Growing Focus on Health and Well-Being Fuels North America Yogurt Market

2024-11-07 06:37:26 Lifestyle

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Yogurt has emerged as a healthy snacking alternative and its benefits in the daily diet have been gaining global prominence. Yogurt boosts the immune system, helps combat diarrhea and constipation, and provides calcium. Yogurt is also being consumed by young adults to induce weight loss. These factors are significantly driving the global and North America yogurt market.

In 2012, the value of the North America yogurt market was pegged at US$7.3 bn according to a report published by Transparency Market Research. Developing at a steady 8.20% CAGR from 2013 to 2019, this market is anticipated to reach US$11.7 bn by 2019. This market is driven by a number of factors including greater demand for dairy products, higher disposable incomes, changing diets, and growing population. The North America yogurt market is geographically divided into the US, Canada, and Mexico.

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High Potential in Expanding US Yogurt Market

Compared to the per capita yogurt consumption in other countries, the US market seems to be at an infancy stage. However, rising consumer needs for convenience, nutrition, and taste, increasing competition, and new product introductions are anticipated to remarkably boost the yogurt market in the US, according to industry experts. One of the latest product categories in this market is Greek yogurt, which has given rise to a lot of activity and excitement in the yogurt segment. Over the past few years, this product has witnessed tremendous growth with players such as Chobani catering to the changing tastes of the American consumer. The positive performance of the Greek yogurt category has paved the way for many other international-styled products such as Icelandic-style and Australian-style yogurts to venture into the US yogurt market.

Canada Yogurt Market to Record Strong Growth

Yogurt and yogurt products, including spoonable and drinkable variants, continue to witness strong growth in Canada. Yogurt forms one of the most dynamic and rapidly developing segments in the dairy industry in Canada. This market is characterized by variety and freshness of product, which shapes consumer demand. Canada forms a highly competitive and mature marketplace for yogurt, marked by realignment of brand portfolio, divestitures, acquisitions, and entry of new segments. Online grocery retail is also anticipated to grow in the coming years, thanks to the development of the click-and-collect model. The vendor landscape of the Canada yogurt market is led by Danone Canada that like the US, is focusing on Greek yogurt.

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Mexico to Emerge as Next Big Yogurt Market

Even though the US forms the largest yogurt market in North America, Mexico is anticipated to emerge as a strong contender thanks to a surging demand for dairy and dairy products. Improving diet choices, increasing population, and rise in disposable incomes are the main factors fueling the demand for yogurt in Mexico. This future yogurt boom in the country is predicted to benefit Monterrey, Mexico-based Sigma Alimentos, whose range of formats and flavors under the Yoplait brand have attracted young consumers. The leading Yoplait products in Mexico include Yoplait Placer products, Yoplait Disfruta fruit-on-the-bottom varieties, and Yoplait Griego Greek-style yogurt. Paris-based Groupe Danone is another major manufacturer catering to the rising yogurt demand in Mexico with its drinkable varieties for children.Some of the top players competing in the North America yogurt market are Grupo Alpura, Groupe Danone S.A., Fage S.A., Chobani Inc., Nestle SA, and General Mills Inc.

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