Key regions: Canada, South Korea, United Kingdom, Japan, Philippines
The Cheese Substitutes market in Belgium is facing subdued growth, influenced by factors such as increasing health consciousness, convenience of online purchases, and adoption of digital technologies. This has led to significant growth in the Dairy Products & Eggs Market within The Food market.
Customer preferences: As more consumers in Belgium become health-conscious, there is a growing demand for dairy-free and plant-based cheese substitutes. This trend is driven by the increasing popularity of vegan and flexitarian diets, as well as concerns over lactose intolerance and animal welfare. As a result, food manufacturers are developing innovative and flavorful alternatives to traditional dairy cheese, catering to a diverse range of dietary preferences and needs.
Trends in the market: In Belgium, there is a rising demand for plant-based cheese substitutes as consumers become more health-conscious and environmentally aware. In addition, the growing vegan population is driving the demand for dairy-free alternatives. This trend is expected to continue, with a projected growth of 9% in the cheese substitutes market by 2023. The significance of this trend lies in the potential for industry players to tap into the growing market and diversify their product offerings. Moreover, this trend could also lead to increased competition and innovation in the cheese substitutes market, benefiting consumers with more options and better quality products. Additionally, this shift towards plant-based alternatives could have a positive impact on the environment by reducing the carbon footprint of the dairy industry.
Local special circumstances: In Belgium, the Cheese Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's strong tradition and preference for dairy-based products. However, with the rise of veganism and lactose intolerance, there has been a growing demand for cheese substitutes made from plant-based ingredients. This trend is driven by the country's increasing health consciousness and ethical concerns, as well as the availability of innovative substitutes such as nut-based cheeses and tofu-based alternatives. Moreover, Belgium's strict regulations on food labeling and production also play a significant role in shaping the market dynamics and consumer choices in this segment.
Underlying macroeconomic factors: Macroeconomic factors such as changing consumer preferences, increasing health consciousness, and the growing trend towards plant-based diets are driving the growth of the Cheese Substitutes Market in Belgium. In addition, the dairy industry is facing challenges such as fluctuating milk prices, environmental concerns, and animal welfare issues, leading consumers to seek alternative options. Furthermore, the rising demand for sustainable and ethical food products is also contributing to the growth of the cheese substitutes market, as consumers become more aware of the impact of their food choices on the environment. These macroeconomic factors are expected to continue driving market growth in Belgium and other regions with similar trends.
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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