From 2022 to 2032, the global yoghurt market is expected to rise at a CAGR of 4.8%, from USD 89.9 Mn in the year 2022 to USD 143.7 Mn in the year 2032.
The global yoghurt industry is fueled primarily by the health benefits of yoghurt intake and a growing public awareness of the need for weight loss. Other factors driving market growth include the expansion of the retail market in various nations, as well as lower lactose percentages for lactose-intolerant people who want to eat dairy products.
Danone, Yakult, Chobani, and Nestle are among the biggest proponents of yoghurt awareness and consumption. People avoid consuming yoghurt because of artificial additions and ingredients added to it, as well as the harmful hormone therapy of milk-producing cows. Conversely, rising yoghurt demand in emerging countries is expected to open up various opportunities for global market expansion, owing to greater disposable income and increased health consciousness.
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Key Takeaways:
- The worldwide yoghurt market is estimated to grow at a CAGR of 4.8 % from 2022 to 2032, from USD 89.9 Mn in 2022 to USD 143.7 Mn in 2032.
- Grocery stores/ hypermarket/supermarkets contributed the most to the market sales in the year 2020, with USD 37,328.2 million, and are predicted to grow at a CAGR of 4.6 % to USD 59,586.9 million by 2031.
- China consumes 90% dairy-based probiotic goods and beverages, with dairy-based yoghurt making for a substantial percentage of the market.
- With an anticipated market value of USD 22.2 million and a massive market share of 65 percent in the North American region, the United States is regarded as the most prominent region for yoghurt.
- Due to increased awareness of the benefits of yoghurt intake and its incorporation in regular diets, the China Yogurt Market is expected to exceed USD 5.8 Mn in 2022, with a market share of 32 percent in the area.
Competitive Landscape:
The yoghurt market is having a huge potential to have strong growth with innovations in adding nutrients and enhancing texture as well as the flavour of products. Companies are extensively working on research and development with the advancement in technology to improve their product as per consumers’ interests and convenience. The development of drinkable yoghurt has boosted the sales of yoghurt significantly due to the ease of incorporating it into the diet and convenience to carry and transport. Fortification of yoghurt has also increased the demand for consumers due to a rise in health awareness.
The increased popularity of dairy-free products among millennials is anticipated to grow the market for plant-based nutritional products such as vegan yoghurts. Consumers in developed economies such as Europe And North America have been gravitating toward plant-based products as a result of increased incidences of ailments such as lactose allergy among the general public.
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Get More Valuable Insights
- Future Market Insights, in its new offering, provides an unbiased analysis of Yoghurt presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
- The study provides valuable insight on the Yoghurt market based on Product Type (Greek Yoghurt, Yoghurt Drinks, Frozen Yoghurt, Set Yoghurt), Distribution channels (Retailers, Hypermarkets, Specialist Retailers, Convenience Stores) & across seven major regions of the world.
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Market Segmentation on yoghurt
By Product Type:
- Greek Yogurt
- Set Yogurt
- Frozen Yogurt
- Yoghurt Drinks
By Flavor:
- Flavoured
- Plain
By Source:
- Plant-Based Yogurt
- Dairy-Based Yogurt
By Distribution Channel:
- Retail/Convenience Stores
- Supermarkets And Hypermarkets
- Online Stores
- Specialist Retailers
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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