Greek Style Yogurt Innovation Report 2014

zenithinternational 2014 Greek Style Yogurt Innovation A review of recent key trends and new product development

November 2014

Research Note In undertaking its research for this report, Zenith has utilised its internal data library and global databases, alongside other third party sources and interviews with the industry. Throughout its on-going research, Zenith also depends upon the goodwill and co-operation of operators active in the marketplace and, as such, seeks to achieve a high level of accuracy.

Liability This document contains information and may contain conclusions and recommendations. Every effort has been made to ensure that the information is accurate and that the opinions expressed are sound. However, Zenith International Ltd cannot be made liable for any errors or omissions or for any losses or consequential losses resulting from decisions based on the information.

Important notice on distribution This report should not be quoted, referred to or transmitted to another party, in whole or in part, without the prior written consent of Zenith International Ltd. Should you desire to release a copy of this report to another party for information purposes, we request you and the requesting party to indemnify Zenith International from any liability related to the report distribution. Such readers however will not be considered “users� of this report.

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CONTENTS

Section The contacts at Zenith International in connection with this report are: Arunkumar Anbalagan Market Analyst Zenith International Ltd., UK

Page

1. Introduction and scope

4

2. Category overview

7

 Commentary: Global trends and development  Commentary: Greek style yogurt innovation

Tel: +44 1225 327925 aanbalagan@zenithinternational.com Esther Renfrew Market Intelligence Director Zenith International Ltd., UK Tel: +44 1225 327900 er@zenithinternational.com Zenith International Ltd 7 Kingsmead Square Bath BA1 2AB United Kingdom T +44 (0) 1225 327900 F +44 (0) 1225 327901 www.zenithinternational.com

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 Commentary: Challenges and opportunities 3. Brand profiles

14

3.1 Brand profiles: Low-calorie

15

3.2 Brand profiles: Line extension

24

3.3 Brand Profiles: Limited edition

32

3.4 Brand Profiles: New brand entrant

34

3.5 Brand profiles: For children

42

3.6 Brand profiles: Indulgent

46

3.7 Brand profiles: Organic

49

3.8 Brand profiles: Packaging innovation

55

3.9 Brand profiles: Drinkable yogurt

60

3.10 Brand profiles: Cross-category innovation

64

3.11 Brand profiles: Frozen

79

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zenithinternational 1. Introduction and scope

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INTRODUCTION AND SCOPE Greek style yogurt innovation

Overview The aim of this report is to assess developments in the Greek style yogurt/ strained yogurt sector, identifying and summarising trends and new innovations in order to understand what opportunities exist for new product development. In this report, we will use the term `Greek style yogurt` to include both strained and Greek yogurt products and without regard to the ingredients used.

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Scope A global market overview of trends and developments - tracking recent innovation within the category and investigating the future outlook for the market. This report also features brand profiles of leading and innovative Greek style yogurt products worldwide to use for benchmarking purposes.

Products profiled in this report contain features that span a number of trends shaping the future of the Greek style yogurt sector, including:  Product functionality: in particular relating to health  On-the-go formats and recipes  Innovative ingredients: for health and/or taste  Extension into new eating occasions: snacking, desserts, breakfast etc.  Convenient packaging solutions  Cross-category innovation: taking the benefits of Greek style yogurt into new categories

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INTRODUCTION AND SCOPE Greek style yogurt innovation Definition: Greek style yogurt For the purpose of this report, Zenith has limited its research scope using the following definition:  Greek style yogurt - yogurt which has been triple strained to remove the whey and moisture to create a consistency of sour cream.

Some products have added cultures and ingredients such as L.bulgaricus and S.thermophiles, cereals, fruits and vegetables.  Greek style yogurt dips and dressings – often with either water or vinegar added to Greek yogurt. Again some products have added cultures and ingredients to generate alternative variants.  Products which are full-fat, low-fat, non-fat, organic are included as are ambient, fresh, frozen, standard, whipped and drinkable formats.

Coverage Innovation and new product development shaping the global market for Greek style yogurt launched from January 2012-October 2014.

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zenithinternational 2. Category overview

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CATEGORY OVERVIEW Commentary: Global trends and developments  Commentary…

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CATEGORY OVERVIEW Commentary: Global trends and developments (cont.)  Commentary…

Protein %

Fat%

Full-fat Greek style yogurt Low-fat Greek style yogurt Non-fat Greek style yogurt

Drinkable Greek style yogurt Frozen Greek style yogurt

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CATEGORY OVERVIEW Commentary: Greek style yogurt innovation Innovation in Greek style yogurt comes under the following categories:

Type

Description

Low-calorie

Line extension

Limited edition

New brand entrant

For children

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CATEGORY OVERVIEW Commentary: Greek style yogurt innovation (cont.)

Innovation in Greek style yogurt comes under the following categories:

Type

Description

Indulgent Organic

Packaging innovation

Drinkable yogurt

Cross category innovation

Frozen

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CATEGORY OVERVIEW Commentary: Greek style yogurt innovation (cont.)

 Commentary…

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CATEGORY OVERVIEW Commentary: Challenges and opportunities Challenges  Commentary…

Opportunities

 Commentary…

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zenithinternational 3. Brand profiles

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zenithinternational 3. Brand profiles

3.1 Low-calorie

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LOW-CALORIE Low-fat and non-fat

Light & Fit Dannon, USA www.lightandfit.com Product information: Dannon has launched Light & Fit Greek style yogurt in both lowfat and non-fat ranges. The non-fat range has 80 calories per 5.3oz serving, 0% fat and twice the protein of regular low-fat yogurt. The low-fat range has 45 or 50 calories per 113g and 85% less sugar than regular low-fat yogurt.

Launch date: 2012-2013 Variants: Low-fat: Strawberry and Cream, Vanilla and Cream. Non-fat: Banana Cream, Blackberry, Blueberry, Caramel, Cherry, Key Lime, Peach, Pineapple, Pomegranate, Raspberry, Strawberry, Coconut and Vanilla Ingredients: Cultured grade A non-fat milk, water, fructose, less than 1% modified corn starch, fruit puree and active yogurt cultures. Additional cream in the low-fat range Positioning: Teenagers and adults Channels: Retail Pack size & type: Low-fat: 113g plastic cup in 4-pack. Non-fat: 150g and 170g plastic cup and in 4-pack. 225g plastic cup Price: US$6.45 per 4-pack

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zenithinternational 3. Brand profiles

3.2 Line extension

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zenithinternational 3. Brand profiles

3.3 Limited edition

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zenithinternational 3. Brand profiles

3.4 New brand entrant

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zenithinternational 3. Brand profiles

3.5 For children

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zenithinternational 3. Brand profiles

3.6 Indulgent

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zenithinternational 3. Brand profiles

3.7 Organic

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zenithinternational 3. Brand profiles

3.8 Packaging innovation

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zenithinternational 3. Brand profiles

3.9 Drinkable yogurt

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zenithinternational 3. Brand profiles

3.10 Cross-category innovation

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zenithinternational 3. Brand profiles

3.11 Frozen

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