Melbourne, Australia (PRWEB) July 06, 2013
In the five years through 2013-14, revenue for the Yoghurt Production industry is forecast to be moderate to strong. Strong per capita consumption and relatively stable final prices contributed to estimated annualised revenue growth of 3.0% to $541.7 million. This includes estimated growth of 3.4% in 2013-14. IBISWorld industry analyst Alen Allday states, “industry growth has been driven by the development of new flavours, probiotic yoghurts and strong branding by leading companies.” The market has become more segmented over the past five years, with more companies producing a wider range of yoghurt products and flavours to reach more consumers. There has also been an increase in the number of small, specialised manufacturers producing premium, niche yoghurts. Some consumers are willing to pay higher prices for specialised and high-end yoghurts, such as organic and yoghurt made from sheep and goat's milk.
There is a perception that yoghurt is a healthy and low-GI snack option, which has contributed to steady consumption levels and industry growth. These characteristics make yoghurt particularly popular for females aged over 18 years, which is the main consumer market for yoghurt. According to Allday, “concerns regarding the level of added sugar and artificial flavours and additives in many popular reduced-fat yoghurts have resulted in consumers reassessing the nutritional and health benefits of yoghurt.”
Market share concentration for the Yoghurt Production industry is medium with major players including Lion Pty Ltd, Fonterra Co-operative Group and Parmalat Australia Ltd. Over the past five years there has been an increase in consolidation as major companies like Lion and Fonterra increase acquisitions. Many of the iconic brands held by the major players, such as Ski, Yoplait and Nestle, have maintained a market share through product development and customer loyalty. New brands such as Five AM and Chobani have recently entered the Yoghurt Production industry and have been successful in implementing new product ranges that meet consumer requirements. Growth is expected in farmhouse production, niche yoghurts and speciality producers, including soy yoghurt. Product diversification and an emphasis on the health benefits of the various types and styles of yoghurt are expected to keep market share concentration at a medium level. The preference of many consumers for premium products will also aid this. Although at a relatively low level of production at current, IBISWorld expects that major supermarket private-label yoghurts will continue to grow. For more information, visit IBISWorld’s Yoghurt Production report in Australia industry page.
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IBISWorld Industry Report Key Topics
Businesses in this industry produce yoghurt and yoghurt drinks. The industry excludes frozen yoghurt products.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
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