Dublin, June 12, 2024 (GLOBE NEWSWIRE) — The “Europe Non-Dairy Yogurt Market Forecast to 2030 – Regional Analysis – by Source, Type, Nature, and Distribution Channel” report has been added to ResearchAndMarkets.com’s offering.
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; it is estimated to grow at a CAGR of 10.6% from 2022 to 2030.
Rising Adoption of Organic Products Fuels the Europe Non-Dairy Yogurt Market
Organic and natural products are gaining popularity owing to their perceived health benefits. Consumers are highly concerned about their health and wellness, and they pay more attention to ingredients used in processed products. They are willing to pay high prices for products that are free of synthetic ingredients. Further, greater access to infinite information through the internet has made consumers increasingly aware of their health needs, which triggers the demand for organic products. The inclination of people toward organic products has encouraged manufacturers to invest heavily in products produced with organic constituents. Consumers prefer products made with natural and ethically sourced ingredients due to a focus on holistic and conscious food consumption. Increasing demand for organically sourced products would create lucrative opportunities for the Europe non-dairy yogurt market during the forecast period.
Europe Non-Dairy Yogurt Market Overview
The non-dairy yogurt market in Europe is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The considerable demand for plant-based dairy products due to increasing health consciousness and the trend of veganism has made Europe a significant market. Consumers prefer lactose-free foods because of several health benefits, such as the antioxidant properties of dairy alternatives-such as dairy-free yogurt. According to”The Smart Protein Project report,” the sales value of plant-based food in Germany grew by 97% during 2018-2020, while the sales volume increased by 80%. Moreover, consumers are highly inclined toward plant-based dairy products due to rising awareness of animal welfare.
The popularity of plant-based dairy products is increasing in Europe due to the shift in consumer demand from animal protein to plant protein. This inclination toward plant-based dairy products is associated with different factors, such as sustainability issues, health awareness, ethical or religious views, environmental concerns, and animal rights. According to the World Health Organization (WHO), consuming natural fats and proteins, such as coconut and soy, can offer several health benefits, including a healthy gut.
The rising consumers inclination toward plant-based dairy products has encouraged manufacturers to adopt growth strategies such as product development and expansion of their businesses to meet elevating demands of consumers. In 2020, Danone, a France-based company, launched its dairy-free yogurt drink range to create a smooth and creamy texture without dairy and to accelerate its push into the dairy-free market. This launch aimed to provide plant-based dairy products to vegan consumers. This strategy also helped the company to expand its product line and business dimensions globally. Thus, due to all the aforementioned factors, the demand for non-dairy yogurt is expected to grow in Europe during the forecast period.
Europe Non-Dairy Yogurt Market Segmentation
The Europe non-dairy yogurt market is segmented based on source, type, nature, and distribution channel.
- Based on source, the Europe non-dairy yogurt market is segmented into almond, soy, coconut, oat, and others. The coconut segment held the largest share in 2022.
- Based on type, the Europe non-dairy yogurt market is bifurcated into flavored and plain. The flavored segment held a larger share in 2022.
- Based on nature, the Europe non-dairy yogurt market is bifurcated into organic and conventional. The conventional segment held a larger share in 2022.
- 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 the largest share in 2022.
- 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 dominated the Europe non-dairy yogurt market in 2022.
The Hain Celestial Group Inc, Danone SA, Valio Ltd, Oatly Group AB, and Daiya Foods Inc are some of the leading companies operating in the Europe non-dairy yogurt market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 84 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value in 2022 | 922.6 Million |
| Forecasted Market Value by 2030 | 2069.7 Million |
| Compound Annual Growth Rate | 10.6% |
| Regions Covered | Europe |
For more information about this report visit https://www.researchandmarkets.com/r/c1coq6
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- European Non-Dairy Yogurt Market
