Yogurt Market size is set to grow by USD 41.5 billion from 2024-2028, Health benefits of yogurt boost the market, Technavio

NEW YORK, June 24, 2024 /PRNewswire/ -- The global yogurt market size is estimated to grow by USD 41.5 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.86%  during the forecast period. Health benefits of yogurt is driving market growth, with a trend towards increasing use of superfruits in yogurts. However, increasing product recalls  poses a challenge. Key market players include Agropur Dairy Cooperative, Arla Foods amba, Chobani Global Holdings LLC, COFCO Corp., COYO Pty Ltd., Danone SA, DSG Consumer Partners, EHRMANN SE, Emmi Group, Fage International SA, Fonterra Cooperative Group Ltd., General Mills Inc., Lactalis American Group Inc., Maple Hill Creamery LLC, Meiji Holdings Co. Ltd., Nestle SA, Sovos Brands Inc., The Hain Celestial Group Inc., Unternehmensgruppe Theo Muller, and Yeo Valley Organic Ltd..

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Market Driver

The global yogurt market is experiencing growth due to consumers' heightened health awareness and increasing focus on natural, nutrient-rich foods. Diabetes, obesity, and allergies are prevalent health issues leading to this trend. Superfruits, such as acai, goji berry, noni, pomegranate, and grapes, are being incorporated into Greek yogurt for their antioxidant, vitamin, and mineral content. Vendors currently use raspberry, strawberry, and pomegranate in their yogurt offerings. With the rising popularity of superfruits, it is anticipated that more vendors will introduce Greek yogurt with superfruits as ingredients during the forecast period. 

The yogurt market is experiencing significant growth with various trends shaping its future. Milk, homogenized and pasteurized, is a key ingredient in yogurt production. The use of probiotics in yogurt is a major trend, with benefits such as digestive health and immune system support. Flavors like strawberry, blueberry, and vanilla are popular choices among consumers. Sustainability is also a trend, with consumers looking for eco-friendly packaging and production methods. Deserts and drinks are common yogurt applications, and yogurt is often used as a base for smoothies and other beverages. Artificial sweeteners and additives are being replaced with natural alternatives. Yogurt is also used in savory dishes, such as dips and sauces. Overall, the yogurt market is dynamic and evolving, with a focus on health, sustainability, and innovation. 

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Market Challenges

•         Yogurt recalls can significantly harm market growth by damaging a company's reputation, decreasing consumer trust, and imposing financial and operational burdens. These recalls occur when products are deemed potential health risks due to contamination or undeclared allergens. With increasing health awareness, yogurt recalls for contamination issues may lead to eroded brand trust and consumer loyalty, resulting in market growth hindrance during the forecast period. For instance, Danone faced a recall of three yogurt products due to metal contamination, posing health risks to consumers. Consequently, vendors face challenges due to unsuitable products, making the yogurt market growth negatively impacted.

•         The yogurt market faces several challenges in the industry. One major challenge is increasing competition from various dairy products and alternative beverages. Another challenge is the rising cost of raw materials, such as milk and sugars. Additionally, consumer preferences for low-sugar and lactose-free options require continuous innovation and adaptation. Choices for consumers are expanding, with new flavors, textures, and packaging options. Regulations and certifications, such as organic and non-GMO, also add complexity to the market. Producers must balance these challenges while maintaining quality and affordability for consumers.

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Segment Overview 

This yogurt market report extensively covers market segmentation by  

1. Product 
• 1.1 Spoonable yogurt
• 1.2 Drinkable yogurt
2. Flavor 
• 2.1 Plain
• 2.2 Flavored
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Spoonable yogurt-  The spoonable yogurt market, which includes frozen and refrigerated varieties like Greek yogurt, has seen significant growth due to its thick, creamy texture and health benefits. Consumers use it in various applications, including food and salad dressings. The popularity of Greek yogurt has driven this segment's expansion. Innovative flavors have attracted consumers, with 27% in the US and 32% in the UK willing to pay more. Low-fat and high-protein options, such as Chobani's natural yogurt, cater to health-conscious consumers, fueling market growth.

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Research Analysis

The yogurt market encompasses a wide range of dairy products undergoing homogenization and fermentation processes. These include beverages, snacks, meal replacements, desserts, and protein-rich sports drinks. Consumers are increasingly aware of the health benefits associated with regular yogurt consumption, such as promoting healthy digestion, supporting the immune system, and aiding in weight loss and fat loss. Yogurt is also known to offer protection against various health conditions, including Type 2 diabetes, colorectal cancer, osteoporosis, high blood pressure, and bad cholesterol. The market caters to both lactose-tolerant and lactose-intolerant individuals by offering lactose-free and low-lactose options. Ingredients used in yogurt production may include hormonal treatments and artificial additives, which are subjects of ongoing debate and consumer awareness. The retail market for yogurt continues to grow as consumers seek convenient, nutritious, and delicious options for their daily diet.

The yogurt market is a significant segment of the global dairy industry, characterized by its high consumer demand and diverse product offerings. Homogenized milk is a primary raw material in yogurt production. Fermentation is the key process in transforming milk into yogurt. Various strains of bacteria, such as Lactobacillus bulgaricus and Streptococcus thermophilus, are used for fermentation. The market consists of various types of yogurt, including traditional, Greek, Icelandic, and others. Probiotics are a crucial component of yogurt, contributing to its health benefits. Yogurt is consumed for its nutritional value, taste, and convenience. The market is influenced by factors such as consumer preferences, health trends, and government regulations. Sustainability and innovation are key drivers in the yogurt market. The market caters to various consumer segments, including children, adults, and the elderly. Yogurt is used in various applications, including as a standalone food, in baking, and in the production of other dairy products. The market is expected to grow in the coming years due to increasing consumer awareness and demand for healthy food options.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Spoonable Yogurt
• Drinkable Yogurt
• Flavor
• Plain
• Flavored
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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