The global yogurt market was valued at US$ 115.4 Billion in 2019, according to Yogurt Market Report, by Form (Set, Strained/Greek, Drinking and Frozen), by Type (Fruit, Regular/Plain, Low Fat/Fat Free and Flavoured), by Distribution Channel (Hyper/Supermarkets, Retail Stores, Convenience Stores and Online), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Yogurt is a fermented milk product that is produced by using bacterial fermentation. These bacteria are known as ‘yogurt cultures’. Yogurt is available in different forms such as regular/plain yogurt, fruit yogurt, low fat and fat-free yogurt, and flavored yogurt. They are widely available through various distribution channels such as retail stores, online stores, hyper/super market, and convenience store.
The global yogurt market accounted for US$ 115.4 Bn in terms of value in 2019 and is estimated to reach US$ 255.3 Bn by the end of 2027, witnessing a CAGR of 10% during the forecast period (2020-2027).
The growing demand for health foods is expected to propel growth of the global yogurt market. Yogurt is gaining preference in the daily diet because it offers various health benefits and is a source of several nutrients. Various studies suggest that yogurt boosts the immunity metabolism, and provides several key nutrients such as proteins, vitamins, calcium, etc. and also aids functioning of the digestive system. Thus, the growing awareness about health benefits of yogurt are expected to facilitate the market growth.
Continuous product innovation by key players is projected to create lucrative growth opportunities in near future. For instance, in December 2019, Danone North America launched a new portfolio of yogurt. These include Activia Less Sugar & More Good; Activia Dairy-Free yogurt alternatives; Danimals Organic Smoothies; Light & Fit Icelandic Style Skyr Yogurt; and Oikos Nut Butter Blends; Oikos Sweetened with Honey, Maple; Silk Almondmilk Yogurt Alternative Mix-ins; and So Delicious Coconutmilk Yogurt Alternative Pairings.
Factor such as acidification which can occur at any stage of the yogurt supply chain, can adversely impact taste and texture of the product and hamper the market growth. Moreover, maintaining the original organoleptic properties of yogurt is a significant challenge for the manufacturers which is likely to hinder the market growth.
Based on form, the drinking segment dominated the global yogurt market in 2019, accounting for 44.1% share in terms of value, followed by strained/Greek and set segments, respectively
Based on type, the flavored segment dominated the global yogurt market in 2019, accounting for 52.3% share in terms of value, followed by regular/plain and low fat/fat free segment, respectively.
The launch of the products with innovative and attractive packaging, such as easy-pour pouches is a growing trend in the market. For instance, 'Yogurt to go' is a new packaging solution by Ugo, an innovative packaging for yogurt that includes a functional spoon has a peel-off top, a fruit section and a spoon. Moreover, the Cheerpack squeezable yogurt packaging, provided by Gualapack S.p.A., one of the leading manufacturer of flexible packaging solutions, is highly preferred by consumers for ‘on the go’ usage. Thus, the advent of products with easy packaging solutions is projected to favor the market growth.
Manufacturer are focused on expanding their product portfolio by launching yogurt for kids. For instance, in January 2020, Siggi, one of the leading American brand of skyr, launched a new line of yogurt pouches for children and aims to offer a low-sugar alternative to other products on the market. The product is sold in portable packaging, is made with 2% milk fat yogurt and available in two flavors (blueberry, strawberry, and banana) in the U.S.
Regulations/Legislations for labeling of yogurt
The labeling of yogurt needs to comply with all the statutory requirements implemented by Food and Drug Administration, and in particular, food labeling regulations of 1996 and amendments thereof. The following provisions are additional to the statutory requirements:
Global Yogurt Market - Impact of Coronavirus (COVID-19) Pandemic
Dairy products such as milk, yogurt and cheese contains essential nutrients such as vitamin D and A among others boost immunity. There has been increasing demand for food items that increase the immunity among the global population during the COVID-19 pandemic. The reports by Mintel suggests that, the COVID-19 outbreak has prompted 45% of consumers in Europe to add more nutrients into their diet, while 29% reported being more interested in foods that offers improved immunity during the pandemic period. The aforesaid reasons are key factors expected to increase the demand for market during the forecast period.
African Key Players
Few Recent Developments
In March 2017, Danone India Pvt. Ltd, the local unit of the Danone S.A., introduced its brand of Greek yogurt. Danone’s Greek yogurt, priced at Rs 35 for an 80-gram cup, and is available in India in blueberry and mango flavors.
By Distribution Channel
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