A recent study by FMI reveals that the global citrus yogurt market is expected to grow at a CAGR of 4% between 2023 and 2033, reaching a value of USD 3,403.0 million by 2033. The market is anticipated to be valued at USD 2,202 million by 2023.
The citrus yogurt market has experienced notable growth in recent years, fueled by increasing consumer demand for healthy, nutritious snacks. Citrus flavors, including lemon, orange, and lime, have gained popularity due to their refreshing taste and the health benefits they offer, such as high vitamin C and antioxidant content. As health-conscious consumers seek yogurt products that combine great flavor and nutrition, brands are responding with innovative and diverse citrus-flavored options.
In addition to taste, the market is influenced by evolving dietary preferences, such as the rise of plant-based diets and lactose-free options. Manufacturers are responding by introducing a variety of citrus yogurt products made from dairy alternatives like almond, coconut, and soy, appealing to a broader audience.
From 2018 to 2022, market demand for Citrus Yogurt expanded at a 2.0% value CAGR, concluding at US$ 2,117.20 million. The report, published by FMI, predicts that the citrus yogurt market will experience significant growth in the next few years, driven by factors such as increasing consumer demand for healthy and nutritious food, growing popularity of plant-based and non-dairy alternatives, and rising awareness of the health benefits of citrus fruits.
The Asia-Pacific region as the fastest-growing market, with increasing demand for citrus-flavored yogurt products and the availability of a wide range of citrus fruits.
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Key Takeaways from the Market Study
- FMI projects the global Citrus Yogurt industry to expand at a 4% value CAGR by 2033
- The global Citrus Yogurt market is expected to garner a market value of USD 3403.0 Million
- United States is expected to grow at a CAGR of 4.6% in the assessment period 2023-2033.
- U.K. is expected to grow at a CAGR of 5.3% in the assessment period 2023-2033.
- The hypermarkets/supermarkets segment is expected to hold the largest market share for Citrus Yogurt in the forecast period 2023-2033.
“The citrus yogurt market is set to experience robust growth due to the rising demand for healthy and nutritious food products. The market players are introducing new and innovative citrus yogurt products to cater to the changing consumer preferences.” says the FMI analyst.
Competitive Landscape
The citrus yogurt industry is highly competitive, with several well-established players and many emerging companies vying for market share. Some key developments are as follows:
- In September 2021, the latest news from General Mills Inc. was their announcement of the acquisition of Tyson Foods’ pet treats business, which includes popular brands such as Nudges, True Chews, and Top Chews. This acquisition is part of General Mills’ strategy to expand its pet food business and offer a broader range of pet products to consumers.
- In February 2021, Daiya Foods Inc. is that they announced the launch of their new line of dairy-free yogurt alternatives. The new products are made from a blend of coconut cream and pea protein and come in four different flavors: vanilla bean, strawberry, peach, and blueberry.
Key Segments Profiled in the Citrus Yogurt Market Industry Survey
By Product Type:
- Dairy
- Non-Dairy
By Form:
- Drinkable
- Spoonable
By Nature:
- Organic
- Conventional
By Distribution Channel:
- Food Service (HORECA)
- Hypermarket/Supermarket
- Convenience Store
- Food and Drink Speciality Stores
- Online Retail
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific Middle East & Africa
About the Food & Beverages Division at Future Market Insights
The food & beverages team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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