Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes Market in Asia is experiencing minimal growth due to factors such as increasing health consciousness and availability of online services. This market is part of the Dairy Products & Eggs Market in The Food market, which is impacted by changing consumer preferences and competition from traditional dairy products.
Customer preferences: As Asian consumers become more health-conscious and environmentally aware, there has been a growing interest in plant-based yogurt alternatives. This trend is driven by the desire for healthier and more sustainable food options, as well as the rise of veganism and lactose intolerance. Additionally, the increasing availability of non-dairy milk options, such as almond, soy, and coconut milk, has contributed to the popularity of yogurt substitutes in the Dairy Products & Eggs Market within The Food market.
Trends in the market: In Asia, there is a growing demand for plant-based yogurt substitutes, driven by a rise in health-conscious consumers and increasing awareness of lactose intolerance. This trend is expected to continue as more consumers adopt a vegetarian or vegan lifestyle. Furthermore, there is a growing preference for dairy-free products among those with allergies or dietary restrictions, creating a niche market for yogurt alternatives. This trend has significant implications for industry stakeholders, as it presents opportunities for innovation and diversification. Additionally, the rise of e-commerce and digital marketing in Asia has made it easier for companies to reach and engage with this target market.
Local special circumstances: In China, the yogurt substitutes market is heavily influenced by the country's large lactose-intolerant population. This has led to the development of alternative dairy products made from soy, almonds, and other plant-based sources. In Japan, the market is driven by the country's cultural preference for fermented foods and the popularity of traditional alternatives to dairy, such as tofu and miso. Additionally, strict regulations on dairy imports have created a demand for locally-produced yogurt substitutes.
Underlying macroeconomic factors: The demand for yogurt substitutes in the Dairy Products & Eggs Market within The Food market in Asia is heavily influenced by macroeconomic factors such as economic growth, consumer spending power, and government policies. Countries with strong economic growth and rising disposable incomes, such as China and India, are experiencing higher demand for yogurt substitutes as consumers seek healthier and more affordable alternatives to traditional dairy products. Additionally, government initiatives to promote health and wellness, such as subsidies for plant-based products, are further driving market growth in the region. However, economic challenges and regulatory barriers in some countries may hinder the adoption of yogurt substitutes, limiting 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.
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)
