Greek Yogurt Market to be Worth $46.5 Billion by 2028 - Grand View Research, Inc.

SAN FRANCISCO, Aug. 24, 2022 /PRNewswire/ -- The global greek yogurt market size is expected to reach USD 46.5 billion by 2028, expanding at a CAGR of 7.0% from 2021 to 2028, based on a new report by Grand View Research, Inc. A shift in dietary consumption coupled with the growing adoption of probiotic-rich foods has been propelling the demand for Greek yogurt. Moreover, the rising popularity of Greek yogurt as a healthy snacking option is one of the major drivers fueling the market growth. Key players such as Danone and Chobani are introducing Greek yogurt in premium flavors by combining fruit and yogurt, thereby gaining attention from health-conscious consumers.

Key Industry Insights & Findings from the report:

• Based on flavor, the strawberry segment held the largest revenue share in 2020 owing to the popularity of the strawberry-flavored yogurt.
• In 2019, Chobani launched Greek yogurts combined with different kinds of nut butter which provide more protein and fewer sugar options. The different flavors include vanilla, plain, and honey with almond nut butter and vanilla with cashew butter.
• In 2020, Europe held the largest market share owing to a rise in disposable income, high demand for probiotics, and growing demand for organic milk in the region.
• Asia Pacific is anticipated to witness the fastest growth during the forecast period from 2021 to 2028. In 2018, The Yogurt Shop from Australia introduced several kinds of fruit-flavored Greek yogurt products in the country to gain traction in the Chinese market. The company is expecting to triple its sales by 2022.
• The market is characterized by the presence of several players such as Muller UK & Ireland Group, Chobani, and Fage International S.A

Read 115-page full market research report, 'Greek Yogurt Market Size, Share & Trends Analysis Report By Flavor (Strawberry, Vanilla, Blueberry, Peach), By Distribution Channel (Supermarkets, Convenience Stores, Online), By Region, And Segment Forecasts, 2021 - 2028,' published by Grand View Research.

Greek Yogurt Market Growth & Trends

The high number of COVID-19 cases and lockdowns across the world contributed to the rise in the retail sale of yogurt and other dairy products as several consumers stockpiled dairy products such as yogurt and cheese. Moreover, the decreased access to hotels and restaurants during the pandemic increased the demand for healthy, ready-to-eat snacks, thereby proliferating the demand for Greek yogurt. As per Lecico GmBH, due to the shifting consumer preferences, customers are more likely to read product labels to confirm if they meet the nutrition standards.

Also, several innovations with the use of technology are providing cost-saving opportunities for the dairy industry. Companies that have adopted newer technologies have an improved decision-making process by receiving present data directly from the dairy processing plants. In 2021, Danone North America launched multi-serve yogurt tubs to cater to consumer demand. According to Activia, close to 30% of consumers stated that they tried more functional foods and beverages due to the pandemic.

Greek Yogurt Market Segmentation

Grand View Research has segmented the global greek yogurt market based on flavor, distribution channel, and region:

Greek Yogurt Market - Flavor Outlook (Revenue, USD Million, 2016 - 2028)

• Strawberry
• Vanilla
• Blueberry
• Peach
• Others

Greek Yogurt Market - Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)

• Supermarkets
• Convenience Stores
• Online
• Others

Greek Yogurt Market - Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
• U.S.
• Rest of North America
• Europe
• Germany
• U.K.
• France
• Spain
• Denmark
• Russia
• Rest of Europe
• Asia Pacific
• Japan
• China
• India
• Rest of Asia Pacific
• Central & South America
• Brazil
• Argentina
• Rest of Central & South America
• Middle East & Africa
• South Africa
• Rest of Middle East & Africa

List of Key Players in the Greek Yogurt Market

• Chobani Holdings LLC
• Danone
• Fage International S.A
• Nestle S.A
• General Mills, Inc.
• Parmalat S.p.A
• Muller UK & Ireland Group
• The Kroger Co.
• Wallaby Yogurt Company
• The Hain Celestial Group
• Stonyfield

Check out more related studies published by Grand View Research:

• Yogurt Drink Market - The global yogurt drink market is anticipated to reach USD 86.08 billion by 2030, registering a CAGR of 6.4% during the forecast period, according to a new report by Grand View Research, Inc. The growth of this market can be attributed to the rising incidence of lifestyle disorders and gut health concerns among millennials and the working population.
• Vegan Yogurt Market - The global vegan yogurt market size is expected to reach USD 6.5 billion by 2027, expanding at a CAGR of 18.9%, according to a new report by Grand View Research, Inc. Rising importance of plant-based food in developed economies of North America and Europe as a result of growing popularity of vegan nutrition products among health conscious consumers is expected to be a key driving force.
• Flavored Yogurt Market - The global flavored yogurt market size is expected to reach USD 59.2 billion by 2027, expanding at a CAGR of 6.9% in the forecast period, according to a new report by Grand View Research, Inc. The market is driven by the changing dietary habits and increasing health awareness among consumers.

Browse through Grand View Research's Consumer F&B Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.