Yogurt - Panama | Statista Market Forecast

Revenue in the Yogurt market amounts to US$216.50m in 2024. The market is expected to grow annually by 6.18% (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$47.81 are generated in 2024.
In the Yogurt market, volume is expected to amount to 105.10m kg by 2029. The Yogurt market is expected to show a volume growth of 5.3% in 2025.0.
The average volume per person in the Yogurt market is expected to amount to 19.1kg 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 Panama is currently experiencing minimal growth due to factors such as low health awareness and limited adoption of digital technologies. This has hindered the convenience and accessibility of online health services, leading to slower market growth.

Customer preferences: As health and wellness become a top priority for consumers in Panama, the demand for healthier and more functional yogurt options has increased. This trend is driven by a growing awareness of the benefits of probiotics and gut health. Additionally, the rising popularity of plant-based diets has led to the emergence of dairy-free yogurt alternatives made from coconut, almond, and other plant-based sources. This shift towards healthier and more diverse yogurt options is also influenced by a growing health-conscious urban population in Panama.

Trends in the market: In Panama, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for organic and healthier yogurt options. This trend is driven by the increasing health consciousness among consumers and their growing preference for natural and sustainable products. As a result, dairy companies are now investing in research and development to create new and innovative yogurt flavors and packaging options. This trend is expected to continue in the coming years, as consumers become more health-conscious and demand for organic and sustainable products grows. This presents significant opportunities for industry stakeholders to tap into this growing market and offer products that cater to the evolving preferences of consumers.

Local special circumstances: In Panama, the Yogurt Market within the Dairy Products & Eggs Market is heavily influenced by the country's tropical climate and its diverse cultural background. The warm weather makes yogurt a popular and refreshing choice among consumers, while the cultural preference for fresh and natural foods drives demand for locally produced yogurt. Additionally, government regulations promoting healthy eating habits have led to the introduction of new yogurt flavors and varieties to cater to the health-conscious market. This unique combination of factors creates a dynamic and competitive market for yogurt in Panama.

Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market in Panama is greatly influenced by macroeconomic factors such as consumer spending power, population demographics, and government policies. With a growing middle class and increasing disposable income, the demand for healthy and convenient food options, such as yogurt, is on the rise. The government's efforts towards promoting healthy eating habits and investments in the dairy industry are also contributing to the growth of the yogurt market. Furthermore, global trends towards health and wellness are driving the demand for yogurt as a nutritious and probiotic-rich food choice.

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.