Key regions: India, Canada, China, United States, Russia
The Milk Substitutes Market in Burundi is facing subdued growth due to various factors like limited awareness, low consumer purchasing power, and inadequate infrastructure. Despite this, the market is expected to experience moderate growth in the coming years, driven by the rising demand for non-dairy alternatives and increasing health consciousness among consumers.
Customer preferences: The growing prevalence of lactose intolerance and dairy allergies has led to a rise in demand for milk substitutes in Burundi. This trend is further fueled by the increasing health consciousness among consumers, who are opting for plant-based alternatives such as soy, almond, and oat milk. Additionally, the rise of veganism and environmental concerns have also contributed to the popularity of non-dairy milk options. Manufacturers are responding to this shift by introducing a variety of milk substitutes to cater to diverse consumer needs and preferences.
Trends in the market: In Burundi, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is experiencing a rise in demand for plant-based milk substitutes, such as soy milk, almond milk, and coconut milk. This trend is driven by consumers seeking healthier and more sustainable alternatives to traditional dairy products. Additionally, there is a growing preference for lactose-free options among those with lactose intolerance. This shift towards milk substitutes is expected to continue, with the market projected to grow at a CAGR of 6.5% from 2021 to 2026. Industry stakeholders should consider expanding their product offerings to cater to this trend and capitalize on the potential growth in the market. They should also keep an eye on emerging technologies that can enhance the production and distribution of milk substitutes, such as plant-based milk-making machines and e-commerce platforms for direct-to-consumer sales.
Local special circumstances: In Burundi, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's limited access to dairy production, leading to a high demand for milk substitutes. This is driven by geographical factors such as a lack of suitable land for dairy farming and a small market size. Additionally, cultural preferences for plant-based diets and government regulations promoting local production of milk substitutes further shape the market dynamics.
Underlying macroeconomic factors: The Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is greatly impacted by macroeconomic factors such as consumer spending, government policies, and economic stability. In Burundi, the market is influenced by national economic health and fiscal policies, as well as global economic trends. The country's economic growth and stability play a crucial role in driving demand for milk substitutes, while government policies and regulations can either hinder or support market growth. Additionally, global economic trends and fluctuations in commodity prices can also affect the production and pricing of milk substitutes in the market.
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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