BUSINESS

Popularity of Greek-style yogurt soaring

The market share of Greek-style yogurt sales in the US has shot up from just 1 percent in 2007 to 49 percent this year, according to a report by Bernstein Research. Greek consular authorities in Washington estimate total turnover in the US grew to $2.66 billion last year from just $35.4 million seven years before.

Fage, the Greek dairy manufacturers who pioneered the strained type of yogurt in the US, now face strong competition from companies such as Chobani, General Mills and Danone. The firm expects that an investment in Johnstown, New York, will expand its capacity from 85,000 tons to 160,000 tons annually by the end of September. It has also started producing for private label distributors.

According to data compiled by Nielsen, the turnover of Greek-style yogurt in the UK rose to 265.4 million euros last year from 150.7 million in 2011. After a two-year litigation in that country, FAGE obtained a court ruling forbidding Chobani from using the term “Greek yogurt.”

According to a survey by GfK, 7.23 million German households bought Greek-style yogurt between June 2012 and June 2013, up 37 percent from the year-earlier period.

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