(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Global Yogurt market by Category (Dairy-Based Yogurt, Non-Dairy Based Yogurt), Flavor (Flavored Yogurt, Plain Yogurt), Form, Packaging, Distribution - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Yogurt Market grew from USD 55.70 billion in 2023 to USD 59.44 billion in 2024. It is expected to continue growing at a CAGR of 6.80%, reaching USD 88.33 billion by 2030.
The market now offers various yogurt options, showcasing the versatility and innovation within this seemingly simple culinary delight. Traditional plain yogurt is unflavored and unsweetened, offering a tangy and creamy taste sensation. Flavored varieties are mixed with fruits, honey, or other sweeteners for added taste, while Greek yogurt is strained thoroughly to remove whey, resulting in a thicker texture with a higher protein content. The yogurt market is a dynamic and diverse segment of the global food industry, characterized by a wide array of product offerings that cater to consumers' tastes, health, and dietary preferences across the globe. In recent years, the market has seen notable trends that reflect changing consumer preferences and societal shifts. Increasing consumption of yogurt owing to its associated health benefits, improved availability and supply chain of yogurt through online platforms, and significant demand for yogurt owing to the presence of flavored and lactose-free products are contributing to the expansion of the yogurt market.
However, the market faces certain challenges, such as health risks associated with artificial additives and ingredients in yogurt and product recalls coupled with significant consumption of substitute products, hindering the growth of the yogurt market. On the other hand, the increasing development of organic and vegan yogurt and rising adoption attributed to convenient and innovative yogurt packaging formats presents a potential opportunity for the yogurt market to flourish in the coming years.
Regional Insights
The yogurt market has been experiencing significant growth in the Americas, with a notable interest in Greek and non-dairy options. Consumer preferences are shifting toward healthier and functional foods, which is driving the consumption of dairy-free yogurt in the region. The yogurt market in Europe, the Middle East, and Africa (EMEA) is marked by a strong preference for traditional and plain yogurt manufacturers. With a rich history of yogurt consumption, companies in this region often favor authentic and regional specialties in their products.
Furthermore, the EMEA yogurt market is observing a rise in the demand for probiotic, high-protein, and lactose-free yogurts owing to health-conscious consumers. The Asia-Pacific (APAC) yogurt market is rapidly growing and evolving, attributed to the rising disposable incomes, urbanization, and a growing emphasis on healthy lifestyles of the population.
The region's diverse yogurt market is influenced by various cultural dietary habits and economic conditions. Innovation in flavors and formats has been a key to capturing the diverse consumer preferences within the region. The growing availability of spoonable and drinkable yogurt products through e-commerce platforms is gaining traction among younger consumers of the region.
Recent Developments
Danone Made Yogurt from Vegetable Waste
Danone SA and five other food innovators have teamed up to share their expertise and create a revolutionary vegetable yogurt. The prototype utilized NoPalm Ingredients yeast derived from fermenting vegetable waste.
Valio-backed Oddlygood Acquires Kavli's Vegan Brand Planti
Valio Group acquired the vegan brand Planti from Norway's Kavli Holding. This acquisition includes the transfer of ownership of the Planti brand, associated intellectual property rights, and a production facility located in Turku, Finland. As part of the acquisition, Valio has acquired Planti's production facility in the Finnish city of Turku.
Skyrrup Strengthens Portfolio with Launch of Lactose free Greek Yogurt
Bharat Skyr & Doodh Products Private Limited unveiled their new lactose-free Greek yogurt. Crafted using A2 Cow Milk, this yogurt is rich in protein, containing 7.5 grams per serving. It is free from preservatives and added sugar, providing a wholesome and nutritious option.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 181 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $59.44 Billion |
| Forecasted Market Value (USD) by 2030 | $88.33 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Market Dynamics
Market Segmentation Analysis
Category: Inclining demand for non-dairy yogurts from health-conscious consumers Flavor: Growing preferences for flavored yogurts offering taste varieties Form: Growing popularity of Greek yogurt due to its high protein content Packaging: Expanding usage of tetra packs for yogurt packaging due to its sustainability properties Distribution: Growing preferences for offline distribution of yogurt for instant product accessibility
Market Drivers
Increasing consumption of yogurt owing to its associated health benefits Improved availability and supply chain of yogurt through online platforms Significant demand of yogurt owing to presence of flavored and lactose-free products
Market Restraints
Health risk associated with artificial additives & ingredients in yogurt
Market Opportunities
Increasing development of organic and vegan yogurt Rising adoption of yogurt attributed to convenient and innovative yogurt packaging formats
Market Challenges
Product recalls coupled with significant consumption of substitute products
Industry Insights
Market Disruption Analysis Porter's Five Forces Analysis Value Chain & Critical Path Analysis Pricing Analysis Technology Analysis Patent Analysis Trade Analysis Regulatory Framework Analysis
Key Company Profiles
16 Handles Alpina Productos Alimenticios SA Alpura, SA Andros SNC Arla Foods Ingredients Group P/S Britannia Industries Limited CALIDAD PASCUAL, S.A.U. Casa Grande de Xanceda SL China Mengniu Dairy Company Limited Chobani, LLC DAHlicious Dana Dairy Group Ltd. Danone S.A. Dr. Otto Suwelack Nachf. GmbH & Co. KG Ehrmann SE Epigamia FAGE International S.A. Fonterra Co-operative Group Limited General Mills, Inc. Granarolo S.p.A. Granja el Prat Gujarat Cooperative Milk Marketing Federation Ltd. Holland Dairy Junlebao Dairy Group LA FERMIERE Lactalis Ingredients Meiji Holdings Co., Ltd. Menchie's Group, Inc. Mevgal S.A. Muller UK & Ireland Group LLP Nanci's Frozen Yogurt Nestle S.A. Noosa Yoghurt, LLC by Sovos Brands Intermediate, Inc. Penn Dairy PURIS Royal FrieslandCampina N.V. Saputo Inc. Schreiber Foods Inc. Seven Stars Farm Sunrise Dairy Limited The Hain Celestial Group, Inc. Unilever PLC Valio Group VIMA Foods
Market Segmentation & Coverage
Category
Dairy-Based Yogurt Non-Dairy Based Yogurt
Flavor
Flavored Yogurt Plain Yogurt
Form
Conventional Yogurt Frozen Yogurt Greek Yogurt Set Yogurt Yogurt Drinks
Packaging
Plastic Bottles Tetra Packs
Distribution
Region
Americas
Argentina Brazil Canada Mexico United States California Florida Illinois New York Ohio Pennsylvania Texas
Asia-Pacific
Australia China India Indonesia Japan Malaysia Philippines Singapore South Korea Taiwan Thailand Vietnam
Europe, Middle East & Africa
Denmark Egypt Finland France Germany Israel Italy Netherlands Nigeria Norway Poland Qatar Russia Saudi Arabia South Africa Spain Sweden Switzerland Turkey United Arab Emirates United Kingdom
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