The global yogurt market is projected to reach a valuation of USD 79,147.2 million by 2033 from USD 44,808.5 million in 2023. It is set to expand rapidly at a CAGR of 5.9% in the estimated time frame between 2023 and 2033.
Due to yogurt's nutritional advantages, which include the prevention of osteoporosis, type 2 diabetes, and colon cancer, the market is set to escalate at a global level. It is also capable of providing healthy digestion and enhancing one’s immune system.
In the medium term, factors such as availability of a wide variety of flavors, relevance of yogurt's nutritional value, and rising awareness of the importance of healthy eating are set to fuel sales. This is further encouraging manufacturers to concentrate on developing products with innovative flavors and health benefits.
Drinking yogurt also has nutritional advantages such as improving cognitive function, immunity, and bone health. Yogurt drinks are a convenient alternative to yogurt spoons and cups as they come in reusable carton packs and include a handy sipping straw.
This makes them the perfect on-the-go snack. Yogurt with various fruit flavors is offered in the market for the young generation as well, who may not enjoy the taste of yogurt as it is traditionally prepared.
In February 2022, for instance, Starbucks, a prominent coffee chain, introduced Pine Coco Green Yogurt Blended, a new yogurt drink in Korea. The company utilized plant-based yogurt in its beverage for the first time. It aims to expand its plant-based product lines at around 1,500 locations in Korea.
Similarly, in November 2022, TWO GOOD, a leading food & beverage company, introduced a cultured, on-the-go, and convenient dairy drink with no artificial sweeteners and made with real fruit puree. The company’s new smoothies are available in three flavors, namely, peach, strawberry-banana, and mixed berry.
Increasing prevalence of digestive disorders is anticipated to drive yogurt sales in the next ten years. As per the Centers for Disease Control and Prevention (CDC), around 14.8 million adults in the USA were diagnosed with ulcers in 2018. In the same year, about 8.0 million visits were made to emergency departments by patients suffering from digestive system issues.
| Attributes | Key Insights |
|---|---|
| Yogurt Market Estimated Size (2023E) | USD 44,808.5 million |
| Projected Market Valuation (2033F) | USD 79,147.2 million |
| Value-based CAGR (2023 to 2033) | 5.9% |
| Collective Value Share: Top 3 Countries | 34.5% |
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Yogurt sales grew at a CAGR of 5.4% between 2018 and 2022. Yogurt has become increasingly popular backed by emergence of new flavors and trends. Yogurt is a versatile snack that can be consumed on its own or as an ingredient in a wide range of dishes as it is rich in protein and probiotics, both of which are good for intestinal health.
One can also find yogurt that is fortified with added vitamins and minerals, making it a healthy snack choice. Yogurt is often used in recipes as a way to add flavor and texture. It can be substituted for sour cream or mayo in dips, or used as a topping for tacos or salads.
Yogurt is also popular in smoothies and breakfast bowls. There are a wide variety of yogurt flavors to choose from, including fruity and sweet options, as well as savory flavors such as ranch and buffalo.
Future Market Insights confirms growth in the yogurt market in the forecast period as online platforms rapidly assist store buying. Yogurt demand is also increasing with surging need for on-the-go snacking. By creating new technology, yogurt producers hope to escalate their industries and produce products with steady, better potencies at reasonable costs.
Increasing Demand for Ice-cream Substitutes among Children to Aid Sales
The yogurt market is projected to elevate in the next ten years due to significant demand for low fat, low sugar desserts. Macroeconomic variables that can favorably affect the global market include rising demand from children for cooling ice cream substitutes and increasing health consciousness.
On top of that, easy availability of yogurt in a wide range of exotic flavors, including mango, raspberry, blueberry, and strawberry, would spur sales. Several key players are striving to boost their online and offline presence to expand their portfolios and increase sales globally.
A favorable picture for the market is also being created by considerable investments made by key manufacturers in cutting-edge packaging options. Numerous yogurt products, however, share a similar appearance and texture. Hence, manufacturers have to take high efforts into developing their differentiating approach.
