Greek yogurt also known as strained yogurt is made using an extra step or process that drains out excess water and lactose, resulting into a rich, creamy and nutrient-packed yogurt. Greek yogurt contains less sugar, higher protein as compared to regular yogurt. Satisfying customer need for health, taste and convenience, Greek yogurt is being increasingly used in bakery products, health drinks, etc.
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High in calcium, potassium, and probiotics, Greek yogurt is being consumed on a large scale as a substitute for sour cream, mayonnaise, cream cheese and butter. Although consumers prefer the plain, fat-free and low-fat version of Greek yogurt, manufacturers are experimenting with new flavors, while still offering clean label and healthy ingredient. Manufacturers are also focusing on producing dried Greek yogurt powder to expand its application in other products such as soups, sauces, smoothies, protein shakes, etc., thereby offering an opportunity to various food and beverage manufacturers to add Greek yogurt to their products, and eliminating the risk of handling fresh yogurt products.
According to a study by Fact.MR, the global market for Greek yogurt is estimated to reach US$ 7,618.4 million revenues by the end of 2022. The market is expected to witness a healthy growth due to the increasing consumption of Greek yogurt packed with probiotics which fights various health issues and boost the immune system. Manufacturers of Greek yogurt have started focusing on using various techniques and methods to increase the shelf life of the product and minimizing the risk of contamination.
Spoonable Greek Yogurt- Highly Preferred Product
Compared to the drinkable Greek Yogurt, spoonable Greek yogurt is expected to emerge as one of the most preferred Greek yogurt product. Spoonable Greek yogurt is expected to witness impressive growth, surpassing US$ 5,500 million revenue by the end of 2022. Meanwhile, drinkable Greek yogurt is projected to create an incremental opportunity of over US$ 600 million during the forecast period, 2017-2022.
Greek Yogurt in Cups and Tubs to Gain Maximum Revenue Share
Greek yogurt in cups and tubs is projected to account for more than two-third revenue share by the end of 2017. Cups and tubs Greek yogurt packages are estimated to reach nearly US$ 5,000 million revenue by 2022 end. Meanwhile, Greek yogurt in bottles is also expected to experience robust growth during the forecast period.
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High Sales through Modern Trade
Accounting for more than two-fifth of the revenue share by the end of 2017, modern trade is expected to emerge as one of the most lucrative sales channels in the Greek yogurt market. Modern trade is projected to create an incremental opportunity of more than US$ 900 million during 2017-2022.
Conventional Greek Yogurt to Witness Robust Growth
Conventional Greek yogurt is estimated to reach nearly US$ 5,200 million value by 2022 end. Experiencing impressive growth, conventional Greek yogurt is projected to account for more than two-third of the revenue share by the end of 2017.
The report provides detailed profile of the companies that are expected to remain active in the expansion of global Greek yogurt market through 2022, which include General Mills, Inc., Danone, Nestlé S.A., Cabot Corporation, The Hain Celestial Group, Inc., Trader Joe's Company, Chobani, LLC, FAGE International S.A., Wallaby Yogurt Company, Inc., and Vivartia Holding S.A.
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