Yogurt Global Market Analysis
description
Transcript of Yogurt Global Market Analysis
Delivering solutions, shaping the future.
Yogurt Global Market Analysis
March 23, 2012North America, Latin America,
Europe, Asia
Delivering solutions, shaping the future.
Yogurt Market Scope
The yogurt market includes spoonable yogurt, drinkable yogurt, Greek, and probiotic varieties
Delivering solutions, shaping the future.
Global Yogurt Continues to Grow
2011-16 absolute growth***4.1% and $16 Billion***
Global Retail Sales of Yogurt 2011-2016
4% 4.2% 4.4% 4.1% 4%
*Year on year growth
Delivering solutions, shaping the future.
Top Yogurt Markets Largest Consuming Yogurt Countries
Fastest Growing Yogurt Countries
Rank Country 2011-16 CAGR % Value 2011 Value ($Millions)
1 Japan 2.0% $ 7,890.4
2 USA 2.3% $ 7,605.7
3 China 10.2% $ 5,551.1
4 Brazil 10.5% $ 5,393.3
5 Germany 1.3% $ 3,517.0
Rank Country 2011-16 CAGR % Value 2011-16 Absolute ($Millions)
1 India 20.1% $
781.6
2 Egypt 13.7% $
248.6
3 Brazil 10.5% $
3,505.0
4 China 10.2% $
3,473.5
5 Colombia 8.7% $
268.0
Delivering solutions, shaping the future.
Global Trends
Eco-friendly packaging has become a standard in yogurt packaging. o 16 % of launches featured the environmentally friendly claim
Market witnessed a shift from traditional, spoonable products towards yogurt drinks
On-the-go marketability claims were pushed, especially for school age children, as a benefit of drinkable yogurt
There is a heightened demand for:o low/no/reduced fat, low/no/reduced sugar, organic, no additives/preservatives, all natural, and GMO
free products
U.S. consumers are willing to pay a premium price of ~$3.52 per 16 oz package on average for Greek yogurt
o It is a filling, high in protein, low fat and low carbohydrate food
Delivering solutions, shaping the future.
Yogurt-NA Industry Background-NA
o $9.9+ billion industry• 2011-16 CAGR % Value growth: 9.9%
o Greek yogurt share has grown to 13.2%o Over 50% of the market is dominated
by Danone, Groupe and Sodiaal SA
Major Marketers (Brands)o Danone, Groupe (Danone, Activia)o Sodiaal SA (Yoplait)o Private Label(Private Label)o Agro Farma Inc (Chobani)
Company $ Share
Delivering solutions, shaping the future.
Yogurt-NA
Packagingo Plastic cups sealed with an aluminum foil top is typical
o Set type packaging is when fruit is in the bottom of the cup and yogurt is on top
o Swiss type packaging is when fruit and yogurt are blended together
o FDA regulates the label• must indicate whether the yogurt has been ‘heat-treated’ or ‘active cultures’
o Drinkable styles are found in bottles
Delivering solutions, shaping the future.
Yogurt-NA
Packaging-NA
Danone, Groupe Sodiaal SA
Agro Farma IncPrivate Label
Plastic BottleFoil Seal closure
Graham Packaging$4.68 (12x3 10 fl oz)
Plastic Tubmulti laminate seal closure
Spartech Packaging$7.41 (16x3. 53 oz)
TubeFlexible packaging
Unknown company$7.55 (32x2. 25 oz)
Plastic TubFoil seal closure
Unknown company$0.98 (6oz)
Plastic TubFoil seal closure
Unknown company(6oz)
Plastic TubFoil seal closure
Unknown packaging company
$0.45 (6oz)
Delivering solutions, shaping the future.
Trends & Considerations-NA
Trends & Considerationso Yogurt and sour milk drinks increased by 9% in current value
terms to reach US$8.0 billion in 2011
o Americans are turning to yogurt as a nutritious breakfast or tasty snack
o Spoonable yogurt will continue to outperform drinking yogurt • drinking yogurt sales are expected to decline by 15% in 2011• Difficult to compete with fresh smoothies from places like Jamba Juice, etc.
Delivering solutions, shaping the future.
Trends & Considerationso Pro/pre biotic spoonable yogurt is expected to see the fastest
growth in 2011• 25% current value increase
o Unit prices of yogurt expected to increase slightly in 2011 due to an increase in milk prices
o Greek yogurt is gaining numerous fans (it is especially popular with health conscious women)• Seen as the best yogurt for weight loss• Appeals to consumers who enjoy thick, creamy texture• Being used as a substitute for sour cream and mayonnaise in cooking
Trends & Considerations-NA
Delivering solutions, shaping the future.
