Yogurt Market in North America to Reach US$14.59 bn by 2024 as Consumers Focus on Changing Lifestyles

Transparency Market Research points out that key players in the North America yogurts market are focusing on introducing new flavors to cater to a wide range of customers. Some of the leading players in the market are Danone, Chobani, Yoplait, Private Label, and Fage, who collectively held a share of 74.3% in market in 2016. The nature of competition in the North America yogurt market is expected to remain consolidated in the coming years as it will be rather difficult for new entrants to overpower the dominance of these players. Focus on delivering myriad flavors and investing in attracting packaging solutions are expected to key strategies of these players. Collaborations with dairy owners to reduce the cost of operations and for making lucrative geographical expansions will also be seen as emerging trend in the overall market.

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U.S. to Remain Dominant Consumer of Yogurt throughout Forecast Period

The research report states that the North America yogurt market will be worth US$14.59 bn by 2024 from US$11.18 bn in 2015. Between the forecast years of 2016 and 2024 the yogurt market in North America is projected to surge at a CAGR of 3.0%. From a regional point of view, the U.S. yogurt market is expected to show consistent dominance between 2016 and 2024 as it promises to register a CAGR of 3.7%. Out of all the products, the traditional yogurt is expected to lion’s share due to a strong preference for the same. By the end of 2024, traditional yogurt is expected to acquire a share of 38.2% in the North America yogurt market.

Greek Yogurt Offers Significant Impetus as Consumers Realize its Health Benefits

Introduction of a wide range of flavors has been identified as the key growth driver of the North America yogurt market. In addition to catering to the changing tastes of the growing clientele, the yogurt market in North America has also been flourishing with the introduction of Greek yogurt. Out of the entire demand, Greek yogurt holds about 40% of it. Analysts at Transparency Market Research state that low range of fats and carbohydrates in Greek yogurt has been the very reason for its soaring popularity. Additionally, Greek yogurt is known to be rich in protein and calcium, which has garnered the attention of several fitness enthusiasts over the years.

Changing lifestyles, focus on better dietary habits, innovative packaging solutions, and rising disposable incomes have also been identified as key contributors to the increasing revenue of the North America yogurt market. Product diversification and changing perception of yogurt as an important part of the meal are also projected to benefit the overall market. The report also sheds light on expansion of dairies and their role in widening yogurt market in North America. It states that adoption of innovative technologies in dairies to increase production have tremendously benefited the overall market.

On the flip side, the demand for Greek yogurt is expected to mature in the coming years thus impacting sales. However, players can tackle this hurdle with yogurt drinks, which could be the next raging trend in the North America yogurt market, predict market experts.

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North America Yogurt Market Expected to be Worth US$14.59 bn by 2024

North America Yogurt Market: Snapshot

Yogurt is an important part of diet and has assumed an integral role in changing lifestyles of several consumers. A dairy product made by fermentation of milk using a bacterial treatment, yogurt is gaining remarkable popularity due to its nutritional value. The report anticipates that yogurt will continue to have a steady demand over the next few years as the dairy industry grows at a remarkable pace. Analysts project that the North America yogurt market will benefit with product diversification and improved packaging methods that have enhanced the shelf life of the product. According to the research report, the North America yogurt market stood at US$11.18 bn in 2015 and is poised to be worth US$14.59 bn by 2024. During the forecast period of 2016 and 2024, the overall market is projected to surge at a CAGR of 3.0%

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Introduction of Various Flavors and Types Ensures Continued Market Growth

On the basis of products, the North America yogurt market is segmented into Australian yogurt, Icelandic yogurt, Greek yogurt, non-dairy yogurt, kids’ yogurt, and traditional yogurt amongst others. The introduction of a wide range of yogurts besides the traditional yogurt has augmented the demand in the recent years. Unlike the traditional yogurt, the others are strained, which makes them thicker and denser and loaded with protein. Thus, several health-conscious consumers are opting for this type of yogurt due to its nutritional benefits. The indigenous flavoring of yogurts pertaining to the regions their hail from is also giving the overall market a massive impetus. Furthermore, since kids’ yogurt is made from organic sources with additional flavors, it has garnered special interest amongst parents who are on a constant lookout for healthy, organic food items.

The report projects that the Greek and traditional yogurt will dominate the North America market throughout the forecast period. Collectively, these products accounted for a whopping share of 75% in the overall market in terms of revenue in 2015. High demand for Greek yogurt across the U.S. and its relentless penetration across the country helped the product segment accrue a share of about 40% in in the U.S. yogurt market in 2015.

