Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes Market in APAC is experiencing minimal growth, influenced by factors such as the shift towards plant-based diets and the increasing availability of dairy-free options. Rising health consciousness and convenience are also contributing to market growth.
Customer preferences: With the rise of health consciousness and the growing popularity of plant-based diets, the Yogurt Substitutes Market in APAC is witnessing a shift towards non-dairy alternatives such as soy, almond, and coconut yogurt. This trend is driven by consumers’ increasing concerns about sustainability, animal welfare, and personal health. As a result, dairy-free yogurt options are gaining traction, particularly among lactose-intolerant and vegan consumers. This shift towards non-dairy yogurt substitutes is expected to continue as cultural values and lifestyle choices continue to shape consumer preferences.
Trends in the market: In the APAC region, there is a growing trend of consumers seeking healthier and more sustainable alternatives to traditional dairy products like yogurt. This has led to an increase in demand for yogurt substitutes made from plant-based ingredients such as coconut, almond, and soy. This trend is being driven by factors such as increased health consciousness, concerns over animal welfare, and environmental sustainability. Industry stakeholders in the Yogurt Substitutes Market of the Dairy Products & Eggs Market are taking note of this trend and are investing in research and development to create more innovative and appealing plant-based yogurt substitutes to meet the evolving consumer demand. This shift towards plant-based yogurt substitutes has the potential to disrupt the traditional dairy industry and create new opportunities for growth and profitability.
Local special circumstances: In Japan, the Yogurt Substitutes market is driven by consumer preferences for lactose-free options and the rising popularity of plant-based diets. The country's aging population and high rates of lactose intolerance also contribute to the demand for yogurt substitutes. In China, the market is influenced by traditional beliefs in the health benefits of fermented foods, leading to the popularity of soy and coconut-based yogurt alternatives. Additionally, government initiatives promoting dairy alternatives as part of a healthy and sustainable diet have further fueled market growth.
Underlying macroeconomic factors: The Yogurt Substitutes Market in the APAC region is heavily impacted by macroeconomic factors such as consumer preferences, government regulations, and economic growth. With the increasing health consciousness and rising demand for alternative dairy products, the market is expected to experience significant growth. However, the performance of the market is also influenced by factors such as economic stability, trade policies, and disposable income levels. As the region continues to witness economic growth and favorable regulatory environments, the demand for yogurt substitutes is expected to further increase, driven by the growing trend of plant-based diets and rising health concerns.
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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