Yogurt Market - Forecasts from 2023 to 2028

The global yogurt market is expected to grow at a CAGR of 4.01% from US$140.819 billion in 2021 to US$185.484 billion by 2028.

The yogurt market is growing due to the increasing demand for low-calorie, high-protein, and healthy sweets worldwide. Additionally, due to the growing number of people who are lactose intolerant, there is a rise in the sale of lactose-free yogurt varieties worldwide. This is having a favorable impact on the market, along with the general public's increased awareness of the advantages of ingesting yogurt. Additionally, yogurt is widely accessible through offline and online distribution channels, providing lucrative growth opportunities for business investors. In addition, yogurt consumption is rising due to its potential to improve immunological function, lower the risk of developing type 2 diabetes and lung cancer, prevent osteoporosis, promote weight loss, and more.

The rising demand for probiotic products is accelerating yogurt consumption.

The demand for probiotic foods is driven by the increased frequency of digestive diseases among different consumer groups worldwide. Due to its advantages, consumers believe probiotic food is a simple substitute for pharmaceutical treatments due to its benefits. The most popular probiotic food is yogurt, which comes in a variety of flavors and is both spoonable and drinkable. The probiotic product industry is driven by customers' steadily increasing preference for items that promote digestive health. As a result, yogurt now accounts for a sizeable portion of the market's sales of probiotics. The market is being driven by the expanding acceptance of probiotics among the younger generation, greater knowledge of their health benefits, and growth in the number of older people. For instance, according to the International Probiotics Association (IPA), major brands like Chobani, Vega-protein, Silk, Active, and many others are dumping dairy-free probiotic yogurt on the market as probiotic yogurts gain popularity like the Greek Style Coconut Yoghurt with Coconut Milk Base was introduced by Silk, a brand of Danone, in August 2021. This has also increased the sales revenue of Danone; for instance, as per the 2021 company report, the sales increased from €‎12,823 million in 2020 to €‎13,090 million in 2021.

The demand for non-dairy based yogurt remains high.

According to the National Library of Medicine, run by the US federal government, as of April 2022, lactose intolerance is a highly prevalent condition among adults. By the age of 20, about 30 million American adults have lactose intolerance. During the forecast period, demand for non-dairy products will continue to expand due to the high consumption of lactose-free products. Owing to this, the American Food and Drug Administration (US FDA) made plans to encourage innovation in the production of various dairy substitutes, including vegan yogurt and other plant-based goods. The European Commission also sought to provide producers with appropriate recommendations to boost productivity in processing milk substitutes.

The global yogurt market is segmented into online and offline based on distribution channels. The online distribution channel for yogurt has witnessed tremendous growth in recent years due to the increasing adoption of e-commerce platforms and their convenience. Offline distribution channel for yogurt includes supermarkets, hypermarkets, convenience stores, and specialty stores. This channel remains an extremely dominant distribution channel for yogurt products, with supermarkets and hypermarkets accounting for a significant market share. The offline distribution channel offers consumers the advantage of physically examining the product before purchasing and offers immediate gratification. The offline distribution channel also provides a platform for manufacturers to display their products and attract new consumers through in-store promotions and offers.

The North American yogurt market significantly contributes to the global yogurt industry.

Based on geography, the global yogurt market has been analyzed into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. In recent years, the market has experienced steady growth due to increasing health consciousness among consumers and the rising popularity of yogurt as a convenient, nutritious, and versatile food. The North American yogurt market offers various yogurt flavors, types, and brands. This availability of options is driving the market's growth as consumers seek out new and innovative flavors and products.

Market Developments:

• PlantGurt, a new product line from Plant Veda Foods Ltd., was introduced in November 2021. Lean plant-based protein and only natural ingredients are used to make PlantGurt. As low-fat vegan yogurt helps maintain blood glucose levels and lowers the risk of obesity, stroke, cholesterol, and cancer, which can spur market growth in the coming years, the rising prevalence of chronic conditions is favorably influencing its sales.
• Lactalis India introduced the protein-rich yogurt beverage "Lacetl Turbo" in August 2021. Mango and strawberry flavors of the yogurt beverage are offered.
• Danone introduced its dairy-free yogurt drink line in 2020 to provide a smooth and creamy texture without dairy and to hasten its entry into the dairy-free market.
• In March 2023, Harmless Harvest, a pioneer in the organic coconut-based food and beverage sector, introduced its freshly repackaged line of single-serve and multi-serve dairy-free yogurt substitute products.
• In February 2023, So Delicious Dairy Free launched its newest product which is 0g Added Sugar Coconutmilk Yoghurt. The business stated the yogurt substitute, which comes in four flavors - coconut, strawberry, vanilla, and blueberry is created with organic coconuts and has no dairy, extra sugar, or other artificial sweeteners.

Market Segmentation:

By Form

• Spoonable Yogurt
• Drinkable Yogurt

By Source

• Dairy-based Yogurt
• Non-Dairy-based Yogurt

By Flavor

• Plain Yogurt
• Flavored Yogurt

By Packaging

• Cup
• Pouch
• Bottle
• Others

By Fat Content

• Regular
• Low Fat
• Fat-Free

By Distribution Channel

• Online
• Offline

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Colombia
• Ecuador
• Peru
• Others
• Europe
• Austria
• Belgium
• Bulgaria
• Czech Republic
• Denmark
• Finland
• France
• Germany
• Hungary
• Ireland
• Italy
• Netherlands
• Poland
• Portugal
• Slovenia
• Spain
• Sweden
• UK
• Others
• Middle East and Africa
• Saudi Arabia
• Israel
• UAE
• Turkey
• Morocco
• Egypt
• Others
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Philippines
• Others