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The yogurt market is estimated to grow at a CAGR of 6.23% between 2022 and 2027. The size of the market is forecasted to increase by USD 42.2 billion. The growth of the market depends on several factors, including Health benefits, the launch of sugar-free and high-protein yogurts, and the growing consumption of greek yogurt.
This report extensively covers market segmentation by product (spoonable yogurt and drinkable yogurt), flavor (plain and flavored), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing consumption of greek yogurt is notably driving the market growth, although factors such as increasing product recalls may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Yogurt Market Driver
Significant Yogurt Market Trend
Major Yogurt Market Challenge
Key Yogurt Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Yogurt Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agropur Dairy Cooperative - The company offers yogurts under the brands iOGO and Olympic.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the spoonable yogurt segment will be significant during the forecast period. Spoonable yogurt is meant to be spooned or squeezed. It is generally sold in cups or tubes. The various applications of spoonable yogurt, including food and salad dressings, have made it popular among consumers.
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The spoonable yogurt segment was valued at USD 60.01 billion in 2017 and continued to grow until 2021. The increasing popularity of Greek yogurt is driving the growth of the spoonable yogurt segment. Moreover, the introduction of flavored yogurts will also drive the segment's growth. Many vendors have launched low-fat and high-protein products in recent years. For instance, Chobani offers a natural ingredient-based yogurt. Therefore, the spoonable yogurt segment is expected to grow during the forecast period.
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APAC is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growth of the yogurt market will be driven by the growing number of product launches, the rise in the number of organized retail outlets, the preference for a healthy lifestyle, and the increasing popularity of flavored yogurt beverages. China, India, Australia, Vietnam, Japan, and New Zealand are the key countries in with a high growth potential.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. In 2020, the yogurt market in the region experienced a negative impact due to the outbreak of COVID-19. However, the consumption of nutritious food such as yogurt increased during the pandemic, which positively impacted the demand for yogurt during 2020-2021. Moreover, large-scale vaccination drives led to a decrease in the number of COVID-19 cases in H2 2021, which resulted in the lifting of lockdown restrictions and the resumption of cross-border activities. Such factors will drive the growth of the regional market during the forecast period.
The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The reports categorize the global yogurt market as a part of the packaged foods & meats market, which covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Technavio calculates the global packaged foods and meats market size based on the combined revenue generated by the vendors operating in the market. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Yogurt Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.23% |
Market growth 2023-2027 |
USD 42.2 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.25 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, China, Australia, Ireland, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agropur Dairy Cooperative, Arla Foods amba, Chobani Global Holdings LLC, COFCO Corp., COYO Pty Ltd., Danone SA, DSG Consumer Partners, EHRMANN SE, Emmi Group, Fage International SA, Fonterra Cooperative Group Ltd., General Mills Inc., Lactalis American Group Inc., Maple Hill Creamery LLC, Meiji Holdings Co. Ltd., Nestle SA, Sovos Brands Inc., The Hain Celestial Group Inc., Unternehmensgruppe Theo Muller, and Yeo Valley Organic Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Flavor
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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