USD 31.55 Billion
Global Greek Yogurt Market Size, Share, Growth Analysis, By Product Type(regular Greek yogurt, and flavored Greek yogurt), By Distribution channel(retail stores, online retail platforms), By End user(food and beverage, healthcare and dietary supplement) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2272 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|
Tables:
89 |
Figures:
76
Global Greek Yogurt Market Insights
Global Greek Yogurt Market size was valued at USD 31.55 Billion in 2022 and is poised to grow from USD 33.92 Billion in 2023 to USD 60.49 Billion by 2031, at a CAGR of 7.50% during the forecast period (2024-2031).
The Global Greek Yogurt Market is a dynamic and thriving industry that has captivated the taste buds of consumers worldwide. Greek yogurt, known for its rich, creamy texture and tangy flavor, has gained immense popularity and has become a staple in the diets of health-conscious individuals. It is a strained yogurt variant that offers numerous health benefits, making it a preferred choice among fitness enthusiasts and those seeking a nutritious snack or breakfast option. The purpose of the Greek yogurt market is to cater to the evolving preferences and demands of consumers who are seeking healthier and indulgent food choices. Greek yogurt stands out from regular yogurt due to its unique manufacturing process, which involves removing the whey, resulting in a thicker and more protein-rich product. This distinctive characteristic has positioned Greek yogurt as a versatile ingredient in a variety of dishes, including desserts, smoothies, dips, and dressings. The market serves the purpose of providing consumers with a nutritious and delicious alternative to traditional yogurt and other snack options. The Greek yogurt market is driven by several factors that contribute to its steady growth. Firstly, the rising health consciousness among consumers, coupled with an increasing focus on protein intake, has propelled the demand for Greek yogurt. With its higher protein content compared to regular yogurt, Greek yogurt aligns with the growing desire for healthier food choices. Additionally, the versatility of Greek yogurt in various culinary end users has boosted its demand in both households and the food service industry.
However, the market does face certain restraints. One of the main challenges is the premium pricing of Greek yogurt compared to regular yogurt, which may limit its accessibility for price-sensitive consumers. Furthermore, the production process of Greek yogurt requires more milk, leading to higher manufacturing costs. These factors can pose a hindrance to market growth, particularly in price-sensitive regions or during economic downturns. The Greek yogurt market is witnessing key trends that are shaping its future trajectory. Firstly, there is a growing emphasis on product innovation and diversification, with manufacturers introducing a wide range of flavors, blends, and packaging formats to cater to varying consumer preferences. Additionally, there is a rising demand for Greek yogurt with lower sugar content and enhanced functional properties, such as probiotics and added nutrients. Opportunities in the market are abundant, driven by the increasing penetration of Greek yogurt in emerging economies and untapped markets. As awareness regarding the health benefits of Greek yogurt spreads, manufacturers have an opportunity to tap into new consumer segments and expand their market presence. Furthermore, collaborations and partnerships with retailers, food service providers, and health-conscious influencers can further boost market growth by increasing product visibility and reaching a wider audience.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Regular Greek Yogurt
Fastest Growth
Regular Greek Yogurt
Growth Rate
7.50% CAGR
Global Greek Yogurt Market ($ Bn)
Country Share for North America Region (%)
Global Greek Yogurt Market By Product Type ($ Bn)
Global Greek Yogurt Market By Product Type (%)
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Global Greek Yogurt Market Segmental Analysis
Global Greek Yogurt Market is segmented on the basis of product type, distribution channel, end user, and region. By product type, the market is segmented into regular Greek yogurt, and flavored Greek yogurt. By distribution channel, the market is segmented into retail stores, online retail platforms, and e-commerce channels. By end user, the market is segmented into food and beverage, healthcare and dietary supplement, and food service. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Greek Yogurt Market Analysis By Product Type
The largest segment in the Greek yogurt market is regular Greek yogurt. Regular Greek yogurt holds a dominant position due to its widespread popularity and versatility. With its creamy texture and tangy taste, regular Greek yogurt has become a staple in the diets of health-conscious consumers worldwide. It is appreciated for its high protein content, low carbohydrate content, and probiotic properties, making it an ideal choice for individuals seeking a nutritious and satisfying snack or breakfast option. The regular Greek yogurt segment is experiencing substantial demand and accounts for a significant portion of the overall market share. Its growing adoption can be attributed to the increasing consumer inclination towards healthier food choices and the rising awareness about the benefits of Greek yogurt.
The fastest-growing segment in the Greek yogurt market is flavored Greek yogurt. Flavored Greek yogurt has gained tremendous traction in recent years, appealing to consumers who desire both the health benefits of Greek yogurt and a wide array of indulgent flavors. This segment offers a delightful experience with an assortment of options such as fruity, dessert-inspired, and exotic flavors, catering to diverse consumer preferences. The flavored Greek yogurt segment is witnessing remarkable growth due to the continuous introduction of innovative and enticing flavor combinations by market players. The availability of options like strawberry, blueberry, honey, vanilla, and more has expanded the consumer base, attracting those seeking a flavorful twist to their yogurt experience.
