Yogurt Substitutes - Armenia

Armenia

Highlights

Revenue in the Yogurt Substitutes market amounts to US$908.30k in 2024. The market is expected to grow annually by 8.36% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$470m in 2024).
In relation to total population figures, per person revenues of US$0.33 are generated in 2024.
In the Yogurt Substitutes market, volume is expected to amount to 119.50k kg by 2029. The Yogurt Substitutes market is expected to show a volume growth of 5.6% in 2025.0.
The average volume per person in the Yogurt Substitutes market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Yogurt Substitutes Market in Armenia is experiencing minimal growth due to factors such as low consumer awareness and limited availability of substitutes. However, the market is expected to grow as more consumers turn to healthier alternatives in the Dairy Products & Eggs Market within The Food market.

Customer preferences: As the popularity of plant-based diets continues to grow in Armenia, there has been an increase in demand for non-dairy yogurt substitutes made from ingredients such as coconut, almond, and soy. This trend is driven by health-conscious consumers seeking alternatives to traditional dairy products, as well as those with lactose intolerance or dairy allergies. The rising interest in these substitutes has also been fueled by the growing awareness of the environmental impact of dairy production.

Trends in the market: In Armenia, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards plant-based alternatives, driven by the growing demand for healthier and sustainable options. This trend is expected to continue, with more companies introducing new yogurt substitutes made from ingredients such as coconut, almond, and soy. This shift is significant for industry stakeholders, as it presents opportunities for diversification and innovation. It also has potential implications for traditional dairy producers, who may need to adapt their products to cater to changing consumer preferences.

Local special circumstances: In Armenia, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's rich dairy heritage and traditional yogurt consumption. However, with the rise of veganism and lactose intolerance, there is a growing demand for dairy-free alternatives. This has led to the emergence of locally produced yogurt substitutes made from ingredients such as soy, almond, and coconut milk. Additionally, strict regulations on dairy products and import restrictions have also played a role in shaping the market dynamics for yogurt substitutes in Armenia.

Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market in Armenia is heavily influenced by macroeconomic factors such as economic stability, government policies, and consumer purchasing power. With the country's economy experiencing growth in recent years, consumers are increasingly able to afford premium and healthier food options, including yogurt substitutes. Additionally, government initiatives promoting healthy eating habits and the rising awareness of lactose intolerance are driving the demand for yogurt substitutes in the country. Furthermore, the increasing trend of veganism and the availability of dairy-free options in the market are also contributing to the growth of the yogurt substitutes market in Armenia.

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.