Much like cheese, yoghurt and sour milk products is expected to record robust growth in current value terms in 2021, albeit at a slower rate than that seen in 2020. Retail volume growth is also likely to be slower as foodservice recovers some sales lost during lockdown when horeca establishments remained closed.
Danone Guatemala Ltd is expected to retain a healthy lead in yoghurt and sour milk products in 2021 with its well-known Danone, Oikos and Vitalinea brands. Oikos, which is protein-rich with a thick creamy texture that makes it ideal as a cooking ingredient, has benefited from the growing popularity of Greek yoghurt in Guatemala.
Although store-based retailing is expected to continue to represent all sales of yoghurt and sour milk products in Guatemala in 2021, independent small grocers is expected to gain ground as a result of more localised shopping habits during the pandemic. Forecourt retailers will also benefit from some return to on-the-go consumption as lockdown restrictions ease.
Over the forecast period, yoghurt may be hindered by increased competition from other snacking products, including soft drinks, which are considered viable alternatives by many consumers. The relatively high price and limited availability of yoghurt is likely to exacerbate this.
Despite facing challenges from snacking products and limited penetration of refrigerators in the country, nevertheless, many Guatemalans will continue to value yoghurt as a convenient and healthy breakfast or snacking option for children and office workers in the years ahead. The immune-boosting properties of live yoghurt may also prove popular in the wake of the COVID-19 pandemic as local consumers seek to improve their health and wellbeing.
Distribuidora Dos Pinos is expected to perform well in yoghurt and sour milk products over the forecast period thanks to its new production plant, which is set to expand the company's ability to penetrate dairy categories other than yoghurt, such as powder milk and ice cream. This development eliminated the supply issues that challenged imported brands, and Distribuidora Dos Pinos will seek to capitalise on this advantage in the coming years.
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This report originates from Passport, our Yoghurt and Sour Milk Drinks research and analysis database.
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