Specialty Food Magazine

MAY-JUN 2013

Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.

Issue link: https://specialtyfoodmagazine.epubxp.com/i/123797

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Page 77 of 103

RESEARCH SPOTLIGHT The New Yogurt Culture Walk down any dairy aisle and you'll be struck by the ever-growing yogurt selection, from Greek-style and kefir to drinkable varieties. With consumers eagerly choosing yogurt for its healthful properties, versatility, good flavor and convenience, this powerhouse product translates to liquid gold on the shelves. BY DENISE SHOUKAS A PHOTO: BIGSTOCK merican consumers have cultivated a passion for yogurt in its many incarnations, from spoonable Greek to drinkable children's varieties. And while the growth of other snack categories was stunted during the recession, yogurt has continued to grow and sees a bright future as a favorite better-for-you snack, with sales forecasted to reach $9.4 billion by 2017. Sales are expected to increase steadily each year between 2013 and 2017, at a rate of 5.4 percent to 7.3 percent per year (before adjusting for inflation), driven largely by strong demand for Greek yogurts and lowfat options, as well as by products with kid-friendly packaging. Current retail sales of yogurt, including frozen products and yogurt drinks, reached nearly $6.4 billion in 2011 and an estimated nearly $7 billion in 2012. While demand for Greek yogurt will remain strong, growth in this key subcategory will slow as the market reaches saturation. Mintel defines the category with the following segments: spoonable yogurt sold in cups or tubes, Greek-style yogurt, refrigerated, liquid yogurt drinks (including smoothies), kefir and frozen yogurt. MAY/JUNE 2013 75

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