As Greece sinks daily deeper into financial crisis, a humble staple of the Greek diet has become a billion-dollar business in North America.
Greek yogurt is flying off supermarket shelves in Canada after conquering the U.S. market. The high-protein content, natural ingredients and creamy taste have made it a hit with consumers in a health-conscious culture.
Canadian producers have doubled and tripled facilities to meet increasing demand and grocery retailers have experienced temporary shortages, leaving consumers scrambling for the latest holy grail of a healthy diet.
Chobani, the American company founded by an immigrant Turk that made Greek yogurt a phenomenon in the U.S., has entered the Canadian market with Loblaws and plans to go national in the fall. Existing yogurt manufacturers have jumped on the bandwagon, debuting new lines of Greek yogurt products to compete.
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