Yogurt-LA Industry Background-LA
o $10.2US+ billion industry • 2011-16 CAGR % Value growth: 15.8%
o Danone #1 Market share at 32.3%
Major Marketers-LAo Danone (Danone, Activia)o Nestle SA (Nestle, Chamyto)o Yakult Honsha (Yakult)o Alpina Productos (Alpina)
Company $ Share
Delivering solutions, shaping the future.
Yogurt- LA
Packagingo Yogurt is typically found in plastic cups and sealed with an
aluminum foil top
o Drinkable yogurt styles found in bottle
o Also available in Flexible Packages
Delivering solutions, shaping the future.
Baby Formula-Brazil Packaging
13
Danone
Brf Brasil Foods Alpina Productos
Nestle
Plastic TubFoil seal closure
$1.60 (5.3 oz)
Plastic Tub$0.54 (5.12 oz)
Plastic TubFoil seal closure$0.58 (3.88oz)
Plastic BottleFoil seal closure$0.44 (8.65oz)
Plastic Tub$0.94 (6.18 oz)
Plastic BottlePlastic cap closure
$1.13 (9.47 oz)
Plastic BottlePlastic cap closure
$3.30 (30 oz)
Delivering solutions, shaping the future.
Trends & Considerations-LA
Trends & Considerationso Vanilla yogurt is a natural accompaniment to fruit
dishes served in the morning
o Drinking yogurt posted stronger retail volume than spoonable in 2011• accounts for 65% of total value sales • consumers seem to prefer liquid versions
o Functional drinking yogurt is seen as healthy and convenient• Consumers in developing urban areas have increasingly busier lifestyles
14
Delivering solutions, shaping the future.
Yogurt – Europe Industry Background –
Europeo $28.6 billion industry
• CAGR % value growth for 2011-16
– EE: 9.8%– WE: 3.9%
o Largest markets: Germany, France, UK, Spain, and Italy
Major Marketers (Brands)o Danone (Danone, Activia,
Nutriday)o Private Label (Private Label)o Molkerei Alois Muller (Muller,
Froop)o Sodiaal SA (Yoplait)
Company $ Share
Delivering solutions, shaping the future.
Yogurt – Europe
Packagingo Yogurt found in plastic cups and
sealed with an aluminum foil top
o Drinkable yogurt styles found in bottle
o Occasionally found in glass jars
Delivering solutions, shaping the future.
Yogurt- Europe
Packaging – Europe
Danone Sodiaal
Molkerei Alois MullerPrivate Label
Plastic TubFoil seal closure
$1.65 (4x4 41 oz)
Plastic TubMulti laminate seal closure
$3.49 (4x4 24 oz)
Plastic TubPaper seal closure$2.48 (8X4 41 oz)
Plastic TubFoil seal closure
Optipack Packaging
$0.66 (5.3 oz)
Plastic BottleFoil seal closure
$2.40 (6x3 53 oz)
Plastic TubFoil seal closure
w/ plastic overcap
$0.52 (17.65 oz)
Delivering solutions, shaping the future.
Trends & Considerations-Europe
Trends & Considerationso Recession and current economy has reduced consumer
purchasing power and confidence• consumers moving away from branded to private label products.
o Fruited spoonable yogurt saw the strongest performance in value and volume growth in 2011
o Drinkable yogurt saw record sales in 2011• The popularity varies by country (less popular in France)
Source: Euromonitor 2010
Delivering solutions, shaping the future.
Trends & Considerations
Trends & Considerations
oIncreased consumption of products designed for on-the-go
oDanone designed first bio-mass based plastic container for Activia in Germany
Delivering solutions, shaping the future.
Yogurt – Asia Industry Background – Asia
o $17.7 billion industry• 2011-16 CAGR % value
growth: 9.6%o Private label only accounts for
0.7% of market
Major Marketers (Brands)o Yakult Honsha (Yakult)o Meiji Holdings (Bulgaria, LG21)o Morinaga & Co (Morinaga)o China Mengniu Dairy (Mengniu)
Company $ Share
52.1%
Delivering solutions, shaping the future.
Yogurt- Asia
Packagingo More variety in drinkable yogurt
packages• Found in plastic bottles, pouches, and
cardboard cartons
Delivering solutions, shaping the future.
