The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Greek Yogurt. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Greek Yogurt Market across various industries and regions.
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The worldwide Greek yogurt market is expected to be valued at US$ 4.18 Bn in 2021, further expected to reach US$ 12 Bn by 2031. Overall, the industry is expected to expand almost 3x throughout the 2021-2031 forecast period. Preference for organic Greek yogurt will remain prominent, capturing a revenue share worth 45%.
|Market Size Value in 2021||US$ 4.18 Bn|
|Projected Market Forecast Value by 2031||US$ 12 Bn|
|Global Growth Rate (2021 to 2031)||11.1% CAGR|
|Market Share of Europe||24.3%|
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Greek Yogurt market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Greek Yogurt
This newly published and insightful report sheds light on Market Insights of Greek Yogurt, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Greek Yogurt Market.
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Key Segments Covered
- Spoonable Greek Yogurt
- Drinkable Greek Yogurt
- Greek Yogurt in Cups & Tubs
- Greek Yogurt in Bottles
- Greek Yogurt in Other Package Types
- Greek Yogurt Sales via Modern Trade
- Greek Yogurt Sales via Specialty Stores
- Greek Yogurt Sales via Convenience Stores
- Greek Yogurt Sales via Online Retailers
- Greek Yogurt Sales via Other Sales Channels
- Conventional Greek Yogurt
- Organic Greek Yogurt
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Greek Yogurt Market – Competitive Landscape
- In February 2019, Danone North America announced to expand its largest production facility in DuBois, Pennsylvania to increase the production of plant-based foods, including yogurt, to meet the growing consumer demand.
- In January 2019, General Mills’ Fiber One launched ‘Fiber One Strawberries’ and ‘Vanilla Clusters’ to expand its cereal portfolio. The new variety aims to delight consumer looking for new fiber-rich option in the cereal section that will help improve their fiber intake.
- In August 2018, Chobani, a leading player in the Greek yogurt market, released a new Savor line of products as alternatives to traditional condiments and sour cream which can be directly squeezed onto any dish. The new line of products includes two different varieties: one made with low-fat milk and the other with whole milk.
Other leading players in the Greek yogurt market include
- FAGE USA Dairy Industry
- Wallaby Yogurt Company Inc.
- The Hain Celestial Group Inc.
- Vivartia Holding S.A
- Trader Joe’s
- Nestle SA
According to the latest report by Fact.MR, the global Greek yogurt market is expected to witness robust growth, registering 7.6% CAGR during 2017-2022. Considered as a healthier substitute for regular yogurt, Greek yogurt is high in protein, hence the demand for Greek yogurt is increasing. Manufacturers are also offering a variety of flavors to enhance the taste and are also mixing low-sugar, high-fiber cereal to make the Greek yogurt more filling and high in nutrients. Following are the few insights on the future of the global Greek yogurt market.
6 Forecast Highlights on Global Greek Yogurt Market
- North America is expected to dominate the global market for Greek yogurt during the forecast period, 2017-2022. Towards the end of 2022, the North America Greek yogurt market is projected to reach close to US$ 2,800 million revenues.
- Europe is expected to be the second-largest market for Greek yogurt. Owing to the increasing use of Greek yogurt as a substitute for cream cheese, butter, and sour cream has increased its application in different food products, emerging as one of the factors driving the Greek yogurt market in Europe.
- Spoonable Greek yogurt is estimated to bring in nearly US$ 5,600 million revenue towards the end of 2022. The spoonable Greek yogurt is projected to account for nearly three-fourth of the revenue share by the end of 2017.
- Compared to bottled Greek yogurt, the Greek yogurt available in cups and tubs is expected to be highly preferred by consumers. Greek yogurt in cups and tubs is estimated to account for nearly three-fifth of the revenue share by 2017 end.
- Sales of Greek yogurt through modern trade is expected to witness impressive growth. Towards the end of 2022, Modern trade is projected to reach close to US$ 3,400 million value. Meanwhile, speciality stores are also expected to experience robust growth during the forecast period, 2017-2022.
- Conventional Greek yogurt is estimated to account for more than two-third of the revenue share by the end of 2017. The conventional Greek yogurt is projected to create an incremental opportunity of over US$ 1,500 million during 2017-2022.
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More Valuable Insights on Greek Yogurt Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Greek Yogurt, Sales and Demand of Greek Yogurt, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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