The global market for yogurt was estimated at USD85.6bn in 2020, and is projected to reach a size of USD103.3bn by 2026, growing at a CAGR of 3.1% over the analysis period, according to a new report by Global Industry Analysts. Set yogurt, one of the segments analyzed in the report, is projected to record a 2.8% CAGR and reach USS47.2bn by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Greek yogurt segment is readjusted to a revised 2.5% CAGR for the next 7-year period.
The US market is estimated at USD23.7bn in 2021, while China is forecast to reach USD20.7bn by 2026. Among the other noteworthy markets are Japan and Canada, forecast to grow at 0.8% and 2.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.5% CAGR.
In the global yogurt drinks segment, the US, Canada, Japan, China, and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets, accounting for a combined market size of USD19.4bn in the year 2020 will reach a projected size of USD24.5bn by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.