The advent of Greek-style yogurt has opened a niche market, aiding industry growth
New York, NY (PRWEB) September 07, 2014
The Yogurt Production industry is composed of establishments that produce a variety of yogurt products, but does not include establishments that manufacture frozen yogurt. During the past five years rising disposable income and high health consciousness among consumers have stimulated demand and production of yogurt and yogurt related products. Indeed, while the production of most dairy products has stagnated or experienced marginal growth during the five-year period, yogurt production has increased. As a result of these trends, revenue for the Yogurt Production industry is expected to increase in the five years to 2014. Continued high demand for Greek-style yogurt, coupled with healthy disposable income levels is anticipated to push revenue up in 2014.
According to the IBISWorld Industry Analyst Lucas Isakowitz, “The advent of Greek-style yogurt during the past five years has opened a niche market in an otherwise saturated industry, aiding industry growth.” Since 2005 (as Chobani entered the industry), demand for Greek-style yogurt has increased at an astronomical rate. A substantial number of new yogurt producers have entered the industry during the past five years hoping to capture the rising demand for niche yogurt products, including Greek-style yogurt, organic blends or yogurt based shakes. Consequently, the number of industry enterprises is anticipated to increase at an annualized rate during the five years to 2014.
Continued economic recovery, rising disposable incomes and increased per capita consumption of yogurt are expected to support overall industry growth through 2019. “These economic improvements and positive eating habits will stimulate increased demand from grocery stores, supercenters and dairy wholesalers, all of which are major markets for this industry,” says Isakowitz. As a result, IBISWorld forecasts industry revenue will increase at an average annual rate in the five years to 2019. Despite increasing revenue, enterprise growth is expected to be somewhat subdued following the rapid entry of new players that occurred over the previous five years; consequently, the number of yogurt producers is anticipated to rise at an average annual rate in the five years to 2019.
For more information, visit IBISWorld’s Yogurt Production in the US industry report page.
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IBISWorld industry Report Key Topics
Operators in the Yogurt Production industry manufacture yogurt and yogurt drinks. This report excludes production of frozen yogurt (IBISWorld report 31152).
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
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Major Markets
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Market Share Concentration
Key Success Factors
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Major Companies
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Key Statistics
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Annual Change
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