Greek Yogurt Market to Grow at a Steady Rate During Forecast Period
Growing adoption of greek yogurt in bakery products and
health drinks to drive the growth of global greek yogurt market
According
to TechSci Research report, “Global Greek
Yogurt Market By Flavor (Unflavored, Vanilla, Strawberry, Blueberry, Raspberry,
Blends, Others), By Category (Organic, Conventional), By Distribution Channel (Supermarket/Hypermarket,
Convenience Store/Grocery Store, Online, Others), By Region, Forecast &
Opportunities, 2025”, the global greek yogurt market
is expected to grow at a steady rate during the forecast period on account of its
increasing demand due to the product being rich in protein, probiotics, vitamins,
minerals and calcium, which is resulting in increased consumption of greek
yogurt in various countries. Greek yogurt is also used for the production of many
sauces and can be used as a substitute product for sour cream, cream cheese and
butter. While making greek yogurt, much of the lactose is removed from the greek
yogurt, hence greek yogurt is beneficial for the people who suffer from lactose
intolerance. Availability of greek yogurt in various flavors is also boosting
its demand in market. Greek yogurt is also available in low-fat and non-fat variants,
which is also driving its market. Hence, increasing health-conscious population
across the globe is a major factor for growth of greek yogurt market.
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The global greek yogurt market is segmented based on flavor, category,
distribution channel, company and region. Based on flavor, strawberry, blends
and vanilla flavors hold the dominant share in the market. Based on category, conventional
greek yogurt is high in demand as it is much healthier than organic. Based on distribution
channel, supermarket/hypermarket accounted for the dominant share in 2019 due
to plethora of options to choose from. However, online segment is expected to
grow at the highest CAGR during the forecast period which can be attributed to
the high internet and smartphone penetration coupled with increase in purchase
of products online.
Chobani LLC, Danone S.A., Nestle S.A., Stonyfield Farm Inc., FAGE USA
Dairy Industry Inc., General Mills, Inc., Byrne Hallow Farm, Inc., Jalna Dairy
Foods Pty. Ltd., Erhmann AG, Sun Valley Dairy CO are some of the leading
players operating in global greek yogurt market. The companies operating in the
market are using organic strategies such as product developments and launches,
to boost their share in the market. Introduction of gluten free, low fat
varieties, and flavored variants which cater to specific consumers exemplifies
product development as a frequently used strategy used by the producers.
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“Europe is expected to dominate the greek
yogurt market during the forecast period as most of the consumers have a strong
inclination towards healthy living, hence they prefer low-fat greek yogurt.
There is high demand for probiotic food among consumers nowadays. North America
is expected to witness significant growth until 2025. Cases of obesity and
overweight have increased in North America, thereby increasing demand for low
fat food and yogurt among consumers, which is driving the growth for greek yogurt
in the region. Rising product awareness and growth of retail sector in the
region is further responsible for the demand of product in various countries.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Greek Yogurt Market By Flavor (Unflavored,
Vanilla, Strawberry, Blueberry, Raspberry, Blends, Others), By Category (Organic,
Conventional), By Distribution Channel (Supermarket/Hypermarket, Convenience Store/Grocery
Store, Online, Others), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global greek
yogurt market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global greek yogurt market.
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