Key regions: Spain, Canada, United Kingdom, United States, Philippines
The Dairy Products & Eggs Market in North America has seen steady growth due to factors such as increasing health consciousness, convenience of online services, and rising adoption of digital technologies. However, the market's minimal growth rate may be impacted by factors such as competition from plant-based substitutes and changing consumer preferences.
Customer preferences: In recent years, there has been a growing demand for plant-based dairy alternatives, driven by the rising popularity of vegan and flexitarian diets. This shift in consumer preferences is also influenced by concerns over animal welfare and the environmental impact of traditional dairy production. As a result, companies are launching new dairy-free products and expanding their plant-based offerings to cater to these changing dietary preferences.
Trends in the market: In North America, the Dairy Products & Eggs market is experiencing a shift towards plant-based alternatives, driven by increasing consumer demand for healthier and more environmentally sustainable options. This trend is expected to continue as consumers become more conscious of their food choices and seek out alternatives to traditional animal-derived products. Additionally, there is a growing trend of online grocery shopping, providing consumers with convenient access to a wider range of dairy and egg products. These trends have significant implications for industry stakeholders, with the potential for increased competition and the need to adapt to changing consumer preferences. In order to remain competitive, companies in the Dairy Products & Eggs market will need to diversify their product offerings and invest in sustainable and innovative production methods.
Local special circumstances: In North America, the Dairy Products & Eggs Market is heavily influenced by cultural preferences and dietary habits. The consumption of dairy products and eggs is deeply ingrained in the American and Canadian diets, leading to a steady demand for these products. Additionally, stringent regulations on food safety and quality assurance in North America ensure that dairy and egg products meet the highest standards, making them highly sought after in the region. This, coupled with the growing trend of health-conscious consumers opting for organic and free-range options, drives the growth of the Dairy Products & Eggs Market in North America.
Underlying macroeconomic factors: The Dairy Products & Eggs Market in North America is influenced by macroeconomic factors such as consumer spending, trade policies, and government subsidies. With a growing population and increasing disposable income, consumers are more likely to purchase dairy products and eggs, driving market growth. Trade policies and subsidies can also impact market performance, as they can affect the cost of production and import/export of these products. Additionally, government regulations and consumer preferences for healthier and sustainable food options are driving the demand for organic and plant-based dairy and egg 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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