Flavored Yogurt Global Market Report 2024

The global flavored yogurt market has grown strongly in recent years. It will grow from $56.43 billion in 2023 to $60.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. Historical growth can be attributed to the influence of health and nutrition trends, the increasing popularity of dairy-free alternatives, the movement towards clean labeling, and the emergence of a culture focused on snacks.

The global flavored yogurt market is expected to see strong growth in the next few years. It will grow to $82.19 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period is driven by innovative consumption formats, the emphasis on personalization and customization, a focus on transparent health claims, exploration of various dairy sources, and the adoption of eco-friendly packaging solutions. Major trends expected during this period involve the integration of functional ingredients for added health benefits, a wider variety of flavors, the emphasis on convenience and portability in products, and the continued rise of plant-based alternatives within the industry.

The growing health consciousness among consumers, particularly influenced by a wellness-oriented lifestyle and concerns about nutrition and well-being, is set to significantly drive the flavored yogurt market. Yogurt, known for supporting digestive health and weight consciousness, is increasingly favored by health-conscious consumers. A Public Health England survey in January 2021 indicated that 7 in 10 adults were motivated to adopt healthier lifestyles due to the COVID-19 pandemic, with 8 in 10 adults opting to alter their lifestyle in 2021. This trend suggests a heightened motivation among adults, with 43% feeling more inclined to make lifestyle changes compared to the previous year. Consequently, the surge in health consciousness among consumers will elevate the demand for flavored yogurt.

The rise in disposable income, the amount available for spending and saving after income taxes, is anticipated to significantly boost the flavored yogurt market. Flavored yogurt, being a popular choice in the consumer market, is often influenced by changes in disposable income levels. As disposable incomes increase, individuals tend to explore premium and value-added products, including a diverse range of flavored yogurt options. The versatility of flavored yogurt, offering enjoyable taste experiences alongside perceived health benefits, appeals particularly to consumers with higher disposable incomes. For example, between 2020 and 2022, the median household disposable income witnessed an average annual growth of 0.7%, as reported by the UK's Office of National Statistics. This increase in disposable income is a driving force behind the flavored yogurt market's growth.

In the flavored yogurt market, product innovation has emerged as a significant trend. Key companies are focusing on introducing novel products like plant-based yogurt alternatives to provide sustainable options with equivalent health benefits for consumers. For instance, So Delicious Dairy Free, a US-based producer of dairy alternative products, launched its innovative 0g Added Sugar Coconutmilk Yogurt Alternative in March 2023. This yogurt substitute, deriving its sweetness from fruit, sets itself apart as a non-GMO Project verified and certified vegan product. Free from dairy, added sugars, and artificial sweeteners, this innovative yogurt alternative redefines the market's offerings.

Major players in the flavored yogurt market are engaging in strategic collaborations and partnerships to bolster their market positions. These alliances involve structured affiliations between commercial enterprises, often through business agreements or contracts. For instance, Novandie Foods, a France-based yogurt manufacturer, partnered with Heritage Foods, an India-based dairy products company, in February 2021. This partnership aims to expand Novandie's market presence into new regions, particularly India, opening up new markets for their yogurt products.

In May 2022, Lactalis, a renowned dairy products company based in France, completed the acquisition of Jalna Dairy Foods. The financial details of the acquisition were not disclosed. This strategic move entails Lactalis acquiring the yogurt production facilities of Jalna Dairy Foods in Australia, aiming to fortify its presence and operations within the Australian market. Jalna Dairy Foods, situated in Australia, specializes in producing natural and flavored yogurt. Through this acquisition, Lactalis enhances its footprint in Australia, potentially leveraging Jalna Dairy Foods' facilities and expertise to strengthen its offerings in the yogurt segment. This strategic alignment reflects Lactalis' commitment to expanding its market reach and bolstering its portfolio by incorporating Jalna Dairy Foods' capabilities to better serve consumers in the Australian dairy market.

Major companies operating in the flavored yogurt market report are Danone SA, Groupe Lactalis SA, Chobani LLC, Arla Foods AMBA, Emmi Nederland BV, Ultima Foods Inc., Nestlé SA, Sodiaal Union, Theo Müller Group, Parmalat SpA, Rainy Lanes Dairy Foods Limited, Chi Limited, Cargill Incorporated, Mother Dairy Fruit & Vegetable Private Limited, Britannia Nutrition Foundation Co., General Mills Inc., Stonyfield Farm Inc., Valio Ltd., Brown Cow Farm, Cascade Fresh Inc., Ellenos Real Greek Yogurt Co., FAGE International S.A., Forager Project LLC, Horizon Organic Inc., Icelandic Provisions Inc., Liberté Inc., Lifeway Foods Inc., Mountain High Inc., Nancy's Yogurt, and Noosa Yoghurt.

Europe was the largest region in the flavored yogurt market in 2023. The regions covered in the flavored yogurt market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the flavored yogurt market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Among the primary distinctions in flavored yogurt types are organic and conventional variations. Organic yogurt, often known as Greek yogurt, undergoes a straining process to remove whey, resulting in a thicker consistency compared to regular yogurt. Recognized for its higher protein content, organic yogurt is typically priced higher than its conventional counterpart. It's available in both spoonable and drinkable forms, offering flavors like strawberry, blueberry, vanilla, peach, and more. These products are distributed through supermarkets, convenience stores, online platforms, and other outlets, catering to the food and beverage industry, HoReCa (hotel, restaurant, cafe), as well as household retail.

This report provides flavored yogurt market statistics, including flavored yogurt industry global market size, regional shares, competitors with a flavored yogurt market share, detailed flavored yogurt market segments, market trends and opportunities, and any further data you may need to thrive in the flavored yogurt industry. This flavored yogurt market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The flavored yogurt market consists of sales of naturally flavored yogurt, custard-style yogurt, blends of kiwi, watermelon, mint-flavored yogurt. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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