The yoghurt market has witnessed significant growth and is poised to continue expanding in the coming years. In 2024, the market reached a value of nearly USD 54.92 billion and is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.00% from 2025 to 2034, reaching a total value of USD 98.35 billion by 2034. With North America leading the market and the Asia Pacific region emerging as the fastest-growing, the yoghurt market offers numerous opportunities for both established and emerging players in the food and beverage industry.

Yoghurt Market Outlook

The outlook for the global yoghurt market remains positive due to several factors. The increasing consumer preference for healthy and nutritious foods, the rising demand for probiotic and functional dairy products, and the growing popularity of plant-based yoghurt variants are some of the primary drivers of this growth.

In 2024, the yoghurt market stands at USD 54.92 billion, and this value is expected to grow steadily, reaching USD 98.35 billion by 2034. This projected growth is primarily attributed to innovations in yoghurt production, such as dairy-free options and the introduction of value-added yoghurt products that cater to changing consumer tastes and health-conscious trends.

Key Factors Driving Yoghurt Market Growth

Health Consciousness: The rising awareness of the health benefits associated with yoghurt, such as digestive health and immunity-boosting properties, continues to drive demand globally.

Probiotics and Functional Benefits: Consumers are increasingly looking for probiotic-rich and functional foods, which yoghurt offers in abundance, with the growing trend of gut health and wellness.

Plant-based Variants: With plant-based diets becoming more mainstream, the introduction of plant-based yoghurt made from almond, coconut, soy, and oat has expanded the market to new demographics.

Yoghurt Market Share & Trends

The yoghurt market is divided into several segments based on product type, distribution channel, and region. The following analysis provides an overview of the market share and emerging trends:

By Product Type

Regular Yoghurt: Regular yoghurt is the most consumed type globally, retaining a significant share in the market. Its consistency, taste, and health benefits make it a consumer favourite.

Greek Yoghurt: The popularity of Greek yoghurt continues to rise due to its high protein content and thicker texture, catering to consumers seeking healthier options.

Flavoured Yoghurt: Flavoured variants, such as strawberry, blueberry, and mango, have become increasingly popular, particularly in North America and Europe.

Non-Dairy Yoghurt: Plant-based yoghurts, primarily made from soy, almond, or coconut milk, are rapidly gaining traction, particularly among vegan and lactose-intolerant consumers.

By Distribution Channel

Supermarkets and Hypermarkets: These remain the dominant retail channel for yoghurt, allowing easy access to a wide range of brands and variants.

Online Retail: The online sales channel for yoghurt is also growing rapidly, with convenience and doorstep delivery becoming key factors for consumers.

Convenience Stores: These stores are also significant distribution points, particularly in urban regions where fast-paced lifestyles drive demand for easy-to-consume snacks.

Emerging Trends in the Yoghurt Market

Probiotic and Functional Yoghurt: The increasing awareness of the gut-health benefits of probiotics has driven a rise in functional yoghurt consumption.

Plant-Based and Vegan Yoghurt: As plant-based diets gain popularity, dairy-free alternatives such as coconut and oat-based yoghurt have seen increased demand.

Yoghurt for Children: Brands are developing yoghurt products specifically targeting children, focusing on health benefits, flavour preferences, and easy-to-consume formats like pouches or drinkable yoghurts.

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Yoghurt Market Opportunities and Challenges

Opportunities

Rising Demand for Functional Foods: As consumers become more health-conscious, the demand for probiotic, high-protein, and low-sugar yoghurt is expected to rise. Yoghurt manufacturers have an opportunity to capitalise on this trend by developing fortified yoghurt with added health benefits.

Expansion in Emerging Markets: The Asia Pacific region, particularly countries like India and China, is expected to drive significant growth in the yoghurt market. The growing middle-class population and urbanisation in these regions provide lucrative opportunities for market expansion.

Innovation in Product Offerings: With the continuous evolution of consumer preferences, yoghurt manufacturers have the chance to innovate, particularly in terms of plant-based options, functional yoghurt, and unique flavour combinations.

Challenges

Price Sensitivity: Despite the growing market, yoghurt remains a relatively price-sensitive product, particularly in developing regions where consumers may be unwilling to pay a premium for certain variants.

Dairy Allergies and Lactose Intolerance: While the growth of non-dairy options mitigates some of these concerns, dairy allergies and lactose intolerance still pose challenges for the traditional yoghurt segment.

Competition: The yoghurt market is highly competitive, with numerous local and international brands vying for market share. Maintaining product differentiation and brand loyalty in such a competitive landscape is a constant challenge for manufacturers.

Competitor Analysis

The yoghurt market is highly fragmented, with several key players leading the charge in product innovation, market expansion, and consumer engagement. Some of the leading companies in the yoghurt market include:

Lactalis American Group, Inc.: A leading global dairy company, Lactalis is known for its strong yoghurt portfolio, with popular brands like Stonyfield Farm and Brown Cow. It focuses on offering organic and probiotic-rich products.

Royal FrieslandCampina NV: Based in the Netherlands, this dairy giant offers a wide range of dairy products, including yoghurt under brands like Friso, Dutch Lady, and YoPro, catering to both traditional and health-conscious consumers.

China Mengniu Dairy Company Limited: One of China’s largest dairy producers, Mengniu dominates the local yoghurt market, with a focus on innovation and health-driven products, including probiotic and low-sugar variants.

Fonterra Co-operative Group Limited: A leading global dairy exporter from New Zealand, Fonterra produces a range of yoghurt products under brands like Anchor and Yoplait, focusing on both conventional and functional dairy options.

General Mills Inc.: Known for its Yoplait brand, General Mills is a major player in the yoghurt market, particularly in North America and Europe, offering traditional, Greek, and non-dairy yoghurt products.

Others: The yoghurt market also includes numerous regional and niche players who contribute to the diversity of products available, such as regional dairy brands and newer entrants focusing on plant-based alternatives.