Key regions: India, Canada, China, United States, Russia
The Milk Substitutes Market in China is experiencing slight growth, impacted by factors such as rising health consciousness and convenience of online services. The market's growth rate is negligible due to increasing competition and consumer preference for traditional dairy products.
Customer preferences: As Chinese consumers become more health-conscious, there has been a rise in demand for dairy-free milk substitutes such as soy, almond, and coconut milk. This trend is driven by the increasing awareness of lactose intolerance and the desire for plant-based alternatives. Additionally, with the growing popularity of veganism and plant-based diets, the demand for milk substitutes is expected to continue to grow. This shift in consumer preferences reflects a larger trend towards healthier and more sustainable food choices.
Trends in the market: In China, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is seeing a surge in demand for plant-based alternatives, particularly in urban areas where health and environmental concerns are on the rise. Many consumers are turning to soy, almond, and oat milk as a healthier and more sustainable option. This trend is expected to continue, driven by increasing health consciousness and a growing vegan population. Industry stakeholders should capitalize on this trend by diversifying their product offerings and investing in marketing and distribution strategies to reach a wider consumer base.
Local special circumstances: In China, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by cultural preferences and regulations. The country has a large lactose-intolerant population, leading to a high demand for plant-based milk alternatives. Additionally, the government's strict regulations on dairy production and imports have created a unique market landscape, with domestic companies dominating the market. This has also led to a growing trend of innovative dairy products such as almond milk and soy milk gaining popularity among health-conscious consumers.
Underlying macroeconomic factors: The Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market in China is heavily influenced by macroeconomic factors such as the country's economic growth, government policies, and consumer behavior. With China's rapidly growing economy and rising disposable income, there is a growing demand for alternative milk products, such as soy milk and almond milk, among health-conscious consumers. Moreover, the Chinese government's push towards a healthier and sustainable food system, along with increasing concerns about food safety, has further boosted the demand for milk substitutes in the country. Additionally, the rising prevalence of lactose intolerance and dairy allergies among the Chinese population has also driven the growth of the milk substitutes 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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