Greek Yogurt Market

Greek Yogurt Market Outlook (2023 to 2033)

The global Greek yogurt market is expected to reach a market size of USD 7,851.8 million in 2023 and is projected to rise at a CAGR of 7.1% to reach USD 14,991.9 million by 2033. Earlier, from 2018 to 2022, this market expanded at a CAGR of 6.6%.

Report Attribute	Details
Greek Yogurt Market Historical Growth Rate (2018 to 2022)	6.6%
Greek Yogurt Market Value (2023)	USD 7,851.8 million
Greek Yogurt Market Anticipated Forecast Value (2033)	USD 14,991.9 million
Greek Yogurt Market Projected Growth Rate (2023 to 2033)	7.1%

Greek yogurt is made by straining curd and removing it from the surplus watery whey, also known as yogurt cheese or sack yogurt. Yogurt that has been strained is thicker and creamier than curd that has not been strained. Greek yogurt provides several nutritional advantages, including a high protein, calcium, and vitamin B content, probiotic capabilities, low carbohydrate level, etc.

Furthermore, they are available in a range of toppings and tastes, including blueberry, vanilla, honey, and chocolate. Customers also favor it much while marinating cheese and meat and creating different sauces.

The Greek Yogurt Market is Growing as Consumer Preferences are Shifting toward Nutrient-rich and Healthy Food Items

The shift in customer preferences toward healthy and nutrient-rich food items and the rise in health consciousness among consumers are two key factors influencing the worldwide Greek yogurt industry. Greek yogurt has become incredibly popular among customers as a result of the rising demand for fat-free and weight-loss goods. Greek yogurt is frequently used in Western countries to prepare meals and is also eaten as a sweet snack when combined with fruits. Its use in the food and beverage business has grown due to its ability to substitute for items like sour cream, smoothies, cream cheese, and butter.

The advent of authentic Greek yogurt made with natural and organic ingredients has also fueled the market's expansion. Customers are increasingly favoring food sources that are chemical-free, gluten-free, and made using biological processes. Additionally, factors, including escalating urbanization, a rise in the middle class, a rapid increase in internet sales, etc., are accelerating the market's expansion.

The demand for clean-label products is being driven by customers' increasing knowledge of the need for transparency in the ingredient list of food items. The Institute for Food Technologists defines a clean label as using the fewest ingredients possible while ensuring that the client can identify the ingredient lists as being healthy. The demand for clean-label goods is also growing due to the strict laws and restrictions established by regulatory agencies like the Food and Drug Administration (FDA).

Individuals with lactose Sensitivity are Unable to Consume Greek yogurt, which Limits the Market's Potential Growth

There are difficulties in the global Greek yogurt market. Global market expansion is anticipated to be constrained by important factors, including the rise in people who suffer from lactose sensitivity and the development of a new type of frozen yogurt derived from milk.

Innovations with New Technologies and Flavors are the Key Greek Yogurt Market Trends Leading to Growth Opportunities

The dairy business is also benefiting from a plethora of technological developments that drive down costs. Businesses that have implemented updated technology have enhanced decision-making processes by obtaining current data straight from the dairy processing plants. According to Activia, over 30% of consumers claimed that the pandemic led them to try more functional foods and drinks.

Customers spend more money at stores that provide a wide selection of goods. Greek yogurt producers pay close attention to these consumer sentiments and use a variety of tastes to get customers to buy their goods. This increases sales and propels the worldwide expansion of Greek yogurt.

Europe is Poised to Dominate the Global Greek yogurt Market as Health Consciousness Increases

Europe holds a leading Greek yogurt market share. Europe is anticipated to own a majority of the global market share of more than 39.0% by the end of 2022. The Greek yogurt sector has a myriad of unexplored prospects that are driving the local market.

Due to the rising awareness of the health advantages of Greek yogurt intake, the region is expected to maintain its dominance during the forecast period. Furthermore, it is anticipated that the developing Eastern European market may outperform Western European markets, where dairy sales are declining as a result of the growing acceptance of dairy-free alternatives.

Several yogurt makers in Europe are updating their automated fresh milk production line-based facilities due to rising demand for different types of yogurt, including high protein yogurt, natural yogurt, lactose-free greek yogurt, low-fat yogurt, sugar-free greek yogurt, high protein dairy-free yogurt, zero sugar yogurt, unsweetened greek yogurt, natural greek yogurt, etc.

