Key regions: Canada, South Korea, United Kingdom, Japan, Philippines
The Cheese Substitutes Market in APAC is slowly growing, influenced by factors such as increasing health consciousness and the convenience of online services. Despite minimal growth, digital technologies are paving the way for future expansion in this segment.
Customer preferences: With the growing focus on health and wellness, consumers in APAC are increasingly turning to plant-based cheese substitutes as a healthier alternative to dairy cheese. This trend is driven by a rise in veganism and lactose intolerance, as well as a growing awareness of the environmental impact of traditional dairy farming. Additionally, the demand for convenience and clean label products has led to a surge in innovative and sustainable cheese substitutes made from ingredients such as nuts, beans, and coconut oil.
Trends in the market: In APAC, the Cheese Substitutes Market within the Dairy Products & Eggs Market is seeing a surge in demand for plant-based alternatives. This trend is driven by the increasing popularity of vegan and flexitarian diets, as well as concerns about animal welfare and sustainability. As a result, companies are investing in R&D to develop innovative and tasty cheese substitutes, while also expanding their distribution networks to reach a wider consumer base. This trend is expected to continue, with potential implications for traditional dairy companies who may need to adapt their product offerings in order to remain competitive.
Local special circumstances: In Japan, the Cheese Substitutes Market is driven by a growing demand for healthier and plant-based alternatives to traditional dairy products. The country has a strong culture of vegetarianism and a rising number of health-conscious consumers, leading to a surge in the popularity of cheese substitutes made from soy, nuts, and other non-dairy ingredients. Additionally, strict regulations on dairy imports have created a favorable environment for local cheese substitute producers.
Underlying macroeconomic factors: The Cheese Substitutes Market in the APAC region is heavily influenced by macroeconomic factors such as changing consumer preferences, economic growth, and government policies. With increasing health concerns and growing demand for plant-based products, the market is experiencing significant growth. This is further fueled by favorable fiscal policies and investments in the food industry by governments in countries like China, India, and Japan. Additionally, the growing middle class population and rising disposable incomes are driving the demand for dairy alternatives in the region. However, challenges such as regulatory barriers and limited access to resources in developing countries may hinder the market growth in some areas.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
