Packaged Facts: Greek yogurt sales jumped more than 50% in 2012
ROCKVILLE, Md. — According to a recent analysis by Packaged Facts, a MarketResearch.com division, U.S. retail sales of yogurt will approach $9.3 billion by 2017, up from $7.3 billion in 2012, with Greek yogurt brands being the major catalyst for these significant increases.
According to the report, "The Yogurt Market and Yogurt Innovation: Greek Yogurt and Beyond," in the U.S., retail dollar sales of Greek yogurt increased more than 50% in 2012 to reach $1.6 billion, with significant gains in the mass-market as well as natural and specialty retail channels. At the same time, non-Greek yogurt saw its sales decrease. According to David Sprinkle, publisher of Packaged Facts, “Greek yogurt has raised its share of the refrigerated yogurt market to 35%, up from only 1% in 2007.”
The report notes this sales pace isn’t likely to continue forever, but still sees significant opportunities for suppliers and retailers to capture some of the increased market share. For instance, Packaged Facts notes, "Even with its recent market growth, yogurt continues to be consumed at a much lower per capita rate in the U.S. than in other countries where yogurt is a staple. Moreover, yogurt is spreading beyond the breakfast daypart, reflecting the ‘breakfast-all-day’ culinary and menu trend."
This is maybe best exemplified in the flurry of frozen yogurt shops that have popped up over recent years and more shelf space given to frozen yogurt brands in the freezer aisle. The report notes private label frozen yogurt brands rank number one with consumers. And in the refrigerated yogurt market, private label is sitting at number two overall. The popularity of these products is likely the reason suppliers are opening the doors to their own yogurt shops, like the Chobani Yogurt Bar in the SoHo neighborhood in New York City.
The versatility of yogurt also bodes well for the continued success of the products in the marketplace. According to Packaged Facts, "innovative marketers are driving the yogurt and especially Greek yogurt bandwagon into other food categories. Yogurt’s popularity and ‘healthy halo’ have propelled a spill-over over into product categories such as smoothies, frozen yogurt and novelties, cream cheese and butter, salad dressings, dips and spreads, and granola bars, among others."
Like this story? Find us on Facebook for more insight, analysis and the latest in drug store news. Join the conversation.
No comments found
Goya Foods, Beech-Nut Nutrition to make baby food for Hispanic families
AMSTERDAM, N.Y. — Beech-Nut Nutrition and Goya Foods have made a deal to produce baby foods for Hispanic families, Beech-Nut announced.
"One-fourth of all births in America today are to Hispanics, so that any company hoping to grow their business must take their needs and tastes into account," Beech-Nut president Jeff Boutelle said.
The companies said the partnership was part of Goya’s commitment to the Obama administration’s My Plate/Mi Plato nutritional initiative. The new Beech-Nut/Goya line will include 22 specially developed Latin flavors and combinations, including guava, mango, apple-mango, banana-strawberry, rice pudding with raisins and others. The line is expected to hit stores throughout the country by the end of June.
"The Beech-Nut/Goya line of baby food offers mom the best of both worlds," Goya president Bob Unanue said. "Hispanic moms, influenced by their abuelitas, oftentimes believe that healthy, traditional baby food can only be made at home using fresh ingredients. Their challenge is that they simply don’t have the time to cook from scratch the way their grandmothers did, and that’s where Beech-Nut/Goya comes in. Our new line of baby food is the perfect union that bridges Hispanic mothers’ desire for healthy, traditional baby food with their need for convenience and nutrition in today’s hectic world."
No comments found
Joint venture formed to promote healthy eating among corporate employees
BOSTON — Digital coupon service SavingStar and employee benefits provider Edenred have started a joint venture to promote healthy eating among corporate employees, the companies said Friday.
The two announced the creation of NutriSavings, which they said would provide employees with more information about the nutritional quality of their grocery purchases and incentives for healthy products, such as e-coupons, thereby helping consumers make more informed buying decisions while shopping for food. The companies said select grocery retailers would partner with NutriSavings to help employees monitor and improve their household nutrition consumption.
"We have created an innovative solution in the fast-growing market for health-and-wellness solutions that encourages employees to consume a more balanced diet and contributes to efforts to reduce healthcare spending on chronic illnesses," Edenred USA managing director Gerard Bridi said.
According to a study last year by the National Business Group on Health, businesses in the United States are spending more money on programs to promote better nutrition and exercise, and nearly 90% have set up incentive programs today, spending an average of $520 per employee each year.
Under the program, employees who join NutriSavings set objectives with their companies to improve the nutritional quality of their food purchases and receive a score. They then receive incentives from employers and e-coupon savings on nutritionally balanced products, as well as access to educational materials.
This is good news for all the employees! Eating the right kinds of food will definitely help in preventing sickness. Health is more important than wealth we should know how to take care of our body because we only have one.