In this article, we are going to talk about the 15 biggest yogurt companies in the world. Click to skip ahead and jump to the 5 biggest yogurt companies in the world.
As people adopt a healthier lifestyle, dairy products such as yogurt are stacking up in your local stores. Yogurt is a food product obtained by milk fermentation. Yogurt is an excellent source of calcium and protein. It contains low fat and sugar which is favored by health-conscious consumers. It is made from milk cultured with consumable live bacteria (Lactobacillus bilgaricus and Streptococcus thermophilus) that helps with weight management and immune system. But this $7 billion industry has so much more to offer aside from its benefits. Stick around as we unfold the biggest yogurt companies in the world.
In 2019, the global yogurt industry was valued at $112.8 billion and it is expected to grow at a compound annual growth rate (CAGR) of 6.41% to hit an astounding $163.7 billion. The world’s largest yogurt companies primarily distribute in the European and American markets. According to the data from Observatory Economic Complexity, Germany is the top exporter of yogurt with a revenue of $638 million in 2018. Among other biggest exporters of yogurt were France ($326 million), Saudi Arabia (195 million), and Greece ($193 million). On the other hand, Italy was the biggest importer of yogurt with a total value of $270 million in 2018. The global export value of yogurt today is $2.84 billion. Additionally, according to the International Probiotics Association, China claims for nearly half of the sales revenue in the probiotic food market in Asia-Pacific. Read about the 11 countries that consume the most yogurt here.
The key drivers for the growth of the yogurt market are the availability of different exotic flavors such as matcha and blueberry, the convenience of drinkable yogurt, the growing trend for non-dairy yogurt for the vegan market. The non-dairy yogurt market was valued at $640.3 million in 2020. It is no surprise that some of the largest dairy companies in the world are making their best efforts to come up with plant-based milk and milk products such as yogurt due to the huge revenue potential it offers. These yogurt market drivers provide consumers the alternative and convenient ways to enjoy their healthy yogurt treat.
The COVID-19 outbreak had a surprisingly positive impact when it comes to certain aspects of diet, as people were forced to stay at home and cook their meals due to lockdowns. As a probiotic, yogurt saw a demand in the groceries and supermarkets as consumers follow a healthy diet to combat coronavirus and improve gut health in general. On the other hand, emerging e-commerce stores also witnessed a rise in online yogurt sales as online grocery delivery platforms had expanded their operations during the government-mandated lockdowns.
To give you the most accurate ranking, we researched the biggest yogurt companies in the world and ranked the companies mainly by their reported revenue. We checked the most recent financial statement of each company to compile this list of 15 biggest yogurt companies in the world. For publicly traded companies, we included the market cap for your reference as well. Now let’s see the biggest yogurt companies in the world.
15. Muller Milk and Ingredients (Private)
Total Revenue: $74.03 million
Headquarters: Willenhall, UK
One of the 15 biggest yogurt companies in the world is Muller Milk and Ingredients. Founded in i1947, MMI is one of the largest dairy companies in Britain that processes and distributes milk and milk products. Aside from its yogurt brands such as Müllerlight, Müllerice, Yogz, and Müller Corner, the company is also famous for its organic and skimmed milk, butter, and ingredients products.
14. Sovos Brands Intermediate, Inc. (Private)
Total Revenue: $211.51 million
Headquarters: Berkeley, CA
Sovos is a California-based food and beverage company that acquired Noosa Yoghurt. The company acquires high-quality brands to grow and promote globally. In 2018, Sovos completed its merger of Noosa Yoghurt. Some of the brands under Sovos are Michael Angelo’s Italian food, Rao’s Homemade pasta sauces.
13. MTY Food Group (TSX: MTY.TO)
Total Revenue: $550.9 million
Headquarters: Saint-Laurent, Montreal, Canada
MTY Group owns The Country’s Best Yogurt (TCBY), one of the largest frozen yogurt retailing companies in the world. TCBY offers soft served, no-fat, no-sugar, and regular yogurts. In 2018, MTY Group also completed the acquisition of sweetFrog Premium Frozen Yogurt for approximately $35 million.
12. Chobani (Private)
Total Revenue: $2 billion
Headquarters: Norwich, NY
One of the biggest names in the yogurt market is Chobani. Chobani is most famous for its Greek yogurt which is thicker and has a higher protein content than traditional yogurt. The company was founded in 2005 by a Turk named Hamdi Ulukaya. He came to the US as an immigrant and later became the man behind Chobani. Chobani also owns the largest yogurt plant in the world at 1 million square feet worth $450 million.
11. The Hain Celestial Group, Inc. (NASDAQ: HAIN)
Total Revenue: $2.05 billion
Market Cap: $4.11 billion
Headquarters: Lake Success, NY
Hain Celestial Group is a natural and organic food company that is engaged in manufacturing and distributing specialty food products. One of the main goals of the company is to provide “better-for-you” products to promote a healthy lifestyle on a large consumer scale. Hain is one of the preferred brands for plant-based yogurts. Aside from yogurt, the company also offers snacks, tea, and personal care products.
10. Saputo Inc. (TSX: SAP.TO)
Total Revenue: $10.9 billion
Headquarters: Montreal, Quebec, Canada
One of the largest milk producers in the world is also one of the largest yogurt makers known globally. The company has established operations not only in Canada but also in the UK, US, Australia, and Argentina. Saputo Inc produces cheese, cultured products, and other dairy ingredients.
9. China Mengniu Dairy Company Limited (HKSE: 2319.HK)
Total Revenue: $11.4 billion
Market Cap: $14 billion
Headquarters: Hong Kong, HK
China Mengniu ranks 9th on the list of 15 15 biggest yogurt companies in the world. China Mengniu Dairy operates as an investment holding and is primarily engaged in the production and distribution of dairy products. The company offers yogurt, milk beverages, ice cream, cheese, and other plant-based products. China Mengniu Dairy has 41,141 employees all around the world.
8. Meiji Holdings Co., Ltd. (JPX: 2269.T)
Total Revenue: $11.5 billion
Market Cap: $10.1 billion
Headquarters: Tokyo, Japan
Meiji Holdings is an investment company that is engaged in subsidiaries that manufacture and distribute dairy and pharmaceutical products. Meiji’s yogurt accounts for 41% of the market share in Japan alone. In 1973, Meiji acquired naming rights from Bulgaria and since then, it has attracted more consumers worldwide. The company’s pharma sector sells agricultural chemicals and veterinary drugs.
7. FrieslandCampina (Private)
Total Revenue: $12.5 billion
Headquarters: Amersfoort, Netherlands
FrieslandCampina is one of the 15 biggest yogurt companies in the world. It is engaged in producing and distributing dairy foods such as yogurt, milk, cheese, and cream fillings. The company also offers infant nutrition and desserts in European regions, Asia, and Africa. The company has 23,826 employees worldwide.
6. General Mills, Inc. (NYSE: GIS)
Total Revenue: $16.8 billion
Market Cap: $35.1 billion
Headquarters: Minneapolis, MN
Founded in 1866, General Mills Inc operated in the manufacturing and marketing of branded and unbranded consumer products and food sold through retail stores. General Mills plays a major role in the food and beverage industry. Among the yogurt brands General Mills offers, Yoplait is is the most popular in the multi-billion industry. Yoplait is globally available in 70 countries and significantly in Mexico, Canada, and Australia.
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Disclosure: None. 15 Biggest Yogurt Companies in the World is originally published at Insider Monkey.