Northern America: Yoghurt Market 2024

Yoghurt Market Size in Northern America

The North American yoghurt market stood at $X in 2022, remaining stable against the previous year. In general, consumption enjoyed a strong increase. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Yoghurt Production in Northern America

In value terms, yoghurt production amounted to $X in 2022 estimated in export price. Overall, production enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 43% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Yoghurt Exports

Exports in Northern America

In 2022, exports of yoghurt in Northern America dropped modestly to X tons, waning by -3.9% on the previous year's figure. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -5.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 37%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, yoghurt exports contracted to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +68.3% against 2015 indices. The growth pace was the most rapid in 2017 when exports increased by 44% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced slightly in the following year.

Exports by Country

In 2022, the United States (X tons), distantly followed by Canada (X tons) represented the key exporters of yoghurt, together constituting 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Canada (with a CAGR of +9.8%).

In value terms, the largest yoghurt supplying countries in Northern America were the United States ($X) and Canada ($X).

Canada, with a CAGR of +7.7%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, surging by 2.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 8.9%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.2%).

Yoghurt Imports

Imports in Northern America

In 2022, the amount of yoghurt imported in Northern America dropped slightly to X tons, approximately reflecting the previous year. In general, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2019 when imports increased by 200% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, yoghurt imports reached $X in 2022. Overall, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 82%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States dominates imports structure, finishing at X tons, which was near 86% of total imports in 2022. It was distantly followed by Greenland (X tons), mixing up an 8.3% share of total imports. The following importers - Canada (X tons) and Bermuda (X tons) - each amounted to a 6.1% share of total imports.

Imports into the United States increased at an average annual rate of +7.4% from 2012 to 2022. At the same time, Greenland (+9.3%) displayed positive paces of growth. Moreover, Greenland emerged as the fastest-growing importer imported in Northern America, with a CAGR of +9.3% from 2012-2022. Bermuda experienced a relatively flat trend pattern. By contrast, Canada (-2.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States and Greenland increased by +6 and +1.8 percentage points, respectively.

In value terms, the United States ($X) constitutes the largest market for imported yoghurt in Northern America, comprising 86% of total imports. The second position in the ranking was held by Greenland ($X), with a 6.6% share of total imports. It was followed by Canada, with a 4.5% share.

In the United States, yoghurt imports increased at an average annual rate of +7.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Greenland (+7.5% per year) and Canada (+0.4% per year).

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the import price increased by 69%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while Greenland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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