Key regions: Canada, South Korea, United Kingdom, Japan, Philippines
The Cheese Substitutes Market in Thailand is experiencing minimal growth, impacted by factors such as low consumer awareness and limited availability of online services. Despite this, the market is expected to see steady growth due to increasing health consciousness and availability of alternative dairy products.
Customer preferences: As consumers become more health-conscious, there has been a growing demand for plant-based cheese substitutes in Thailand. This trend is driven by a shift towards healthier and more sustainable food choices, as well as a rise in veganism and lactose intolerance. Additionally, there is a growing awareness of the environmental impact of dairy production, leading to a preference for alternative options. This has created opportunities for companies to innovate and cater to the evolving preferences of consumers.
Trends in the market: In Thailand, the Cheese Substitutes Market within the Dairy Products & Eggs Market is experiencing a growth in demand for plant-based alternatives, driven by the rise in vegetarian and vegan diets. This trend is expected to continue due to increasing health and environmental concerns. In addition, there is a growing trend of using online platforms to purchase and promote cheese substitutes, allowing for wider accessibility and reach for consumers. These developments have significant implications for industry stakeholders, as they may need to adapt their production and marketing strategies to cater to this shifting consumer demand.
Local special circumstances: In Thailand, the Cheese Substitutes Market of the Dairy Products & Eggs Market is heavily influenced by the country's cultural and religious practices. With a predominantly Buddhist population, there is a high demand for vegetarian and plant-based products, leading to the popularity of non-dairy cheese substitutes. Additionally, the government's strict regulations on the import and sale of dairy products have also contributed to the growth of the local cheese substitutes market. Moreover, the tropical climate of Thailand has posed challenges for traditional dairy farming, making it difficult for the country to meet the demand for dairy products, further driving the adoption of cheese substitutes.
Underlying macroeconomic factors: The Cheese Substitutes Market of the Dairy Products & Eggs Market within The Food market in Thailand is heavily influenced by macroeconomic factors. The country's stable economic growth and increasing disposable income are driving the demand for premium dairy products, including cheese substitutes. Moreover, Thailand's favorable regulatory environment and government support for the dairy industry are fueling market growth. However, the market is also affected by global economic trends, such as fluctuations in dairy prices and trade policies. Additionally, changing consumer preferences towards healthier and plant-based alternatives are shaping the growth of the cheese substitutes market in Thailand.
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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