Popular culture: Revenue grows as consumers turn to healthy and premium yoghurts
The Yoghurt Production industry has expanded over the past five years, supported by consumer perceptions of industry products as healthy food options. Manufacturers have boosted production volumes, particularly of premium and Greek yoghurts, to meet growing domestic demand. These types of yoghurt attract higher sales prices and help boost industry revenue. Sales were boosted during periods of consumer stockpiling in response to COVID-19 lockdowns in 2019-20 and 2020-21. However, weaker downstream sales to food-service businesses have constrained revenue growth. Rising overseas incomes and Australia's reputation for producing safe and high-quality dairy products have helped lift export volumes over the period. Industry revenue is expected to rise at an annualised 1.5% over the five years through 2022-23, to reach $1.9 billion. This trend includes growth of 0.2% in the current year, with the decline in consumer income driven by rising interest rates and inflationary pressures expected to limit sales of premium yoghurt varieties.
Industry operators primarily manufacture yoghurt and yoghurt drinks. The industry excludes frozen yoghurt products.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Lactalis Australia Pty Ltd
- Chobani Australia Pty Ltd
- Bega Cheese Limited
Methodology
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