Albany, NY -- (SBWIRE) -- 10/15/2018 -- The North America yogurt market is consolidated in nature with the leading players, namely Yoplait, Danone, Chobani, Fage, and Private Label accounting for a leading share in it. Together they accounted for 74.3% of the market in 2016. Various nimble strategies have helped them to grow and gain a stronghold over the market. Foremost among them is product innovation. Besides, they are also seen banking upon various marketing strategies such as eye catching packaging. This makes competition in the North America yogurt market stiff.

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A report on the North America yogurt market by Transparency Market Research finds that it would rise at a steady 3.0% CAGR over the forecast duration to become worth US$14.59 bn by 2024 from US$11.18 bn in 2015.

Based on the types of packaging, the North America yogurt market can be segmented into jars, tubs, cups, and pouches. Among them, the segment of cups accounted for a significant 70.0% share in the market in 2015. This is because of the convenience they accord and also because of the new designs being launched in the market. From a geographical standpoint, the North America yogurt market is dominated by the U.S. which has an outsize share in it. By rising at a 3.0% CAGR, the U.S. yogurt market is expected to retain its dominance in the near term too.

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Product Innovation Powers North America Yogurt Market

Several factors are serving to drive the North America yogurt market. Foremost among them is the players thrust on product innovation. They are seen coming up with yogurts with different flavors to entice more customers. They are fortifying the product with added nutrients such as vitamin D and others. Besides, they are also seen launching low fat yogurt for weight watchers. Many nimble companies in the North America yogurt market are taking it up several notches by producing organic yogurts. Made from natural ingredients with limited or no use of artificial additives and preservatives, those are seeing rising popularity owing to the new tribe of health conscious people.

A noticeable trend in the North America yogurt market is the backward integration by agile companies. Adds our in-house analyst who prepared the report, "Many companies are seen collaborating with dairy owners to bring down operation costs. It gives them easy access to the main ingredient milk. They are also seen targeting different demographics with different types of products."

Greek and Traditional Yogurt Major Revenue Generator in North America Market

The different types of products available in the North America yogurt market are Icelandic yogurt, Australian yogurt, non-dairy yogurt, Greek yogurt, traditional yogurt, and kid's yogurt. Apart from the traditional yogurt, all other yogurts have served to propel demand in the North America yogurt market on their introduction. This is because, as per our lead analyst, unlike traditional yogurt most other yogurts are strained. This makes them protein packed and thicker and denser. A breakout product among them is kid's yogurt made from organic sources with added flavors.