Key regions: India, Canada, China, United States, Russia
The Milk Substitutes Market in Canada is experiencing minimal growth due to factors like increasing health consciousness and convenience of online services. This growth is impacted by factors such as availability of traditional dairy products and consumer preferences.
Customer preferences: As more consumers become health-conscious, there has been a rise in demand for dairy-free and plant-based milk substitutes in Canada. This can be attributed to a growing awareness of lactose intolerance and the health benefits associated with plant-based alternatives. Additionally, the increasing popularity of vegan and vegetarian diets has also contributed to the growth of the milk substitutes market. These trends are driven by a desire for healthier and more sustainable dietary choices, as well as cultural influences promoting plant-based lifestyles.
Trends in the market: In Canada, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for plant-based milk alternatives, driven by the growing trend of veganism and lactose intolerance. This trend is expected to continue as consumers become more health-conscious and seek out sustainable and ethically-produced options. This shift towards non-dairy milk substitutes has significant implications for industry stakeholders, including dairy farmers and manufacturers, who may need to adapt their production and marketing strategies to cater to this changing consumer preference. Additionally, there is a rise in innovation and product development in the milk substitutes market, with a focus on creating more diverse and appealing options for consumers.
Local special circumstances: In Canada, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's strong dairy industry and regulatory policies. The Canadian government has strict regulations on the labeling and production of dairy alternatives, which has led to a limited variety of milk substitutes being available in the market. Additionally, the country's diverse cultural landscape has resulted in a growing demand for plant-based milk alternatives, particularly among the younger generation seeking healthier and more environmentally friendly options.
Underlying macroeconomic factors: The Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market in Canada is influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. As the Canadian economy continues to recover from the impact of the COVID-19 pandemic, consumer confidence and purchasing power are expected to increase, leading to higher demand for dairy alternatives. Moreover, government initiatives aimed at promoting healthy eating and reducing the environmental impact of dairy production are also likely to drive the growth of the milk substitutes market in Canada. Additionally, the growing trend of veganism and lactose intolerance among consumers is expected to further boost the demand for dairy alternatives in the country.
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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