The projected worldwide market size of flavored yogurt is going to be USD 37,523 million in 2024. Throughout the forecast period, the sector is assessed to expand at a steady 5.7% CAGR. By 2034, global flavored yogurt sales are projected to reach USD 65,268 million.
From its reputation as a simple, plain fermented milk product, the flavored yogurt segment has traveled a long distance. Taking cues from the emerging consumption habits of flavored yogurt, players are coming up with convenient drinkable, spoonable yogurts, and frozen yogurt treats.
Consumers are becoming considerably sensitive to the environmental impact of the products they buy. Thus, more opportunities are opened up for flavored yogurt players who focus on sustainable packaging solutions, ethical sourcing practices, and food waste reduction.
Global Flavored Yogurt Industry Assessment
| Attributes | Description |
|---|---|
| Estimated Size, 2024 | USD 37,523 million |
| Projected Size, 2034 | USD 65,268 million |
| Value-based CAGR (2024 to 2034) | 5.7% |
Several players are working on building strong distribution channels to lend consumers greater accessibility to the product. A considerable number of brands have increased their presence on e-commerce websites as well, with the idea of acquainting consumers with the product.
The new yogurts have the quality of being a fuss-free and swift snack option. Additionally, this yogurt kind meets the tastes and likes of children with its sweet flavor profiles, thus making it popular among all age groups.
Players are focusing on minimizing the use of sugar and artificial additives in these yogurt kinds. For instance, they are creating sugar-free or lower-sugar alternatives, thereby ensuring a natural, wholesome, healthy choice.
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Trends Defining the Future of the Flavored Yogurt Industry
The flavored yogurt sector is brimming with innovative trends. A key focus area of players is to bring more plant-based alternatives to customers. With the growth of the lactose-intolerant population and veganism, players are increasingly producing yogurts made with kinds of milk like oat, coconut, or soy. Thus, offering the same creamy texture and tasty flavors without the use of dairy.
Players are venturing into exotic and unique flavors to satiate consumers' adventurous palates. The inclusion of ingredients like turmeric or matcha is seeing the product acquire a fresher feel. As consumers are increasingly becoming health-conscious, players are delivering low-sugar yogurts or utilizing alternative sweeteners to serve the growing demand.
Potential Opportunities for Flavored Yogurt Manufacturers
Potential opportunities are present for providers of flavored yogurts as they sense the emerging consumer interest in foods that are fortified with probiotics or prebiotics. Moreover, mineral-infused, vitamin-enriched, and protein-rich yogurts are considered to help cater to increasing demand based on specific dietary needs.
Subscription boxes allow players to make such special, unique, and personalized yogurt experiences available to customers. Consumers are able to choose toppings, profiles, and even the frequency of delivery as the need suits them.
Restraining Factors Impeding the Growth
Strict laws in certain regions related to the use of sugar content in food products are pressurizing yogurt providers to reformulate products with reduced sugar content or include a sugar-free alternative. This impacts the taste and appeal of the product, dissuading consumers from making the purchase.
Players are also strained by the fluctuating raw material costs, like fruits and milk. Such fluctuations induce restricted profit margins for firms. Further, the pressure to provide competitive pricing, meanwhile maintaining the high-quality standards in terms of ingredients used is also a key hurdle for players.
The section highlights the growth predicted for the industry in semi-annual periods. During the first half (H1) of 2023 to 2033, the industry is set to book a CAGR of 5.5%. In contrast, the CAGR for the second half (h2) is predicted to be 5.7%.
| Particular Value | CAGR |
|---|---|
| H1 | 5.5% (2023 to 2033) |
| H2 | 5.7% (2023 to 2033) |
| H1 | 5.9% (2024 to 2034) |
| H2 | 5.9% (2024 to 2034) |
Over the forecast period, the flavored yogurt market is expected to foresee a 5.9% CAGR growth in the first half of the 2024 to 2034 period. In the latter part of the decade, a 5.9% CAGR has been assigned for the target sector.
Principal Consultant
The global flavored yogurt industry generated a revenue of USD 29,785 million in 2019. By 2023, the valuation reached USD 34,112 million, registering a 5.8% CAGR. Awareness surrounding gut health took a spike during this period.
