Greek Yogurt Market by Type (Whole Milk, Low Fat, and Nonfat), Flavor (Plain, Strawberry, Blueberry, Vanilla, and Others), Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Online Stores, and Others), and Source (Organic and Conventional): Global Opportunity Analysis and Industry Forecast 2020–2027
The Greek yogurt market size was valued at $7.2 billion in 2019, and is projected to reach $11.2 billion by 2027, growing at a CAGR of 10.9% from 2019 to 2027. Fermented dairy products are major source of probiotic bacteria. Fermented milk is prepared through inoculation of culture and enzyme, which converts lactose to lactic acid. This inoculation and fermentation process of milk offers various range of products such as butter, cheese, yogurt, Kefir, and others. Flavored yogurt is a fermented dairy product with added flavors and multiple health benefits. It is a preferred breakfast, snack, dessert, or beverage among health-conscious consumers. The fermented milk products mainly yogurt, butter, and cheese have gained popularity, as they have higher demand in various fast foods.
Flavored yogurt is available in the market in various product types such as set, frozen, drinkable, and Greek. Greek yogurt is yogurt that is been strained to remove its whey content, which results in a thicker consistency of yogurt than the regular unstrained yogurt, while preserving the original yogurt's distinctive sour taste. Greek yogurt is often made with fermentation process. Additives such as sweeteners, flavors, and fruits are used to enhance the aroma, taste, and consistency of yogurt products. Food & beverage manufacturers have invested a lot in R&D to enhance characteristics, taste, and nutritional value of flavored Greek yogurt.
Greek yogurt has almost every nutrient needed for the human body and is considered as an effective food for weight loss and nutritional diet. It is rich in a range of nutrients including calcium, vitamins, and trace minerals such as phosphorus, magnesium, and potassium. Significant protein content in the Greek yogurt influences appetite control and suppresses hunger. Moreover, certain variety of yogurts available in the market are enriched with probiotics, which help in boosting the digestive health, by reducing common gastrointestinal disorder symptoms such as diarrhea, bloating, and constipation. The above mentioned nutrients such as probiotics, vitamins, and minerals, are beneficial in prevention of illness and enhancement of immunity as well as play a major role in bone health, reducing osteoporosis. In addition, yogurt improves heart health by maintaining blood pressure and increasing good HDL cholesterol. These health benefits of yogurt are anticipated to drive the growth of the global flavored yogurt market during the forecast period. Apart from health benefits, fermentation process helps to prolong the shelf life of the dairy products and also enhances the taste and aroma of the products. Hence, versatile properties exhibited by Greek yogurt are attributed to the significant growth of the Greek yogurt market.
Growth in demand for flavored yogurt in emerging nations is attributed to the rise in disposable income, innovative flavors of Greek yogurt products offered by key players, and increase in health awareness among consumers. This is expected to provide numerous opportunities for the expansion of the global Greek yogurt market.
However, presence of additives and stringent regulations related to strain of culture used in fermentation of milk limits the market growth.
Some of the key macroeconomic factors such as rise in health awareness and surge in per-capita income also play an important role in contributing to the overall growth of the Greek yogurt market. However, Asia-Pacific is expected to exhibit significant growth in the future, owing to rise in demand for different types flavored Greek yogurt such as butter and cheese consumed in fast food products. In addition, the region has witnessed considerable surge in the number of millennials, who are the forefront consumers of fermented Greek yogurt.
The Greek yogurt market is segmented into type, flavor, distribution channel, source, and region. By product type, it is categorized into whole milk, low fat, and nonfat. By flavor, it is classified into plain, strawberry, blueberry, vanilla, and others. By distribution channel, the market is divided into supermarket/hypermarket, convenience stores, online stores, and others. By source, it is bifurcated into organic and conventional. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key companies profiled in the report include Chobani Global Holdings, Inc., FAGE International S.A, General Mills Inc.(Yoplait), Danone S.A., Stonyfield Farm (lactalis), Nestlé S.A., Unternehmensgruppe Theo Müller, The Hain Celestial Group (The Greek Gods), The Kroger Co., and Wallaby Organic.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging market trends and opportunities in the fermented milk market.
The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate the prevailing market opportunities.
A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.
KEY MARKET SEGMENTS
By Distribution Channel
Rest of Europe
Rest of Asia-Pacific
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