Europe Yogurt Market

Description

Yoghurt has been an integral part of European breakfast and cuisines. Its low cholesterol content, high protein levels and vitamin levels almost equivalent to milk have made it a popular alternative for milk as a breakfast. Changing lifestyles and increased demand for instant food has given yoghurt an image of an instant as well as a wholesome breakfast. The European Yogurt market is currently accounted for US$XX Million and is expected to grow to US$XX Million by 2022, at a CAGR of XX% during the forecast period. Different countries in the continent show different trends, depending on the local cuisine and application.

Market Dynamics:

In Europe, the number of Yogurt consumers above the age of 50 has significantly increased over recent years. Increasing awareness of the health benefits of yoghurt, which is rich in calcium and proteins, might be responsible for the trend. Some of the health benefits of yoghurt include improving digestion, boosting the immune system, etc. The increasing availability of flavoured yoghurt, with frequent introduction of new, creative flavours, is also a driver of this market. Although its low cholesterol levels make it a better alternative for breakfast, than milk, its fat levels can cause obesity, in a long run. Increasing cost of Yogurt has been the major restraining factor for the growth of the market. However, innovations in the consistency and fat content of yoghurt have helped the market to expand.

Market Segmentation:

On the basis of product type, the European market can be broadly divided into regular and fat-free yoghurt. Increasing health awareness has supported the growth of the fat-free yoghurt market. On the basis of form, the market demand is divided into Greek yoghurt, set yoghurt, yoghurt drinks, and frozen yoghurt. Set yoghurt is the leading segment and has the highest market share. The yoghurt drinks and frozen yoghurt segments are further segmented into regular and flavoured. Flavoured Yoghurts are expected to show rapid growth in the region. On the basis distribution channel, the market has been segmented into supermarkets/hypermarkets, convenience stores, grocery stores, online and others. Supermarkets have shown highest sales of yoghurt.

Geographical Analysis:

France is the leading consumer of Yogurt in Europe, followed by Ireland, the United Kingdom and Russia. An Average Frenchman consumes over 21.3 kg of yoghurt, while in Ireland, U.K. and Russia; the figures are 13.2kg, 10.2kg and 4.4 kg per annum respectively. The vendors compete for innovation, pricing and distribution. The private labels are expected to grow rapidly in the market during the forecast period.

Key players in the industry include Chobani Inc. (U.S.), Groupe Danone (French), General Mills (U.S.) Nestle (Swiss) and Kraft Foods Group (U.S.) –to name a few.