Growth in the knowledge base about probiotics induced consumers to purchase yogurt as a functional food. The period was also marked by the coronavirus outbreak which caused an economic shutdown and severely impacted businesses. These happenings affected the market dynamics of the flavored yogurt industry.
In 2024, the sector is projected to be valued at USD 37,523 million. The industry is estimated to account for USD 65,268 million by 2034, recording a 5.7% CAGR. Industry growth is projected to be led by the rising introduction of broader flavor variety, such as exciting new combinations and international options. This keeps the category fresh and enticing for the wider customer base.
Tier 1 companies, those with international presence, are estimated to account for a 30% share of flavored yogurt’s MCR. Players in this category heavily invest in research studies and development projects to beat the competition. These efforts allow them to arrive at exciting flavors and formats (like drinkable yogurt) and serve dietary trends such as plant-based options.
Big players are also using their marketing budgets for promotions and targeted advertising campaigns to stay at the forefront. Participants in this category have strong brand recognition, which they are using to enhance loyalty and consumer trust. Due to their large production volumes, they can also negotiate better deals with suppliers and keep their costs low.
Tier 2 companies, those with regional presence, are expected to hold 25% of MCR. Players in this category are sponsoring local events, offering community-driven promotions, or partnering with local farms for ingredients to foster brand loyalty and a sense of support for the local business ecosystem.
Tier 2 players quickly adapt to regional preferences and likes as well as cater to niche markets within the region. Their agility thus stands in stark contrast to slower production cycles and the adaptation of larger companies.
Tier 3 companies, with local presence, account for a leading share of 45% of MCR. Unique local flavors offered by these players resonate with local consumers. For this, players use local spices, fruits, or cultural ingredients that are missed by foreign brands.
Tier 3 players play on the freshness of their products by utilizing local milk sources and shorter production cycles. As a result, they appeal to consumers seeking minimally processed and high-quality yogurts.
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The table below offers a flavored yogurt industry overview for leading countries. In the United States, product sales are projected to be sustained. Growth projections for Germany and Italy are predicted to be promising, with more consumers showing a preference for plant-based options in various enticing flavors.
In Indonesia and India, players are expected to find profitable prospects over the next ten years. India and Indonesia are the top Asian markets for flavored varieties of yogurts.
| Countries | CAGR 2024 to 2034 |
|---|---|
| United States | 5.5% |
| Germany | 5.9% |
| Italy | 6.7% |
| India | 5.9% |
| Indonesia | 6% |
The United States flavored yogurt sector is set to expand at a 5.5% CAGR over the assessment period. The market analysis of flavored yogurt takes into account various growth drivers and disrupters influencing growth in the nation.
In the United States, Greek yogurt is obtaining widespread fame owing to its many health benefits, more than the regular variant available in the flavored yogurt market. With innovation in recipes, chefs are preparing different salads using flavored yogurt, to elevate their dishes.
Growing health-conscious consumers across the nation are also spending their money on these nutritive products. Players are acquiring smaller competitive players that serve the target audience to increase their value share.
For instance, In June 2023, Unilever announced the acquisition of Yasso Holdings, Inc. Latter firm is a leading frozen Greek yogurt brand with a presence in the United States.
The sector is rapidly expanding in Italy, with an estimated CAGR of 6.7% over the forecast period. Growth factors influencing the flavored yogurt market include the availability of creamy flavored yogurt consisting of 100% Italian milk. Their appeal and marketing campaigns are based on their nutritive value as they offer vitamins, calcium, protein, and live milk enzymes.
Popular flavors of yogurt in Italy are coffee, fruit, and cereal flavors. Further, people in Italy are continuously on the lookout for healthy and convenient afternoon and breakfast snack options. This product fits the requirements, thus providing a tasty and nutritious option for consumers.
The future forecast of the flavored yogurt market in India looks optimistic, with sales set to surge at a 5.9% CAGR over the next ten years. Consumers in India are increasingly seeking healthy delectable treats that are renowned for their digestive advantages and probiotic content.
