Yogurts Market (Product -Traditional, Australian, Icelandic, Greek, Non-dairy, and Kids; Packaged Containers - Cups, Pouch, Tubs, and Bottles) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
Yogurt Market: Snapshot
Rising trend among major global population to follow healthy lifestyle is driving the growth of yogurt market. Growing inclination toward consumption of dairy products is helping to boost the demand for yogurt. Vendors active in yogurt market are using diverse strategies such as launch of innovative products. Incorporation of new and palatable flavors is one of the trending strategies helping companies to attract kids toward yogurt consumption. Thus, these moves are stimulating the growth of the yogurt market.
Many players offer yogurt in different sizes and shapes. Availability of these products in different attractive packaging is one of important factor drawing attention of huge customer base. These initiatives are helping vendors in the global yogurt market to attract new customer base while maintaining the existing one. As a result, the demand for yogurt is stimulated significantly.
Yogurt is one of the important dairy products that have achieved key position in the diet of a wide range of health-conscious population owing to probiotics content in it. Probiotics are known to be helpful in maintaining good gut health of an individual. Thus, this factor is pushing the growth of yogurt market.
Many companies in yogurt market are pouring investments in research activities. The main motive of these efforts is to enhance the nutritional value of yogurt products. Several vendors add nutritional supplements to their products. A case in point here is product by Chobani LLC. The latest product by the firm is a combination of Greek yogurt and nut butters. The latest strategy will help the firm to offer a tasty and protein-packed snack. Besides, this product is expected to gain traction of health enthusiasts owing to less sugar constraints than other yogurts. This move by Chobani is pegged to drive the demand for products available in the global yogurt market.
North America Yogurts Market: Overview
The high extent of awareness to consume dairy products for their health benefits is primarily driving the North America yogurts market. Yogurt is an important part of the diet of individuals due to probiotics content that helps in good gut health.
In North America, the availability of a few types of yogurt, which includes Greek, Icelandic, Australian, and non-dairy provides consumers a variety of choices. Not only this, yogurt is available in several flavors that adds further choice to the selection. Yogurt available in different sizes and different packaging also makes it a food of choice among consumers. These factors are collectively bolstering the North America yogurt market.
In the region, yogurt is a favored snack among children both for taste and flavor. Kids’ yogurts are generally available in attractive packaging that tempts kids to consume the food.
Lastly, the availability of fortified yogurt is boosting the consumption of yogurts. Dairy companies are introducing yogurts with nutritional supplements that further add to its nutrient quotient. Thus, the yogurt market in the region receives a boost.
According to a report by Transparency Market Research (TMR), the North America yogurt market is likely to display a tepid 3.0% CAGR between 2016 and 2014, to be worth US$14.59 bn by 2024 vis-à-vis revenue. The market stood at a valuation of US$11.18 bn in 2015.
Difference in Taste of Regional Variants makes Traditional Yogurt favored
By product type, the North America yogurt market is segmented into Australian, Greek, kids’, Icelandic, non-dairy, and traditional. Traditional yogurt, among all, displays the leading demand. The indigenous flavor of traditional yogurt from the region it hails from also adds to its popularity. Kids’ yogurt also account for substantial share in the North America yogurt market. Yogurt is a favored snack that health-savvy parents tend to give to their children.
However, Greek yogurt is likely to surpass demand of other yogurt types over the forecast period. Vis-à-vis revenue, Greek and traditional yogurt held more than 75% of North America yogurt market in 2015.
Both Ease of Use and Cost makes Cups favored among Consumers
By packaging type, the key segments of the North America yogurt market are tubs, pouch, jars, and cups. In 2015, cups held the leading nearly 70% of the market in 2015. Cups allow ease of consuming the content and are available in attractive designs that grabs consumer attention. Furthermore, low cost of packaging of cups also makes them favored among manufacturers in their interest to minimize overall packaging cost. This, indirectly is favorable for consumers especially frugal consumers, who are not willing to spend extra money for packaging for the same content in alternate packaging. This provides a boost to cups product type segment in the North America yogurt market.