Principal Consultant
Yogurts with fruits and flavors on the bottom may be alluring, but they frequently contain a lot of sugar. In certain situations, a single serving of those yogurts provides around the daily recommended sugar intake for adults from the American Heart Association (36 grams for men and 25 grams of sugar for women).
Artificial sweeteners can make one need additional sweets throughout the day, despite the fact that sugar-free flavors are safe and sometimes a fantastic choice. However, cream cheese and mayonnaise, which are frequently calorie-dense and high in undesirable saturated fats, can both be effectively replaced by unsweetened yogurt.
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 4.2% |
| Jul to Dec (H2), 2021 (A) | 4.8% |
| Jan to Jun (H1),2022 Projected (P) | 5.0% |
| Jan to Jun (H1),2022 Outlook (O) | 4.7% |
| Jul to Dec (H2), 2022 Outlook (O) | 6.0% |
| Jul to Dec (H2), 2022 Projected (P) | 5.7% |
| Jan to Jun (H1), 2023 Projected (P) | 5.5% |
| BPS Change : H1,2022 (O) to H1,2022 (P) | 30 |
| BPS Change : H1,2022 (O) to H1,2021 (A) | 48 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | (-) 30 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | (+) 118 |
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| Region | North America |
|---|---|
| Country | USA |
| CAGR | 4.9% |
| BPS Analysis | -96 |
| Market Value (2033) | USD 10,485.2 million |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| CAGR | 5.1% |
| BPS Analysis | -260 |
| Market Value (2033) | USD 3,226.2 million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 4.0% |
| BPS Analysis | -39 |
| Market Value (2033) | USD 2,643.7 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 4.9% |
| BPS Analysis | -394 |
| Market Value (2033) | USD 1,747.5 million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 5.2% |
| BPS Analysis | 143 |
| Market Value (2033) | USD 1,299.4 million |
Launch of New Probiotic Yogurts in India to Push Sales by 2033
According to Future Market Insights, the India yogurt market is anticipated to expand at a significant CAGR of 4.9% over the forecast period. Yogurt has historically been a crucial component of the cuisine in India.
Due to the perceived health benefits that the product offers, yogurt and other fermented milk products have seen an increasing demand in India over the past decade. Yogurt consumption is increasing as a result of launch of new probiotic product lines, its high protein content, ability to boost the immune system, increase metabolism, and ability to enhance digestion.
Due to rising disposable income of India's middle-class, manufacturers expect to use innovative marketing and promotional techniques to boost sales during the forecast period. Increasing awareness in the country regarding numerous health advantages of yogurt is another vital factor that would aid demand.
India has a significant consumer base and a sizable market share of 3.9% globally. Due to its provocation of expansion, the nation is likewise anticipated to see lucrative growth during the forecast period.
Demand for Low Sugar Greek Yogurt to Skyrocket in the USA with Rising Need to Lose Weight
The USA yogurt industry accounted for a dominant share of 23.4% in the global market. It is anticipated to expand at a substantial CAGR of 4.7% during the forecast period. The market is primarily set to be driven by numerous health benefits of yogurt and changing lifestyles.
Surging need to lose weight, awareness about the significance of eating healthy foods, and health advantages of yogurt, would all contribute to demand for the same in the country. Manufacturers in the USA are aiming at reducing sugar content, artificial sweeteners, and preservatives in their products, which would drive demand.
High Demand for Meal Replacement Drinks in the United Kingdom to Propel Sales of Yogurt Cream
According to Future Market Insights, the United Kingdom yogurt industry is expected to register a lucrative CAGR of 5.1% in the next ten years. It is also projected to hold a significant share of 7.2% in the global market.
Yogurt is a common food found in the diet of consumers in the United Kingdom. Increasing use of the product for baking and cooking is likely to drive sales. Increasing mainstream popularity of meal replacement drinks marketed as entire meals is another key factor that would aid sales in the United Kingdom.
