Yogurt Market - North America Scenario, Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019
Albany, NY -- (SBWIRE) -- 02/10/2015 -- Yogurt has become an important part of day-to-day dietary regimes. Increased awareness about the benefits of yogurt has resulted in a major shift in consumers' preferences in the dairy supplements segment. Some of the benefits of yogurt are that it:
Works as an excellent remedy for diarrhea and constipation
Maintains a supply of beneficial bacteria, i.e. probiotics
Acts as a calcium supplement for the lactose intolerant population
Boosts immune system.
Apart from these, yogurt also makes for a healthy yet tasty snack. These benefits of yogurt have led the North America yogurt market towards immense success.
Yogurt is produced by bacterial fermentation of milk. Its easy inclusion of probiotics is the key factor that is making it popular among people, especially those concerned about obesity.
Browse Full North America yogurt market Report With Complete TOC
Yogurt Market in North America: Private Brands to Obtain Larger Market Share
The yogurt market in North America is studied on the basis of product and region. Set yogurt and frozen yogurt are the two market segments based on product type. Regionally, the yogurt market in North America consists of regions such as Canada, Mexico, and the U.S.
Frozen yogurt is generally used as a dessert, while set yogurt is used in several everyday recipes, such as salads, dips, and health drinks. The rising number of distribution channels such as hypermarkets, supermarkets, and departmental stores is making it available everywhere. In the set yogurt segment, Greek yogurt is the one most consumed owing to its superior quality and unique taste.
The market for frozen yogurt is likely to grow at a higher growth rate compared to set yogurt. This development is primarily credited to the emergence of frozen yogurt as a dessert in the Canadian market. However, Mexico is likely to be the most opportunity-rich market for both set and frozen yogurt from 2013 to 2019.
The United States accounted for the biggest share for yogurt in North America. In the United States, the demand for yogurt is majorly propelled by increasing health concerns and need for highly nutritious food. In addition to this, the U.S. is the biggest producer of milk and dairy products, and has a much larger population than other North American nations.
In 2012, the yogurt market in North America was valued at US$7.3 billion. It is estimated to reach US$11.7 billion by 2019; growing at an 8.2% CAGR during 2013-2019. This vigorous development in yogurt market is mainly because of the growing recognition of Greek yogurt in North America.
In the future, Mexico is expected to be the next big market for yogurt in North America. The demand from Mexico will be driven by an increase in disposable income, improvements and modifications in diet options, and its ever-increasing population. Yogurt market is likely to gain enormous popularity amongst teenagers, owing to its packaging as a healthy snack for dessert. The competition between major players has resulted in increasing product innovation and proliferation, which has brought down the cost. Rising awareness about the health benefits of yogurt has resulted in increased consumption. This is likely to lead to an enormous growth in the yogurt market in North America.
The major yogurt market players in North America are Groupe Danone S.A., Nestle S.A., Grupo Alpura, Fage S.A., Chobani Inc., and General Mills Inc.
Private label brands are likely to gain a massive market share in North America during 2013 to 2019, owing to its cost effectiveness. In the United States, Chobani Inc. accounted for the largest market share in 2013, which was followed by General Meals and Groupe Danone S.A. The same year, the Ultima Foods Inc. accounted for the biggest share in Canada, with Groupe Danone S.A. and Parmalat Canada following. At present, the yogurt market is dominated by Groupe Danone S.A., followed by Sodiaal S.A in Mexico.
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