Key regions: Russia, India, Canada, Japan, South Korea
The Milk Market in the Dairy Products & Eggs Market within The Food market in EMEA is experiencing minimal growth due to various factors such as changing consumer preferences, fluctuating milk prices, and increased competition from alternative milk products. Despite this, the market is still expected to grow steadily in the coming years.
Customer preferences: As consumers in EMEA become more health-conscious, there is a growing demand for plant-based milk alternatives. This trend is driven by a variety of factors, including environmental concerns and dietary restrictions. Additionally, there is a rising interest in locally produced and organic milk products, as consumers prioritize sustainability and traceability in their food choices. As a result, dairy companies are innovating and expanding their product portfolios to cater to these evolving consumer preferences.
Trends in the market: In EMEA, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing an increase in demand for organic and plant-based milk alternatives. This trend is driven by consumer concerns about animal welfare and environmental sustainability. Additionally, there is a growing focus on health and wellness, with consumers opting for milk products with added functional benefits. This trend is expected to continue as consumers become more health-conscious and seek out alternative milk options. Industry stakeholders should pay attention to this trend and adapt their product offerings accordingly to stay competitive.
Local special circumstances: 'In the EMEA region, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the cultural preferences for dairy consumption. This is particularly evident in countries like France, where cheese is a staple in their cuisine, and in countries like Greece and Turkey, where yogurt is a popular ingredient in many dishes. Additionally, regulatory restrictions on dairy imports in certain countries, such as Russia and China, have led to the development of local dairy industries to meet the demand for milk and other dairy products. These unique local factors contribute to the overall dynamics of the Milk Market in EMEA, making it distinct from other markets around the world.
Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market is heavily affected by macroeconomic factors in the EMEA region. Economic trends such as population growth, rising disposable incomes, and changing consumer preferences for dairy products are driving market growth. Furthermore, favorable trade policies and increasing investments in dairy farming are also contributing to market expansion. However, challenges such as fluctuating milk prices, changing dietary patterns, and environmental concerns are hindering market growth. Additionally, government regulations, trade tensions, and economic uncertainties in some countries are impacting market performance.
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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