Greek Yogurt Market Expected to Reach US$ 12.3 Billion by 2024
Posted: Jun 24, 2019
According to the latest report by IMARC Group titled, "Greek Yogurt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the market reached a value of US$ 7.4 Billion in 2018. Looking forward, the market is expected to reach a value of US$ 12.3 Billion by 2024, exhibiting a CAGR of around 9% during 2019-2024.
Greek yogurt is made by the fermentation of milk with bacterial cultures. The curdled milk is then slowly strained through a fine mesh cloth to drain out excess liquid and lactose. It is known for its smooth, creamy yet thick and dense texture and distinctive sourness. It is a rich source of calcium, protein, potassium, iodine, vitamin B, and probiotics and contains a low amount of sodium and carbohydrates. As a result, it helps to improve bone and mental health as well as to minimize hunger. It also enhances metabolism and lowers the chances of developing type 2 diabetes.
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The industry growth is primarily being driven by the increasing health-consciousness worldwide. Consumers nowadays are shifting towards healthy food alternatives, on account of the growing prevalence of lifestyle diseases. Apart from this, Greek yogurt has emerged as a healthy, low calorie, gluten, and fat-free flavorful substitute dessert, owing to the rising awareness about the health benefits offered by it. Moreover, as the preparation process of the product involves draining out the excess lactose, it has become popular among lactose intolerant individuals.
Breakup by Product Type:
- Regular Greek Yogurt
- Non-Fat Greek Yogurt
Breakup by Flavor:
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Specialty Stores
- Convenience Stores
- Independent Retailers
Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
The report has also examined the competitive landscape of global greek yogurt market. Some of the major players in the market are Chobani LLC, Stonyfield Farm, Inc, Fage International S.A., General Mills, Inc., Dannon, Alpina Foods, Auburn Dairy, Delta Food (Vivartia), EasiYo, Ehrmann, Emmi Group, Glenisk, Kalypso Farms Dairy, Kri Kri, Mevgal, Muller UK & Ireland, Olympus, etc..
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Competitive Structure
- Profiles of Key Players
Imarc Group is a leading market research and consulting company that offers management strategy and market research worldwide.