Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes market in Algeria is experiencing negligible growth due to factors such as consumer preference for traditional dairy products and limited availability of substitute options. However, with increasing health consciousness and the convenience of online shopping, the market is expected to witness slow but steady growth.
Customer preferences: As consumers in Algeria become more health-conscious, there has been a noticeable increase in demand for alternative yogurt options, such as plant-based and lactose-free alternatives. This is driven by cultural preferences for non-dairy products and a growing awareness of digestive health. Additionally, the trend towards healthier snacks has led to the popularity of yogurt substitutes, as they are perceived as a healthier option compared to traditional yogurt.
Trends in the market: In Algeria, the Yogurt Substitutes Market is experiencing a shift towards plant-based alternatives, driven by increasing health consciousness and dietary restrictions. This trend is expected to continue, with the market projected to grow at a CAGR of 9.7% from 2020 to 2025. This trajectory is significant as it presents opportunities for industry stakeholders to diversify their product offerings and cater to a growing demand for dairy-free options. Additionally, this trend has implications for the traditional dairy industry, as it may face competition and potential shifts in consumer preferences. Overall, the rising popularity of yogurt substitutes in Algeria reflects a global trend towards plant-based and healthier food options, which is expected to continue driving market growth in the coming years.
Local special circumstances: In Algeria, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's cultural preferences for dairy products. Due to a large Muslim population, there is a high demand for halal-certified products, leading to the popularity of plant-based yogurt substitutes made from ingredients like coconut or almond milk. Additionally, government regulations on dairy production and imports have also impacted the availability and pricing of yogurt substitutes in the market.
Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market in Algeria is influenced by various macroeconomic factors. The country's economic health, fiscal policies, and global economic trends impact the market performance significantly. Algeria's economy has been experiencing steady growth, with rising GDP and increasing disposable income. This has led to a growing demand for healthier food options, including yogurt substitutes. Additionally, the government's initiatives to promote domestic food production and reduce imports have also positively influenced the market, creating opportunities for local producers. However, challenges such as limited access to credit and high production costs due to inflation continue to hinder market growth.
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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