Key regions: India, Canada, China, United States, Russia
The Milk Substitutes Market in GCC is experiencing mild growth due to factors like increasing health consciousness, convenience of online services and rising adoption of digital technologies. This has contributed to the overall growth of the Dairy Products & Eggs Market in The Food market.
Customer preferences: As consumers become more health-conscious and environmentally aware, there is a growing demand for plant-based milk substitutes in the GCC region. This is driven by changing dietary preferences, as well as concerns about the impact of dairy production on the environment. Additionally, the rise of veganism and lactose intolerance is fueling the demand for milk alternatives. This trend is expected to continue as consumers seek healthier and more sustainable options in the dairy market.
Trends in the market: In the GCC region, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is witnessing a rise in demand for plant-based alternatives. This trend is being driven by increasing health consciousness and dietary preferences towards vegan and vegetarian options. Additionally, there is a growing awareness about lactose intolerance and dairy allergies, leading to a shift towards non-dairy milk substitutes. This trend is expected to continue in the coming years, presenting opportunities for industry stakeholders to expand their product portfolio and cater to the changing consumer needs.
Local special circumstances: In the GCC region, the Milk Substitutes Market is experiencing growth due to the rising number of lactose-intolerant individuals and the increasing trend towards veganism. This is influenced by the cultural and religious practices in the region, where dairy consumption may be limited. Additionally, strict regulations on food imports and labeling requirements for non-dairy products create unique challenges for market players. These factors, along with a growing health-conscious population, are driving the demand for plant-based milk alternatives in the GCC.
Underlying macroeconomic factors: The Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is affected by several macroeconomic factors. These include fluctuations in global economic trends, national economic health, fiscal policies, and other financial indicators that can impact market performance. For instance, countries with stable economic growth and supportive policies for dairy substitutes tend to experience higher market growth compared to regions with economic uncertainties and restrictive regulations. Furthermore, the growing health consciousness and changing dietary patterns among consumers globally are driving the demand for milk substitutes, leading to market expansion.
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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