The yogurt market is estimated to grow at a CAGR of 12% over the forecast period of 2024 to 2031 owing to rising demand for healthy and nutritional snacks and food items. Yogurt is a fermented dairy product that is rich in proteins, vitamins, calcium and other essential nutrients. It provides several health benefits such as improved digestion, weight management and boosts immunity.

The yogurt market is estimated to be valued at USD 121.19 Bn in 2024 and is expected to reach USD 173.97 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.

Yogurt Market Trend is consumed globally as a convenient snack, breakfast item and side dish. The market is driven by rising consumer awareness regarding health benefits of probiotic foods as well as innovative product launches catering to various regional tastes and preferences. Major yogurt product types available include set yogurt, Greek yogurt, frozen yogurt and drinkable yogurt.

Key Takeaways

Key players operating in the yogurt market are EpiWorks Inc., Global Wafers Japan Co. Ltd., Nichia Corporation, SHOWA DENKO K.K., Siltronic AG, Desert Silicon Inc., Electronics and Materials Corporation Ltd. Intelligent Epitaxy Technology Inc.IQE plc., Jenoptic AG, MOSPEC Semiconductor Corporation, Norstel AB, Ommic S.A., Silicon Valley Microelectronics Inc., SVT Associates Inc. Universal Wafer Inc., Wafer Works Corporation, Xiamen Powerway Advanced Materials Co. Ltd., and Visual Photonics Epitaxy Co. Ltd.

The demand for yogurt is increasing globally due to rising health consciousness among consumers and inclination towards diet rich in probiotics. Developed markets in North America and Europe account for the highest yogurt consumption currently. However, emerging economies of Asia Pacific such as India, China and Indonesia are expected to drive future growth in demand.

Advancements in yogurt cultures and production techniques have led to novel product launches catering to various consumer needs. Features such as low sugar, high protein, organic and customizable nutrition are driving innovations in the market.

Market Trends
- Rise of private label brands: Large retailers are launching their own private label yogurt brands at competitive rates challenging established brands.
- Focus on probiotic fortification: Companies are focusing on probiotic fortification of yogurts through addition of prebiotics and probiotic cultures to cater to health-conscious consumers.

Market Opportunities
- Growth in foodservice sector: Consumption of yogurt as snacks and breakfast in cafes, restaurants present an opportunity for foodservices operators.
- Innovation in flavors and formats: Exotic fruit flavors, coconut yogurt, yogurt drinks and yogurt snacks represent emerging opportunities for innovative new product launches.

Impact of COVID-19 on Yogurt Market Growth

The COVID-19 pandemic has significantly impacted the growth of the global yogurt market. During the initial lockdown phase imposed by various governments worldwide, there was a sharp decline in demand as consumers were hesitant to visit grocery stores and supermarkets. Supply chain disruptions and labor shortage issues also affected the production and distribution of yogurt products. However, as people started spending more time at home due to restrictions on movement and socializing, the demand for healthy and nutritious food products like yogurt gradually increased. Consumers turned to yogurt for its high protein and probiotic content that can boost immunity. Many yogurt companies responded swiftly by enhancing their online ordering and delivery services to cater to the rising demand. In the post-COVID era, the yogurt market is expected to grow steadily as increased health-consciousness among individuals will continue to drive sales. Companies are also focusing on innovations like premium single-serve products and fortified varieties with additional nutrients to attract more customers in the future.

Geographical Concentration of Yogurt Market

In terms of value, the Yogurt Market Regional Analysis is largely concentrated in Europe. Countries like Germany, France, and the United Kingdom have traditionally generated a major chunk of global yogurt demand over the years due to high per capita consumption levels. The growing health and wellness trends have bolstered market growth across these nations. North America is also one of the leading regional markets, primarily driven by the United States. Availability of new product launches catering to ethnic taste preferences and rising lactose intolerance have boosted the popularity of yogurt in North America.

Fastest Growing Region in Yogurt Market

Asia Pacific is projected to be the fastest growing region for the global yogurt market between 2024-2031. Factors such as rising living standards, expanding youth population, and growing health awareness are fueling the sales of yogurt products in developing Asian countries. China, India, and Japan account for a significant share of the burgeoning yogurt demand in the Asia Pacific region. Manufacturers are targeting these lucrative emerging markets by launching novel product lines, focusing on branding and promotions to build market penetration. The Asia Pacific yogurt industry offers massive untapped growth opportunities to both regional as well as global market players.

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About Author:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

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