Cups and Pouches Emerge as Winning Packaging Segments in Global Market

On the basis of packaging, the North America yogurt market is divided into tubs, jars, pouch, and cups. In 2015, cups held a significant share in the overall market accounting for nearly 70% of it. The convenience of using and disposing of pouches and cups has garnered to two packaging types incredible popularity in recent times. These packaging segments are also expected to benefit from attractive designs being made in cups and pouches for seeking consumer attention.

The low cost of packing of cups is also expected to boost the demand for cups to package various types of yogurts during the forecast period. Analysts anticipate that pouch segment will exhibit a rapid growth rate in the coming years as well. On the other hand, demand for bottles and tubs is anticipated to lose a sizeable market share to the growing uptake of cups and pouch packaging segments in the coming few years.

The key players operating in the North America yogurt market are Dannon Inc., Fage International S.A., Chobani, LLC, Yoplait USA, INC, Noosa Yogurt LLC, The Icelandic Milk and Skyr Corporation, Stonyfield Farm, Annie's Homegrown, AtlantaFresh, and Berkeley Farms.

North America Yogurt Market: Maturing Demand for Yogurts to Challenge Overall Market

Transparency Market Research observes that the leading players in the North America Yogurt Market held a share of 74.3% in market in 2016. This mammoth share indicates that the market is highly consolidated with the presence of few strong players. Chobani, Danone, Private Label, Yoplait, and Fage are the top five players. Their dominance can be credited to a diverse and a comprehensive range of products. The persistent efforts to add more number of flavors and deliver them through innovative packaging and marketing methods is estimated to be the primary focus on these companies in the coming years. Additionally, these companies are also likely to collaborate with dairy owners in emerging markets for strategic reasons. Geographical expansion is estimated to fare well with the North America yogurt market in the near future.

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According to the research report, the opportunity in the North America yogurt market is expected to be worth US$14.59 bn by 2024 as compared to US$11.18 bn in 2015. During the forecast years of 2016 and 2024, the overall market is expected to surge at a CAGR of 3.0%.

U.S. to Dominate North America Yogurt Market with 3.7% CAGR 2016–2024

The demand for traditional yogurt is projected to exhibit continued growth during the forecast period. By the end of 2024, the traditional yogurt segment is estimated to hold a share of 38.2% in the North America yogurt market. Greek yogurt will follow this lead quite closely. In terms of regions, the U.S. is likely to dominate the market as the country is projected to surge at a CAGR of 3.7% between 2016 and 2024.

Greek Yogurt Continues to Show Promise of Growth through Forecast Period as Preference Remains Steady

The yogurt market across North America received a massive impetus after the introduction of Greek yogurt. The revolution since then has garnered a significant clientele, which has continuously shaped the trajectory of the overall market. The demand for Greek yogurt, which holds about 40% share in the total market, is expected to be on the rise as it contains few carbohydrates and fats. This type of yogurt is known to be rich in proteins and calcium, which has been its key growth drivers amongst the fitness-conscious consumers. Today, the North America yogurt market is on the cusp of a revolution has several manufacturers in the market are introducing a variety of flavors to favor myriad palates.

The relentless growth of the dairy industry in the U.S. has also been fueling the North America yogurt market. “The large-scale operations of dairy industry, adoption of innovative technologies, and continuous efforts to bring in product diversification has changed perceptions about yogurt, putting it on pedestal amongst consumers seeking healthy food options,” states the lead author of this research report. The market has also benefitted with increasing investments from several big and small players, who have ardently diversified the product through methods of making and packaging. The changing lifestyles, improving disposable incomes, and growing awareness about living healthy lifestyles are all expected to make a significant difference to the soaring revenue of the North America Yogurt market in the near future.

Maturing Demand for Yogurts to Challenge Overall Market

Analysts suspect that the demand for Greek yogurt is likely to mature, which is likely to impact the sales in the forecast period. Owing to this reason, manufacturers will shift their focus to other types of yogurt, which might hamper the sales even more. Though the yogurt market is likely to mature, the potential for yogurt drinks is estimated to be relatively. These come in a wide range of flavors and are gaining popularity amongst consumers. 

Yogurt Market Forecast By End-use Industry 2016-2024

The report projects that the Greek and traditional yogurt will dominate the North America market throughout the forecast period. Collectively, these products accounted for a whopping share of 75% in the overall market in terms of revenue in 2015. High demand for Greek yogurt across the U.S. and its relentless penetration across the country helped the product segment accrue a share of about 40% in in the U.S. yogurt market in 2015.

