The rise of Greek yogurt has been simply extraordinary by packaged-food standards, as General Mills Inc. has learned the hard way.
Sales and market share of its popular Yoplait brand have fallen sharply as General Mills was late to the Greek party and failed to make a major dent in the category. With Greek now commanding around 40 percent of the overall yogurt market — up from 2 percent six years ago — it almost seems too late for General Mills.
But the Golden Valley-based firm says don’t bet on it, and some analysts agree. General Mills scored its first Greek success this past year with Greek 100, a low-calorie offering that’s been one of Yoplait’s best product launches. And now, General Mills is coming out with an entirely new traditional Greek offering, replacing its earlier, well, flop.
Unlike Yoplait’s past Greek offering, its new Greek yogurt is “strained” in order to build its rich character, a more traditional method preferred by consumers. Flavors are new, packaging is new and marketing — which barely existed before — is new, too.
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