Key regions: Spain, Canada, United Kingdom, United States, Philippines
The Dairy Products & Eggs Market within The Food market in G7 has seen moderate growth due to increasing health consciousness, technological advancements, and convenience of online services. Sub-markets like Milk, Yogurt, and Cheese have contributed to this growth, while substitutes have also affected the overall market. However, the minimal growth rate can be attributed to factors such as changing consumer preferences and competition from alternative plant-based products.
Customer preferences: With the rising popularity of plant-based diets and environmentally-conscious lifestyles, there has been a noticeable increase in demand for dairy-free alternatives in the Dairy Products & Eggs Market within The Food market. This shift is being driven by consumer concerns over animal welfare and sustainability, as well as a growing interest in healthier options. As a result, companies are introducing more plant-based dairy alternatives and innovative products such as nut-based milks and vegan cheeses to cater to this evolving trend.
Trends in the market: In the G7 countries, the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for plant-based dairy alternatives. This trend is driven by increasing consumer awareness of the health and environmental benefits of plant-based options. Additionally, the rise of flexitarian and vegan diets is contributing to the growth of this market. This trend is expected to continue, with a projected CAGR of 9.3% from 2020 to 2025. This presents opportunities for industry stakeholders to expand their product offerings and cater to the growing demand for dairy alternatives. However, it also poses challenges for traditional dairy producers, who may need to adapt their business models to stay relevant in the evolving market.
Local special circumstances: In the G7 countries, the Dairy Products & Eggs Market is heavily influenced by unique local factors. In Canada, the market is driven by the country's vast agricultural sector and government policies promoting organic and locally sourced products. In Japan, the market is shaped by cultural preferences for high-quality and fresh dairy products, while in Germany, strict regulations on animal welfare and sustainability drive market trends. In the United States, the market is impacted by consumer demand for plant-based alternatives, while in Italy, traditional artisanal production methods continue to dominate the market. In France, the market is influenced by strong consumer demand for organic and specialty cheese products. In the United Kingdom, the market is shaped by the country's exit from the European Union and its impact on trade policies and regulations for dairy products.
Underlying macroeconomic factors: The Dairy Products & Eggs Market within The Food market is greatly impacted by macroeconomic factors such as consumer purchasing power, trade policies, and government subsidies. Countries with stable economic conditions and supportive trade policies tend to have a more robust market for dairy products and eggs. On the other hand, countries with economic instability and strict trade regulations may face challenges in the production and distribution of these products. Additionally, government subsidies can greatly affect the demand and supply of dairy products and eggs, as they can make them more affordable for consumers. Furthermore, the growing population and changing dietary preferences worldwide are also driving the demand for dairy products and eggs, leading 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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