Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes Market in Mongolia is experiencing minimal growth, influenced by factors such as consumer preference for traditional dairy products and limited awareness of alternative options. Convenience and health consciousness may drive future growth.
Customer preferences: As consumers become more health-conscious, there is a growing demand for dairy-free and plant-based yogurt substitutes in Mongolia. This trend is driven by the increasing prevalence of lactose intolerance and the rising popularity of vegan diets. Additionally, the demand for yogurt substitutes is also influenced by the growing interest in sustainable and ethical food choices among younger generations. As a result, companies are offering a variety of non-dairy options made from ingredients like coconut, soy, and almond milk to cater to this evolving consumer preference.
Trends in the market: In Mongolia, the Yogurt Substitutes Market is experiencing a shift towards plant-based alternatives, driven by the growing demand for dairy-free options and health concerns over the consumption of animal-based products. This trend is expected to continue as more consumers adopt a vegan or flexitarian lifestyle. Additionally, there is a rising interest in traditional Mongolian dairy substitutes, such as airag and tarag, which are made from fermented mare's milk and camel's milk respectively. These trends have significant implications for industry stakeholders, who may need to adapt their product offerings and marketing strategies to cater to the changing consumer preferences. Furthermore, this shift towards alternative dairy products may also present opportunities for new entrants in the market.
Local special circumstances: In Mongolia, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by the nomadic lifestyle of the population, where traditional dairy products like airag (fermented mare's milk) are staples. This has led to a unique market for dairy alternatives, such as plant-based yogurts, as well as a growing demand for probiotic-rich beverages. Additionally, the country's harsh climate and limited access to fresh produce have created a demand for fortified yogurt substitutes, providing added nutritional value to the local diet.
Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market in Mongolia is affected by macroeconomic factors such as the country's economic growth, government policies, and global economic trends. Mongolia's rapidly growing economy, driven by industries such as mining and agriculture, has resulted in an increase in disposable income and consumer spending. This has led to a rise in demand for healthier food alternatives, including yogurt substitutes. Furthermore, favorable government policies promoting the consumption of dairy products for improved health and nutrition have also contributed to the growth of the market. On a global level, increasing awareness of lactose intolerance and dairy allergies has led to a higher demand for yogurt substitutes, driving market growth in Mongolia as well.
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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