Milk Substitutes - Malawi

Malawi

Highlights

Revenue in the Milk Substitutes market amounts to US$1.09m in 2024. The market is expected to grow annually by 21.11% (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$0.05 are generated in 2024.
In the Milk Substitutes market, volume is expected to amount to 468.50k kg by 2029. The Milk Substitutes market is expected to show a volume growth of 22.3% in 2025.0.
The average volume per person in the Milk Substitutes market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Substitutes Market in Malawi has been rapidly growing, fueled by factors such as increasing health consciousness, rising demand for plant-based options, and the convenience of alternative milk products. This considerable growth is driven by the country's shift towards healthier and more sustainable food choices.

Customer preferences: Consumer demand for plant-based milk substitutes has seen a significant increase in Malawi, driven by a growing interest in health and wellness. This trend is particularly prominent among younger generations, who are increasingly seeking alternatives to traditional dairy products. This shift towards plant-based options is also influenced by cultural and dietary preferences, as well as concerns for animal welfare and the environment. As a result, the market for milk substitutes in Malawi is expected to continue to grow in the coming years, driven by changing consumer preferences and lifestyle factors.

Trends in the market: In Malawi, the Dairy Products & Eggs Market is experiencing a shift towards alternative milk products, with a growing demand for plant-based milk substitutes. This trend is driven by health and environmental concerns, as well as changing consumer preferences. As a result, companies in the industry are investing in research and development to improve the taste and nutritional value of these products. This trend is expected to continue, with the potential to disrupt the traditional dairy market and create new opportunities for industry players. Additionally, the rise of e-commerce and online grocery shopping in Malawi is also contributing to the growth of the milk substitutes market, as consumers have easier access to a wider variety of products. This trend is expected to have a significant impact on industry stakeholders, as they adapt to changing consumer preferences and market dynamics.

Local special circumstances: In Malawi, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's unique geography, which limits access to dairy farming. This has led to a higher demand for milk substitutes, such as soy and oat milk. Additionally, cultural preference for plant-based diets and government regulations promoting food security have further fueled the growth of the milk substitutes market in Malawi.

Underlying macroeconomic factors: The Milk Substitutes Market in Malawi is also affected by macroeconomic factors such as the country's economic stability, government policies, and overall consumer spending. In recent years, Malawi's economy has shown strong growth, driven by improvements in the agricultural sector and increased foreign investment. This has resulted in a rise in disposable income and a growing middle class, which has led to a higher demand for dairy products and milk substitutes. However, the market is also impacted by global economic trends, such as fluctuations in commodity prices and currency exchange rates, which can affect the cost of production and ultimately impact the prices of milk substitutes in the market. Additionally, government policies and regulations related to trade and imports can also have a significant impact on the market, as they can either facilitate or hinder the growth of the dairy industry and availability of milk substitutes in the country.

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.