Yogurt Sales May Reach $67 Billion by 2015

By 2015, global yogurt consumption will reach 20.6 million tons, equaling $67 billion in sales, predicts market researcher Global Industry Analysts Inc. (GIA).

Currently, yogurt sales are largely driven abroad, says GIA, with Europe and Asia-Pacific accounting for 80% of the global market. 'Asia presents a huge opportunity due to the rising incidence of lifestyle-related health concerns, such as diabetes and obesity, brought on by rapid economic development and rising income levels,' states GIA.

Asia-Pacific yogurt consumption could reach 5.2 million tons by 2012. Narrowing the region down, GIA says that China will be the fastest-growing market, potentially reaching $3.6 billion in sales by the end of this year.

GIA also noted a growing shift in consumer preference from conventional spoonable yogurts to specialty products such as yogurt drinks and children...s products. Demand for organic yogurt products and innovative, premium products, such as 'bio-yogurt' or yogurt enhanced with juice and fruits, is also growing.

Sales of refrigerated yogurt products continue to grow fastest, as consumers associate this sector strongly with health benefits.

As for functional ingredients, the report says, 'products with the ability to improve immune system and enhance digestive functioning are expected to hold ground in the future.'

Danone continues to lead the market, accounting for 23.6% of sales in 2008. Other leaders are Sodiaal/Yoplait, Yakult Honsha, Nestlé, and Müller. These five companies represent more than 45% of global sales, says GIA.

For more information, visit GIA...s website here.