Key regions: Japan, Philippines, United Kingdom, India, South Korea
The Other Dairy Products & Eggs Market in India is experiencing subdued growth, impacted by various factors such as changing consumer preferences, increasing health consciousness, and the convenience of online services. Despite this, the market is still expected to see significant growth due to rising demand for dairy alternatives and organic products.
Customer preferences: As the demand for healthier food options continues to rise in India, there has been a notable increase in the consumption of plant-based dairy alternatives such as almond milk and soy milk. This shift is driven by the growing awareness about the health benefits of plant-based diets and the rising number of individuals following vegetarian and vegan lifestyles. Additionally, the rise in lactose intolerance and dairy allergies has also contributed to the popularity of non-dairy milk alternatives in the country.
Trends in the market: In India, we are seeing a growing demand for plant-based dairy alternatives, such as almond and coconut milk, as consumers become more health-conscious and environmentally aware. This trend is expected to continue as the country's dairy industry faces challenges with pollution, animal welfare, and sustainability. This shift towards plant-based dairy products also presents opportunities for innovation and product diversification for industry players. Additionally, there is a rising demand for premium and artisanal dairy products, driven by an increase in disposable income and a growing preference for high-quality, natural products. This trend is expected to continue as consumers become more willing to pay a premium for products with unique flavors and nutritional benefits. Industry stakeholders should take note of these trends and adapt their product offerings accordingly to stay competitive in the market.
Local special circumstances: In the Other Dairy Products & Eggs Market of the Dairy Products & Eggs Market within The Food market, unique local factors such as the diverse cultural preferences for dairy products and the presence of multiple regulatory bodies significantly impact market dynamics. For example, in China, the increasing demand for high-quality dairy products has led to the implementation of strict product quality standards, while in the United States, consumer preference for organic and natural dairy products has resulted in a surge of niche dairy brands. Additionally, in Europe, the traditional dairy industry is facing competition from alternative dairy products made from plant-based ingredients due to a growing trend towards veganism and lactose intolerance.
Underlying macroeconomic factors: The Other Dairy Products & Eggs Market of the Dairy Products & Eggs Market within The Food market in India is significantly impacted by macroeconomic factors such as the country's rapid economic growth, favorable government policies, and increasing disposable income of consumers. These factors have led to a rise in demand for premium dairy products and eggs, driving market growth. Additionally, the presence of a large vegetarian population in India has also created a demand for alternative dairy products, such as plant-based milk and vegan eggs, further boosting market growth. Furthermore, the increasing health consciousness among consumers and the growing trend towards a healthy and balanced diet have also contributed to the growth of this market.
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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