Europe Plant Based Yogurt Market Size Expands 3.5X to Reach USD 1.19 Billion by 2029

Published | 31 May 2023

Europe plant-based yogurt market is rapidly growing due to the increasing consumer awareness about health and sustainability; rising demand for dairy alternatives, product innovations, and flavors; growing vegan population; and increasing availability and accessibility of plant-based yogurt options in retail and online channels.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Europe plant-based yogurt market size at USD 0.34 billion in 2022. During the forecast period between 2023 and 2029. Europe plant-based yogurt market size to grow at a robust CAGR of 19.6% reaching a value of USD 1.19 billion by 2029. Several major drivers are projected to fuel the growth in the Europe plant-based yogurt market during the forecast period. Consumer demand for healthier and more sustainable food options is one of the primary growth factors. Plant-based yogurts manufactured from soy, almond, and coconut milk are considered healthier and more environmentally friendly than typical dairy yogurts. Also, the growing number of lactose-intolerant people, as well as the growing popularity of veganism, are likely to fuel the expansion of the plant-based yogurt market in Europe. The availability of a diverse selection of flavors and variations, as well as the convenience of on-the-go packaging, are projected to propel market expansion.

Europe Plant-based Yogurt Market – Overview

Plant-based yogurt is a dairy-free alternative to traditional yogurt made from animal milk. It is typically made from plant-based ingredients, such as soy, almond, coconut, or cashew milk, and fermented with live cultures to create a creamy and tangy texture. Plant-based yogurt can be enjoyed as a standalone snack, mixed with fruit or granola, used as a substitute for sour cream, or incorporated into recipes for baked goods or smoothies. Plant-based yogurt is a popular choice among vegans, those with lactose intolerance or dairy allergies, and those who simply want to incorporate more plant-based foods into their diet.

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Impact of COVID-19 on Europe Plant-based Yogurt Market

The COVID-19 pandemic significantly impacted the Europe plant-based yogurt market. With the outbreak of the virus, consumers became more health-conscious and started prioritizing plant-based diets to boost their immunity. This led to an increase in demand for plant-based yogurt products as they are perceived as a healthier alternative to traditional dairy-based yogurts. However, the pandemic also caused disruptions in the supply chain, leading to fluctuations in the availability of raw materials and logistics issues. Also, the economic slowdown caused by the pandemic has resulted in reduced consumer spending power, which has harmed the growth of the market.

Europe Plant-based Yogurt Market – By Flavor

On the basis of flavor, Europe plant-based yogurt market is divided into Regular, Vanilla, Strawberry, Blueberry, and Cherry segments. The largest segment in the Europe plant-based yogurt market is the regular flavor. While there are several flavor options available such as vanilla, strawberry, blueberry, and cherry, the regular flavor is the most popular among consumers. This may be due to its versatility and ability to be used in a variety of recipes and dishes. Also, the regular flavor may appeal to consumers who are looking for a more neutral taste or who prefer to add their flavorings or toppings. Overall, the regular segment dominates the market in terms of sales and consumer preference.

Competitive Landscape

Europe plant-based yogurt market is fiercely competitive. Major companies in the market include Danone S.A., Nestle SA, General Mills Inc., The Hain Celestial Group, Inc., Forager Project LLC, Yoplait S.A.S, COYO Pty Ltd, The Coconut Collaborative, Alpro, Oatly AB, Stonyfield Farm, Inc., Activia, Kite Hill, Silk, and Nush Foods. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Europe plant-based yogurt market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Europe Plant-based Yogurt Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Europe Plant-based Yogurt Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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