Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes market in Australia is seeing minimal growth due to factors such as consumer preference for traditional dairy products and limited availability of alternatives. Despite this, the convenience and health benefits of yogurt substitutes are expected to drive modest growth in the coming years.
Customer preferences: The Yogurt Substitutes Market in Australia is experiencing a growing demand for plant-based alternatives, driven by the rise of veganism and increasing health consciousness among consumers. This trend is also influenced by cultural preferences for plant-based diets, as well as concerns about animal welfare and sustainability. As a result, companies are launching innovative dairy-free yogurt substitutes made from ingredients such as coconut, almond, and cashew milk to cater to this growing segment of health-conscious consumers.
Trends in the market: In Australia, the Yogurt Substitutes Market is seeing a rise in plant-based yogurt alternatives, as consumers become more health-conscious and environmentally aware. This trend is expected to continue, with more dairy-free options entering the market. Additionally, there is a growing demand for low-sugar and high-protein yogurt substitutes, driven by the increasing popularity of vegan and flexitarian diets. These trends have significant implications for industry stakeholders, as they will need to adapt to changing consumer preferences and innovate to stay competitive in the market.
Local special circumstances: In Australia, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's strong focus on health and wellness. The market is driven by the increasing demand for plant-based and lactose-free options, as well as the growing trend of veganism. Additionally, the country's strict regulatory standards for food products ensure that only high-quality and natural ingredients are used in yogurt substitutes, making it a popular choice among health-conscious consumers. The unique cultural emphasis on a healthy lifestyle in Australia further contributes to the growth of this market.
Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market in Australia is influenced by macroeconomic factors such as consumer spending, population demographics, and government policies. As the country experiences strong economic growth and a rising middle class, consumers are increasingly looking for healthier alternatives to traditional dairy products. This, combined with government initiatives to promote healthy eating and reduce dairy consumption, is driving the demand for yogurt substitutes in the country. Additionally, the growing trend of plant-based diets and the increasing availability of non-dairy milk alternatives are also contributing to the growth of this 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.
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