There is a self-employed business sector that has shown remarkable growth even amid the economic downturn: yogurt specialty shops. Over the past two years, sales have increased by more than 2.5 times, and some brands have recorded explosive growth rates exceeding 2,100%. Analysts attribute this rapid expansion of the yogurt market to a shift in dairy consumption patterns from milk to fermented dairy products, combined with rising dessert demand, particularly among women in their 20s.

According to the financial sector on July 28, NH Nonghyup Bank recently released an analysis of "NH Members Hanaro Mart Dairy Product Consumption Data (8.4 million members, 203 million transactions)" and "Nonghyup Card Yogurt Specialty Store Payment Data (400,000 people, 770,000 transactions)" from 2022 to last year. The results show that total sales at yogurt-related stores rose by 256% last year compared to 2022. When setting 2022 sales as 100, sales reached 141 in 2023 and 356 last year.

원본보기 아이콘

By store, the yogurt ice cream specialty brand Yoajeong (short for Yogurt Ice Cream Jeongseok) showed particularly strong growth. Yoajeong accounted for 9 out of 100 in total sales in 2022, 16 in 2023, and soared to 198 last year, representing a 2,100% increase compared to 2022. Yogurt World accounted for 62 last year, Yogurt Purple for 9, and restaurants with "Greek" or "Yogurt" in their names recorded 80 in 2022, 101 in 2023, and 87 last year. The number of yogurt-related stores also increased from 600 in 2022 to 986 last year, with Yoajeong accounting for the largest share, growing from 129 to 573 locations during the same period.

Yoajung. Instagram

원본보기 아이콘

Yoajung. Instagram

원본보기 아이콘

The survey found that women in their 20s are the biggest consumers of yogurt. Looking at last year's yogurt shop customer demographics, those in their 20s accounted for 36%, the largest share. This was followed by those in their 30s (17%), 40s (17%), and 50s (16%), while those under 10 and over 60 each accounted for 7%. In terms of gender, women made up 67% of yogurt consumers, consuming yogurt 2.09 times more than men (32%). For Yoajeong and Yogurt World, sales surged during the hot summer (August). In particular, Yoajeong's sales in August last year increased by 2,138% compared to January of the same year.

Examining consumption patterns by brand, NH Nonghyup Bank explained that Yoajeong and Yogurt World have a high proportion of transactions after 8 p.m., indicating strong demand for after-meal desserts. The average customer spend was highest at Yoajeong (16,600 won), followed by Yogurt World (13,000 won), Greek Yogurt (11,800 won), and Yogurt Purple (11,000 won).

원본보기 아이콘

This growth in yogurt shop sales appears to be linked to increased consumption of fermented dairy products. Looking at the consumption data of 8.4 million people who purchased dairy products at Hanaro Mart from 2022 to last year, the total number of dairy product purchases last year decreased by 2% compared to 2022. In particular, the percentage of customers who bought milk more than twice a month dropped from 49% in 2022 to 47% last year, a decrease of 2 percentage points, and the number of purchases also fell by 20% during the same period. In contrast, purchases of fermented dairy products increased by 44%, and the number of transactions for fermented dairy products, unlike other categories (milk, processed milk, butter and cheese), has been steadily rising since 2022.

Fermented milk products are also frequently added to customers' shopping carts. Looking at the 'cart share,' which is the number of receipts containing a specific product category divided by the total number of receipts at Hanaro Mart, fermented milk accounted for 10% of all shopping carts.

The most frequently added item to shopping carts was tofu, followed by milk in second place, and fermented milk in fourth place. Among fermented milk products, Greek yogurt has shown remarkable growth over the past two years, with a 130% increase in product variety and a 186% increase in payment amount.

원본보기 아이콘

Meanwhile, NH Nonghyup Bank analyzed that dairy consumption trends are changing. Last year, spending on low-fat milk decreased by 36% compared to 2022, but functional milk (such as easy-to-digest milk and protein milk) grew by 250%. NH Nonghyup Bank explained, "The trend in dairy consumption is shifting from 'lightness' to 'comfort,'" and added, "There is a growing preference for products that are high in protein and can help address lactose intolerance."