Portland, OR, July 20, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Greek yogurt market was pegged at $7.2 billion in 2019, and is projected to reach $11.2 billion, growing at a CAGR of 10.9% from 2020 to 2027.
Increase in application of Green yogurt as functional food, surge in health consciousness among consumers, and growth in preference for clean-label have boosted the growth of the global Greek yogurt market. However, availability of dairy substitute products including plant-based food hampers the market growth. On the contrary, increase in demand for organic dairy products is expected to create new opportunities for market players in the future.
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Covid-19 Scenario-
- Due to the restriction imposed by governments in various countries, the availability, supply, and production of essential products have not affected.
- However, the international sale of the Greek yogurt has severely affected due to ban on international import and export of dairy products during the global lockdown.
The global Greek yogurt market is segmented on the basis of type, flavor, distribution channel, and geography. Based on type, the market is divided into whole milk, low fat, and nonfat. The low-fat segment held the largest share in 2019, accounting for one-third of the market. However, the non-fat segment is expected to register the highest CAGR of 12.2% during the forecast period.
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On the basis of flavor, the market is categorized into plain, strawberry, blueberry, vanilla, and others. Based on distribution channel, the market is classified into supermarket/hypermarket, convenience stores, online stores, and others. The online stores segment is expected to manifest the highest CAGR of 12.3% during the forecast period. However, the distribution channel, the supermarket/hypermarket segment held the lion’s share in 2019, accounting for two-fifths of the market.
The market across Asia-Pacific is expected to portray the highest CAGR of 12.7% during the study period. However, the global Greek yogurt marketacross Europe held the largest share in 2019, accounting for three-fifths of the market.
The global Greek yogurt market report includes an in-depth analysis of the major market players such as Chobani Global Holdings, Inc., General Mills Inc.(Yoplait), FAGE International S.A, Stonyfield Farm (lactalis), Danone S.A., Unternehmensgruppe Theo Müller, Nestlé S.A., The Kroger Co., The Hain Celestial Group (The Greek Gods), and Wallaby Organic.
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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.
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