Key regions: Russia, India, Canada, Japan, South Korea
The Milk Market in China is facing subdued growth due to various factors, such as declining birth rates and changing dietary preferences. Despite this, the market is still experiencing significant growth, driven by increasing demand for dairy products and the convenience of online shopping.
Customer preferences: As China continues to experience rapid urbanization and economic growth, consumer preferences are shifting towards healthier and more convenient food options. This has led to a surge in demand for milk and dairy products, as they are perceived as a nutritious and convenient source of protein. Additionally, with the rise of e-commerce and online grocery shopping, consumers are increasingly turning to online platforms to purchase their dairy products, highlighting a growing trend towards digital consumption in The Food market.
Trends in the market: In China, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards plant-based milk alternatives, driven by increasing awareness of health benefits and environmental concerns. This trend is expected to continue, with the market projected to reach a value of $14.7 billion by 2025. This presents opportunities for industry stakeholders to diversify their product offerings and tap into the growing demand for alternative dairy products. However, it also poses a threat to traditional dairy producers, who may need to adapt their strategies to remain competitive in the evolving market landscape.
Local special circumstances: In China, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's large population and shifting dietary preferences. With the rise of the middle class and urbanization, there is a growing demand for high-quality dairy products, especially among the younger generation. Additionally, the Chinese government's efforts to improve food safety and regulate the dairy industry have also impacted the market dynamics. The country's unique cultural and regulatory landscape shapes the consumption patterns and production strategies in the Milk Market, making it distinct from other markets.
Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in China is influenced by several macroeconomic factors. One major factor is the country's economic growth, which has been steadily increasing over the years. This has led to a rise in disposable income and consumer spending, driving the demand for dairy products. Additionally, government policies promoting dairy farming and investments in the dairy industry have also played a significant role in market growth. Furthermore, China's growing population and changing dietary habits, with a shift towards a more Western diet, have also contributed to the increasing demand for milk and other dairy products.
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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