Yogurt Market to Register a 8.2% CAGR from 2013-2019

2024-11-01 01:34:39 Lifestyle

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Transparency Market Research?s latest market study on the North America yogurt market delves into market trends and opportunities that will have a significant impact on the course of the market through the forecast period. Market indicators such as drivers and challenges are also examined for a credible analysis of this market. The yogurt market in North America will be valued at US$11.7 bn by 2019 expanding at a CAGR of 8.2% from 2013 to 2019. The market?s valuation in 2012 was US$7.3 bn, says the report.The report is titled, ?Yogurt Market - North America Scenario, Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019?, and available for sale on the company website.

In North America, increasing awareness about the health benefits of yogurt, especially among young adults has been a reason to include the food as part of main meals. The production of yogurt involves fermentation of milk, wherein friendly bacteria act on milk to convert milk into curds. Consumption of yogurt boosts immunity, helps combat diarrhea and constipation, and provides calcium as well.

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Due to increased consumption of the product, distribution channels have also expanded operations for the product to be available across departmental stores, supermarkets, and hypermarkets among others. Consumption of yogurt is also a fad among weight watchers as a healthy food option. Due to these reasons, the North America yogurt market will be on a growth trajectory displaying double-digit growth rate in the coming years.

However, the high manufacturing cost of the product and notions among consumers about dairy products causing allergies and cancer may have a negative impact on the growth of this market.Product type and geography are the criteria that divide the yogurt market in North America. On the basis of product, set yogurt and frozen yogurt are the segments of this market. Between the two, the frozen yogurt segment will witness substantial demand in the coming years due to its consumption as a dessert infused with probiotic properties.

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The regional segments of the North America yogurt market are Canada, Mexico, and U.S. The report says that Mexico will emerge as the next largest market for yogurt in this region. Increasing disposable incomes, increasing population, changing lifestyles, and improving food choices are the reasons cited for this. Both set yogurt and frozen foods will witness substantial demand in Mexico for cooking and ready-to-eat purposes respectively, adds the report.

Currently, the U.S. is the largest yogurt market in North America. The presence of some of the world?s largest dairy companies, efficient distribution channels, modern infrastructure, and health awareness are the reasons for this. Canada exhibits a growing demand for frozen yogurt as a healthy dessert option.

The top companies that operate in the yogurt market of North America are General Meals, Chobani Inc., Groupe Danone S.A., Parmalat, U.S., Sodiaal S.A., and Ultima Foods Inc. The private yogurt brands in North America will gain a strong share in the foreseeable years due to economical pricing.

The North America yogurt market is segmented as follows:

North America Yogurt Market, by Type
Frozen Yogurt
Set Yogurt

North America Yogurt Market, by Region
U.S.
Canada
Mexico