At 10.6% CAGR, the Europe Non-Dairy Yogurt Market is Projected to be Worth US$ 2,069.70 Million by 2030, Says Business Market Insights

According to Business Market Insights research, the Europe non-dairy yogurt market was valued at US$ 922.60 million in 2022 and is expected to reach US$ 2,069.70 million by 2030, registering a CAGR of 10.6% from 2022 to 2030. Strategic development initiatives by manufacturers and increasing prevalence of lactose intolerance are among the critical factors attributed to the Europe non-dairy yogurt market expansion.

Non-dairy yogurt manufacturers are making significant investments in product innovations to attract a large group of consumers. The manufacturers offer certified organic, non-GMO, gluten-free, clean-label, and allergen-free products to cater to emerging customer requirements. Moreover, as consumers have become health-conscious, they prefer low-calorie and low-fat products. Therefore, manufacturers of plant-based dairy offer unsweetened and low-sugar products. In February 2021, Halsa Foods launched zero-sugar oat milk yogurt in a 24 oz family size. The product contains only 90 calories per serving and has no added sugar.

Further, manufacturers are also launching products by incorporating different flavors and functional nutrients. In December 2020, Danone SA launched the Silk Kids Almond Milk Yogurt Alternative plant-based yogurts, specially formulated for kids. The product comprises fava beans protein, almond milk, live & active culture, and organic coconut oil. It is fortified with vitamin D and calcium to satisfy the children's nutrition. The yogurt substitute is dairy-free, lactose-free, gluten-free, and peanut-free. It is available in three flavors-apple cinnamon, strawberry, and mixed berry. Product innovation strategy offers a competitive edge to the players operating in the market and boosts their profitability, which propels the Europe non-dairy yogurt market growth.

On the contrary, higher prices of raw material hampers the growth Europe non-dairy yogurt market.

Based on source, the Europe non-dairy yogurt market is segmented into almond, soy, coconut, oat, and others. The coconut segment held 43.6% share of the Europe non-dairy yogurt market in 2022, amassing US$ 402.24 million. It is projected to garner US$ 900.79 million by 2030 to expand at 10.6% CAGR during 2022-2030.

Based on type, the Europe non-dairy yogurt market is bifurcated into flavored and plain. The flavored segment held 76.9% share of the Europe non-dairy yogurt market in 2022, amassing US$ 709.09 million. It is projected to garner US$ 1,617.35 million by 2030 to expand at 10.9% CAGR during 2022-2030.

Based on nature, the Europe non-dairy yogurt market is bifurcated into organic and conventional. The conventional segment held 60.6% share of Europe non-dairy yogurt market in 2022, amassing US$ 558.96 million. It is projected to garner US$ 1,198.19 million by 2030 to expand at 10.0% CAGR during 2022-2030.

Based on distribution channel, the Europe non-dairy yogurt market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held 48.3% share of Europe non-dairy yogurt market in 2022, amassing US$ 446.03 million. It is projected to garner US$ 937.19 million by 2030 to expand at 9.7% CAGR during 2022-2030.

Based on country, the Europe non-dairy yogurt market is categorized into Germany, France, UK, Italy, Russia, and the Rest of Europe. The Rest of Europe held 38.7% share of Europe non-dairy yogurt market in 2022, amassing US$ 357.42 million. It is projected to garner US$ 690.03 million by 2030 to expand at 8.6% CAGR during 2022-2030.

Key players operating in the Europe non-dairy yogurt market are The Hain Celestial Group Inc, Danone SA, Valio Ltd, Oatly Group AB, and Daiya Foods Inc, among others.

- In Aug 2021, Silk the well-known brand of Danone SA for plant-based products launched plant-based Greek yogurt. The yogurt alternatives feature a thick coconut milk base and contain 190 to 200 calories, 10 grams of protein, 9 to 12 grams of sugar and 11 grams of fat per serving. Flavors include vanilla, strawberry, lemon, and blueberry.

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