Yogurt- Asia Packaging
Yakult Honsha
Morinaga & Co
Meiji Holdings
China Mengniu Dairy
Pouch$1.79 4.59 0z
Plastic Tub$1.22 (4.24
oz)
Plastic Bottle$0.58 (11.83 oz)
Plastic Lined Board Carton
$3.34 (3x3 38 oz)
Plastic Tub$1.93 (4x2 82 oz)
Delivering solutions, shaping the future.
Trends & Considerations-Asia
Trends & Considerations
o Yogurt tends to be less sweet and have more of a ‘dairy’ taste
o Tends to be more liquid than solid
o Asia presents huge opportunity for marketing yogurt as a healthy snack option • Rising incidence of life-style related health concerns such as diabetes and
obesity
o China represents the fastest growing regional market for yogurt, in terms of consumption (value and volume)
Delivering solutions, shaping the future.
Overall Trends and Considerations Trends and Considerations
o Marketers differentiate by focusing on health benefits, branding, and incorporation of ingredients (namely fruit)
o Households with children constitute the segment with potential growth opportunities
o Market is shifting in some countries from traditional, spoonable yogurts to drinkable varieties
o Probiotics total sales expected to grow with consumer awareness of health benefits
o Popularity of private label yogurts varies by country
Source: Euromonitor 2010
Delivering solutions, shaping the future.
Packaging Considerations and Opportunities Weaknesses of current packaging include:
o Must remember to pack a spoon when consuming traditional yogurt on-the-go
o The glass jars (sometimes found in Europe) are expensive, dangerous, and heavy
o Yogurts covered by foil only are a risk• Possibility of tampering with the seal and damaging the product
o Yogurt containers are labeled #5, but most curbside residential recycling programs only accept #1 & #2• Stoneyfield Farms will take containers back and recycle for customers
Delivering solutions, shaping the future.
Packaging Considerations and Opportunities
Opportunities to improve packaging include:
o Green packaging: Biopackaging materials (ie polylactate) are gaining popularity over PP and thermoformed cups• Polylactates offer advantages in preventing color changes, preventing formation of
hydroperoxides, and decrease in beta-carotene and riboflavin concentrations in the final product
o Emerging technologies such as high hydrostatic pressure (HHP) reduces fermentation time of yogurt milk
o Hinged lids for larger containers would add convenience
Delivering solutions, shaping the future.
Opportunities to improve packaging include:
o Innovative design changes that include spoon with the container • Similar to individualized ice cream
containers
o Pouches offer excellent visual appeal, portability, and are sustainable
o BAP technology to ensure freshness of the product and create an easier opening experience
Packaging Considerations and Opportunities
Delivering solutions, shaping the future.
Yogurt – Aptar Developments Aptar Developments
28
110mm Non-DispensingScoop n’ Lid
110mm DispensingScoop n’ Lid
o Features/Benefits• Convenient
• Attached spoon
• Hinged Closure• Prevents missing caps
Delivering solutions, shaping the future.
Yogurt – Aptar Developments
Aptar Developments
Valve captured between fitment and snaptop
overcap
o Features/Benefits
• Differentiating design
• Dispensing convenience
• Accurate product placement and cutoff
Delivering solutions, shaping the future.
Aptar Developments
Yogurt – Aptar Developments
Non-Choke
Elliptical spout
SimpliSqueeze
o Features/Benefits
• Differentiating design
• Dispensing convenience
• Accurate product placement and cutoff
• Child-safe
• Larger branding space
Delivering solutions, shaping the future.
Yogurt- Aptar Dairy Developments
2035 Frost Snap Top
SimpliSqueeze
2234 Snap TopSimpliSqueeze
Delivering solutions, shaping the future.
Yogurt- Aptar Dairy Developments
Custom Snap TopCustom Widemouth
Closure
Delivering solutions, shaping the future.
Custom Snap Top
SimpliSqueeze
Custom Snap Top
SimpliSqueeze
2-1/8’’ Snap Top
38-400 SimpliSqueeze Custom Snap
TopSimpliSqueeze
Delivering solutions, shaping the future.
Yogurt- Aptar Dairy Developments
54 mm Snap Top
33-400 SimpliSqueeze
Ribbed Pour Spout38-400
2-1/8’’ Snap Top33-400 Frost
Directional Pour Spout33-400
Delivering solutions, shaping the future.
Yogurt- Aptar Dairy Developments
Custom 44 mm Snap Top