NEWARK, Del, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The Greek Yogurt Market is predicted to develop at an impressive 7.1% CAGR from 2023 to 2033, exceeding the lower 6.6% CAGR witnessed between 2018 and 2022. This significant rise shows the demand for the Greek yogurt market, increasing the market value from US$ 7,851.8 million in 2023 to US$ 14,991.9 million by 2033.
The need for fat-free and weight-loss goods and a shift towards wholesome, nutrient-rich foods are driving factors in the global Greek yogurt market.
Greek yogurt's versatility as an ingredient, the growing popularity of natural and organic options, and consumer demand for goods with clean labels all contribute to the market's expansion.
Consumer preferences for various flavors and technological improvements in the dairy industry fuel Greek yogurt sales and global expansion.
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Key Takeaways are:
- Greek yogurt consumption in India is anticipated to rise rapidly at a CAGR of 6.9% by 2033, driven by rising disposable incomes, greater health consciousness, and a rising desire for wholesome dairy products high in protein.
- Greek yogurt consumption in the United Kingdom is anticipated to increase at a CAGR of 5.5% by 2033, driven by a rise in the need for quick and easy snacks, the acceptance of Mediterranean food, and a preference for better diets.
- The market for Greek yogurt in China is predicted to experience rapid expansion with a CAGR of 11.8% by 2033, propelled by the rising middle class' taste for high-protein dairy products, urbanization, and the growing health and wellness trend.
- As customers look for healthier alternatives to conventional dairy products and embrace Greek yogurt's creamy texture, probiotic advantages, and adaptability in various culinary applications, the market for Greek yogurt in Australia is anticipated to develop at a CAGR of 2% by 2033.
- The Greek yogurt market in Japan is anticipated to expand steadily at a CAGR of 4.3% by 2033, driven by rising consumer awareness of the health advantages of Greek yogurts, such as satiety and digestive health, as well as the popularity of Greek-inspired cuisine and global food trends.
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Competitive Landscape:
In the Greek yogurt industry, partnerships and collaborations are frequent. Developing partnerships with dairy farmers, suppliers, and distribution networks guarantee a steady supply of premium ingredients and effective marketing routes. Collaborations with retailers, wellness influencers, and celebrity endorsements increase the brand's visibility and market reach.
The Key 5 Companies Profiled in this market are:
- Chobani LLC
- Stonyfield Farm, Inc.
- FAGE International S.A.
- GROUPE DANONE
- General Mills, Inc.
These businesses have developed great brand recognition and provide a wide selection of Greek yogurt products to satisfy a variety of consumer tastes.
Recent developments in the industry:
- Chobani has taken an active role in product innovation, launching new flavors, formulas, and product variations to meet changing consumer tastes. Greek yogurts that are low-fat, non-fat, and made from plants are now part of their extended product lineup, giving customers various dietary needs and preferences.
- To be more ecologically friendly, Chobani declared in August 2021 that paper cups may replace the plastic wrapping on its single-serve oat blend yogurts.
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Market Segmentation:
By Package Type:
- Cups & Tubs
- Bottles
By Nature:
- Conventional Greek Yogurt
- Organic Greek Yogurt
By Flavor:
- Plain
- Strawberry
- Blueberry
- Vanilla
- Others
By Distribution Channel:
- Supermarket/Hypermarket
- Convenience Stores
- Online Stores
- Others
By Product Type:
- Full-Fat Yogurt
- De-Fat Yogurt
- Fat-Free Yogurt
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
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Yogurt Market Size: The global yogurt market is projected to reach a valuation of US$ 79,147.2 million by 2033 from US$ 44,808.5 million in 2023. It is set to expand rapidly at a CAGR of 5.9% in the estimated time frame between 2023 and 2033.
Vegan Yogurt Market Share: The vegan yogurt market is set to thrive at an average CAGR of 5.8% during the forecast period. The market holds a share of US$ 6.7 billion in 2023 while it is anticipated to cross a value of US$ 11.7 billion by 2033.
Probiotic Yogurt Market Analysis: The adoption of probiotics yogurt is expected to increase at a CAGR of 8.00% during the forecast period. The probiotics yogurt market size is anticipated to rise from US$ 26,543 million in 2023 to US$ 58,092.8 million in 2033.
Citrus Yogurt Market Growth: The global citrus yogurt market garnered a market value of US$ 2,202 million in 2023 and is expected to accumulate a market value of US$ 3,403.0 million by registering a CAGR of 4% in the forecast period 2023 to 2033.
Frozen Yogurt Market Trends: The global frozen yogurt market is expected to reach a market valuation of US$ 2.1 Billion by the year 2022, accelerating with a CAGR of 3.7% by 2022 to 2032.
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