Key regions: Spain, Canada, United Kingdom, United States, Philippines
The Dairy Products & Eggs Market in Argentina has been experiencing mild growth, influenced by factors such as increasing consumer awareness towards health and wellness, the convenience of online purchasing, and the growing adoption of digital technologies in the food industry. These factors are driving the market's growth, particularly in the sub-markets of Milk, Yogurt, and Cheese, while others like Eggs, Milk Substitutes, and Cheese Substitutes are also seeing steady growth. However, the market is facing challenges such as fluctuating prices of raw materials and changing consumer preferences, which are impacting the overall growth rate.
Customer preferences: Consumers in Argentina are showing a growing preference for organic and locally-sourced dairy products and eggs, driven by a focus on health and sustainability. This trend is also reflected in the rise of vegetarian and plant-based diets, with many consumers opting for dairy alternatives such as soy and almond milk. Additionally, there is a growing demand for specialty and artisanal cheese, catering to the country's rich culinary traditions and evolving taste preferences.
Trends in the market: In Argentina, the Dairy Products & Eggs Market within The Food market is experiencing a shift towards plant-based alternatives as consumers become more health-conscious and environmentally aware. This trend is expected to continue, with companies investing in research and development to meet the growing demand. Additionally, there is a rise in online grocery shopping, providing convenience and safety during the pandemic. This shift towards e-commerce is expected to have a lasting impact on the industry, with companies investing in digital strategies to reach consumers.
Local special circumstances: In Argentina, the Dairy Products & Eggs market is heavily influenced by the country's vast and diverse agricultural landscape. The production of high-quality dairy and egg products is deeply ingrained in the country's culture and is supported by government regulations that prioritize domestic production. Additionally, Argentina's large and growing middle class has an increasing demand for dairy and egg products, driving innovation and competition in the market. However, challenges such as fluctuating global commodity prices and trade policies continue to impact the market dynamics in Argentina.
Underlying macroeconomic factors: The Dairy Products & Eggs Market within The Food market in Argentina is heavily influenced by macroeconomic factors such as economic stability, consumer purchasing power, and government policies. With a steady growth in the country's GDP and a stable inflation rate, Argentina provides a favorable environment for the growth of the dairy and eggs market. Furthermore, government initiatives to increase dairy production and export, coupled with rising consumer demand for healthy and nutritious food products, are expected to drive market growth. Additionally, increasing investments in agriculture and technology advancements to improve production efficiency are further boosting the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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