The Europe drinkable yogurt market is forecasted to grow at a CAGR of 3.5% during the forecast period (2020-2025).
- The market is mainly driven by the rising demand for probiotic foods and healthier snacking food products among health-conscious consumers including both adults and children. Also, recent launches of formulated functional products with new flavors have further fueled the global market, such as drinkable yogurt fortified with omega 3, collagen, aloe vera, plant sterols, and soy isoflavones.
- Furthermore, the region’s growing population has strongly contributed to the growth of dairy-free yogurts and the number of flavor combinations available in the yogurt market, such as coconut, cranberry, pineapple, strawberry, and others, are also accelerating the market for flavored dairy-free yogurts at a faster pace.
- The distribution channels, primarily online channels, which holds the major share, followed by supermarkets/hypermarkets are offering a wide range of new varieties of yogurts from Icelandic to coconut-based yogurts, which, in turn, is capturing the taste pallets and nutritional requirements of the consumers, under different age groups.
Key Market Trends
Rising Demand of Non-Dairy Based Yogurt
As an increasing number of Europeans are ascribing to vegan diets and are constantly seeking for dairy alternatives with innovative flavors, the number of flavored dairy-free yogurts, as well as drinkable yogurts, such as almond, coconut, soy, cashews, pea yogurt, and others have taken a significant share in supermarket shelves. The active companies in the country are particularly focusing on expanding their plant-based yogurt portfolio to broaden their consumer base in the country. The yogurt market in the country is flooded with new flavor innovation, with varieties ranging from low in sugar to high in decadence, catering to the specific nutritional and flavor requirements of consumers under different age groups.
Online Stores Sales to drive The regional Market
The countries of Europe such as the United Kingdom, Germany, Italy, and France remains the world’s largest markets where consumers buy groceries online. The sales are escalating due to lesser prices through online channels. Thus, Vmartgo, an online store, offers many outsourced and foreign products, including yogurt drinks from Asian countries, at cheaper prices than the local variants. Most online suppliers in the region provide same-day doorstep and self-pickup delivery options for yogurt products. Consumers consider online grocery stores as a good option to avoid the hassle of traditional grocery shopping and standing in a queue before check-out. Some major platforms in the country include Walmart, Amazon Pantry, and Costco.
The Europe drinkable yogurt market is competitive and fragmented in nature owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the regional market include Benecol, Cie Gervais Danone, Esteson Corporation, and Tesco.com among others.
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