PepsiCo set to enter US yogurt market
NEW YORK - Agence France-Presse
This photo shows a store in Chicago. PepsiCo plans sell European products in US. REUTERS Photo
Global drinks and snacks giant PepsiCo said July 9 it will enter the fast-growing U.S. yogurt market this month, teaming up with a German dairy company to introduce premium European products.
PepsiCo, the U.S. maker of Pepsi-Cola, Frito-Lay chips and Quaker Oaks granola bars, announced a joint venture with Theo Mueller Group, the largest privately held dairy business in Germany.
The yogurt roll-out marks the first time either company has offered dairy products in the world’s largest economy.
The U.S. yogurt market is booming, with brands and types proliferating in store dairy aisles as part of growing consumer demand for natural foods.
PepsiCo said the “spoonable” U.S. yogurt market was projected to grow to $9.0 billion in 2016, from $5.7 billion in 2011.
“As we’ve seen through the success of our dairy business in other parts of the world, this is a category with strong growth prospects,” said Mehmood Khan, PepsiCo’s chief scientific officer, global research & development.
“Mueller makes some of Europe’s most delicious and unique dairy products, and there is no better partner PepsiCo could have in order to meet historic U.S. consumer demand for premium yogurt.” Khan said the new brand line will offer US consumers a range of products, including Greek-style yogurt, that “are unlike anything on the market currently.”
The venture, Mueller Quaker Dairy, is set to enter the premium yogurt sector in mid-July in the Northeast and middle-Atlantic states.
Mueller Corner and Muller Greek Corner varieties will include Blueberry, Honeyed Apricot, Crispy Crunch and Choco Balls.