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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