Greek Yogurt Market Analysis By Distribution Channel
The largest segment in the Greek yogurt market is retail stores. Retail stores, including supermarkets, hypermarkets, and convenience stores, have long been the primary destination for consumers seeking their favorite Greek yogurt brands. These brick-and-mortar establishments offer a tangible shopping experience, allowing customers to browse through a wide variety of Greek yogurt options and make informed purchasing decisions. The convenience of immediate product availability and the ability to physically examine the packaging and freshness of the product contribute to the dominance of retail stores in the market. The retail stores segment accounts for a significant market share due to its widespread presence across various regions, catering to the diverse demands of consumers. As Greek yogurt continues to gain popularity as a healthy and delicious snack option, retail stores serve as convenient hubs for consumers to access their preferred brands. With an extensive distribution network and strategic placement within communities, retail stores remain the largest distribution channel in the Greek yogurt market.
On the other hand, the fastest-growing segment in the Greek yogurt market is online retail platforms. In recent years, there has been a significant surge in online shopping, driven by the convenience, accessibility, and wide range of product choices offered by e-commerce platforms. The Greek yogurt market has also witnessed a rapid shift towards online retail channels, as consumers increasingly opt for the convenience of doorstep delivery and the ability to explore and compare various brands and flavors from the comfort of their homes. The online retail platforms segment is experiencing exponential growth, fueled by the global digital transformation and the rising popularity of e-commerce. With the advancement of technology and secure online payment systems, consumers are embracing the convenience of ordering Greek yogurt online. This trend is further accelerated by the proliferation of mobile devices and the ease of mobile shopping.
Global Greek Yogurt Market By Product Type, 2023 (%)
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Global Greek Yogurt Market Regional Insights
The dominating region in the global Greek yogurt market in North America. North America has witnessed a phenomenal rise in the consumption of Greek yogurt over the years, establishing itself as the epicenter of this creamy delight. The region's love affair with Greek yogurt can be attributed to its numerous health benefits, rich and creamy texture, and versatile nature. North America's dominance in the Greek yogurt market is backed by robust consumer demand, an extensive distribution network, and a highly developed food industry infrastructure. The region boasts a large population of health-conscious individuals who appreciate Greek yogurt's high protein content, low sugar content, and probiotic properties.
On the other hand, the fastest-growing region in the global Greek yogurt market is Asia Pacific. While Greek yogurt is relatively new to the region, it is quickly gaining traction among health-conscious consumers who seek nutritious and delicious dairy options. Rapid urbanization, changing lifestyles, and increasing disposable incomes in countries like China, India, and Japan are fueling the demand for Greek yogurt in the region. Asia Pacific offers immense growth potential for Greek yogurt manufacturers, as they capitalize on the region's rising health awareness and evolving taste preferences. With a growing population and a shift towards healthier dietary choices, the region presents a lucrative opportunity for Greek yogurt producers to expand their market share.
Global Greek Yogurt Market By Geography, 2024-2031
- Largest
- Fastest
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Global Greek Yogurt Market Dynamics
Greek Yogurt Market Drivers
Increasing consumer recognition of its health benefits
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One of the primary drivers behind the growth of the Greek yogurt market is the inherent health benefits it offers. Greek yogurt has gained increasing popularity among consumers due to its diverse nutritional advantages compared to regular yogurt. The current surge in demand for protein-rich products is a notable trend, as these items are known to provide a sense of fullness, stabilize blood sugar levels, and promote the development of lean muscle, ultimately facilitating fat loss.
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Consequently, the consumption of Greek yogurt is anticipated to experience rapid growth, given its higher protein content relative to conventional yogurt. Additionally, numerous studies have highlighted that Greek yogurt contains reduced levels of lactose. This reduction is attributed to the multiple straining processes involved in its production, which removes whey and imparts a distinctive creamy texture while significantly reducing lactose content. Consequently, Greek yogurt stands as a preferable choice for individuals seeking lower lactose content in their dietary choices.
Influenced by shifting consumer preferences toward healthier and nutrient-rich food products
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The Greek Yogurt Market is significantly influenced by shifting consumer preferences toward healthier and nutrient-rich food products, coupled with a heightened awareness of health among consumers. Greek yogurt's popularity has surged due to increasing demand for fat-free and weight-management products, particularly in the United States, Mexico, Canada, and other regions, where it is used in meal preparation and enjoyed as a sweet snack when paired with fruits. Within the food and beverage industry, Greek yogurt is frequently employed as a substitute for ingredients like butter, cream cheese, sour cream, and in the creation of smoothies and creams.
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Furthermore, the market's growth is propelled by the introduction of Greek yogurt made from natural and organic ingredients, aligning with consumer preferences for gluten-free, chemical-free, and natural food sources. Other factors, such as urbanization, a growing middle-class population, and the rapid expansion of online sales, contribute to the overall increase in revenue within the Greek yogurt market.
