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Report Overview
The yoghurt market size reached a value of about USD 51.81 billion in 2023. The market is further expected to grow at a CAGR of 6% in the forecast period of 2024-2032
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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Rapid Expansion of Supermarkets and Hypermarkets to Augment the Yoghurt Industry Growth
Based on distribution channel, the supermarkets and hypermarkets segment accounts for a significant share in the yogurt industry, since these stores stock a broad range of goods from a variety of brands. Cold storage, which is important for preserving the shelf life of perishable dairy goods, is also available in supermarkets and hypermarkets. This is contributing to the growth of the segment.
Europe to Provide Enhanced Growth Opportunities to the Yogurt Market
Region-wise, Europe is expected to witness a robust growth over the forecast period. Currently, it is one of the leading markets for the product. Yoghurt is commonly eaten as a snack and dessert in the European Union, which accounts for the largest market share in Europe. Another significant market for the product includes North America. The growing demand for dairy products in the region, coupled with the thriving food and beverages industry, is expected to significantly contribute to the market growth in North America.
Yoghurt Market Segmentation
Yoghurt or yogurt is a dairy product made from the fermentation of milk by bacteria. It is an excellent source of protein. Because of its high digestibility and richness in essential amino acids, yoghurt is marked high on the nutrition scale. The proteins present in yoghurt are more easily digestible as compared to standard milk. Due to its high nutrient density, yoghurt can also serve as a healthy snack.
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By category, the market is divided into:
- Conventional
- Dairy Free
Based on type, the industry can be segmented into:
- Set Yoghurt
- Greek Yoghurt
- Yoghurt Drink
- Frozen Yoghurt
- Others
The market is divided based on flavour into:
- Flavoured
- Non-Flavoured
On the basis of fat content, the industry can be bifurcated into:
- Regular
- Low Fat
By packaging type, the market can be segmented into:
- Cups
- Bottles
- Others
The industry can be classified based on distribution channel into:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Popularity Among Health-Conscious Consumers to Bolster the Growth of the Yoghurt Industry
Yoghurt is becoming increasingly popular among health-conscious consumers due to its low fat and sugar content. The manufacturers are responding by offering fortified yoghurt products with added vitamins, minerals, and fibre. Arla Foods, for example, has introduced a fibre-rich yoghurt that is high in proteins, low in fats, and contains about 27% of the daily recommended calcium intake. Thus, the growing awareness regarding the various health benefits of yoghurt and its growing popularity as a healthy snacking option among consumers is significantly contributing to the market growth.
Over the forecast period, the offering of innovative and convenient packaging formats is expected to drive the growth of the market. Manufacturers are launching self-contained froyo balls, squeezable tubes, and containers with anti-choking caps, among other products to reduce spills and potential hazards.
Key Industry Players in the Global Yoghurt Market
The report gives a detailed analysis of the following key players in the global yoghurt market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Nestlé S.A.
- Danone S.A.
- Lactalis American Group, Inc.
- Royal frieslandcampina NV
- China Mengniu Dairy Company Limited
- Fonterra Co-operative Group Limited
- General Mills Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Category |
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| Breakup by Type |
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| Breakup by Flavour |
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| Breakup by Fat Content |
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| Breakup by Packaging Type |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global yoghurt market attained a value of nearly USD 51.81 billion.
The market is projected to grow at a CAGR of 6% between 2024 and 2032.
The major drivers of the market include the increasing popularity of yoghurt among health-conscious population, growing demand for dairy products, increasing innovations by key players to include fortified range of yoghurt, and rising consumer disposable incomes.
The key trends guiding the market growth include the rising consumption of yoghurt as a snack, the thriving food and beverage sector, and the growing focus of manufacturers to offer the product in innovative and convenient packaging formats.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant categories of the product include conventional and dairy free.
The various types of yoghurt available in the market are set yoghurt, Greek yoghurt, yoghurt drink, and frozen yoghurt, among others.
Flavoured and non-flavoured are the different segments based on the flavour of yoghurt.
The major segments based on the fat content of yoghurt are regular and low fat.
Cups and bottles, among others, are the different yoghurt packaging types considered in the market report.
The significant distribution channels in the yoghurt market include supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.
The major market players include Nestlé S.A., Danone S.A., Lactalis American Group Inc., Royal frieslandcampina NV, China Mengniu Dairy Company Limited, Fonterra Co-operative Group Limited, and General Mills Inc., among others.
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