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Summary and extracts
1 Market Overview
1.1 Definition and presentation
Yogurt is a food product derived from the fermentation of milk. it is obtained through the action of specific lactic acid bacteria, mainly Lactobacillus bulgaricus and Streptococcus thermophilus, which convert lactose (the milk sugar) into lactic acid. This fermentation process gives yogurt its creamy texture and characteristic slightly sour taste.
The value of the global yogurt market is expected to grow steadily between 2024 and 2029. Starting from $105.61 billion in 2024, it is expected to increase by 28.6 percent, reaching $135.82 billion in 2029 at a compound annual growth rate (CAGR) of 5.16 percent. Online trade is the fastest growing retail channel in the off-trade category, and is expected to register a compound annual growth rate (CAGR) of 7.75% during the forecast period.
The European yogurt market is expected to grow steadily between 2024 and 2029, from a value of $31.85 billion in 2024 to $40.10 billion in 2029, with a total increase of 25.9% and a compound annual growth rate (CAGR) of 4.50%. In 2024, the European yogurt market accounts for 30.16% of global quotations, however, this shows that most of the market is located outside the European continent.
Between 2017 and 2022, the value of yoghurt production sold in Italy declined significantly, suffering a decrease of 34.5%, however, it is expected to grow steadily from 2023 to 2029, showing an overall increase of 20.8% in six years at a European CAGR of 3.20%. As for the market in recent years, the number of companies in Italy has declined by 19.91%, a sign of consolidation in the industry. However, the number of employees operating has remained stable, hovering around 34,000. This indicates that while the market has concentrated on fewer firms, the workforce has been maintained, due to higher productivity and absorption of employees by the remaining firms.
1.2 The Global Market
The value of the global yogurt market is expected to grow steadily between **** and ****. Starting from $***.** billion in ****, it is expected to increase by **.* percent, reaching $***.** billion in **** at a compound annual growth rate (***) of *.**% during the forecast period. Online retailers, including Amazon, Sainsbury's, Asda, and Tesco, represent the most dominated ...
1.3 The European market
The value of the European yogurt market is projected to grow steadily between **** and ****, from $**.** billion in **** to $**.** billion in ****, an overall increase of **.*% at a CAGR of *.**%.
European yogurt market value Europe, ****-****, in US$ billion MondorIntelligence
In the market, frozen yogurt stands out as the dominant segment, while drinkable ...
1.4 The Italian market
The value of yoghurt production sold in Italy showed a decreasing trend between **** and ****, falling from €***.* million in **** to a low of €***.* million in ****, with an overall decrease of **.* percent over this period. However, a significant recovery was observed in ****, with a **.* percent increase over the previous year, bringing the value ...
1.5 Imports and Exports
Between **** and ****, Italy showed an increasing trend in both exports and imports of yogurt. Exports increased from **.* million in **** to **.* million in ****, registering an increase of **.* percent. However, imports had a much more pronounced increase, rising from ***.* million in **** to ***.* million in ****, a growth of **.* percent. The coverage ratio, which measures ...
1.6 Inflation suffered by the sector
The yogurt industry has been affected by inflation mainly through increased production costs due to higher prices of raw materials such as milk, fruit and sugar, as well as energy and transportation costs. As a result, many companies have had to raise retail prices to offset these costs, but in order ...
2 Demand analysis
2.1 Overview of demand
The average monthly expenditure of Italian households on yogurt showed an upward trend from **** to ****. Starting from €*.** in ****, spending increased steadily, reaching €*.** in ****, with an overall increase of **.* percent over the period.
Average monthly household expenditure item for yogurt Italy, ****-****, in current &euro Istat
Annual yogurt production in Italy between ...
2.2 Geographical distribution of demand
In ****, the demand for yogurt in Italy showed a rather balanced geographical distribution among different regions of the country. The Northeast and Northwest recorded the highest demand, both with a value of *.**, indicating a higher propensity for consumption than the rest of the country. The Center followed with a value of ...
