After a year of exceptionally strong retail growth in 2020, retail volume and current value sales of yoghurt and sour milk products are expected to see declines in 2021, due to a return to more normal purchasing patterns. As the country gradually reopens as COVID-19 is brought under control, and consumers return to spending more time outside of the home.
Sour milk products remains by far the most dynamic product area within yoghurt and sour milk products in current value terms in 2021. This product area contains traditionally popular products such as buttermilk, as well as newer entrants such as kefir and ryazhenka.
The three leading players in yoghurt and sour milk products, Danone Canada, Ultima Foods (Agropur) and General Mills Canada, are expected to account for nearly two thirds of retail value sales in 2021, with Danone maintaining its strong lead. Danone is benefiting from investing in its milk alternative-based yoghurt offerings, mostly under the Silk brand.
From 2022 onwards, growth rates in yoghurt and sour milk products are expected to normalise, seeing increases similar to those in the review period, due to a return to more normal social conditions and consumption patterns. Sour milk products is expected to continue the trend and see the strongest retail volume and current value CAGRs in the forecast period, in line with the growing health and wellness trend.
Plant-based yoghurt is expected to see strong growth in the forecast period due to the rising consumer interest in cutting dairy products from the diet. This does not only apply to vegans, but also to vegetarians and other people who are seeking to consume fewer animal-based products for health and/or environmental reasons.
Although the current leading players are expected to maintain their positions in the forecast period, it is likely that they will continue to lose share. Smaller players are challenging with new launches, whilst trade treaties, including the Canada-US-Mexico trade deal, which came into force in 2020, are expected to lead to more imported yoghurt products making their way into Canada during the next five years.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Yoghurt and Sour Milk Drinks industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Yoghurt and Sour Milk Drinks industry in Canada, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Yoghurt and Sour Milk Drinks research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page