The global yogurt market is on a trajectory of rapid expansion, projected to reach a valuation of US$ 79,147.2 million by 2033, up from US$ 44,808.5 million in 2023. With a robust Compound Annual Growth Rate (CAGR) of 5.9%, the market presents compelling opportunities.
Yogurt’s nutritional benefits, including its role in preventing osteoporosis, type 2 diabetes, and colon cancer, are driving its global demand. Additionally, yogurt promotes healthy digestion and boosts the immune system, further fueling its popularity among health-conscious consumers worldwide.
Factors such as the availability of a wide variety of flavors, the nutritional value of yogurt, and growing awareness of the importance of healthy eating are driving sales. Innovations in product development, including new flavors and formats such as yogurt drinks, are catering to diverse consumer preferences and lifestyles.
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Yogurt’s versatility as a snack and ingredient, rich in protein and probiotics, is contributing to its growing popularity. Manufacturers are focusing on developing products with innovative flavors and health benefits to meet the evolving demands of consumers. Additionally, investments in cutting-edge packaging options and expanding online and offline presence are driving market growth.
Protein shakes and cereal bowls both frequently contain yogurt. Yogurt comes in a wide range of tastes, including savory flavors such as ranch and buffalo, as well as fruity and sweet ones. Yogurt sales will increase during the projected period, according to Future Market Insights, as online platforms quickly supplement in-store purchases.
Demand for yogurt is rising along with the desire for portable snacks. Yogurt manufacturers strive to advance their industries and make goods with consistent, superior potencies at affordable prices by developing new technology.
“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 Nandini Roy Choudhury, Client Partner at Future Market Insights
Key Takeaways from Yogurt Market Study
- The USA yogurt market is anticipated to remain dominant with 23.4% of the global market share during the estimated time frame.
- The global yogurt market witnessed growth at a CAGR of 5.4% between 2018 and 2022.
- China yogurt market is predicted to reach a valuation of US$ 2,643.7 million by 2033.
- India yogurt market is anticipated to expand at a significant CAGR of 4.9% over the forecast period.
- The United Kingdom yogurt market is set to register a lucrative CAGR of 5.1% in the next ten years.
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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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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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