Key regions: Spain, Canada, United Kingdom, United States, Philippines
The Dairy Products & Eggs Market in Asia is experiencing minimal growth, influenced by factors such as increasing health consciousness, convenience of online services, and adoption of digital technologies. This can be attributed to the various sub-markets within The Food market, including Milk, Yogurt, Cheese, Eggs, and their substitutes. Other Dairy Products & Eggs also play a role in shaping the overall market growth.
Customer preferences: Consumers in Asia are increasingly turning towards plant-based alternatives to traditional dairy products, driven by a growing interest in health and sustainability. This trend is particularly evident in countries like China and Japan, where lactose intolerance is prevalent. Additionally, there is a rising demand for organic and ethically sourced eggs, as consumers become more conscious of the environmental impact of their food choices. This shift towards plant-based and ethical products is also influenced by the growing popularity of a flexitarian diet, as consumers seek to reduce their meat and dairy consumption for health and environmental reasons.
Trends in the market: In Asia, the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for organic and plant-based dairy alternatives due to increasing health consciousness and environmental concerns. In addition, there is a growing trend of incorporating dairy products and eggs into various cuisines, leading to a rise in imports from countries like New Zealand and Australia. This trend is expected to continue, posing potential challenges for local dairy producers. Moreover, the rise of e-commerce in the region is opening up new distribution channels for dairy products, providing opportunities for industry players to expand their market reach and tap into the growing demand.
Local special circumstances: In Southeast Asia, the Dairy Products & Eggs Market is heavily influenced by the region's diverse cultures, leading to a wide variety of unique dairy and egg-based products. For example, in Thailand, coconut milk is a common ingredient in dairy products, while in Japan, fermented soybean products are popular. Additionally, regulatory restrictions on dairy imports in countries like China and Vietnam have led to a strong demand for locally produced dairy products, driving market growth.
Underlying macroeconomic factors: The Dairy Products & Eggs Market in Asia is heavily influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. With the rise of middle-class households and increasing disposable income, the demand for dairy products and eggs is expected to grow. Additionally, favorable government policies, such as subsidies for dairy farmers and investments in infrastructure, are further driving market growth. However, the market is also affected by global trade tensions and fluctuating commodity prices, which can impact production and prices. Moreover, the shift towards healthier and more sustainable food options is also shaping the market, as consumers are increasingly seeking dairy and egg products that are free from additives and hormones.
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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