Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes Market in BRICS is currently experiencing minimal growth, influenced by factors such as consumer preferences shifting towards healthier alternatives and the availability of a wide range of dairy-free options. This growth is expected to continue as health consciousness becomes more prevalent among consumers.
Customer preferences: The growing interest in plant-based diets and ethical consumption has led to a rise in demand for yogurt substitutes made from alternative ingredients such as coconut, almond, and soy. This shift is driven by health-conscious consumers seeking dairy-free options and those with lactose intolerance or allergies. Additionally, the trend towards sustainable and environmentally friendly choices has also contributed to the popularity of yogurt substitutes.
Trends in the market: In the BRICS countries, the Yogurt Substitutes Market within the Dairy Products & Eggs Market of The Food market is experiencing a shift towards plant-based alternatives, driven by health and environmental concerns. This trend is particularly prominent in Brazil, where consumers are increasingly opting for non-dairy yogurt substitutes made from soy, coconut, and almond milk. In India, there is a growing demand for vegan yogurt substitutes, while in China, there is a rise in the popularity of traditional yogurt substitutes like fermented soybean products. This shift towards non-dairy options is expected to have significant implications for industry stakeholders, as they adapt their product offerings to cater to changing consumer preferences. Additionally, the increasing availability and variety of yogurt substitutes is likely to drive market growth in the coming years.
Local special circumstances: In Brazil, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's rich agricultural resources and growing health consciousness among consumers. This has led to the emergence of a variety of plant-based yogurt substitutes, catering to the growing demand for dairy-free options. Additionally, Brazil's diverse cultural influences have also contributed to the development of unique flavors and varieties of yogurt substitutes, making it a highly dynamic and competitive market.
Underlying macroeconomic factors: The Yogurt Substitutes Market in the Dairy Products & Eggs Market within The Food market is significantly impacted by macroeconomic factors such as consumer purchasing power, changing dietary preferences, and government regulations. In countries with stable economic conditions and a growing health-conscious population, there is a rising demand for alternative dairy products such as yogurt substitutes. On the other hand, in regions with economic instability and a lack of regulatory support for dairy alternatives, the market growth is hindered. Furthermore, the increasing awareness about lactose intolerance and veganism is also driving the demand for yogurt substitutes, especially in developing countries with a large vegetarian population.
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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