Key regions: Japan, Philippines, United Kingdom, India, South Korea
The Other Dairy Products & Eggs Market in Nordics is experiencing minimal growth, impacted by factors such as shifting consumer preferences towards plant-based alternatives and challenges in the production and distribution of dairy products during the COVID-19 pandemic.
Customer preferences: In the Other Dairy Products & Eggs Market within The Food market, there is a growing trend towards plant-based alternatives as consumers become more health-conscious and environmentally aware. This has led to a surge in demand for non-dairy milks, such as almond, soy, and oat milk, as well as vegan cheese and yogurt options. This shift is driven by cultural influences, as well as the increasing adoption of vegetarian and flexitarian diets.
Trends in the market: In the Nordics, the Other Dairy Products & Eggs Market within the Dairy Products & Eggs Market of The Food market is experiencing a shift towards plant-based alternatives, driven by increasing consumer demand for sustainable and healthier options. This trend is expected to continue, with major dairy companies investing in the development and promotion of these products. The rise of online grocery shopping and direct-to-consumer distribution models is also impacting the market, providing opportunities for smaller players to enter the market and reach a wider audience. This trend towards plant-based products and e-commerce has significant implications for industry stakeholders, requiring them to adapt their strategies and offerings to stay competitive in the evolving market landscape.
Local special circumstances: In the Nordics, the Other Dairy Products & Eggs Market is influenced by the region's strong focus on sustainability and health consciousness. This has led to a rise in demand for organic and plant-based dairy alternatives. Additionally, strict regulations and high standards for animal welfare have also shaped the market, with consumers willing to pay a premium for ethically produced products. The market is also highly competitive, with a strong presence of local and international players vying for market share.
Underlying macroeconomic factors: The growth of the Other Dairy Products & Eggs Market is heavily influenced by macroeconomic factors such as consumer purchasing power, trade policies, and government subsidies. Countries with strong economies and favorable trade agreements are experiencing higher market growth compared to regions with economic uncertainties and trade barriers. Additionally, the increasing health consciousness and demand for alternative protein sources are driving the demand for dairy alternatives and plant-based products in the 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
