xcpretty is a fast and flexible formatter for xcodebuild. It does one thing, and it should do it well.
xcpretty is designed to be piped with xcodebuild and thus keeping 100% compatibility with it. It's even a bit faster than xcodebuild only, since it saves your terminal some prints.
Important: If you're running xcpretty on a CI like Travis or Jenkins, you may want to exit with same status code as xcodebuild. CI uses the status code to determine if build has failed.