The global yogurt market is anticipated to surge from US$ 44,808.5 million in 2023 to US$ 79,147.2 million in 2033. It is anticipated to expand rapidly between 2023 and 2033, with a CAGR of 5.9%.
Key Insights from the Market Trends:
- Nutritional Benefits Propel Growth: The global yogurt market is experiencing significant growth, primarily driven by the nutritional benefits associated with yogurt consumption. These benefits include the reduction of risks related to type 2 diabetes, colon cancer, and osteoporosis. Yogurt is also recognized for promoting good digestion and strengthening the immune system.
- Medium-Term Sales Boost Factors: The market is expected to witness a medium-term boost in sales due to factors such as the availability of a diverse range of flavors, increased awareness of yogurt’s nutritional content, and a growing public emphasis on maintaining a healthy diet. Producers are responding to this trend by focusing on creating products with unique flavors and health advantages.
- Nutrient-Fortified Options: Yogurt is often fortified with additional vitamins and minerals, making it a nutritious snack option. Its versatility extends to various recipes, where it is used to enhance taste and texture. From taco or salad toppings to substitutes for sour cream or mayonnaise in dips, yogurt’s applications are diverse.
- Variety of Flavors: Yogurt comes in a wide range of flavors, including both sweet and fruity varieties as well as savory options such as ranch and buffalo. The market is expected to witness increased sales, especially as online platforms complement in-store purchases.
- Rising Demand for Portable Snacks: The increasing demand for portable snacks is contributing to the growing demand for yogurt. Manufacturers are leveraging new technologies to advance their industries, producing goods with consistent, superior potencies at affordable prices.
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Key Takeaways:
- The USA holds a dominant position in the global yogurt market, capturing 23.4% of the market share.
- The global yogurt market exhibited a growth rate of 5.4% between 2018 and 2022.
- China’s yogurt market is anticipated to reach a valuation of US$ 2,643.7 million by 2033.
- India’s yogurt market is expected to expand significantly with a CAGR of 4.9% over the forecast period.
- The United Kingdom’s yogurt market is set to register a lucrative CAGR of 5.1% in the next ten years.
“Due to significant demand for low-fat, low-sugar desserts, the yogurt market is anticipated to surge during the forecast period. Macroeconomic factors such as rising need for ice cream alternatives among kids and high health consciousness might have a positive impact on the market,” says a lead analyst at Future Market Insights.
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Competitive Landscape: Yogurt Market
Due to the presence of several local and regional competitors, the yogurt market is extremely fragmented and competitive on a global level. Key companies are using a variety of marketing tactics such as partnerships, purchases, mergers, and collaborations to stay on top. Stakeholders in the yogurt sector are more interested than ever in sustainability and certification.
For instance,
- The new Silk Greek yogurt was presented by Danone, a French multinational food products company in August 2021. There are four flavors to choose from: lemon, vanilla, blueberry, and strawberry. The business hopes to provide its clients with plant-based yogurt options with this launch.
Get More Valuable Insights into Yogurt Market
In its latest offering, Future Market Insights offers a thorough study of the yogurt market, covering historical demand data (2018 to 2022) and forecast data from 2023 to 2033.
The study provides compelling insights into the global yogurt market based on product type (yogurt drinks, Greek yogurt, set yogurt, frozen yogurt), distribution channel (hypermarkets, retailers, convenience stores, specialist retailers), and region.
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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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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