Players are launching new flavors, including international and local options, to meet the changing taste preferences. Thus, keeping the intrigue of consumers intact. Apart from this, producers are offering nutritious and tasty options developed from alternative milks like coconut, soy, or oat to cater to vegan and lactose-intolerant consumers.
Companies operating in India are also investing significantly in the promotion of the health benefits of yogurt, like improved digestion and gut health. Along with this, product sales are rising due to surging demand for healthy yogurt options in convenient packaging among busy consumers.
Given below are the top segments in the sector. The spoonable segment in the form category is predicted to record a significant share of 56.7% in 2024. Under the flavor category, the strawberry segment is anticipated to obtain a 22.6% value share in 2024.
| Segment | Spoonable (Form) |
|---|---|
| Value Share (2024) | 56.4% |
The spoonable segment is projected to account for a substantial 56.4% value share in 2024. Spoonable yogurts provide a convenient and mess-free way to relish yogurt. This format type allows brands to serve busy lifestyles and portion control needs. Thus, making it a healthy snack option and grab-and-go breakfast.
| Segment | Strawberry (Flavor) |
|---|---|
| Value Share (2024) | 22.6% |
Strawberry-flavored yogurt is estimated to hold 22.6% share in the flavored yogurt market by 2024. This flavor is a classic and a favorite among the masses. Consumers purchase this yogurt flavor as it refreshes their childhood memories and leaves them with a sense of comfort. As a result, manufacturers safely bet on this flavor to have its run in the future.
Key players in the flavored yogurt industry are investing their funds to come up with an exciting variety of flavors to cater to adventurous taste buds. As players roll out innovative yogurt, their annual revenues are expected to snowball over the period.
Players are positioning their yogurt-based product offerings as healthy snack options. Thereby, quickly adapting to the emerging demand for probiotics that contain live bacteria beneficial for health.
Growth in lactose intolerance and veganism is pushing the demand for plant-based yogurt developed from coconut, soy, or other alternatives. As a result, players are placing more emphasis on plant-based yogurt options.
Industry participants are making the product a convenient on-the-go option by offering it in single-serve and drinkable packages. By doing so, they serve the growing working population. Players are further employing clever marketing campaigns and attractive packaging to influence consumers’ purchase decisions.
Industry Updates
The flavored yogurt market is segmented, based on form, into drinkable and spoonable.
Extensive variety of product flavors are strawberry, vanilla, blueberry, peach, chocolate, and others.
Prominent end uses of the product are for household consumption and in the HoReCa sector.
Various distribution channels for the product are supermarkets/hypermarkets, convenience stores, online retailers, and others.
Flavored yogurt market analysis has been conducted in regions like North America, Latin America, Europe, East Asia, South Asia, the Middle East and Africa, and Oceania is given in detail in FMI’s latest report.
The industry is projected to reach USD 37,523 million in 2024.
The industry is assessed to register a 5.7% CAGR over the estimated period.
The sector is estimated to reach USD 65,268 million by 2034 end.
Italy is anticipated to record a 6.7% CAGR through 2034.
General Mills, Inc. and Danone S.A. are the top manufacturers.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Form 7.1. Spoonable 7.2. Drinkable 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Flavor 8.1. Strawberry Flavor 8.2. Vanilla Flavor 8.3. Peach Flavor 8.4. Blueberry Flavor 8.5. Chocolate Flavor 8.6. Others 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 9.1. HoReCa 9.2. Household Consumption 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel 10.1. Supermarkets/Hypermarkets 10.2. Convenience Stores 10.3. Online Retailers 10.4. Others 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. South Asia 11.5. East Asia 11.6. Eastern Europe 11.7. Middle East & Africa 12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 18. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 19. Sales Forecast 2024 to 2034 by Form, Flavor, End Use, and Distribution Channel for 30 Countries 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 21. Company Profile 21.1. Nestle S.A. 21.2. Chobani Inc. 21.3. Danone, Inc. 21.4. General Mills, Inc. 21.5. Yakult Honsha Co. 21.6. Cargill, Incorporated 21.7. Britannia Nutrition Foundation 21.8. Arla Foods amba 21.9. Fonterra Co-operative Group Limited 21.10. Lactalis Group
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Flavored Yogurt Market
