The yogurt market - Italy

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.