Key regions: China, South Korea, Russia, United Kingdom, India
The Cheese Market in Southern Asia is seeing minimal growth due to factors such as limited consumer awareness and lack of availability of dairy products in some regions. Despite this, the market is still expected to see steady growth due to the increasing demand for dairy products and the rise in online purchasing options.
Customer preferences: As consumers become more health-conscious and seek alternatives to traditional meat and poultry products, there has been a rise in demand for plant-based cheese options in Southern Asia. This shift is influenced by cultural preferences for vegetarian and vegan diets, as well as growing concerns about animal welfare and sustainability. With a large vegetarian population in the region, there is a growing market for dairy-free cheese alternatives made from ingredients like cashews, coconuts, and soy. Additionally, the rise of veganism as a lifestyle choice has led to a surge in demand for plant-based cheese products, catering to a wider range of dietary preferences. This trend is also reflected in the increasing number of restaurants and cafes offering vegan cheese options, further driving the growth of the cheese market in Southern Asia.
Trends in the market: In Southern Asia, the Cheese Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for artisanal and organic cheese products. This trend is driven by the increasing health consciousness and preference for natural and sustainable food options. As a result, cheese manufacturers are expanding their product portfolios to cater to this demand. This trend is expected to continue, with consumers willing to pay premium prices for high-quality cheese products. Industry stakeholders should take note of this trend and adapt their strategies to meet the changing consumer preferences.
Local special circumstances: In Southern Asia, the Cheese Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by cultural preferences and dietary habits. For instance, in India, cheese consumption is traditionally low due to the prevalence of vegetarianism. However, with the increasing influence of Western cuisine, there has been a growing demand for cheese, particularly in urban areas. In contrast, in countries like Pakistan and Bangladesh, cheese consumption is limited due to cultural and religious restrictions on dairy products. Additionally, varying regulatory frameworks and trade policies among countries in the region also impact the cheese market dynamics.
Underlying macroeconomic factors: The Cheese Market of the Dairy Products & Eggs Market within The Food market is greatly influenced by macroeconomic factors such as consumer buying power, government policies on agricultural production and trade, and international trade agreements. Countries with stable economic conditions and favorable policies towards dairy production and exports are experiencing higher market growth compared to regions with economic instability and restrictive trade policies. Additionally, the growing demand for protein-rich foods and the increasing popularity of cheese-based dishes in the region are driving the demand for cheese products, further contributing to market growth.
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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