the most dominant platforms in terms of the sales of overall groceries, including dairy products, worldwide. The sub-segment held a share of 3.29% in the market in 2022. Group buying, live streaming, and discounts are the marketing campaigns that attract consumers to e-commerce.
Understand The Key Trends Shaping This Market
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Europe and Asia-Pacific holds significant share coupled with increasing sales through off trade channles resulting higher sales
- Global consumption of yogurt grew by 14.15% from 2017 to 2022. Yogurt is an ancient food that has been part of the daily diet for thousands of years across different countries. Europe and Asia-Pacific were the largest yogurt consumers globally, with a market volume share of 32.52% and 41.79%, respectively, in 2022.
- India and China are identified as the region's major markets. They collectively accounted for a 65.25% share of the overall yogurt volume sales across the region in 2022. The key factors driving the market’s growth include the high production of raw milk, rising consumer preference for quality dairy products, and adequate industry regulation to facilitate the manufacturing and trading of dairy products. The Indian government permitted 100% FDI (Foreign Direct Investment) through an automatic route for food processing. The dairy industry records a substantial FDI constituting about 40% of FDIs in the Indian food industry. India is one of the largest yogurt-consuming countries, as it is the key component of most Indian cuisines.
- In Europe, yogurt sales are estimated to register a CAGR of 4.50% during the forecast period, reaching USD 40,103.14 million in 2029. Flavored yogurt is a largely consumed category across the region, with fruit flavors being the most popular in key countries such as Germany, the United Kingdom, and France. In 2022, 32% of UK consumers were willing to pay more for innovative yogurt flavors.
- Africa is identified as the fastest-growing yogurt market. It is anticipated to register a CAGR of 7.64% during the forecast period. The market’s growth can be attributed to the frequent product launches in the flavored category. Key companies such as Libstar Holdings, LANCEWOOD, and Dannon Egypt launched new yogurt flavors during 2021-2022.
