Key regions: Spain, Canada, United Kingdom, United States, Philippines
The dairy products & eggs market in India has seen a moderate growth rate due to factors such as increasing health awareness, adoption of digital technologies, and convenience of online services. However, sub-markets like milk substitutes and cheese substitutes may experience higher growth due to changing dietary preferences. The overall market is expected to continue its steady growth in the coming years.
Customer preferences: Consumers in India are increasingly opting for organic and locally sourced dairy products and eggs, driven by a growing awareness of the health and environmental benefits. This trend is also in line with the rising preference for sustainable and ethical food choices. Additionally, the shift towards vegetarian and plant-based diets is contributing to the growth of non-dairy alternatives, such as plant-based milk, cheese, and eggs. This is driven by cultural and religious factors, as well as the increasing adoption of flexitarian and vegan lifestyles.
Trends in the market: In India, the Dairy Products & Eggs Market within The Food market is experiencing a shift towards plant-based alternatives, driven by increasing health consciousness and environmental concerns. This trend is expected to continue, with a focus on innovation and product development to cater to the growing demand for non-dairy options. Additionally, the rise of e-commerce and online grocery platforms is making it easier for consumers to access these products, presenting opportunities for industry players to expand their market reach. However, this trend also poses a potential threat to traditional dairy farms, as they may struggle to keep up with the changing consumer preferences. Overall, the trajectory of this trend highlights the need for industry stakeholders to adapt and diversify their product offerings to stay competitive in the evolving market.
Local special circumstances: In India, the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's diverse cultural and geographical landscape. The demand for dairy products and eggs varies across different regions, with certain communities having a vegetarian diet and others being heavy consumers. Additionally, government regulations and policies play a significant role in shaping the market, particularly in terms of production and distribution. The unique combination of these factors has resulted in a complex and highly competitive market for dairy products and eggs in India.
Underlying macroeconomic factors: The Dairy Products & Eggs Market in India is heavily influenced by macroeconomic factors such as economic stability, government policies, and consumer demand. With a growing economy and rising disposable income, there has been a steady increase in demand for dairy products and eggs in India. Additionally, government initiatives such as subsidies and investments in the dairy sector have also contributed to the growth of the market. However, challenges such as volatility in global commodity prices and fluctuations in exchange rates can impact the performance of the market. Moreover, changing dietary preferences and health consciousness among consumers are also shaping the demand for healthier and organic dairy products and eggs in India.
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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