Milk Substitutes - Suriname

Suriname

Highlights

Revenue in the Milk Substitutes market amounts to US$212.10k in 2024. The market is expected to grow annually by 15.80% (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$0.34 are generated in 2024.
In the Milk Substitutes market, volume is expected to amount to 115.70k kg by 2029. The Milk Substitutes market is expected to show a volume growth of 18.3% in 2025.0.
The average volume per person in the Milk Substitutes market is expected to amount to 0.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Substitutes Market in Suriname is experiencing average growth, driven by factors such as increasing health consciousness and the convenience of online services. This market's growth rate is impacted by consumer preferences and shifting dietary trends.

Customer preferences: As consumers become more health-conscious and environmentally aware, there is a growing demand for plant-based milk substitutes in Suriname. This trend is driven by a desire for healthier and more sustainable food options, as well as cultural preferences for plant-based diets. Additionally, the rise of veganism and lactose intolerance among Surinamese consumers is fueling the growth of the milk substitutes market. These factors are expected to continue driving the market in the future.

Trends in the market: In Suriname, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards plant-based milk alternatives, such as almond, soy, and oat milk. This trend is driven by consumer demand for healthier and more sustainable options, as well as concerns over lactose intolerance and animal welfare. The trajectory of this trend suggests that milk substitutes will continue to gain popularity, posing a potential threat to traditional dairy producers. As a result, industry stakeholders may need to adapt their strategies and offerings to remain competitive in the market.

Local special circumstances: In Suriname, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's small population and its strong reliance on agriculture. The limited availability of dairy products in the country has led to a higher demand for milk substitutes, such as soy and almond milk. Additionally, cultural factors, such as a growing interest in plant-based diets, have also contributed to the growth of this market. The absence of strict regulations in the country also allows for easier access to these substitutes and encourages their consumption.

Underlying macroeconomic factors: The Milk Substitutes Market in Suriname is impacted by various macroeconomic factors, including the country's economic health and global economic trends. The national economy of Suriname has been growing steadily in recent years, with a strong focus on diversifying its industries and attracting foreign investment. This has created a favorable business environment for the Dairy Products & Eggs Market, including the Milk Substitutes Market. Additionally, Suriname's fiscal policies, such as tax incentives and subsidies, have also contributed to the growth of the market. Furthermore, global economic trends, such as the increasing demand for plant-based and alternative dairy products, have also influenced the growth of the Milk Substitutes Market in Suriname. As consumers become more health-conscious and environmentally aware, the demand for milk substitutes is expected to continue to rise, creating opportunities for market growth in Suriname.

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.