Key regions: India, Canada, China, United States, Russia
The Milk Substitutes Market in the EU-27 is experiencing mild growth, influenced by factors such as increasing demand for dairy-free options, growing health consciousness, and the convenience of plant-based alternatives. This market's growth is driven by changing consumer preferences and the availability of a wide range of milk substitutes.
Customer preferences: Consumers are increasingly turning towards plant-based milk substitutes as a healthier and more sustainable alternative to traditional dairy products. This trend is being driven by a growing awareness of the environmental impact of dairy farming and a rise in vegan and vegetarian lifestyles. Additionally, the demand for lactose-free options is also on the rise, as more consumers are becoming aware of lactose intolerance and seeking dairy-free alternatives. This shift towards plant-based milk substitutes is expected to continue in the coming years, as consumers prioritize health and sustainability in their purchasing decisions.
Trends in the market: In the EU-27, the Milk Substitutes Market within the Dairy Products & Eggs Market of The Food market is experiencing a surge in demand for plant-based alternatives to traditional dairy products. This trend is driven by increasing health and environmental concerns, as well as dietary restrictions. As a result, companies are expanding their product offerings to include a variety of milk substitutes such as almond, soy, and oat milk. This shift towards plant-based milk substitutes is expected to continue in the coming years, presenting opportunities for industry stakeholders to capitalize on changing consumer preferences. Additionally, the rise of online grocery shopping and e-commerce platforms is making it easier for consumers to access these products, further fueling the growth of the market.
Local special circumstances: In EU-27, the Milk Substitutes Market within the Dairy Products & Eggs Market is influenced by various factors such as geographical diversity, cultural preferences, and strict regulatory policies. For instance, countries like France and Italy have a strong tradition of dairy consumption, making it challenging for milk substitutes to gain a foothold in these markets. On the other hand, countries like Germany and the UK have a higher demand for plant-based alternatives due to their health and environmental concerns. This diversity in preferences and regulations creates a dynamic market for milk substitutes in the EU-27.
Underlying macroeconomic factors: The Milk Substitutes Market in the Dairy Products & Eggs Market within The Food market is greatly impacted by macroeconomic factors such as consumer purchasing power, trade policies, and government regulations. Countries with stable economic conditions and favorable trade agreements tend to have higher demand for milk substitutes, while regions with economic instability and restrictive trade policies may experience slower market growth. Additionally, increasing health consciousness and dietary restrictions among consumers are driving the demand for plant-based milk alternatives, further influencing market performance.
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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