Key regions: Spain, Canada, United Kingdom, United States, Philippines
The Dairy Products & Eggs market in The Food market of G20 is experiencing minimal growth, influenced by factors such as increasing demand for dairy substitutes, changing consumer preferences, and the convenience of online shopping. Despite this, the market continues to expand due to rising health consciousness and technological advancements in the dairy industry.
Customer preferences: The Dairy Products & Eggs Market within The Food market has seen a significant shift in consumer preferences towards plant-based alternatives due to increasing concerns about animal welfare, environmental impact, and health benefits. This trend is particularly prominent in the G20 countries, where there is a growing interest in vegan and vegetarian diets. Additionally, there is a rise in demand for dairy-free and lactose-free products, catering to the needs of consumers with allergies or intolerances. This shift towards plant-based options is also influenced by cultural and lifestyle factors, such as the rise of flexitarianism and the popularity of clean eating.
Trends in the market: In the G20 countries, the Dairy Products & Eggs Market within The Food market is experiencing a rise in demand for organic and plant-based products, driven by increasing health and environmental concerns. In addition, there is a growing trend of incorporating technology in the production process, such as precision farming and data analytics, to improve efficiency and sustainability. These trends are significant as they reflect a shift towards more sustainable and healthier food choices, and they have potential implications for industry stakeholders, including potential for market growth and the need for companies to adapt to changing consumer preferences.
Local special circumstances: In New Zealand, the Dairy Products & Eggs Market is heavily influenced by the country's large dairy industry and its strong emphasis on sustainable farming practices. These factors have contributed to the rise of organic and free-range dairy products in the market, as well as the implementation of strict regulations on food safety and animal welfare. Additionally, the country's high consumption of dairy products, especially cheese, has led to a diverse range of innovative and unique cheese offerings in the market.
Underlying macroeconomic factors: The Dairy Products & Eggs Market within The Food market is heavily influenced by macroeconomic factors such as consumer preferences, trade policies, and government regulations. In countries where there is a high demand for dairy and egg products, such as in G20 nations, the market is expected to grow due to increasing disposable income and changing dietary habits. On the other hand, countries with strict regulations on dairy and egg production may experience slower growth in the market. Additionally, fluctuating global economic conditions can impact the demand for these products, as they are considered discretionary purchases for many consumers.
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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