The Europe yogurt market is expected to grow at a CAGR of 3.2% during the forecast period to reach a value of USD 34 billion by 2022. The increasing awareness of health benefits of yogurt acts as a catalyst to the growth of this market. Yogurt consumption is growing rapidly in high-income countries like Germany and France; wherein, low-sugar yogurts are gaining popularity. Indulgence is the main reason that is increasing yogurt consumption, by almost 35%.
The demand for yogurt has been increasing from consumers aged above 50 years. This is due to the increasing awareness of the health benefits of yogurt, which is rich in calcium and protein. Some of the health benefits of yogurt include boosting the immune system, combating diarrhea and constipation, etc. The increasing availability of flavored yogurt is also a driver of this market. A rise in the cost of production poses a threat to the market. Also, the fat content in yogurt results in health concerns related to obesity.
The Europe yogurt market is segmented on the basis of product type into regular yogurt and fat-free yogurt. The increasing awareness regarding the consumption of healthy food supports the growth of the fat-free yogurt market. By form, the market demand is classified into set yogurt, yogurt drinks, Greek yogurt and frozen yogurt. Set yogurt is more popular than the others and contributes a higher revenue. The yogurt drinks and frozen yogurt segments are further segmented into regular and flavored.
The Europe yogurt market is also segmented by the distribution channel into super markets/hyper markets, convenience stores, grocery stores, online and others.
The Europe yogurt market has been geographically segmented into Germany, the U.K, France, Spain, Italy, Russia and others. The per-capita consumption of yogurt is high in high-income countries like Germany and France. Compared to other dairy products, yogurt consumption is high in countries like Germany. This may be due to the increasing awareness of the health benefits of yogurt. Greece is famous for its strained yogurt and is a supplier to many emerging economies.
The European market for yogurt is highly fragmented so as to meet specific consumer demand for taste and nutritional attributes. The vendors compete for innovation, pricing and distribution. Dannon is the market leader in Europe; the company achieved its target of low-fat and low-sugar and has no sustainability issues due to its growing popularity. Yakult is famous for its products, which help in digestion and building immunity. The private labels are expected to grow rapidly during the forecast period.
Some of the major players in the market include-
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