Milk Substitutes - Eastern Asia

Eastern Asia

Highlights

Revenue in the Milk Substitutes market amounts to US$12.52bn in 2024. The market is expected to grow annually by 5.35% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$10bn in 2024).
In relation to total population figures, per person revenues of US$7.66 are generated in 2024.
In the Milk Substitutes market, volume is expected to amount to 4.36bn kg by 2029. The Milk Substitutes market is expected to show a volume growth of 3.2% in 2025.0.
The average volume per person in the Milk Substitutes market is expected to amount to 2.3kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Substitutes Market in Eastern Asia is experiencing minimal growth due to factors such as high lactose intolerance rates and consumer preference for traditional dairy products. However, increasing health consciousness and convenience of plant-based substitutes may drive growth in the future.

Customer preferences: In Eastern Asia, the Milk Substitutes Market is experiencing a shift towards plant-based options, driven by health-conscious consumers seeking dairy alternatives. This trend is influenced by cultural beliefs surrounding holistic wellness and a growing preference for vegetarian and vegan diets. As a result, there is a rising demand for non-dairy milk substitutes made from soy, almond, and other plant-based ingredients. This shift is also supported by the increasing availability and variety of these products in the market.

Trends in the market: In Eastern Asia, the Milk Substitutes Market is experiencing a surge in demand due to the increasing popularity of plant-based diets and growing concerns about lactose intolerance. This trend is expected to continue as health and environmental consciousness among consumers drives the adoption of non-dairy alternatives. Additionally, the rise of e-commerce platforms and the availability of a variety of milk substitutes are further propelling the growth of this market. These developments have significant implications for industry stakeholders, including dairy producers who may need to diversify their product offerings, and retailers who must adapt to changing consumer preferences.

Local special circumstances: In Eastern Asia, the Milk Substitutes Market within the Dairy Products & Eggs Market is heavily influenced by cultural dietary preferences and government regulations. For example, China's growing lactose intolerance among its population has led to a surge in demand for plant-based milk alternatives. In Japan, a strong emphasis on healthy living has driven the popularity of soy milk, while South Korea's strict regulations on dairy imports have opened up opportunities for local milk substitute producers. These unique factors shape the market dynamics in Eastern Asia, making it a distinct market from others in the food industry.

Underlying macroeconomic factors: The Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market in Eastern Asia is heavily influenced by macroeconomic factors such as economic growth, consumer purchasing power, and government policies. With the rising disposable income and changing dietary preferences of consumers, there is a growing demand for dairy alternatives in the region. This is further supported by government initiatives promoting healthy and sustainable food options, along with increasing investments in the food and beverage industry. Moreover, the growing awareness about lactose intolerance and the environmental impact of dairy production are also driving the adoption of milk substitutes in the region.

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.