Like many of its rivals, French food group Danone has looked to emerging markets in recent years to offset a somber environment back home. But when it comes to yogurt, there is one emerging market that stands out from the usual suspects: the US.
The company lowered full-year targets amid the fallout from a recall of baby milk products in Asia. But in the US, Danone is redoubling efforts to increase its share of a market that has been consistently growing at more than 8 percent a year ? rates that most people would typically associate with consumption patterns in India, China or one of the world?s other high-growth economies.
?It is what we call one of the growth markets,? says Pierre-Andre Terisse, Danone?s Chief Financial Officer. ?For us, it has all the characteristics of an emerging market.?
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