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According to the research report, the opportunity in the North America yogurt market is expected to be worth US$14.59 bn by 2024 as compared to US$11.18 bn in 2015. During the forecast years of 2016 and 2024, the overall market is expected to surge at a CAGR of 3.0%.

U.S. to Dominate North America Yogurt Market with 3.7% CAGR 2016–2024

The demand for traditional yogurt is projected to exhibit continued growth during the forecast period. By the end of 2024, the traditional yogurt segment is estimated to hold a share of 38.2% in the North America yogurt market. Greek yogurt will follow this lead quite closely. In terms of regions, the U.S. is likely to dominate the market as the country is projected to surge at a CAGR of 3.7% between 2016 and 2024.

Greek Yogurt Continues to Show Promise of Growth through Forecast Period as Preference Remains Steady

The yogurt market across North America received a massive impetus after the introduction of Greek yogurt. The revolution since then has garnered a significant clientele, which has continuously shaped the trajectory of the overall market. The demand for Greek yogurt, which holds about 40% share in the total market, is expected to be on the rise as it contains few carbohydrates and fats. This type of yogurt is known to be rich in proteins and calcium, which has been its key growth drivers amongst the fitness-conscious consumers. Today, the North America yogurt market is on the cusp of a revolution has several manufacturers in the market are introducing a variety of flavors to favor myriad palates.

The relentless growth of the dairy industry in the U.S. has also been fueling the North America yogurt market. “The large-scale operations of dairy industry, adoption of innovative technologies, and continuous efforts to bring in product diversification has changed perceptions about yogurt, putting it on pedestal amongst consumers seeking healthy food options,” states the lead author of this research report. The market has also benefitted with increasing investments from several big and small players, who have ardently diversified the product through methods of making and packaging. The changing lifestyles, improving disposable incomes, and growing awareness about living healthy lifestyles are all expected to make a significant difference to the soaring revenue of the North America Yogurt market in the near future.

Maturing Demand for Yogurts to Challenge Overall Market

Analysts suspect that the demand for Greek yogurt is likely to mature, which is likely to impact the sales in the forecast period. Owing to this reason, manufacturers will shift their focus to other types of yogurt, which might hamper the sales even more. Though the yogurt market is likely to mature, the potential for yogurt drinks is estimated to be relatively. These come in a wide range of flavors and are gaining popularity amongst consumers.

Greek Yogurt to Continue to Rule Consumer Preference in North America Yogurt Market

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.

North America Yogurt Market: Maturing Demand for Yogurts to Challenge Overall Market

North America Yogurt Market: Snapshot

Yogurt is an important part of diet and has assumed an integral role in changing lifestyles of several consumers. A dairy product made by fermentation of milk using a bacterial treatment, yogurt is gaining remarkable popularity due to its nutritional value. The report anticipates that yogurt will continue to have a steady demand over the next few years as the dairy industry grows at a remarkable pace. Analysts project that the North America yogurt market will benefit with product diversification and improved packaging methods that have enhanced the shelf life of the product. According to the research report, the North America yogurt market stood at US$11.18 bn in 2015 and is poised to be worth US$14.59 bn by 2024. During the forecast period of 2016 and 2024, the overall market is projected to surge at a CAGR of 3.0%

Introduction of Various Flavors and Types Ensures Continued Market Growth

On the basis of products, the North America yogurt market is segmented into Australian yogurt, Icelandic yogurt, Greek yogurt, non-dairy yogurt, kids’ yogurt, and traditional yogurt amongst others. The introduction of a wide range of yogurts besides the traditional yogurt has augmented the demand in the recent years. Unlike the traditional yogurt, the others are strained, which makes them thicker and denser and loaded with protein. Thus, several health-conscious consumers are opting for this type of yogurt due to its nutritional benefits. The indigenous flavoring of yogurts pertaining to the regions their hail from is also giving the overall market a massive impetus. Furthermore, since kids’ yogurt is made from organic sources with additional flavors, it has garnered special interest amongst parents who are on a constant lookout for healthy, organic food items.

The report projects that the Greek and traditional yogurt will dominate the North America market throughout the forecast period. Collectively, these products accounted for a whopping share of 75% in the overall market in terms of revenue in 2015. High demand for Greek yogurt across the U.S. and its relentless penetration across the country helped the product segment accrue a share of about 40% in in the U.S. yogurt market in 2015.

