Global Yogurt Market to Reach US$ 199.7 Billion by 2032, Fueled by Rising Demand for Healthy Food Products

January 11, 2022 | Food & Beverages

According to the latest report by IMARC Group, titled “­­Yogurt Market Report by Product Type (Set Yogurt, Greek Yogurt, Yogurt Drinks, Frozen Yogurt, and Others), Flavor (Strawberry Blend, Vanilla, Plain, Strawberry, Peach, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others), and Region 2024-2032,” the global yogurt market size reached US$ 120.7 Billion in 2023. Yogurt is a dairy product with a thick, creamy texture and tangy taste. It is made by heating milk to a precise temperature and cooling it before fermenting it with specific bacterial cultures such as streptococcus thermophilous or lactobacillus bulgaricus, acidophilus, and rhamnose. Yogurt is a rich source of nutrients, including protein, calcium, riboflavin, potassium, magnesium, and probiotics. It offers numerous health benefits, such as improving gut health, decreasing low-density lipoprotein (LDL) cholesterol in the blood, boosting immunity, reducing inflammation, curing vaginal yeast infections, and promoting heart health. Yogurt is also used in several sweet or savory dishes, such as smoothies, dips, dressings, and marinades, and is marketed in a wide variety of flavors, including strawberry, vanilla, peach, mango, and more. 

Global Yogurt Market Trends:

The rising health consciousness among individuals, especially millennials, and the growing demand for low-calorie, high-protein, and healthier desserts represents the key factor driving the yogurt market growth. Besides this, the escalating consumer awareness about the health advantages of consuming yogurts, including weight loss, improved immune system function, and reduced risk of osteoporosis, type 2 diabetes, and colorectal cancer, is acting as another growth-inducing factor. Moreover, continuous product diversification, such as the introduction of different flavors and textures of yogurt, such as Greek, set, frozen, and drinkable yogurt, to meet the evolving demands of consumers is presenting remunerative growth opportunities for the market. Concurrent with this, the largescale demand for almond, soy, and lactose-free yogurt, due to the expanding prevalence of lactose intolerance in individuals is creating a positive outlook for the market. In addition to this, the escalating demand for ready-to-eat (RTE) products, the increasing number of fast-food chains, and the widespread product utilization in bakery products, such as cakes and pastries, are aiding in market expansion. Furthermore, inflating disposable incomes, product premiumization, the employment of innovative packaging designs, easy product availability through supermarkets and convenience stores, and proliferating online retail channels are contributing to the market growth. Looking forward, the market value is projected to reach US$ 199.7 Billion by 2032, expanding at a CAGR of 5.6% during 2024-2032. 

Market Summary:

  • Based on the product type, the market has been segregated into set yogurt, Greek yogurt, yogurt drinks, frozen yogurt, and others.
  • On the basis of the flavor, the market is classified into strawberry blend, vanilla, plain, strawberry, peach, and others.
  • Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others.
  • On a regional basis, the market has been segmented into Asia Pacific, European Union, North America, Eastern Europe, Latin America, and others.
  • The competitive landscape of the market has also been examined, with some of the key players being Lactalis Group, General Mills Inc., Nestle, Friesland Campina, Danone, and Yili Industrial Group Co. Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion, Million Metric Tons
Segment Coverage Product Type, Flavor, Distribution Channel, Region
Region Covered Asia Pacific, European Union, North America, Eastern Europe, Latin America, Others
Companies Covered Lactalis Group, General Mills Inc., Nestle, Friesland Campina, Danone and Yili Industrial Group Co. Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Yogurt Market to Reach US$ 199.7 Billion by 2032, Fueled by Rising Demand for Healthy Food Products
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