Global greek yogurt market is expected to grow at a CAGR of over 7% during the forecast period. Greek yogurt is prepared by removing excess liquid whey and lactose from the regular yogurt. As this Greek yogurt is rich in vitamins, minerals and calcium, its demand has registered significant growth among health-conscious population in the past few years. Due to surging cases of obesity, majority of population prefer fat-free food and presence of products such as low-fat greek yogurt, are contributing to the increasing demand of the product. This has attributed to higher protein and lower carbohydrates. Greek yogurt is much healthier than traditional yogurt due to its more protein value and low sugar level and can be used as a substitute for sour cream, cream cheese and butter. Furthermore, it is used for making sauces such as beef/lamb sauces and offers variety of flavors, which is positively influencing growth of the market.
Global greek yogurt market is segmented based on flavor, category, distribution channel and region. Based on flavor, market can be segregated into unflavored, vanilla, strawberry, blueberry, raspberry, blends, others. Unflavored segment accounted for the significant share in 2021 and the segment is expected to witness high growth in the next five years as well. This is primarily due to the increasing demand for this segment from the consumer end.
Based on distribution channel, supermarket/hypermarket is expected to hold the dominant share during the forecast period as people generally prefer to purchase yogurt from supermarket/hypermarket due to presence of vivid variety of flavors and brands.
Regionally, Europe led the market in 2021 and the trend is likely to continue until 2027. The preference of majority of the population for healthy living and increased inclination of people towards low-fat foods and greek yogurt is contributing to the dominant share of the region. On the other hand, Asia Pacific is expected to grow at the highest CAGR during forecast period which is due to increase in cases of obesity and changing lifestyle choices. Majority of the population prefers low-fat and protein rich food in the region, which is further complementing the growth of the regional market.
Major players operating in the global greek yogurt market include Chobani LLC, Danone S.A., Nestle S.A., Stonyfield Farm Inc., FAGE USA Dairy Industry Inc., General Mills, Inc., Byrne Hallow Farm, Inc., Jalna Dairy Foods Pty. Ltd.,Erhmann AG, and Sun Valley Dairy Co., among others.
Objective of the Study
- To analyze and estimate the market size of global greek yogurt market from 2017 to 2020.
- To estimate and forecast the market size of global greek yogurt market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global greek yogurt market based on flavor, category, distribution channel, company and regional distribution.
- To identify dominant region or segment in the global greek yogurt market.
- To identify drivers and challenges for global greek yogurt market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global greek yogurt market.
- To identify and analyze the profile of leading players operating in global greek yogurt market.
- To identify key sustainable strategies adopted by market players in global greek yogurt market.
Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the manufacturers which could not be identified due to the limitations of secondary research. Market insights research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
Market insights research calculated the market size of
Key Target Audience
- Greek yogurt manufacturers, suppliers and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to greek yogurt
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
