Milk Substitutes - Zimbabwe

Zimbabwe

Highlights

Revenue in the Milk Substitutes market amounts to US$561.60k in 2024. The market is expected to grow annually by 6.15% (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$0.03 are generated in 2024.
In the Milk Substitutes market, volume is expected to amount to 248.70k kg by 2029. The Milk Substitutes market is expected to show a volume growth of 5.0% 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 Zimbabwe is experiencing minimal growth, influenced by factors such as limited consumer awareness and preference for traditional dairy products. However, the convenience of online shopping and the trend towards healthier lifestyles may contribute to future growth.

Customer preferences: In Zimbabwe, there has been a noticeable increase in the demand for plant-based milk substitutes, driven by the growing trend towards vegan and lactose-free diets. This shift in consumer preferences can be attributed to the rise of health-consciousness and ethical concerns, as well as the availability of a wide range of dairy-free options in the market. As more individuals adopt a plant-based lifestyle, the demand for milk substitutes is expected to continue growing.

Trends in the market: In Zimbabwe, the Milk Substitutes Market within the Dairy Products & Eggs Market is seeing a rise in plant-based milk alternatives, such as soy, almond, and coconut milk. This trend is being driven by an increasing number of consumers looking for healthier and more ethical options, as well as a growing lactose-intolerant population. These substitutes also offer a cheaper alternative to traditional dairy products. This trend is expected to continue, with potential implications for industry stakeholders, including dairy farmers and producers, who may need to adapt their production methods and offerings to cater to this changing market demand.

Local special circumstances: In Zimbabwe, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by unique local factors such as the country's economic challenges and limited access to dairy products. This has led to a rise in demand for milk substitutes, such as soy and almond milk, as affordable alternatives. Additionally, strict government regulations on dairy imports have also driven the growth of the milk substitutes market in Zimbabwe.

Underlying macroeconomic factors: The Milk Substitutes Market in Zimbabwe is greatly impacted by macroeconomic factors such as the country's economic health, global economic trends, fiscal policies, and other financial indicators. Zimbabwe's economic challenges, such as high inflation and foreign currency shortages, have a significant impact on the market's performance. Additionally, global trends in the dairy industry, such as increasing demand for plant-based milk substitutes, also influence the market. Fiscal policies, such as tariffs and taxes on imported dairy products, also play a role in shaping the market. Furthermore, the country's economic growth and stability can impact consumer purchasing power and overall demand for milk substitutes.

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.