Key regions: Russia, India, Canada, Japan, South Korea
In Argentina, the Milk Market within The Food market is experiencing subdued growth due to various factors such as low consumer awareness, limited access to digital technologies, and traditional purchasing habits. Despite this, the market is expected to grow steadily in the coming years due to increasing health consciousness and the convenience of online services.
Customer preferences: There has been a noticeable increase in demand for plant-based milk alternatives in Argentina's Milk Market of the Dairy Products & Eggs Market within The Food market. This trend is driven by consumers' growing interest in healthier and more sustainable options, as well as the country's significant lactose intolerance rates. The rise in vegan and vegetarian diets is also contributing to the popularity of these products, highlighting a shift towards more conscious and plant-based lifestyles among consumers.
Trends in the market: In Argentina, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards organic and sustainable production. This trend is driven by increasing consumer demand for healthier and ethically-produced food products. Industry stakeholders are adapting to these changes by investing in sustainable farming practices and expanding their organic product lines. This trajectory towards sustainability is significant as it not only satisfies consumer preferences but also aligns with global efforts towards sustainable food systems. It also presents opportunities for industry players to differentiate themselves and tap into the growing market for organic and sustainable dairy products.
Local special circumstances: In Argentina, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's strong dairy industry and its cultural preference for milk products. The government's subsidies for milk production also play a significant role, leading to a highly competitive market with a wide range of products. Additionally, the country's favorable climate and fertile land contribute to the high quality and availability of milk, making it a staple in the Argentinean diet. However, strict regulations on dairy imports limit competition from foreign companies, further strengthening the dominance of local producers in the market.
Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in Argentina is impacted by various macroeconomic factors. The country's economic health, government policies, and global economic trends play a crucial role in shaping the market's performance. Argentina's current economic crisis, high inflation rates, and currency devaluation have negatively affected consumer purchasing power and led to a decline in milk consumption. On the other hand, the growing population and rising demand for dairy products in the country present opportunities for market growth. Furthermore, the government's initiatives to boost the dairy industry and increase exports are expected to drive market growth in the coming years.
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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