Yogurt Market Size , Industry Analysis | Report 2031

Report Description

Yogurt Market Outlook 2031

The global yogurt market size was valued at USD 42,312.09 Million in 2022 and is likely to reach USD 75,062.68 Million by 2031, expanding at a CAGR of 5.9% during the forecast period, 2023–2031. The growth of the market is attributed to the availability of numerous flavors and growing consumer indulgence in exotic flavors.

Yogurt is defined as food produced by bacterial fermentation of milk. The bacteria used to make yogurt are called yogurt cultures. The fermentation of sugar in the milk by these bacteria produces lactic acid, which acts as a milk protein to give yogurt a characteristic texture and tart flavor.

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Cow milk is most commonly used to make yogurt. Milk from water buffalo, goats, mares, camels, yaks, and plant milk can also be used to produce yogurt. Each type of milk produces substantially different results, which depend on the homogeneity and pasteurization of milk.

To produce yogurt, milk is usually first heated, usually to about 85 °C (185 °F), to denature the milk proteins, so that they do not form curd. After heating, the milk is allowed to cool to about 45 °C (113 °F). The bacterial culture is mixed in, and the temperature of 45 °C is maintained for four to 12 hours to allow fermentation.

Yogurt is consumed in various forms such as beverages, desserts, snacks, protein-rich sports drink, and meal replacements, among others. It provides benefits such as healthy digestion, lower risk of type 2 diabetes, protection against colorectal cancer, and improved immune system.

Yogurt Market Dynamics

Major Driver

Growing awareness about the health benefits of yogurt is expected to positively impact the market growth. Yogurt contains some essential nutrients for body needs including 28% daily phosphorus, 12% potassium, and 10% magnesium if taken a cup daily.

It helps to regulate bone health, blood pressure, and metabolism. Some research shows that probiotics help in reducing the severity of colds. Thus consumption of yogurt for maintaining health is expected to drive the market in the coming years.

Existing Restraints

Rising usage of artificial additives and ingredients in yogurt is expected to hinder the market growth. According to research the sugar in yogurt is expected to be worse than ice cream which in turn affects health thus restraining the market.

Flavored yogurt contains a high amount of sugar which results in various heart diseases thus hindering the market.

Emerging Opportunities

Ongoing R&D activities and increasing modernization in the yogurt products offered are expected to create lucrative opportunities for the industry players during the forecast period.

Key market players are largely investing in research and development (R&D) activities to launch plant-based yogurt. Several market players offer organic, fruit, and drinkable yogurt which in turn creates opportunities for the market players.

Scope of Yogurt Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Yogurt Market Segment Insights

Based on type, the market is segmented into drinkable yogurt and spoonable yogurt. The drinkable yogurt segment is anticipated to account for a large market share during the forecast period. Yogurt drinks come in recloseable carton packs or are provided with a convenient drinking straw.

Drinkable yogurts, yogurt smoothies, lassi, and kefir all stand out as better beverage options for consumers that are interested in protein-rich products owing to their functional probiotics.

In terms of category, the global yogurt market is divided into dairy-based yogurt and non-dairy based yogurt. The non-dairy based yogurt segment is expected to hold a major market share owing to the growing trend of veganism globally. On the other hand, dairy-based yogurt is expected to grow at a steady rate in the projected timeline.

Based on fat content, the global market is trifurcated into fat free, regular, and low fat. The fat free segment is expected to expand at a rapid pace during the forecast period. Fat free yogurt contains probiotics and is also easy to make.

It is made with skim milk. Kefir is a liquid yogurt for drinking. Fat free yogurt helps to save calories and is a better source of calcium. 

On the basis of flavor, the market is classified as plain yogurt and flavored yogurt. The flavored yogurt segment holds a significant market share due to the pleasant taste and easy availability of this type of non-flavored yogurt. Flavored yogurt comes in different flavors and textures, which attract customers during the time of purchase.

In terms of packaging, the global yogurt market is segmented into tetra packs, plastic bottles, glass containers, ceramic jars, and others. The tetra pack segment is projected to hold a key share of the market. Tetra Pak is made from aseptic packaging solutions. In this process, the product and its package are sterilized independently and combined, and sealed in a sterile atmosphere.

Tetra Pak cartons are widely used in the food and beverage industry as it consists of low-density polyethylene (LDPE), paper, and aluminum. Tetra packs are healthier for yogurt as it is a six-layered carton that helps to prevent bacteria.

The glass container segment is further growing at a considerable CAGR during the forecast period. Glass containers are preferred to use for setting curd owing to the presence of bacteria in several other containers or metal bowls.

The rigidity of the glass helps in maintaining the integrity of the yogurt and enables the yogurt to stabilize without using added gelatin or cornstarch.

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Based on distribution channel, the global yogurt market is categorized as food service channels, hypermarkets/supermarkets, convenience stores, online retail stores, and others. The hypermarkets/supermarkets segment is anticipated to dominate during the forecast period owing to the easy availability of preferred yogurt brands due to the presence of organized shelves.

Regional Analysis

In terms of region, the market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is to exhibit a robust CAGR during the forecast period. Rising consumption of yogurt owing to its probiotic range of products, ability to improve metabolism, enhance digestion, and support the immune system is driving the market growth in the region.

Yogurt is also consumed as a dessert and is offered in varieties, such as fruit yogurt, organic yogurt, and drinkable yogurt, which are well-received by consumers in the region.