The increasing awareness of the health benefits of yogurt acts as a catalyst to the growth of this market. Companies like General Mills, Chobani LLC, and Dannon Company are the major shareholders in the marketplace, accounting for more than 60% of the global demand.
Market Dynamics
The rise in disposable income, along with a shift in the eating habits of consumers, is expected to drive the growth of this market. The increase in awareness of the health benefits of yogurt is also a key driver of this market. As it is rich in calcium and protein, some of the health benefits of yogurt include boosting the immune system, combating diarrhea and constipation, etc. The increasing availability of flavored yogurt is also a driver of this market. The rise in the cost of production poses a threat to the market. The growing demand from developing countries due to the greater involvement of the organized sector would provide a further boost to the industry growth.
The global yogurt market is segmented on the basis of product type into regular yogurt and fat-free yogurt. The regular yogurt contributes more revenue due to the greater adaptability. However, the increasing awareness regarding the consumption of healthy food supports the growth of the fat-free yogurt market. The global yogurt market is further segmented on the basis of form into set yogurt, yogurt drinks, Greek yogurt, and frozen yogurt. The set yogurt is more popular than the others and contributes a higher revenue. The yogurt drinks and frozen yogurt are further segmented into regular and flavored. The global yogurt market is also segmented on the basis of distribution channel into supermarkets/hypermarkets, convenience stores, grocery stores, online, and others.
Regional Analysis
The yogurt market has been geographically segmented into North America, Europe, South America, Africa, and Asia-Pacific. Europe is the major contributor in terms of revenue, followed by Asia-Pacific. In the Asia-Pacific region, China dominates the market, followed by India. The yogurt market is expected to grow substantially in China and Japan during the forecast period due to the rise in demand for flavored yogurt in these countries.
The market for yogurt is highly fragmented. The vendors compete for innovation, pricing, and distribution. The increased adoption of western style and taste has triggered demand among the younger consumers, which encourages companies to innovate new product variants targeting this group. Some of the major players in the market include-
China Mengniu Dairy General Mills Groupe Danone Nestle Key Deliverables in the Study
Market analysis for the yogurt market, with region-specific assessments and competition analysis on the global and regional scale. Market definition along with the identification of key drivers and restraints. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. Extensively researched competitive landscape section with profiles of major companies along with their market share. Identification and analysis of the macro and micro factors that affect the yogurt market on both global and regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. Insights on the major countries/regions where this industry is growing and to also identify the regions that are still untapped.
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