New York, US, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Greek Yogurt Market Information by Flavor, Category, Distribution channel, and Region- Forecast till 2030”, the market is estimated to acquire a size of over USD 13.14 billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 7.56% during the review timeframe.
Market Scope:
Greek yogurt is created by straining some of the liquid whey and lactose from normal yogurt. Greek yogurt has a high protein and calcium content, which promotes muscle growth by preventing muscle mass loss. Additionally, because it contains active probiotics, it aids in improving intestinal health. Additionally, it serves as a preservative to lengthen the items' shelf lives. The term "fermented dairy products" refers to it. It not only improves the flavor but also gives the sauces and dips the necessary consistency and texture.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 13.14 Billion |
| CAGR | 7.56% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Flavor, Category, Distribution channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The Increasing Trend Of Adopting A Healthy And Fit Lifestyle |
| Healthy Diet |
Competitive Dynamics:
The major key players employ a variety of strategies to maintain their market share in the Greek yogurt market in the global market, including mergers and acquisitions, collaboration, setting up new joint ventures, forming partnerships, developing new production processes, creating new product lines, innovating with existing products, and many others to increase their customer base in the untapped Greek yogurt market worldwide. The most prominent major key players in the Greek yogurt market all across the globe are:
- Sun Valley Dairy (US)
- Erhmann AG (Germany)
- Jalna Dairy Foods Pty Ltd. (Australia)
- Byrne Hallow Farm (US)
- General Mills, Inc. (US)
- FAGE USA Dairy Industry Inc. (US)
- Stonyfield Farm, Inc. (US)
- Nestle S.A. (Switzerland)
- Danone S.A. (France)
- Chobani LLC (US)
Market USP:
Market Drivers
The demand for Greek yogurt is influenced by a number of factors on the international market. The global demand for Greek yogurt is driven by the rising trend of living a healthy, active lifestyle as more and more people become health conscious. Increasing desire for a healthy diet for weight loss demands Greek yogurt, raising the market demand. Additionally, the availability of flavors is a further advantage that fuels demand on the international market.
the increase in Greek yogurt demand worldwide. Since products made through the fermentation process are low-fat and non-fat and may be utilized to aid in weight loss, they present a number of expansion prospects in the global market over the course of the anticipated time. Greek yogurt can be consumed by those who are lactose intolerant since the fermentation process used to make it turns the lactose present in the yogurt into lactic acid. This offers the worldwide market significant potential opportunities.
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Market Restraints
Even if the Greek yogurt business is expanding at an increasing rate, some issues are preventing it from expanding on the international scene. The primary issue facing the producers that restrains the expansion of the global market is the appropriate culture needed for the fermentation process of dairy products. Additionally, not everyone is motivated to make items last longer, which limits market expansion. Additionally, the worldwide market growth is constrained by growing governmental regulations on the fermentation process in different emerging nations.
COVID-19 Analysis:
A sizable portion of society has been impacted by the worldwide COVID 19 pandemic. Due to the global pandemic, the majority of individuals have lost their means of support. It has impacted various sectors' dynamics and growth. Due to the vaccine scarcity, everyone is worried about their immunity and practices social seclusion. However, the fact that the majority of production facilities throughout the world were locked down during the lockdown crisis has had an impact on sales. The network of the supply chain was also broken, which reduced the profit margin.
By correctly planning in accordance with the needs of the market, the Greek yogurt market is anticipated to recover from this global pandemic crisis by the end of the third quarter of the following year.
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Market Segmentation:
By Flavor
Greek yogurts made with berries are becoming more popular, which may be the cause of the demand for strawberry-flavored yogurt. One of the most popular yogurt flavors in the world is strawberry.
By Category
The organic segment is expected to evolve at a notable CAGR owing to the growing health consciousness among consumers.
By Distribution Channel
The store-based segment is expected to retain its dominance over the review period.
Regional Analysis:
The North American area holds the biggest market share in the global market as a result of higher market demand for low-fat and organic yogurt in this region. Furthermore, because individuals in the US, Mexico, and Canada are more health-conscious, their presence also increases demand.
The European region, where individuals have a strong preference for a healthy lifestyle, currently holds the second-largest market share globally. Furthermore, the demand for Greek yogurt in this region is driven by strict regulations imposed on health and fitness by governments of several European nations.
The Asia-Pacific region, which experiences the greatest development in a number of industries, currently holds the third-largest market share worldwide. The market demand in this area is driven by rising personal disposable income and changing tendencies toward health and fitness. Additionally, this region is home to populous nations like China and India, which help to fuel market demand. Additionally, the expansion of the market in this region is aided by rising consumer awareness of the products and their accessibility.
During the anticipated timeframe, growth rates are also seen in the Latin American, Middle Eastern, and African regions. Despite this, the infrastructure is lacking. But by incorporating Greek yogurt into their diets, people are altering their lifestyle to lead healthier lives. During the predicted time, it is also anticipated that these regions will have positive growth.
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