Global Yogurt Market - 2023-2030

Global Yogurt Market - 2023-2030

The Global Yogurt Market reached US$ 105.9 billion in 2022 and is expected to reach US$ 177.9 billion by 2030 growing with a CAGR of 6.7% during the forecast period 2023-2030.

Yogurt can be made from various milk types, including cow's milk, goat's milk, sheep's milk, and plant-based alternatives like almond milk, soy milk, or coconut milk, offering a wide range of options to cater to different dietary preferences and restrictions. The driving factors behind the yogurt market include the growing demand for healthy and convenient food options, the popularity of yogurt as a probiotic-rich snack, and the increasing availability of diverse flavors and varieties to suit consumer preferences.

Fermentation by yogurt cultures transforms milk into yogurt, resulting in a tangy and creamy dairy product packed with beneficial probiotics. Lactic acid bacteria play a crucial role in yogurt production, converting lactose into lactic acid and contributing to the characteristic flavor, texture, and health benefits of yogurt. Yogurt processing involves pasteurization, fermentation, and cooling, transforming milk into a creamy and nutritious yogurt product. Starter cultures are essential in yogurt production as they contain specific strains of bacteria that initiate fermentation, converting milk into yogurt and imparting its distinct flavor, texture, and health-promoting properties.

Market Dynamics
Growing Demand for Probiotic Food and Beverage Drives Yogurt Market Growth

The growing demand for probiotic food and beverage products is indeed a significant driver of the yogurt market's growth. Probiotics are live bacteria that offer health benefits when consumed, particularly for digestive health and immune system support. Yogurt, with its natural probiotic content, has gained popularity as a convenient and tasty source of probiotics. Consumers are increasingly recognizing the importance of maintaining a healthy gut microbiome, which has led to a heightened interest in probiotic-rich foods and beverages.

The consumption of yogurt, known for its probiotic content, has been linked to various health benefits, including improved digestion, enhanced nutrient absorption, and strengthened immune function. Some of the major key players launched new yogurt products with probiotic strains. For instance, On March 27 2023, Junlebao, chinas food company launched new yogurt in the market which contains 10 probiotic strains.

Increasing Demand for Ice Cream Substitutes Among Children Drives Yogurt Market Growth

The increasing demand for ice cream substitutes among children is indeed playing a role in boosting the sales of the yogurt market. Yogurt, with its creamy texture and variety of flavors, serves as a healthier alternative to traditional ice cream. Parents and caregivers are increasingly seeking nutritious options for their children's snacks and desserts, and yogurt fits the bill. It provides a source of essential nutrients such as calcium, protein, and vitamins while offering a satisfying and indulgent taste experience.

The availability of flavored and fun yogurt options specifically targeted towards children, featuring popular characters or playful packaging, further appeals to their preferences and makes yogurt an attractive choice. For instance, On March 27, 2023, Enlightened launched frozen greek yogurt bars in the caramel brownie and mint and cookies flavors in the market.

The Growing Prevalence of Dietary Preferences and Restrictions Hampers Yogurt Market Growth

The growing prevalence of dietary preferences and restrictions poses a significant restraint on the yogurt market, particularly for traditional dairy-based yogurts. Lactose intolerance, for instance, affects a considerable portion of the population, making it challenging for individuals to consume yogurt containing lactose, a natural sugar found in dairy products. This limitation narrows the potential consumer base for dairy-based yogurts.

Similarly, the increasing adoption of veganism and plant-based diets has led to a rise in demand for non-dairy alternatives. Many individuals following a vegan lifestyle or those with dairy allergies or intolerances opt for plant-based yogurts made from sources like almond milk, soy milk, coconut milk, or oat milk. This shift in consumer preferences creates a challenge for traditional dairy yogurt manufacturers to cater to this specific segment.

COVID-19 Impact
The pandemic prompted a heightened focus on health and immunity. Yogurt, known for its probiotic content and potential health benefits, gained further attention as consumers sought out immune-boosting foods. This increased consumer interest in health and wellness benefited the yogurt market. The pandemic accelerated the growth of e-commerce and online grocery shopping. Consumers turned to online platforms to purchase their groceries, including yogurt.

Yogurt manufacturers and retailers adapted by strengthening their online presence and offering delivery options, meeting the changing consumer shopping preferences. Companies in the yogurt industry had to modify their marketing strategies to align with the pandemic's context. They focused on communicating the safety and hygiene measures taken during production and highlighting the health benefits of yogurt to resonate with consumers' concerns.

Russia-Ukraine Impact Analysis
Geopolitical tensions disrupt supply chains, leading to delays or interruptions in the delivery of raw materials, packaging, and finished yogurt products. This impact production capabilities and the availability of yogurt in the market. The political situation between Russia and Ukraine influence consumer sentiment and brand perception.

Shifts in consumer preferences may occur, favoring or discriminating against yogurt brands associated with either country. This lead to changes in market share and brand loyalty. Geopolitical tensions result in changes to trade agreements, tariffs, and regulations. These changes impact market access, making it more challenging for foreign yogurt companies to enter or expand in the affected countries.

Segment Analysis
The global yogurt market is segmented based on form, type, distribution channel, and region.

Increased Consumers Demand for Yogurt Drinks Drives the Segment Growth
The global yogurt market by form has been segmented by frozen yogurt, greek yogurt, set yogurt, yogurt drinks, vitamins and others.

Consumers are increasingly seeking healthier beverage options, and yogurt drinks align well with this trend. Yogurt drinks are perceived as a nutritious choice due to their probiotic content, which supports gut health, and their high protein content, which helps with satiety and muscle maintenance. The busy lifestyles of consumers have led to an increased demand for convenient and portable beverages. Yogurt drinks provide a convenient option for a quick and nourishing snack or meal replacement, making them popular among busy individuals who prioritize nutrition on the go.

Major key players in the market launched new yogurt drink products in the market which helps to boost yogurt drink segment growth over the forecast period. For instance, On August 26 2021, Lactalis India launched protein-packed lactel turbo yoghurt drink in the market. It is on the go drink available in the strawberry and mango flavours. The beverage includes all of the advantages of natural, premium French-quality yoghurt.

Geographical Analysis
Increased Demand for Yogurt in North America Region Due to its Health Benifits

United States and Canada are major share holding countries in the region due to increase demand for yogurt due to its health benifits. The North America yogurt market is a dynamic and competitive industry that has experienced consistent growth, driven by factors such as increasing consumer demand for healthy snacks, the popularity of yogurt as a breakfast option, and the availability of a wide range of flavors, formats, and specialty yogurts catering to diverse consumer preferences. The market is characterized by the presence of both established yogurt brands and innovative newcomers, as well as a growing emphasis on yogurt products with functional benefits, such as probiotics, high protein content, and low sugar options, in response to changing consumer lifestyles and dietary needs.

Canadian consumers are increasingly concerned about the environmental and ethical aspects of their food choices Also, increase in the merger, acquisition and partnership strategies in the region drives market growth. For instance, on November 17 2022, An broad line of plant-based seafood substitutes will be developed through a new partnership between Canadian companies Konscious Foods, Merit Yogurts, and Canadian Pacifico Seaweeds.

Competitive Landscape
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.

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 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies