Claims that the yogurt market is cooling off couldn’t be more wrong.
Data studying year-over-year growth rates has revealed that yogurt retail sales have been on the rise over the last year, despite recent claims that this market is cooling.
According to a report from Food Navigator USA, the growth rate in the yogurt industry is up from 4.6% in the last 52 weeks, to 6.1% in the last 26 weeks, and 9.2% in the last four. Greek yogurt, specifically, is a major driving force in the market, as it has been steadily gaining momentum throughout the year.
Food Navigator USA has revealed that Chobani is one brand that has gained significant market share and is continuing to grow. In the past four weeks alone, Chobani has been growing its market share to 19.4%. The company’s iconic “flip cup” yogurt has been a major driver over the past year, and it is planning to introduce a number of new products, and continue to grow in the coming year.