Yogurt - Cyprus | Statista Market Forecast

Revenue in the Yogurt market amounts to US$43.46m in 2024. The market is expected to grow annually by 4.97% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$46bn in 2024).
In relation to total population figures, per person revenues of US$34.26 are generated in 2024.
In the Yogurt market, volume is expected to amount to 12.45m kg by 2029. The Yogurt market is expected to show a volume growth of 3.1% in 2025.0.
The average volume per person in the Yogurt market is expected to amount to 8.4kg in 2024.

Definition:

The Yogurt market covers products that are created by allowing bacteria to convert lactose found in milk into lactic acid resulting in a thickened, sour-tasting dairy product.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Natural/plain yogurt
Flavored yogurt (e.g. Vanilla yogurt, fruit-flavored yogurt)
Greek yogurt
Whole milk yogurt, low-fat yogurt, non-fat yogurt
Probiotic yogurt, lactose-free yogurt

Milk
Cream cheese
Cheese
Curdled milk
Butter milk
Yogurt drinks
Out-of-home consumption

The Yogurt Market in Cyprus is currently experiencing minimal growth, impacted by factors such as increasing competition, fluctuating consumer tastes, and economic uncertainties. Despite these challenges, the market is still driven by the convenience and health benefits offered by yogurt products.

Customer preferences: The Yogurt Market in Cyprus has seen a rise in demand for healthier and more natural options, as consumers become more health-conscious and environmentally aware. This has led to an increase in the popularity of organic and plant-based yogurt varieties. Additionally, the trend of incorporating probiotics into daily diets for gut health has also contributed to the growth of the yogurt market. With the rise of veganism and flexitarianism, there is also a demand for dairy-free yogurt alternatives made from ingredients like coconut, almond, and soy milk.

Trends in the market: In Cyprus, the yogurt market of the Dairy Products & Eggs Market in The Food market is experiencing a rise in demand for Greek-style yogurt, known for its higher protein content and health benefits. This trend is expected to continue, with consumers becoming more health-conscious and seeking out products with added nutritional value. Additionally, there is a growing trend of using plant-based alternatives to traditional dairy yogurt, catering to the increasing number of vegans and lactose-intolerant individuals. These developments indicate a shift towards healthier and more sustainable options in the yogurt market, presenting opportunities for industry stakeholders to innovate and diversify their product offerings.

Local special circumstances: In Cyprus, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the Mediterranean diet, which emphasizes the consumption of yogurt as a healthy and nutritious food. This cultural preference for yogurt, combined with the country's geographical location and climate, has led to a high demand for locally produced yogurt. Additionally, the government of Cyprus has implemented strict regulations for dairy production, ensuring high quality and safety standards for yogurt products, further driving the market's growth.

Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market in Cyprus is heavily influenced by macroeconomic factors such as consumer spending power, import/export regulations, and government policies. The country's stable economic health and favorable regulatory environment have led to a steady growth in the demand for yogurt products. Additionally, the rising health consciousness among consumers and the increasing popularity of dairy alternatives have also contributed to the growth of the yogurt market in Cyprus. Moreover, the growing tourism industry in the country has also created a demand for various dairy products, including yogurt, leading to further market expansion.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.