Yoghurt market in Latin America and the Caribbean

Earlier Report Observations

The yogurt market volume in Latin America and the Caribbean showed notable fluctuations from 2018 to 2023. It began at 23 698 tons in 2018, supported by a consumer shift toward probiotic and health-focused lifestyles that boosted demand for flavored yogurts. After a dip to 19 439 tons in 2019, volume recovered to 22 254 tons in 2020, driven by a rise in domestic production to 17 188 tons.

Market volume reached a peak of 24 946 tons in 2022 as production climbed to 18 416 tons, even as imports fell substantially. The following year, volume declined to 17 199 tons amid lower production and reduced imports. Concurrently, the market saw dynamic changes: new entrants such as Empresas Polar entered the Venezuelan segment, while innovative product launches like Nature's Fynd's vegan yogurt in Argentina and Chobani Complete in Mexico catered to growing demand for plant-based and high-protein options.

Longer-term initiatives, including a 2017 agreement between the Inter-American Development Bank and Danone to develop the regional yogurt market, helped shape the landscape. By 2024, flavor innovation remained central, with flavored yogurts accounting for 52.7% of the market, and health trends like gut‑health awareness continued to drive segmentation and new product development.

Production yoghurt in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of yoghurt, 2017-2020

World map of production of yoghurt, 2017-2020

Yoghurt production in Latin America and the Caribbean grew for the second year in a row. In 2020, the region produced 17.2 thousand tonnes of yoghurt, marking a significant increase of 32.4% compared to 2019. Looking at the period from 2017 to 2020, production rose by 38.2%, which translates to an average annual growth rate of 11.4%. The lowest production level was recorded in 2018 at 11.6 thousand tonnes, with the largest decline occurring that same year at 6.4%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

Exports yoghurt from Latin America and the Caribbean

Exports in kind, t

In 2020, yoghurt exports from Latin America and the Caribbean amounted to 10 107 tonnes, representing a 28.0% decrease from the previous year. From 2017 to 2020, exports fell by 35.9%, with an average annual decline of 13.8%. The sharpest drop was in 2018 at 34.3%, while the largest increase occurred in 2019 at 35.6%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

Between 2017 and 2020, the United States remained the primary buyer of yoghurt from Latin America and the Caribbean, accounting for 10.4% of total exports by volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

In 2020, Latin America and the Caribbean exported yoghurt worth 19 655 thousand US dollars, showing a sharp year-over-year decline of 42.9%. Over the 2017-2020 period, exports decreased by 33.9%, with an average annual reduction of 12.9%. The highest value was recorded in 2019 at 34 414 thousand US dollars, which also saw the largest increase at 21.3%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, the United States consistently held the largest share of yoghurt exports from Latin America and the Caribbean in value terms, making up 15.9% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports yoghurt to Latin America and the Caribbean

Imports in kind, t

Yoghurt imports into Latin America and the Caribbean declined for the third consecutive year. In 2020, imports totaled 15 174 tonnes, reflecting a steep 26.0% drop compared to 2019. Over the 2017-2020 period, imports decreased by 35.9%, with a compound annual growth rate (CAGR) of -13.8%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

During 2017-2020, the United States (49.5% of imports by volume), Spain (3.5%), and the Netherlands (2.3%) formed the main cluster of suppliers for yoghurt imports into Latin America and the Caribbean, together accounting for 55.4% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

In 2020, Latin America and the Caribbean imported yoghurt worth 43 498 thousand US dollars, indicating a sharp year-over-year contraction of 35.1%. From 2017 to 2020, imports decreased by 35.9%, with a CAGR of -13.8%. The largest increase was recorded in 2019 at 1.8%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

Between 2017 and 2020, the United States (57.0% of imports in value terms), Spain (3.5%), and the Netherlands (2.2%) were the key destinations in the geographical breakdown of yoghurt imports into Latin America and the Caribbean, with a combined share of 62.7% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020