Key regions: India, Canada, China, United States, Russia
The Milk Substitutes Market in CIS is experiencing mild growth due to factors such as increasing health consciousness among consumers and the convenience of online shopping. This growth is also impacted by the rising demand for dairy alternatives and the emergence of new product innovations.
Customer preferences: The Milk Substitutes Market within the Dairy Products & Eggs Market is experiencing a rise in demand for plant-based alternatives due to increasing health and environmental concerns. This trend is driven by a growing consumer preference for sustainable and ethical options, as well as a shift towards a more plant-based diet. Additionally, the rise of veganism and lactose intolerance has also contributed to the growth of this market segment.
Trends in the market: In the CIS region, 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 a growing consumer preference for healthier and more sustainable options. This trend is expected to continue, with players in the market investing in research and development to offer a wider range of dairy-free products. Additionally, the rising awareness of lactose intolerance and veganism is also contributing to the growth of this market. As a result, industry stakeholders are focusing on expanding their product portfolios and distribution channels to cater to the evolving consumer preferences.
Local special circumstances: In CIS, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by the region's preference for plant-based diets and the growing awareness of dairy alternatives among consumers. This trend is driven by cultural and religious factors, as well as the increasing health-consciousness among the population. Additionally, government regulations promoting sustainable and ethical food production have led to the introduction of innovative milk substitutes in the market. These unique local factors contribute to the dynamic growth of the Milk Substitutes Market in CIS.
Underlying macroeconomic factors: The Milk Substitutes Market within the Dairy Products & Eggs Market is impacted by various macroeconomic factors, including the global economic climate, national economic stability, and fiscal policies. For instance, countries with stable economies and favorable fiscal policies tend to have higher demand for milk substitutes, as consumers have increased purchasing power. Additionally, technological advancements and government support for alternative dairy products also play a crucial role in market growth. Rising health consciousness and the growing trend of plant-based diets are further driving the demand for milk substitutes, particularly in regions with a large aging population and high prevalence of chronic diseases.
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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