The country’s largest producer added $700 million to its market capitalisation this year, as new high-protein and low-sugar products send sales soaring.
Already a subscriber?Bega, one of the country’s largest dairy producers, has ridden a boom in demand for healthier and high-protein yoghurts to add $700 million to its market capitalisation in the past nine months, returning to levels last seen more than two years ago.
Bega, which is the biggest producer of yoghurt with brands including Farmers Union, Dairy Farmers and Yoplait, said industry-wide yoghurt sales grew 11 per cent to $1.92 billion. That easily outstrips fresh milk, where sales industry-wide rose 2 per cent to $2.15 billion. Coles says customers are also buying larger tubs of yoghurt – as family budgets are squeezed by higher mortgage payments – and single serves. “The biggest growth we are seeing in this space is larger tubs and yoghurt pouches, as customers prioritise convenience and look for ways to stretch their budgets,” a Coles spokeswoman said.Bega has capitalised on the growing demand for yoghurt, adding a new production line at its Morwell plant in Victoria for “no sugar” pouches for children.
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