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Definition of Market/Industry:

Yogurt is a fermented milk product that is produced by using bacteria fermentation, these bacteria’s are known as ‘yogurt cultures’. Yogurt is available in different forms such as regular/plain yogurt, fruit yogurt, low fat & fat-free yogurt, and flavored yogurt. They are widely available in various distribution channels such as retail stores, online, hyper/super market, and convenience store.

Market Statistics:

The global yogurt market is expected to surpass US$ 280.8 Bn in terms of value by the end of 2028.

Drivers:

The growing demand for a healthy food product is primarily propelling the market growth of the yogurt. Yogurt is gaining demand as a part of daily diet because it offers various health benefits and is a source of several nutrients. Various studies suggest that yogurt boosts the immune system, enhance metabolism, serve key nutrients such as protein, vitamin, calcium, etc. and also aid smooth functioning of the digestive system. Thus, growing health benefits awareness regarding the yogurt is projected to foster market growth.

Market Opportunities

Continuous product innovation by key players is projected to offer lucrative growth opportunities in the near future. For instance, in December 2019, Danone North America has launched a new portfolio of yogurt innovations. New Danone North America yogurt products 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 Almond milk Yogurt Alternative Mix-ins; and So Delicious Coconut milk Yogurt Alternative Pairings.

Global Yogurt Market: Recent Developments

  • In 2020, Greek yogurt brand Ellenos received an $18 million investment from Equilibra Partners Management. Further, the 2018 investment from Monogram Capital Partners was also reportedly $18 million. Thus, conclusively the company has brought in at least $36 million to date to expand beyond the current extent of its retail presence.
  • In 2019, Danone launched a line of oat milk yogurts under its So Delicious brand, made available in four flavors like Triple Berry, Spiced Pear & Fig, Strawberry Rhubarb, and Sweet Mango.
  • In 2019, Bollywood actress Deepika Padukone had reportedly invested in Drum Foods International Pvt. Ltd, the maker of flavored yogurt brand Epigamia, as part of a strategic partnership that will also see her endorse the brand. The investment has been made through KA Enterprises Llp, Padukone's strategic initiative arm. Epigamia, which makes flavored yogurt, Greek yogurt, smoothies, and mishti doi.

Market Restraints

Factor such as acidification, which can occur at any stage of the yogurt supply chain that adversely affects the taste and texture of the product is expected to restrict the market growth. Maintaining the original organoleptic properties of the yogurt is a significant challenge for the manufacturers. This is expected to hinder the market growth.

Global Yogurt Market - Impact of Coronavirus (Covid-19) Pandemic

After the COVID-19 virus hit the world, food industries has adopted many measures to protect their employees, secure supply chains, and address other concerns in the market. During initial days of pandemic F &B market and grocery stores were shut down but later it has created a massive spike in online grocery delivery services. However, major players are looking for adopting various strategies for reimagining and reforming their business.

Key Takeaways:

  • The global yogurt market was valued at US$ 126.5 Bn in 2020 and is forecast to reach a value of US$ 280.8 Bn by 2028 at a CAGR of 10.0% between 2021 and 2028.
  • The Flavoured in type segment was valued US$ 66.2 Bn in 2020 and is expected to witness a CAGR of 10.10% over the forecast period owing to rising popularity of flavored yogurt products among children

To know the latest trends and insights prevalent in the Global Yogurt Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/yogurt-market-1461

Figure 1. Global Yogurt Market Share, By Type, 2020

Press Release Image

Market Trends

The increasing launch of the product in the convenience of packaging such as easy-pour pouches is a growing trend in the market. Also, Yogurt to go” is a new packaging solution by Ugo, which has a peel-off top, a fruit section and a spoon is gaining traction in the market. Moreover, the Cheerpack squeezable yogurt packaging, provided by Gualapack S.p.A., is highly preferred by consumers for ‘on the go’ usage. Thus, the advent of the product with an easy packaging solution is projected to foster the market growth of yogurt.

The various manufacturer is expanding its product portfolio with the launch of yogurts for kids. This is one of the growing trends in the market. For instance, in January 2020, Siggi’s has launched a new line of yogurt pouches for children as it aims to offer a lower sugar alternative to other products on the market. The product is sold in portable packaging, the range is made with 2% milkfat yogurt and available in two flavors in the US: blueberry, and strawberry and banana.

Competitive Section:

Company Names 

  1. General Mills, Inc.
  2. Nestle SA
  3. Danone
  4. Yakult Honsha Co., Ltd.
  5. Ultima Foods Inc.
  6. Chobani, LLC
  7. Sodiaal
  8. Muller UK & Ireland Group LLP
  9. Kraft Foods Group, Inc.
  10. Rainy Lanes Dairy Foods Ltd.

African Key Players

  1. Parmalat S.p.A.
  2. Juhayna Food Industries
  3. Clover S.A. (Pty) Ltd.
  4. Chi Limited
  5. Brookside Dairy Limited
  6. Sameer Agriculture & Livestock Limited
  7. Lausanne Dairies (Pty) Ltd
  8. Jesa Farm Dairy Ltd
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