ROCKVILLE, Md: I scream, you scream, we all scream for...yogurt. Well perhaps yogurt hasn't quite reached the full-scale popularity and saturation enjoyed by its more delectable dairy-based counterpart ice cream, but yogurt nevertheless remains popular with consumers even though Americans eat it at a much smaller rate per capita compared to other countries.
In the brand new report The Yogurt Market and Yogurt Innovation, 3rd Edition, market research firm Packaged Facts estimates retail dollar sales in the U.S. yogurt industry were just shy of $9 billion in 2017. Sales increased at a compound annual growth rate (CAGR) of 2% between 2012 and 2017.
In recent years, U.S. consumers have embraced not only Greek yogurt, but have also taken to authentic, clean-label and organic versions, and to yogurt drinks, which are becoming more accepted with sales growing rapidly. Yogurts with new flavors and in new formats have also kept consumers interested in the category, and have helped broaden yogurt's appeal as a breakfast item, snack, dessert, or meal replacement.
This sustained consumer interest in yogurt is forecast to spur the industry to continued sales growth looking ahead to 2022. Over the next five years Packaged Facts predicts yogurt drinks will continue to grow in popularity, with sales increasing to drive overall market gains. Meanwhile, major marketers will respond to opportunities in growth niches -- particularly in plant-based, vegan non-dairy yogurt.