Greek Yogurt Market Restraints
Price Sensitivity
- One of the key restraints in the Greek yogurt market is price sensitivity among consumers. Greek yogurt is often priced at a premium compared to regular yogurt or other dairy products due to its specialized production process and higher protein content. This higher price point may deter price-sensitive consumers, particularly in price-sensitive markets or during economic downturns. Manufacturers need to balance pricing strategies to cater to a wider consumer base while maintaining profitability.
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Global Greek Yogurt Market Competitive Landscape
The global Greek yogurt market is highly competitive, with numerous players vying for market share and consumer loyalty. Key market players in this segment have established themselves as leaders in the Greek yogurt market through their strong brand presence, extensive distribution networks, and continuous product innovation. To stay competitive, market players are focusing on product differentiation and expanding their product portfolios to cater to evolving consumer preferences. They are introducing new flavors, incorporating natural and organic ingredients, and launching healthier variants with reduced fat and sugar content. Additionally, manufacturers are investing in marketing and advertising campaigns to create brand awareness and promote the benefits of Greek yogurts, such as its high protein content and probiotic properties. Strategic partnerships and collaborations are also common in the Greek yogurt market, with companies forming alliances to expand their geographic reach and tap into new consumer segments. Furthermore, mergers and acquisitions are prevalent as companies seek to enhance their market position and leverage synergies in manufacturing, distribution, and R&D capabilities.
Greek Yogurt Market Top Player’s Company Profile
- Chobani LLC (US)
- FAGE International S.A. (Greece)
- General Mills Inc. (US)
- Danone S.A. (France)
- Müller Group (Germany)
- Nestlé S.A. (Switzerland)
- Arla Foods amba (Denmark)
- Yoplait (US)
- Stonyfield Farm Inc. (US)
- The Hain Celestial Group Inc. (US)
- Glenisk Ltd. (Ireland)
- Alpina Productos Alimenticios S.A. (Colombia)
- The Greek Gods Yogurt (US)
- Noosa Yoghurt LLC (US)
- Liberté Inc. (Canada)
- Fábrica de Licores y Alimentos de Antioquia (Colombia)
- Yili Group (China)
- Yakult Honsha Co. Ltd. (Japan)
- Arla Foods Ltd. (UK)
- The Collective Dairy (UK)
Greek Yogurt Market Recent Developments
- In November 2022, TWO GOOD, a prominent player in the food and beverage industry, introduced a cultured, on-the-go dairy drink crafted from natural fruit puree, completely devoid of artificial sugars. The company offers three varieties of these new smoothies, including peach, strawberry-banana, and mixed berry.
- In July 2022, CP-Meiji introduced an exciting addition to their product lineup with the launch of an innovative spoonable yogurt in Thailand. This orange-flavored yogurt is uniquely infused with nata de coco, providing a delightful combination of citrus flavor and a chewy coconut jelly texture. It offers consumers a refreshing and indulgent yogurt experience that is both delicious and satisfying. The new yogurt can be found in various retail locations, including 7-Eleven, offering convenient access to Thai consumers seeking a unique and enjoyable yogurt option.
- In February 2022, Starbucks the renowned coffee giant in South Korea, introduced a novel yogurt beverage known as Pine Coco Green Yogurt Blended, marking its first use of vegan yogurt in a drink. The company intends to expand the presence of its plant-based offerings to approximately 1,500 locations across South Korea.
Global Greek Yogurt Key Market Trends
- Flavor Innovation and Product Diversification: Flavor innovation and product diversification are key trends driving the Greek yogurt market. Manufacturers are constantly introducing new and exciting flavors to attract consumers and cater to their preferences. For example, brands are launching Greek yogurt variants with exotic fruit flavors, indulgent dessert-inspired flavors, or savory options like herbs and spices. This trend enhances the consumer experience, promotes product experimentation, and expands the consumer base.
Global Greek Yogurt Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The Global Greek Yogurt Market is experiencing robust growth and is poised for further expansion in the coming years. The market is being driven by several factors, including the growing awareness among consumers regarding the health benefits associated with Greek yogurt, such as high protein content, probiotic properties, and lower sugar content compared to traditional yogurt. Additionally, the rising popularity of Greek yogurt as a versatile ingredient in various culinary end users, including desserts, smoothies, and savory dishes, is further fueling market growth. Furthermore, the increasing demand for Greek yogurt in emerging economies, along with the introduction of innovative flavors and product variations by key market players, is expected to propel the market even further. Overall, the global Greek yogurt market is witnessing a positive trajectory and is likely to witness substantial growth in the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 31.55 Billion |
| Market size value in 2031 | USD 60.49 Billion |
| Growth Rate | 7.50% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Greek Yogurt Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Greek Yogurt Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Greek Yogurt Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Greek Yogurt Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Greek Yogurt Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Greek Yogurt Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Greek Yogurt Market Report Snapshots
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