What is the global market size of Greek Yogurt Market?

Global Greek Yogurt Market size was valued at USD 29.40 billion in 2021 and is poised to grow from USD 31.55 billion in 2022 to USD 55.43 billion by 2030, at a CAGR of 7.3% during the forecast period (2023-2030).

Global Greek Yogurt Market Size, Share, Growth Analysis, By Product Type(regular Greek yogurt, and flavored Greek yogurt), By Distribution channel(retail stores, online retail platforms), By End user(food and beverage, healthcare and dietary supplement) - Industry Forecast 2024-2031

Report ID: SQMIG30I2272 | Region: Global | Published Date: March, 2024
Pages: 198 | Tables: 89 | Figures: 76

Global Greek Yogurt Market News

In November 2022, TWO GOOD, a prominent player in the food and beverage industry, introduced a cultured, on-the-go dairy drink crafted from natural fruit puree, completely devoid of artificial sugars. The company offers three varieties of these new smoothies, including peach, strawberry-banana, and mixed berry.
In July 2022, CP-Meiji introduced an exciting addition to their product lineup with the launch of an innovative spoonable yogurt in Thailand. This orange-flavored yogurt is uniquely infused with nata de coco, providing a delightful combination of citrus flavor and a chewy coconut jelly texture. It offers consumers a refreshing and indulgent yogurt experience that is both delicious and satisfying. The new yogurt can be found in various retail locations, including 7-Eleven, offering convenient access to Thai consumers seeking a unique and enjoyable yogurt option.
In February 2022, Starbucks the renowned coffee giant in South Korea, introduced a novel yogurt beverage known as Pine Coco Green Yogurt Blended, marking its first use of vegan yogurt in a drink. The company intends to expand the presence of its plant-based offerings to approximately 1,500 locations across South Korea.

Global Greek Yogurt Market Report Snapshots

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Global Greek Yogurt Market size was valued at USD 31.55 Billion in 2022 and is poised to grow from USD 33.92 Billion in 2023 to USD 60.49 Billion by 2031, at a CAGR of 7.50% during the forecast period (2024-2031).

The global Greek yogurt market is highly competitive, with numerous players vying for market share and consumer loyalty. Key market players in this segment have established themselves as leaders in the Greek yogurt market through their strong brand presence, extensive distribution networks, and continuous product innovation. To stay competitive, market players are focusing on product differentiation and expanding their product portfolios to cater to evolving consumer preferences. They are introducing new flavors, incorporating natural and organic ingredients, and launching healthier variants with reduced fat and sugar content. Additionally, manufacturers are investing in marketing and advertising campaigns to create brand awareness and promote the benefits of Greek yogurts, such as its high protein content and probiotic properties. Strategic partnerships and collaborations are also common in the Greek yogurt market, with companies forming alliances to expand their geographic reach and tap into new consumer segments. Furthermore, mergers and acquisitions are prevalent as companies seek to enhance their market position and leverage synergies in manufacturing, distribution, and R&D capabilities. 'Chobani LLC (US)', 'FAGE International S.A. (Greece)', 'General Mills Inc. (US)', 'Danone S.A. (France)', 'Müller Group (Germany)', 'Nestlé S.A. (Switzerland)', 'Arla Foods amba (Denmark)', 'Yoplait (US)', 'Stonyfield Farm Inc. (US)', 'The Hain Celestial Group Inc. (US)', 'Glenisk Ltd. (Ireland)', 'Alpina Productos Alimenticios S.A. (Colombia)', 'The Greek Gods Yogurt (US)', 'Noosa Yoghurt LLC (US)', 'Liberté Inc. (Canada)', 'Fábrica de Licores y Alimentos de Antioquia (Colombia)', 'Yili Group (China)', 'Yakult Honsha Co. Ltd. (Japan)', 'Arla Foods Ltd. (UK)', 'The Collective Dairy (UK)'

One of the key restraints in the Greek yogurt market is price sensitivity among consumers. Greek yogurt is often priced at a premium compared to regular yogurt or other dairy products due to its specialized production process and higher protein content. This higher price point may deter price-sensitive consumers, particularly in price-sensitive markets or during economic downturns. Manufacturers need to balance pricing strategies to cater to a wider consumer base while maintaining profitability.

Flavor Innovation and Product Diversification: Flavor innovation and product diversification are key trends driving the Greek yogurt market. Manufacturers are constantly introducing new and exciting flavors to attract consumers and cater to their preferences. For example, brands are launching Greek yogurt variants with exotic fruit flavors, indulgent dessert-inspired flavors, or savory options like herbs and spices. This trend enhances the consumer experience, promotes product experimentation, and expands the consumer base.

The dominating region in the global Greek yogurt market in North America. North America has witnessed a phenomenal rise in the consumption of Greek yogurt over the years, establishing itself as the epicenter of this creamy delight. The region's love affair with Greek yogurt can be attributed to its numerous health benefits, rich and creamy texture, and versatile nature. North America's dominance in the Greek yogurt market is backed by robust consumer demand, an extensive distribution network, and a highly developed food industry infrastructure. The region boasts a large population of health-conscious individuals who appreciate Greek yogurt's high protein content, low sugar content, and probiotic properties.

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Global Greek Yogurt Market Size, Share, Growth Analysis, By Product Type(regular Greek yogurt, and flavored Greek yogurt), By Distribution channel(retail stores, online retail platforms), By End user(food and beverage, healthcare and dietary supplement) - Industry Forecast 2024-2031

Global Greek Yogurt Market News

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