The global yogurt market was valued at $77,679 million in 2016, and is projected to reach at $107,209 million by 2023, growing at a CAGR of 4.6% from 2017 to 2023. Yogurt is a low calorie, low sugar, and digestive food product made from whole, low fat, or skimmed milk. This product is also manufactured in the form of non-dairy delicacies under the name of coconut yogurt and soy yogurt. It may consist of fermenting bacterial cultures, sweeteners, flavors, color additives, stabilizers, emulsifiers, and preservatives depending upon the way of production. The various nutrients present in yogurt include good bacteria for digestive tract, protein, calcium, vitamin B-2, vitamin B-12, potassium, and magnesium. Set yogurt or plain yogurt is the most versatile variety with an average of 100 to 160 calories per cup based on fat content. The flavored variety of yogurt ranges from simple vanilla with added sugar to different fruit flavored types available in the market.
Asia-Pacific is the leading region in the global yogurt market with largest market share and highest CAGR during the forecast period. This is attributed to huge production in different countries of the region such as China, Japan, India, and others. The primary drivers of the market include health benefits associated with consuming yogurt and increasing awareness among people for losing weight. Other factors supporting the market growth are expansion of retail market in various regions and the lower lactose content for lactose intolerant people willing to eat dairy products. However, artificial additives & ingredients, often added to the yogurt and hormonal treatment of cows that may cause fatal diseases, are some of the few factors expected to restrict people from buying yogurt, thus, limiting the market growth. Growth in demand for yogurt in the emerging nations owing to rise in disposable income as well as increase in health awareness are expected to provide numerous opportunities for the expansion of the global yogurt market.
The report segments the global yogurt market based on type, distribution channel, and geography. By type, it is divided into set yogurt, greek yogurt, yogurt drinks, and frozen yogurt. The yogurt drinks segment is further fragmented into regular and flavored yogurt market. Based on distribution channel, it is categorized into supermarkets/hypermarkets, independent retailers, specialist retailers, convenience stores, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA and detailed description of the countries of respective regions.
The main strategies followed by key players to expand their business in the market are expansion in new regions and acquisitions of smaller companies. Comprehensive competitive analysis and profiles of major market players in this study are as follows:
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Distribution Channel
OTHER KEY PLAYERS
*The above list of players are not profiled in the report, and can be added as per client interest
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