2.3 Demand drivers
In ****, the composition of spending in the dairy industry in Italy shows a varied distribution among different product categories. Fresh cheeses (***) make up a smaller portion of spending, with butter at *.* percent being the smallest item among the major dairy products. This distribution reflects a preference for cheeses, particularly fresh and ...
2.4 Trends in yogurt demand
The trend of online yogurt searches in Italy between **** and **** shows considerable variability, with peaks and troughs in different periods. In ****, searches peaked in September (***). These data suggest some seasonality in interest in yogurt, with peaks at the beginning of the year and fall, and more noticeable declines in the summer ...
2.5 New trends in demand
In recent years, the yogurt market has seen a number of significant changes in demand, driven by a combination of health trends, preferences for natural ingredients, and the emergence of new consumer segments:
*. High Protein Yogurt
Trend: The growing focus on health and wellness has led to increased demand for ...
3 Market structure
3.1 Structure and dynamics of the Italian market
The number of enterprises active in milk derivatives production in Italy showed a steady decrease between **** and ****. Starting from *,*** enterprises in ****, the number dropped to *,*** in ****, an overall reduction of **.* percent in six years. This contraction indicates a consolidation of the industry due to economic difficulties, mergers, acquisitions, or closures of ...
3.2 Value and production chain
Source: ****
Yogurt is made from whole, partially or fully skimmed milk and fermented by inoculation with special acidifying microorganisms. The steps in the preparation of yogurt, from milk to final product, are listed below:
Pasteurization: the milk is pasteurized to prevent deactivation of the bacteria. It also denatures the whey proteins. Adjustment ...
3.3 Distribution channels
Yogurt distribution takes place through a variety of channels, each of which plays a crucial role in bringing the product to the end consumer. The channels are as follows: Large-scale retail trade (***) Large-scale retail, which includes supermarkets, hypermarkets and discount stores, is the main channel for selling yogurt. This channel is ...
3.4 The main players in the market
The main Italian yogurt production companies are as follows:
Granarolo: This is one of Italy's leading dairy groups, based in Bologna and founded in ****. The company is known for producing a wide range of dairy products, including milk, yogurt, cheese and butter. It manages an integrated supply chain involving more than ...
4 Supply analysis
4.1 Type of the offer
The supply of yogurt in the market is extremely diverse and segmented, reflecting the different needs and preferences of consumers. The types of offerings are as follows:
Finally, on average, a jar of "standard" Italian yogurt weighs about *** grams including about *** ml of product. However, many variations are possible. The format ...
4.2 Price trends
Between July **** and July ****, the consumer price index for yogurt in Italy increased by **.* percent, from ***.* to ***.*. After a significant peak of ***.* in December ****, the index showed some volatility, with slight fluctuations between ***.* and ***.* between January **** and July ****. Despite these fluctuations, the index has maintained an upward trend from **** levels, stabilizing ...
4.3 New trends in supply
The yogurt market is undergoing a dynamic transformation driven by new trends reflecting changes in consumer preferences, technological innovations, and a growing interest in wellness. Below is a detailed description of the main trends in yogurt supply:
*. High-protein yogurt
Interest in active and healthy lifestyles has prompted consumers to seek ...
5 Regulations
5.1 Yogurt regulation
The regulation and legislation of the production and sale of yogurt in Italy is based on a set of regulations at both national and European levels, with the aim of ensuring food safety, product quality and correct consumer information.
At the European level, Regulation (***) No. ****/**** governs the provision of food information ...
6 Positioning of players
6.1 Market segmentation
- Parmalat
- Granarolo
- Galbani
- Danone
- Sterilgarda
- Latteria Soresina
- Centrale del latte d'Italia
- Mila
- Muller
- Yomo
List of charts presented in this market study
- Breakdown of purchasing channels for milk and dairy products
- Purchasing dynamics by distribution channel
- Consumer price index of yogurt [011440] for the whole community (base 2015=100) - monthly data
- Consumer price index of yogurt for the whole community (base 2015=100) - annual averages
- Global yogurt market value
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