Dairy Market Trends: Yogurt Sales Pace Quickens, Cottage Cheese Shrinks
A little more than a year ago, growth in the yogurt, and subsequently the overall cultured products category was losing steam. Quarterly growth, which had been in double digits in 2002, dropped to around 2-3% by the middle of 2003. Chalk it up to the low-carb diet craze if you will, but yogurt weathered the storm. Sales are growing again and the pace has quickened.
According to data from Information Resources Inc., cup yogurt sales have grown at a faster pace in each of the last three quarters with dollar sales up nearly 7% and unit sales up more than 9% in the most recent period ended June 26. Meanwhile, the fast-paced sub-category of yogurt drinks is showing some signs of maturing, and cottage cheese remains sluggish.