Greek Yogurt Market: A Creamy Revolution in Dairy Consumption

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, April 21, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research titled, “Greek Yogurt Market by Type, Flavor, Distribution Channel, and Source: 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 2020 to 2027. Europe dominated the market in 2019, accounting for 44.1% of the total market share. The Greek yogurt market exhibits an incremental revenue opportunity of $4.0 billion from 2019–2027.

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The Greek yogurt market holds a substantial scope for the market growth. The market is currently in its growth stage; however, its contribution to the global market is expected to increase significantly during the forecast period. Increase in demand of flavored yogurt has enforced the market to produce innovative products such as strawberry, blueberry, and vanilla flavors. Growth of the global population and rise in per capita income boost the market growth, thus increasing the production of dairy items. The change in taste and preference of consumers affected the sales in response to dietary concerns and the need for manufacturers to develop differentiated products. Numerous players are entering the Greek yogurt market with innovative food products, using milk as their base. Emerging innovative food items are expected to increase market competition in the years to come.

The growth in population in developing countries, such as China and India, has increased the demand for yogurt, butter, and cheese to fulfill their food requirements. This increase in population, coupled with per capita income, has increased the demand for dairy products, further increasing the production of milk. In emerging countries, per capita income is higher as compared to developed countries, and hence, the consumption of dairy products such as yogurt, butter, cheese, buttermilk, and flavored milk is eventually higher.

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 non-fat. The whole milk segment was valued at $2.6 billion and is expected to grow with a CAGR of 10.9 (2019–2027) to reach $3.9 billion by 2027. The nonfat segment is expected to be the fastest-growing segment, with a CAGR of 12.2% during the forecast period. The fastest growth of the nonfat segment is attributed to the increased demand for consumers for different types of dairy products made from organic and non-dairy milks.

By flavor, it is categorized into plain, strawberry, blueberry, vanilla, and others. By distribution channel, the market is divided into supermarkets, hypermarkets, convenience stores, online stores, and others. By source, it is bifurcated into organic and conventional. By region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, India, Japan, Australia, and the and the Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa.). Countries such as Australia, the U.S., and the UK, NORDIC countries, India, China, and ASEAN countries are the largest spenders on dairy products. In addition, factors such as product availability, socio-economic status, per capita expenditure, and consumer purchasing power are responsible for the growth of the Greek yogurt market in these regions.

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Key Findings Of The Study

The low-fat products segment is expected to grow at a CAGR of 11.1% during the forecast period.

Europe is anticipated to dominate Greek yogurt market growth, registering a CAGR of 10.5%.

Conventional Greek yogurt is projected to contribute the highest Greek yogurt market share during the forecast time period, with around 95% market share in 2027 and CAGR of 10.8%

The supermarket/hypermarket distribution segment is anticipated to dominate the global Greek yogurt market, with a CAGR of 11.3% during the forecast period.

The strawberry segment is estimated to grow at a CAGR of 10.8% during the forecast period.

The global market is fragmented by the presence of several market participants across various regions. The strong presence of private label brands offers tough competition to global players. The key players operating in the global Greek yogurt market 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.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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