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Cups and Pouches Emerge as Winning Packaging Segments in Global Market

On the basis of packaging, the North America yogurt market is divided into tubs, jars, pouch, and cups. In 2015, cups held a significant share in the overall market accounting for nearly 70% of it. The convenience of using and disposing of pouches and cups has garnered to two packaging types incredible popularity in recent times. These packaging segments are also expected to benefit from attractive designs being made in cups and pouches for seeking consumer attention.

The low cost of packing of cups is also expected to boost the demand for cups to package various types of yogurts during the forecast period. Analysts anticipate that pouch segment will exhibit a rapid growth rate in the coming years as well. On the other hand, demand for bottles and tubs is anticipated to lose a sizeable market share to the growing uptake of cups and pouch packaging segments in the coming few years.

The key players operating in the North America yogurt market are Dannon Inc., Fage International S.A., Chobani, LLC, Yoplait USA, INC, Noosa Yogurt LLC, The Icelandic Milk and Skyr Corporation, Stonyfield Farm, Annie's Homegrown, AtlantaFresh, and Berkeley Farms.

North America Yogurt Market: Investments in Emerging Economies to Augur Well, says TMR

Transparency Market Research observes that the leading players in the North America Yogurt Market held a share of 74.3% in market in 2016. This mammoth share indicates that the market is highly consolidated with the presence of few strong players. Chobani, Danone, Private Label, Yoplait, and Fage are the top five players. Their dominance can be credited to a diverse and a comprehensive range of products. The persistent efforts to add more number of flavors and deliver them through innovative packaging and marketing methods is estimated to be the primary focus on these companies in the coming years. Additionally, these companies are also likely to collaborate with dairy owners in emerging markets for strategic reasons. Geographical expansion is estimated to fare well with the North America yogurt market in the near future.

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According to the research report, the opportunity in the North America yogurt market is expected to be worth US$14.59 bn by 2024 as compared to US$11.18 bn in 2015. During the forecast years of 2016 and 2024, the overall market is expected to surge at a CAGR of 3.0%.

U.S. to Dominate North America Yogurt Market with 3.7% CAGR 2016–2024

The demand for traditional yogurt is projected to exhibit continued growth during the forecast period. By the end of 2024, the traditional yogurt segment is estimated to hold a share of 38.2% in the North America yogurt market. Greek yogurt will follow this lead quite closely. In terms of regions, the U.S. is likely to dominate the market as the country is projected to surge at a CAGR of 3.7% between 2016 and 2024.

Greek Yogurt Continues to Show Promise of Growth through Forecast Period as Preference Remains Steady

The yogurt market across North America received a massive impetus after the introduction of Greek yogurt. The revolution since then has garnered a significant clientele, which has continuously shaped the trajectory of the overall market. The demand for Greek yogurt, which holds about 40% share in the total market, is expected to be on the rise as it contains few carbohydrates and fats. This type of yogurt is known to be rich in proteins and calcium, which has been its key growth drivers amongst the fitness-conscious consumers. Today, the North America yogurt market is on the cusp of a revolution has several manufacturers in the market are introducing a variety of flavors to favor myriad palates.

The relentless growth of the dairy industry in the U.S. has also been fueling the North America yogurt market. “The large-scale operations of dairy industry, adoption of innovative technologies, and continuous efforts to bring in product diversification has changed perceptions about yogurt, putting it on pedestal amongst consumers seeking healthy food options,” states the lead author of this research report. The market has also benefitted with increasing investments from several big and small players, who have ardently diversified the product through methods of making and packaging. The changing lifestyles, improving disposable incomes, and growing awareness about living healthy lifestyles are all expected to make a significant difference to the soaring revenue of the North America Yogurt market in the near future.

Maturing Demand for Yogurts to Challenge Overall Market

Analysts suspect that the demand for Greek yogurt is likely to mature, which is likely to impact the sales in the forecast period. Owing to this reason, manufacturers will shift their focus to other types of yogurt, which might hamper the sales even more. Though the yogurt market is likely to mature, the potential for yogurt drinks is estimated to be relatively. These come in a wide range of flavors and are gaining popularity amongst consumers.

This review is based on Transparency Market Research’s report, titled “Yogurts Market - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

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

• Cups
• Pouch
• Tubs
• Bottles

North America Yogurt Market, by Geography

• North America
• U.S.
• Rest of North America