The market is further expected to elevate due to variations in lifestyles and a significant impact on the consumption of healthy foods. Yogurt is in high demand from the nation's expanding food processing industry for a variety of applications.
Launch of Healthy Greek Yogurt Worldwide to Propel Demand by 2033
Based on product type, the Greek yogurt segment is projected to exhibit steady growth throughout the evaluation period. Availability of numerous flavors of Greek yogurt that would appeal to people of all ages is a key factor boosting sales.
In October 2022, for instance, Akshayakalpa Organic, a certified organic dairy enterprise based in India, introduced the country’s first Organic Greek Yogurt. It is available in mango and plain flavors. The new products are loaded with probiotics and would help consumers to maintain a good gut health. Launch of such unique products by start-up companies in the world would propel sales of Greek yogurt.
The yogurt market is incredibly fragmented and competitive on a worldwide scale owing to the presence of numerous local and regional rivals. To stay on top, key firms are utilizing a range of marketing strategies such as alliances, purchases, mergers, and collaborations. More than ever, yogurt industry stakeholders are interested in sustainability and certification.
For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 44,808.5 million |
| Projected Market Valuation (2033) | USD 79,147.2 million |
| Value-based CAGR (2023 to 2033) | 5.9% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD million) and Volume (MT) |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Europe, Germany, United Kingdom, France, Italy, Spain, BENELUX, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Vietnam, Philippines, Singapore, Oceania, Australia, New Zealand, Middle East and Africa, Gulf Cooperation Council Countries, Türkiye, Egypt, South Africa. |
| Key Segments Covered | Product Type, Distribution Channel, and Region |
| Key Companies Profiled | NESTLÉ SA; Chr. Hansen Holding A/S Danone Groupe SA; DuPont; Daflorn Probiotics United Kingdom; DSM; Ultima Foods Inc.; General Mills; Protexin; MORINAGA & CO.L.T.D.; Yakult Honsha Co. Ltd; BioGaia AB; Chobani Inc.; Sodiaal S.A; Kraft Foods Group, Inc.; Probi; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The yogurt demand is anticipated to inflate at a 5.9% CAGR from 2023 to 2033.
The yogurt market is poised to grow considerably, surging from US$ 44,808.5 million in 2023 to US$ 79,147.2 million by 2033.
Prominent global yogurt demand is evident in the United States, China, and India due to an upsurge in consumption trends.
Yogurt market leaders sustain competitiveness through innovative product diversification, strategic partnerships, and robust branding approaches.
Consumer yogurt choices are shaped by flavor diversity, health-consciousness, and preference for probiotic-enriched options, driving market dynamics.
1. Executive Summary | Yogurt Market 2. Market Overview 3. Market Dynamics 4. Global Market - Pricing Analysis 5. Value Chain Analysis 6. Global Market Size (in Value (US$ million) and Volume (MT) Analysis 2018 to 2022 and Forecast, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 7.1. Drinks 7.2. Greek Yogurt 7.3. Set Yogurt 7.4. Frozen Yogurt 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution 8.1. HyperMarkets 8.2. Retailers 8.3. Convenience Stores 8.4. Specialist Retailers 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. East Asia 9.5. South Asia 9.6. Oceania 9.7. Middle East & Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Country-level Market, 2022 18. Market Structure Analysis 19. Competition Analysis 19.1. NESTLÉ SA 19.2. Chr. Hansen Holding A/S Danone Groupe SA 19.3. DuPont 19.4. Daflorn Probiotics United Kingdom 19.5. DSM 19.6. Ultima Foods Inc. 19.7. General Mills 19.8. Protexin 19.9. MORINAGA & CO.L.T.D. 19.10. Yakult Honsha Co. Ltd 19.11. BioGaia AB 19.12. Chobani Inc. 19.13. Sodiaal S.A 19.14. Kraft Foods Group, Inc. 19.15. Probi 19.16. Other Players (On Additional Requests) Note: Market Assessment shall be Provided for Likely Scenario 20. Assumptions and Acronyms Used 21. Research Methodology
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