It seems to be on everyone's lips these days: Greek yogurt, almost unknown to consumers four years ago, now represents more than 13% of yogurt sales. And no one expects a downturn of this trend in the near future.
Innovate with old recipes
Greek yogurt is not a newcomer on the market. It is strained through cheesecloth to produce a thicker, creamy yogurt, that is richer in protein than “regular” yogurt. With 0% fat in its most popular form, it becomes an interesting source of protein with minimum caloric intake.
The key to success: the right benefits for the right target
Chobani, an American yogurt manufacturer, has become a leader in the Greek yogurt market segment in the U.S. by building its marketing strategy around the main benefits of its product. Chobani had to make them known to the target market of women with a higher income and education level than average, for whom healthy eating is a priority. It is the same client segment that made Whole Foods, Starbucks and Lululemon a success. The company distributed a very large number of free samples in places frequently visited by consumers (gym, targeted supermarkets), while putting forward the following benefits:
- · Better health: it’s good for you and it’s creamy.
- · Greek yogurt’s important protein intake acts as a filler, which makes it a more healthy and effective snack;
- · Can be used as an effective meal replacement with its high protein intake and its low-fat.
Customers are willing to sacrifice taste, to pay twice as much for Greek yogurt than for regular yogurt and to buy larger formats to take advantage of these benefits.
Greek yogurt conquering new markets
Greek yogurt will continue its ascension due to the strong growth potential of geographic markets like Canada, the American Midwest, South and West, while consolidating its position in the Northeast. Furthermore, the following market segments may be the next targets for growth:
- · The “breakfast” segment, where Greek yogurt could replace cereals as the number one breakfast choice for the female target market;
- · The "children" segment, still underdeveloped. This segment shows great potential, but only if the product put to market as an interesting taste for children along with fun packaging. The health benefits must also be highlighted to parents who buy the product for their children.
You are interested in manufacturing Greek yogurt? Contact the Fromagex sales team
Matthieu Frégault, Fromagex
Sources: UBS Investment Research, The Globe and Mail, Agro - Media.fr