Key regions: Japan, Philippines, United Kingdom, India, South Korea
The Other Dairy Products & Eggs Market in The Food market of ASEAN has seen minimal growth due to factors such as low consumer awareness and limited online presence. However, with increasing health consciousness and technological advancements, the market is expected to experience steady growth in the coming years.
Customer preferences: As consumers become more health-conscious and environmentally aware, there is an increasing demand for plant-based and sustainable dairy alternatives. This trend is also driven by the rising concerns over animal welfare and the environmental impact of traditional dairy production. In addition, the popularity of vegan and vegetarian diets in Southeast Asia has also contributed to the growth of the Other Dairy Products & Eggs Market, with many consumers opting for plant-based alternatives for ethical and health reasons.
Trends in the market: In recent years, the Other Dairy Products & Eggs Market of the Dairy Products & Eggs Market within The Food market has seen a rise in the demand for alternative dairy products, such as plant-based milk and yogurt. This trend is driven by increasing health consciousness among consumers, as well as a growing population of individuals with lactose intolerance. As a result, major players in the industry are investing in research and development to expand their product offerings and cater to this evolving market. This shift towards alternative dairy products has significant implications for industry stakeholders, as it opens up new opportunities for growth and innovation in the market. Additionally, it also poses a threat to traditional dairy products, highlighting the need for adaptation and diversification in the dairy industry.
Local special circumstances: In ASEAN, the Other Dairy Products & Eggs market is heavily influenced by the region's diverse cultural and dietary practices. For example, in Indonesia, the consumption of dairy products is relatively low due to the prevalence of lactose intolerance in the population. This has resulted in the development of alternative dairy products, such as soy and coconut-based options, to cater to local preferences. In Thailand, the popularity of street food and traditional dishes has led to a high demand for eggs, creating a thriving market for egg producers. These unique local factors play a significant role in shaping the dynamics of the Other Dairy Products & Eggs market in ASEAN.
Underlying macroeconomic factors: The Other Dairy Products & Eggs Market within The Food market is affected by macroeconomic factors such as changing consumer preferences, government regulations, and economic stability. Countries with strong economic growth and stable political environments are likely to experience higher demand for alternative dairy products and eggs, as consumers become more health-conscious and seek out healthier options. Additionally, government initiatives aimed at promoting sustainable agriculture and reducing carbon footprint are also driving the market for plant-based dairy alternatives. Furthermore, the growing trend of veganism and dairy intolerance among consumers is expected to further propel the growth of the Other Dairy Products & Eggs Market in the ASEAN region and other countries.
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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