Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes Market within the Dairy Products & Eggs Market in the G7 region is experiencing minimal growth rate, impacted by factors such as increasing consumer health consciousness and the convenience of online health services.
Customer preferences: With the rise of health-consciousness and dietary preferences, there has been a growing demand for alternative options in the dairy market, specifically in the yogurt substitutes segment. More consumers are opting for plant-based alternatives, such as soy, almond, and coconut-based yogurt, due to health concerns, ethical reasons, or taste preferences. This trend is also influenced by the increasing number of individuals following vegan or lactose-free diets. As a result, the yogurt substitutes market is witnessing a significant growth, with manufacturers introducing innovative and diverse products to cater to this evolving consumer demand.
Trends in the market: In the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market, there is a growing trend towards plant-based options as consumers become more health-conscious and environmentally aware. This trend is expected to continue, with an increasing number of dairy-free and vegan yogurt substitutes entering the market. Additionally, there is a rising demand for non-dairy yogurt substitutes that are lower in sugar and calories, catering to the growing number of consumers looking for healthier alternatives. This trend has significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in innovative product offerings to stay competitive in the market.
Local special circumstances: In the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market, geographical and cultural factors play a significant role in market dynamics. In countries like Japan and South Korea, where dairy consumption is low, the demand for non-dairy yogurt alternatives is driven by the increasing popularity of vegan and plant-based diets. In the United States, the market is driven by health-conscious consumers looking for lactose-free and gluten-free options, while in Europe, the demand for yogurt substitutes is influenced by the growing trend of flexitarianism and ethical consumerism. Additionally, regulatory factors, such as the ban on animal-derived ingredients in certain regions, also impact the availability and sales of yogurt substitutes.
Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is impacted by macroeconomic factors such as changing dietary preferences, increasing health awareness, and rising demand for plant-based products. Additionally, the growing trend of veganism and lactose intolerance is driving the demand for yogurt substitutes. The market is also influenced by global economic trends, with regions experiencing higher economic growth and increasing disposable income levels showing higher demand for yogurt substitutes. Moreover, favorable government policies and investment in the food industry are expected to further boost 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.
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