The Greek yogurt market is estimated to be close to 100,000 tons in volume and 200 million euros in value, according to Eurobank Equities, leading to intensified competition domestically.
Homemade-family type yogurt dominates with a 60% share, while traditional yogurt holds about 10%. Private labels (PL) are gaining traction, seeing significant sales growth irrespective of yogurt category. In 2020, PL yogurt sales volume accounted for 27.4% of the total market, rising to 35.3% by 2023.
A Competition Commission study from February 1, 2022, to February 1, 2023, highlights a growing preference for private label yogurts, which saw their market share increase from 36.3% to 41.9% within the year.
Serres-based “Kri Kri” dominates by producing most private label yogurts for supermarket chains, holding shares of 22.9% and 35.3% in family and traditional types, respectively, surpassing former leader “FAGE” until 2022.
The Competition Commission reports 71 yogurt suppliers in supermarkets. The largest market share in sales (by value), regardless of whether they are branded or private label products, is held by Kri Kri, followed by FAGE and Greek Dairy Company, with remaining companies holding a small market share, between 0-5%.
Despite internal competition, major players aim to strengthen their international presence. It’s no coincidence that Greek yogurt exports nearly tripled from 2014 to 2020, with a significant growth rate of 188.25% and an average annual rate of 20.54%.
Source: tovima.com
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