Over the years, changing lifestyles of consumers and increased level
of globalization have brought massive changes in the diets of a
number of regions. North America, one of the leading destinations for
immigrants from across the globe, has also witnessed an effect of
this trend - the inclusion of yogurts in everyday diets of the people
residing in its countries is evidence. Estimated to have been
introduced in the United States in the first decade of the 20
Yogurts continue to form an important element of North American diets
and have assumed a key role in the rapidly changing lifestyles of
consumers. Forming a core ingredient of a number of highly popular
recipes in the region, yogurts are gaining an increased level of
popularity owing to their high nutritional contents. The yogurt
market in North America is expected to witness expansion at a
steady pace over the next few years, benefiting from the promising
pace of product diversification and vast improvements in packaging
methods.
Transparency Market Research estimates that the North America yogurt
market will exhibit a 3.0% CAGR over the period between 2016 and
2024, rising from a valuation of US$11.18 bn in 2015 to US$14.59 bn
by 2024.
In this blog post, Transparency Market Research analysts highlight
some of the key trends observed in the North America yogurt market of
late and their influence on market’s future growth prospects:
Q. What product varieties dominate in terms of consumption in
North America yogurt market?
A. Apart from the traditional yogurt variety, the North
America market mostly favors yogurt varieties such as Australian,
Greek, Icelandic, Kids, and Non-dairy. Of these, the Greek yogurt
variety tops in terms of preference and consumption in the region.
The segment accounted for over 40% of the overall North America
yogurt market in 2015 and is expected to remain the most favored
yogurt variety owing to its nutritional content, which included high
calcium, protein, and low levels of carbohydrates and fats. The vast
set of fitness-conscious consumers in the region will continue to
prefer this variety of yogurt in the next few years as well.
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Q. How intense is the level of competition in the market?
A. The vendor landscape of the North America yogurt market is
highly consolidated. The top five vendors in the market, namely
Private Label, Chobani, Fage, Yoplait, and Danone collectively
accounted for a massive 74.3% of the overall market in 2016. The
consolidated nature of the market makes it highly competitive and
tough for the entrance or establishment of new vendors.
Leading vendors command immense control on the market owing to their
brand value, vast product portfolios, and the continued efforts to
add more flavors to their yogurt portfolios.
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