The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreDec 2015
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Since the big Greek-style yoghurt boom, consumers have been bombarded with new variants of so-called “origin yoghurt”, as brands try to piggyback on Greek yoghurt’s success. By examining the success factors of Greek-style yoghurt, alongside current new product launches in yoghurt, this briefing considers what could be the next Greek yoghurt, and where future growth lies.
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Greek yoghurt has met consumer demand for a natural product that has undergone little processing and is a healthy addition to the diet. It has become extremely popular with those looking to maintain or lose weight, or lead a healthy lifestyle. Greek-style yoghurts are perceived to be naturally high in protein and indulgent at the same time. However, growth in Greek yoghurt has slowed down since 2014, and manufacturers are trying to find the next “big thing” in yoghurt.
Whilst yoghurt is increasingly positioned as a snack, In Europe, consumers will spend proportionally less on yoghurt in 2020 compared to other snacking foods. In particular, sweet and savoury snacks are outperforming all other snack categories. This is due to new product launches focusing on health and indulgence, such as seaweed crisps that are easily consumed on the go and do not require refrigeration.
Skyr (fromage frais) and kefir (sour milk drinks) have very low consumption levels compared to yoghurt and drinking milk. Both could provide an alternative to yoghurt and can be the next “Big Greek”, as they offer excitement to the dairy aisle and tick three unique selling points proven successful in the past: origin, heritage and nutrition.
Whilst Europe has the highest per capita consumption of yoghurt, new yoghurt sales will come from other regions. In fact by 2020, Chinese consumers will buy more yoghurt than the average British consumer at 8.3kg (retail volume) which will have more than tripled from the consumption levels measured in 2010.
Ambient yoghurt has seen rapid growth in China, as it allows for further penetration in tier three and four cities that lack a developed cold chain infrastructure. This is likely to continue to drive yoghurt sales beyond China and Asia Pacific.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.