Latin America Yogurts Market

Latin America Yogurts Market Growth and Forecast (2023 - 2028):

Latin America Yogurts Market was worth USD 4.55 billion in 2022 and estimated to be growing at a CAGR of 3.22%, to reach USD 5.33 billion by 2028.

Market Overview:

Yogurt is a food product which is made from bacterial fermentation of milk. The bacteria which are used in preparing yogurt are called yogurt cultures. Action of bacteria on lactose present in milk produces lactic acid, which gives yogurt its characteristic taste. Most commonly, milk obtained from cow is used in making yogurt.

A wide range of delicacies are prepared from yogurt throughout the world. In India, a unique yogurt called dahi is prepared which is known for its characteristic taste. Dadiah is a special kind of yogurt prepared from fermented bamboo tubes in Sumatra region. In Iran, yogurt is used as a side dish to all meals in their cuisine.  Matsoni is a popular yogurt in Russia and Caucasus regions, which is believed to contribute to longevity and high life expectancy among the people. In addition to being used in foods, it is used in regions like India and Pakistan as a cosmetic by mixing yogurt and honey.

Drivers:

The Latin America Yogurts market is driven by factors like rising disposable incomes, changing dietary styles of people, rising availability of yogurt in developing regions of the world and growing awareness about wide range of health benefits such as immunity boost, relieving constipation and diarrhea offered by yogurt among others.

Latin America Yogurts Market Segmentation Analysis:

The Latin America Yogurts market is divided on the basis of product type into Icelandic yogurt, Australian yogurt, traditional yogurt, greek yogurt, kids yogurt, non-dairy yogurt and other yogurts. On the basis of packaged containers, the market is divided into yogurt tubs, yogurt cups, yogurt pouches and yogurt bottles.

Region Analysis:

Geographically the Latin America Yogurts Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Factors such as rising disposable income and increasing awareness about the health benefits offered by yogurt is expected to drive the market growth in the region.

Key Players in the Market:

Major Key Players in the Latin America Yogurts Market are

• Danone Groupe SA
• Ultima Foods Inc
• Chobani Inc
• Sodiaal S.A
• NESTLÉ SA
• General Mills
• Kraft Foods Group, Inc  
• Yakult Honsha Co