Milk Substitutes - North Macedonia

North Macedonia

Highlights

Revenue in the Milk Substitutes market amounts to US$1.52m in 2024. The market is expected to grow annually by 20.71% (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$0.73 are generated in 2024.
In the Milk Substitutes market, volume is expected to amount to 1.32m kg by 2029. The Milk Substitutes market is expected to show a volume growth of 21.7% in 2025.0.
The average volume per person in the Milk Substitutes market is expected to amount to 0.3kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Substitutes Market in North Macedonia is experiencing steady growth due to the rising demand for non-dairy alternatives, the health consciousness of consumers, and the convenience of online purchasing. This market is expected to maintain its average growth rate, influenced by increasing health concerns and the availability of a diverse range of milk substitutes.

Customer preferences: As the demand for healthier and more sustainable options grows, consumers in North Macedonia are increasingly turning to plant-based milk substitutes. This trend is influenced by cultural values and the rise of conscious consumerism, with individuals seeking to reduce their environmental impact and improve their overall well-being. This has led to a surge in the popularity of alternatives such as almond, soy, and oat milk, which are perceived as healthier and more environmentally friendly alternatives to traditional dairy products. Additionally, the growing vegan and vegetarian movements in the country have also contributed to the shift towards plant-based milk substitutes.

Trends in the market: In North Macedonia, 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. This trend is driven by a growing consumer preference for healthier and more sustainable options, as well as an increase in lactose intolerance and dairy allergies. As a result, companies are investing in innovative formulations and expanding their product portfolios, while retailers are dedicating more shelf space to these products. This trend is expected to continue, with the market projected to grow significantly in the coming years. Industry stakeholders should take note of this trend and adapt their strategies to meet the evolving demands of consumers.

Local special circumstances: In North Macedonia, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's mountainous terrain and its traditional dairy-based cuisine. This has led to a demand for milk alternatives, such as soy and almond milk, as well as a growing market for plant-based dairy products. Additionally, the country's accession to the European Union has led to stricter regulations for food safety and labeling, impacting the market dynamics for milk substitutes.

Underlying macroeconomic factors: The growth of the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market in North Macedonia is heavily influenced by macroeconomic factors such as consumer preferences, government policies, and economic stability. The country's increasing health consciousness and rising demand for plant-based alternatives are driving the demand for milk substitutes. Additionally, favorable government policies and investments in the food industry are creating a conducive environment for market growth. However, economic challenges and fluctuations in global commodity prices may pose a risk 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.