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Report
North America Yogurt Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 100 Pages I Mordor Intelligence
The North American yogurt market is projected to witness a CAGR of 3.9% during the forecast period (2022- 2027).
The COVID-19 crisis has significantly affected the market. There was a change in consumers' buying behavior as they preferred healthier products rather than chemically composed food products due to the rising awareness about healthier lifestyles. Chobani LLC, a major player in this sector, witnessed sales growth during the pandemic. The company's sales rise was majorly due to consumers stockpiling yogurt products for at-home consumption.
The increasingly health-conscious population mainly drives the market. Various health benefits associated with yogurt consumption are leading to its demand as a healthy snack option.
Drinkable yogurt is one of the categories that is seeing a growing trend in the market, majorly due to its convenience. Further, the ongoing trend of healthy hydration and the growing intake of probiotics are boosting sales.
North America Yogurt Market Trends
Consumers' Preference for a Healthier Lifestyle
Due to the rising awareness about various diseases, such as obesity, consumers are opting for a healthier diet. These diseases can lead to several other cardiovascular issues, such as health attacks and uneven heartbeat. The increasing cases of obesity in North America, particularly in the United States, and increased awareness among individuals regarding weight management through yogurt consumption are expected to help the market grow. The increased health consciousness among consumers has encouraged them to opt for yogurt. It has various health benefits such as improved digestion, enhanced immune function, and a reduced risk of several diseases, including obesity. Moreover, the growing types of yogurt, such as low-fat, low sugar, and different flavors, have drastically attracted the consumers' interest in this market.
Rising Consumer Demand for Non-dairy Yogurt
Plant-based foods continue to rise in popularity, including dairy-alternative products such as yogurt. Plant-based yogurt alternatives are renewing interest in the market with the growing number of vegans and flexitarians. Veganism in the region has been the key reason for the growth of this category, further boosted by indulgence buying. Players operating in the market believe that innovation can drive the market. Plant-based yogurts made from almond, cashew, coconut, flaxseed, and oats are evolving in the landscape. For instance, in 2021, Valio USA launched a new line of oat yogurts. The yogurt flavors include Plain, Vanilla, Blueberry, and Raspberry.
North America Yogurt Market Competitor Analysis
The North American yogurt market is highly competitive due to the presence of domestic and international players in this sector. The major players in the industry are General Mills Inc., Chobani LLC, Lactalis Corporation Inc., FAGE USA Dairy Industry Inc., and Danone Food. Key players are focusing on product development and innovation to meet the consumers' needs by offering a variety in taste and quality to maintain premiumization. Some of the major players use mergers and acquisitions as their key strategy to sustain and secure a leading position in the industry.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Category
5.1.1 Dairy-based Yogurt
5.1.2 Non-dairy-based Yogurt
5.2 By Type
5.2.1 Plain Yogurt
5.2.2 Flavored Yogurt
5.3 By Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Convenience Stores
5.3.3 Specialty Stores
5.3.4 Online Stores
5.3.5 Other Distribution Channels
5.4 By Geography
5.4.1 United States
5.4.2 Canada
5.4.3 Mexico
5.4.4 Rest of North America
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Active Companies
6.3 Most Adopted Strategy
6.4 Company Profiles
6.4.1 General Mills Inc.
6.4.2 Danone
6.4.3 Chobani LLC
6.4.4 Schreiber Foods
6.4.5 FAGE USA Dairy Industry Inc.
6.4.6 Johanna Foods Inc.
6.4.7 Lactalis Corporation
6.4.8 Nestle SA
6.4.9 Yakult Honsha Co. Ltd
6.4.10 Ultima Foods Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID19 ON THE MARKET
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