Rising Demand for Fermented Milk Products is Pouring the North American Greek Yogurt Market

North America also holds a significant market share, estimated to be 33.2% by the end of 2033. The population of health-conscious customers in the North American market is expected to increase significantly throughout the forecast period as a result of the region's serious obesity issue.

This results in consumers' lifestyles and preference for healthy snacks, as Greek yogurt is considered one of the best healthy on-the-go snack items. However, this region still has the potential individuals that still prefer to consume fast food.

This also raises the demand for fermented milk products like full-fat yogurt, cheese, and butter. Hence, Greek yogurt drastically transformed American yogurt preferences, and its widespread consumer acceptance contributed to higher Greek yogurt sales.

Startups are Experimenting and Trying Different Formulas to Woo the Consumers

As the Greek yogurt market is comparatively new, the startup has a great opportunity to expand its business. Hence, they are experimenting by releasing premium varieties and promoting yogurt with granola and other snacks to millennials.

For instance, Epigamia, an Indian startup, produces Greek yogurt for lactose-sensitive individuals with coconut milk along with regular Greek yogurt. They also have sugar-free options for the diabetic and obese populations.

Key Players are Focusing on Crafting New and Distinctive Flavors to Grab the Attention of Consumers

Greek yogurt industry participants employ a wide range of strategies to achieve a competitive edge. They are spotting new trends to develop new products and upgrade them. They concentrate on growing their consumer base by providing unique and flavorful items.

The worldwide Greek yogurt industry offers a variety of additional well-liked varieties in addition to plain Greek yogurt, including strawberry, vanilla, raspberry, and blueberry. They have noticed that the top two trends driving the expansion of the Greek yogurt business are consumer desire for flavor fusion in Greek yogurt as well as sustainable packaging.

Example:

• In January 2022, with their collaborative ‘Go Bananas for Breakfast!’ campaign, Chiquita bananas, General Mills Big G cereals, and Yoplait yogurt are demonstrating that a healthy breakfast doesn't always have to be expensive or difficult. Sometimes, it's as easy as having cereal with a banana and yogurt on top.
• In August 2021, to be more environmentally friendly, Chobani announced that paper cups may replace the plastic packaging on its single-serve oat blend yogurts.
• CP-Meiji expanded its product line by introducing an intriguing new spoonable yogurt in Thailand in July 2022. This yogurt with orange flavor has a special nata de coco infusion that gives it a mouthwatering blend of citrus flavor and chewy coconut jelly texture. Customers can have a delightful and refreshing yogurt experience thanks to this product. The new yogurt is readily available to Thai customers looking for a distinctive and tasty choice in several retail locations, including 7-Eleven.

Key Players

• Chobani LLC
• Stonyfield Farm Inc
• FAGE International S.A.
• GROUPE DANONE
• General Mills, Inc.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 7.1% from 2023 to 2033
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in USD million, Volume in Kilotons, and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Package Type, Nature, Flavor, Distribution Channel, Product Type, Region
Regions Covered	North America; Latin America; The Asia Pacific; The Middle East and Africa; Europe
Key Countries Profiled	United States, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa
Key Companies Profiled	Chobani LLC; Stonyfield Farm Inc; FAGE International S.A.; GROUPE DANONE; General Mills, Inc.
Customization	Available Upon Request

Greek Yogurt: Market Segmentation

By Package Type:

• Cups & Tubs
• Bottles

By Nature:

• Conventional Greek Yogurt
• Organic Greek Yogurt

By Flavor:

• Plain
• Strawberry
• Blueberry
• Vanilla
• Others

By Distribution Channel:

• Supermarket/Hypermarket
• Convenience Stores
• Online Stores
• Others

By Product Type:

• Full-Fat Yogurt
• De-Fat Yogurt
• Fat-Free Yogurt

By Region:

• North America
• Latin America
• Asia Pacific
• The Middle East and Africa
• Europe

Frequently Asked Questions

What is the Current Greek Yogurt Market Size?

The market is anticipated to be valued USD 7,851.8 million in 2023.

What is the Estimated Market Growth From 2023 to 2033?

The market is estimated to evolve at a CAGR of 7.1% till 2033.

What is the Market's Growth Perspective in North America?

North America anticipates to retain a sizable market position, with a 33.2% share by 2033.

What Will the Market Size be in 2033?

By 2033, the market is estimated to be worth USD 14,991.9 million.

What is the Market's Growth Prospect in the Europe?

In Europe, the market share to stand at 39%.