Key companies operating in the North America yogurt market include Dannon Inc., Chobani LLC, Noosa Yogurt LLC, Stonyfield Farm, AtlantaFresh, Fage International S.A., Yoplait USA INC, The Icelandic Milk and Skyr Corporation, Annie’s Homegrown, and Berkely Farms.
North America Yogurt Market: Overview
Yogurt is a diary product. Yogurt is produced by fermentation of milk by bacterial treatment. The bacteria in the presence of lactose in milk, produces lactic acid. The lactic acid produced by the bacterial treatment reacts with milk protein to impart the texture and taste of yogurts. Yogurt is generally produced from cows’ milk as it is readily available all across the world. Non-dairy yogurts are also gaining popularity among consumers. Non-dairy yogurts are prepared from non-dairy sources such as plant oils. Soy oil and coconut oil are the major sources of non-dairy yogurts. However, dairy based yogurts are by far the largest category of yogurts. Yogurts have steady demand amongst consumers from the advent of the dairy industry. In the last couple of decades the yogurt market has experienced multifold growth owing to product diversification and improved packaging leading to increased shelf life.
North America Yogurt Market: Segmentation
Traditional yogurt and Greek yogurts are by far the major product types in the North American yogurt market. Traditional and Greek yogurt together accounted for almost 75% of the total yogurt market demand, by revenue, in 2015. Since the last decade, the rising demand of Greek yogurt has been a driving force for the growth of the demand for yogurt in North America. Greek yogurt accounted for only 1-2% of the market share in the U.S. yogurt market in 2004. Owing to the high degree of penetration in the U.S. market, Greek yogurts accounted for almost 40% of the yogurts market in the U.S. in 2015.
Yogurt products are sold in several major packaging containers, namely: cups, pouch, tubs and jars. Out of all these packaged containers, cups hold the largest market share in 2015 accounting for almost 70% of the North American yogurt market. Cups and pouch are the easy to use and easy to dispose packaged containers. Packaging plays a crucial role in the success of a desert items such as yogurt. Hence companies are investing considerable amount on the development and diversification of packaging materials to reduce cost, increase product attractiveness among consumer and also to increase the shelf life of the packaged products.
North America Yogurt Market: Regional Outlook
By geography, the North America yogurt market is segmented into U.S. and Rest of North America. Per person per year yogurt consumption in Canada is substantially higher with respect to the U.S. However, the higher population and presence of major players in the U.S. is driving the U.S. yogurts market. Per person per year yogurt consumption in U.S. was 7.7 in 2015. Whereas, per person per year yogurt consumption of yogurt was recorded at 11 kg in 2015. Low per person per year consumption of yogurt is expected to be a major restrain for the growth of the North America yogurt market demand.
North America Yogurt Market: Scope
For better understanding of the market dynamics, the report also highlights on the company market share of major players in 2015 versus the market share in 2016. In addition, the report also provides detailed analysis on per person per year in major countries across the world. Market attractiveness analysis of yogurts market by the product types has also been incorporated in the study, in addition to the drivers, restraints and opportunity in the North America yogurts market.
Key Players Mentioned in the Report are:
The report provides company market share analysis of the various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies and recent developments. Major market participants profiled in this report are Dannon Inc. (U.S.), Fage International S.A (Luxembourg), Chobani, LLC (U.S.), Yoplait USA, INC (U.S.), Noosa Yogurt LLC (U.S.), The Icelandic Milk and Skyr Corporation (U.S.), Stonyfield Farm (U.S.), Annie's Homegrown (U.S.), AtlantaFresh (U.S.) and Berkeley Farms (U.S.) among others.
North America yogurt market can be segmented as follows;-
- North America Yogurt Market, by Product Type
- Traditional Yogurt
- Australian Yogurt
- Icelandic Yogurt
- Greek Yogurt
- Non-Dairy Yogurt
- Kids Yogurt
- Other Yogurts
- North America Yogurt Market, by Packaged Containers
- North America Yogurt Market, by Geography
- North America
- Rest of North America