The global Greek Yogurt Market size is expected to reach USD 46.5 billion by 2028, expanding at a CAGR of 7.0% from 2021 to 2028, based on a new report by Grand View Research, Inc. A shift in dietary consumption coupled with the growing adoption of probiotic-rich foods has been propelling the demand for Greek yogurt. Moreover, the rising popularity of Greek yogurt as a healthy snacking option is one of the major drivers fueling the market growth. Key players such as Danone and Chobani are introducing Greek yogurt in premium flavors by combining fruit and yogurt, thereby gaining attention from health-conscious consumers.
The
high number of COVID-19 cases and lockdowns across the world contributed to the
rise in the retail sale of yogurt and other dairy products as several consumers
stockpiled dairy products such as yogurt and cheese. Moreover, the decreased
access to hotels and restaurants during the pandemic increased the demand for
healthy, ready-to-eat snacks, thereby proliferating the demand for Greek
yogurt. As per Lecico GmBH, due to the shifting consumer preferences, customers
are more likely to read product labels to confirm if they meet the nutrition
standards.
Also,
several innovations with the use of technology are providing cost-saving
opportunities for the dairy industry. Companies that have adopted newer
technologies have an improved decision-making process by receiving present data
directly from the dairy processing plants. In 2021, Danone North America
launched multi-serve yogurt tubs to cater to consumer demand. According to
Activia, close to 30% of consumers stated that they tried more functional foods
and beverages due to the pandemic.
Related Press
Release@ Greek
Yogurt Market Report
List of Key Players in the Greek Yogurt Market
- Chobani
Holdings LLC
- Danone
- Fage
International S.A
- Nestle S.A
- General
Mills, Inc.
- Parmalat
S.p.A
- Muller UK
& Ireland Group
- The Kroger
Co.
- Wallaby
Yogurt Company
- The Hain
Celestial Group
- Stonyfield
Greek Yogurt Market Report Highlights
- Based on
flavor, the strawberry segment held the largest revenue share in 2020
owing to the popularity of the strawberry-flavored yogurt
- In 2019,
Chobani launched Greek yogurts combined with different kinds of nut butter
which provide more protein and fewer sugar options. The different flavors
include vanilla, plain, and honey with almond nut butter and vanilla with
cashew butter
- In 2020,
Europe held the largest market share owing to a rise in disposable income,
high demand for probiotics, and growing demand for organic milk in
the region
- Asia Pacific
is anticipated to witness the fastest growth during the forecast period
from 2021 to 2028. In 2018, The Yogurt Shop from Australia introduced
several kinds of fruit-flavored Greek yogurt products in the country to
gain traction in the Chinese market. The company is expecting to triple
its sales by 2022
- The market
is characterized by the presence of several players such as Muller UK
& Ireland Group, Chobani, and Fage International S.A
Related Reports@
Greek Yogurt Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 28.95
billion |
|
Revenue forecast in 2028 |
USD 46.5 billion |
|
Growth rate |
CAGR of 7.0%
from 2021 to 2028 |
|
Base year for estimation |
2020 |
|
Historical data |
2016 - 2018 |
|
Forecast period |
2021 - 2028 |
Greek Yogurt Market Segmentation
Grand
View Research has segmented the global greek yogurt market based on flavor,
distribution channel, and region:
Greek Yogurt Flavor Outlook (Revenue, USD Million, 2016 -
2028)
- Strawberry
- Vanilla
- Blueberry
- Peach
- Others
Greek Yogurt Distribution Channel Outlook (Revenue, USD
Million, 2016 - 2028)
- Supermarkets
- Convenience
Stores
- Online
- Others
Greek Yogurt Regional Outlook (Revenue, USD Million, 2016
- 2028)
- North
America
- U.S.
- Rest of
North America
- Europe
- U.K.
- Germany
- France
- Spain
- Denmark
- Russia
- Rest of
Europe
- Asia Pacific
- China
- Japan
- India
- Rest of
Asia Pacific
- Central
& South America
- Brazil
- Argentina
- Rest of
Central & South America
- Middle East
& Africa
- South
Africa
- Rest of
Middle East & Africa
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-95196
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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