Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes market in China's Dairy Products & Eggs Market within The Food market is experiencing minimal growth due to various factors such as increasing health consciousness and convenience of online services. This growth is impacted by competition within the market and changing consumer preferences.
Customer preferences: Consumers in China are increasingly seeking alternative dairy products due to concerns over lactose intolerance and dairy allergies. This has led to a rise in demand for yogurt substitutes made from plant-based ingredients such as soy, almond, and coconut. The trend towards plant-based diets, driven by health and environmental concerns, has also contributed to the growth of the yogurt substitutes market. Additionally, the popularity of dairy-free diets among younger consumers, influenced by social media and health influencers, has further fueled the demand for yogurt substitutes. This shift towards non-dairy options is expected to continue, with manufacturers expanding their offerings to cater to this growing segment.
Trends in the market: In recent years, the Yogurt Substitutes Market in China has seen a surge in demand for plant-based alternatives, driven by the increasing popularity of vegan and vegetarian diets. This trend is expected to continue, with the market projected to grow at a CAGR of 8.6% from 2020 to 2025. This shift towards healthier and more sustainable options is significant for industry stakeholders, as it presents opportunities for expansion and diversification of product offerings. Additionally, the rise of health and wellness trends in China, such as the use of fitness apps and online health consultations, could potentially drive further growth in the Yogurt Substitutes Market, as consumers seek out alternative options for their dietary needs.
Local special circumstances: In China, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's large population and growing middle class. As consumers become more health-conscious, there is a rising demand for dairy-free alternatives such as soy, almond, and coconut-based yogurts. Additionally, strict regulations on dairy imports have also led to the popularity of domestic yogurt substitutes. Cultural factors, such as lactose intolerance and traditional Chinese medicine beliefs, also play a role in shaping the market.
Underlying macroeconomic factors: The Yogurt Substitutes Market in China is heavily influenced by macroeconomic factors such as the country's economic growth, consumer purchasing power, and government policies. China's growing middle class and increasing disposable income have led to a growing demand for healthier and more convenient food options, driving the growth of the yogurt substitutes market. Additionally, the Chinese government's initiatives to promote healthy eating habits and reduce dairy consumption have also played a significant role in shaping the market. Furthermore, the growing trend of plant-based diets and the increasing awareness of lactose intolerance are also contributing to the demand for yogurt substitutes in China.
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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