Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes Market in the GCC is experiencing minimal growth, influenced by factors such as consumer preference for traditional dairy products and lack of awareness about yogurt substitutes. However, the convenience of online shopping and increasing health consciousness may drive future growth.
Customer preferences: As consumers become more health-conscious and eco-friendly, there has been a growing demand for plant-based yogurt substitutes in the GCC and Yogurt Substitutes Market. This trend is driven by the rise in veganism and lactose intolerance, as well as a preference for sustainable and clean label products. As a result, companies are innovating with non-dairy alternatives such as coconut, almond, and soy-based yogurts to cater to these changing consumer preferences.
Trends in the market: In the GCC region, the Yogurt Substitutes Market within the Dairy Products & Eggs Market is experiencing a shift towards plant-based options, driven by the growing demand for healthier and more sustainable products. This trend is expected to continue, with companies investing in research and development to improve the taste and texture of these substitutes. Additionally, there is a rise in lactose intolerance and dairy allergies, leading consumers to seek out alternative options. This shift towards non-dairy alternatives has significant implications for industry stakeholders, who must adapt their products and marketing strategies to cater to this emerging trend.
Local special circumstances: In the GCC region, the Yogurt Substitutes Market is largely driven by the growing health consciousness among consumers and the increasing popularity of vegan diets. This has led to a rise in demand for non-dairy yogurt alternatives such as coconut, almond, and soy-based yogurts. Additionally, the market is also influenced by strict regulations pertaining to dairy products, leading to a surge in demand for plant-based options. In contrast, in the Yogurt Substitutes Market in Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market, the market is driven by the growing demand for lactose-free and low-fat options, as well as the increasing availability of innovative and exotic flavors.
Underlying macroeconomic factors: In the GCC and Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market, macroeconomic factors such as economic stability, government policies, and consumer spending power have a significant impact on market growth. Countries with stable economies and favorable fiscal policies, along with a growing demand for healthier and more sustainable food options, are experiencing a rise in the demand for yogurt substitutes. On the other hand, countries with economic challenges and high inflation rates may see slower market growth due to limited consumer purchasing power and a preference for more affordable options. Additionally, increasing health consciousness and a desire for plant-based products in both developed and developing countries are driving the demand for yogurt substitutes in the global 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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