LONDON--(BUSINESS WIRE)--Technavio analysts forecast the Greek yogurt market in Europe to grow at a CAGR of close to 8% over the forecast period, according to their latest report.
The research study by Technavio on the Greek yogurt market in Europe for 2017-2021 provides a detailed industry analysis based on the product type (plain and low fat; and 0% fat or non-fat) and distribution channel (supermarkets, convenience stores, and food and specialty stores).
| The developments in the dairy industry have influenced the Greek yogurt market in Europe. Traditional dairy products have been reinvented and repositioned as health foods. Various demographics in the region have different choices for healthy products like yogurts (like full-fat yogurt, whole milk yogurt, and low-fat yogurt). Thus, the players in the market are currently trying to tap different demographics, leading to the fragmentation of the dairy industry. |
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Technavio analysts highlight the following three factors that are contributing to the growth of the Greek yogurt market in Europe:
- Nutritional benefits of Greek yogurt
- Increasing demand for gluten-free Greek yogurt
- Increasing usage of Greek yogurt for breakfast and snacking
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Nutritional benefits of Greek yogurt
“Greek yogurt is becoming increasingly popular among consumers because of its various nutritional benefits. It is rich in protein and has low sodium, carbohydrates, and lactose. Also, the riboflavin present in Greek yogurt provides an immunity boost to the consumers,” says Sharan Jagannath, a lead analyst at Technavio for food research.
Greek yogurt contains up to four times the amount of protein when compared to the protein in a cup of plain, low-fat conventional yogurt. This helps the consumers to feel full and content. Also, various consumer demographics are becoming much more conscious about the salt content in their diets, and thus, many of them have begun to prefer Greek yogurt to conventional yogurt as it has a full-bodied taste without the high sodium content.
Increasing demand for gluten-free Greek yogurt
The gluten-free food market in European countries is growing at a steady pace owing to an increase in the number of health-conscious people and a rise in the awareness of celiac diseases. Also, since there is no available cure for celiac disease, the only way to avoid it is to switch to a gluten-free diet.
Other factors like an increase in the number of digestive health problems, weight management issues, and the demand for nutritious food are increasing the demand for gluten-free food items. With an increase in the demand for gluten-free products, popular players like FAGE have introduced products like FAGE Fruyo, Fruyo Classic Coconut, and others, which are gluten-free.
Increasing usage of Greek yogurt for breakfast and snacking
“Greek yogurt is becoming a breakfast food and on-the-go snack for many consumers in the region owing to its thick texture and rich taste, its nutritional benefits, and the increasing demand for convenient and packaged food in Europe,” says Sharan.
The prominent reasons behind the growth in the demand for convenient and packaged foods like Greek yogurt include family restructuring, added time constraints, lack of culinary skills, and need for on-the-go snacking and food options. Players like Rachel's are currently selling Greek-style yogurt like Greek style yogurt with crunchy granola in small pots as an on-the-go healthy breakfast food.
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