Greek Yoghurt Market - by Flavor (Plain, Strawberry, Blueberry, Raspberry), Specialty Diet (Fat Free, Cholesterol Free, Low Fat), Distribution Channel (Hypermarket and Supermarkets), Application (Dips, Desserts) and Region- Forecast to 2022
pune, India -- (SBWIRE) -- 04/16/2018 -- Market Overview:
Owing to growing consumer needs and their awareness about Greek yogurt the demand for products prepared from Greek yogurt has grown in recent years.
Geek yogurt offers some extra benefits when compared to conventional yogurt. Absence of whey content gives the yoghurt a unique taste. Additionally, presence of high protein and sodium content, along with enriched with low sugar content has uplifted the demand for Greek yogurt globally. Also, Greek yogurt is enriched with various nutrients, which offer diverse range of products. Greek yogurt comes in various types such as plain, flavored, and others. Also, Greek yogurt is available with a spectrum of varieties such as gluten-free, lactose-free, low-fat, low-calories, and others. Gluten-free Greek yogurt, are preferred by the consumers because of various health benefits.
The rise in disposable income, along with a change in eating habits of the consumers, is expected to drive the growth of this market. The increase in awareness of the health benefits of the Greek yogurt is also a key driver of this market. The increase in demand from the developing economies due to involvement of organized sector will also provide boost to the industry's growth.
Increasing consumer's awareness through advertisements has lately boosted up the sales of the product across the globe. Health conscious consumers are found to have more inclination towards Greek yogurt based on the health advantages obtained from it. Additionally, growing demand for diverse flavored yogurt with low calories is supporting the sale of Greek yogurt on a global level. Increasing awareness about the drawbacks of consuming high-calorie desserts is also adding fuel to the rising sale of Greek yogurt.
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Latest Industry Updates:
Jun 2017 Chobani has launched its first non-Greek yogurt line called Smooth. The low-fat yogurt is made with real fruit and only natural, non-GMO ingredients. The company is focusing more towards new product launch.
Mar 2017 Danone India Pvt. Ltd, the local unit of the world's largest yogurt maker, has introduced its brand of Greek yogurt, its third product launch. The company aims to expand its range of products and market share in India.
Feb 2017 FlapJacked, maker of high-protein pancakes and muffins, has launched its latest product line: smoothie mixes. FlapJacked protein smoothie mix has become the first high-protein smoothie mix with a shelf-stable Greek yogurt base.
Jan 2016 Booster Juice has launched a new product offering nationally known as vanilla Greek yogurt with three fresh fruit topping combinations including, mango passion fruit, mixed berry and banana coconut, available in different locations across Canada.
The competition among the players seems severe with the growing demand for Greek yogurt across the globe. Players are found to indulge in various strategies to increase the sale of their product globally. Major strategies followed by the competitors are identified to be product promotions through various channels such as e-commerce platforms including celebrity endorsements. Product innovations and fortification with essential nutrients are also identified to be the key strategies followed by the players to introduce product differentiation and make their offerings in Greek yogurt line stand out from others.
The key players profiled in Greek Yogurt are Nestle (Switzerland), Danone (France), Chobani (U.S.), Jalna Dairy Foods Pty Ltd. (Australia), General Mills, Inc. (U.S.), Stonyfield Farm, Inc. (U.S.), FAGE International S.A. (Loxembourg), and Erhmann AG (Germany) among many others.
The global Greek yogurt market has been divided into type, claim, distribution channel, and region.
On the Basis of Type: Flavored, and Plain
On the Basis of Claim: Fat-free, Cholesterol-free, Low Fat, Low Sodium, Sugar-free, and Others
On the Basis of Distribution Channel: Store-based and Non-store based
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
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Greek Yogurt Market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the market followed by Europe. The U.S. is the major contributor for Greek yogurt products in the North American market. Inclination towards new yogurt products among the consumers is driving the Greek yogurt market in the Europe. Furthermore, Asia Pacific is witnessed to be the fastest growing region over the forecast period. Increasing health awareness in developing countries like India and China is boosting the growth of Asia Pacific market.