Yogurt Substitutes - NAFTA

NAFTA

Highlights

Revenue in the Yogurt Substitutes market amounts to US$537.10m in 2024. The market is expected to grow annually by 6.00% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$470m in 2024).
In relation to total population figures, per person revenues of US$1.05 are generated in 2024.
In the Yogurt Substitutes market, volume is expected to amount to 66.81m kg by 2029. The Yogurt Substitutes market is expected to show a volume growth of 6.0% in 2025.0.
The average volume per person in the Yogurt Substitutes market is expected to amount to 0.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Yogurt Substitutes market in NAFTA is experiencing minimal growth due to various factors such as increasing health consciousness among consumers, convenience offered by online services, and rising adoption of digital technologies. However, this growth is being impacted by the high competition and availability of traditional yogurt products in the market.

Customer preferences: Consumers are increasingly looking for healthier and more sustainable food options, leading to a rise in demand for yogurt substitutes made from plant-based ingredients. This shift is driven by growing awareness of the environmental impact of animal agriculture and a desire for alternative sources of protein. Additionally, the trend towards clean labels and natural ingredients is influencing purchasing decisions in the Yogurt Substitutes Market, with consumers seeking products that align with their values and dietary preferences.

Trends in the market: In the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market, there is a noticeable trend towards plant-based alternatives, driven by increasing consumer demand for healthier and environmentally-friendly options. This trend is expected to continue as more consumers shift towards flexitarian and vegan diets. This has led to the launch of innovative products, such as coconut, almond, and soy-based yogurts, catering to the growing demand for dairy-free options. This trend also presents opportunities for industry stakeholders to diversify their product offerings and tap into the growing market for plant-based alternatives.

Local special circumstances: In Mexico, the Yogurt Substitutes Market is influenced by the country's strong dairy industry and the availability of alternative plant-based options. The market is also affected by the cultural preference for fresh, locally sourced products, leading to the popularity of artisanal yogurt substitutes. Additionally, regulatory factors, such as the recently implemented front-of-package labeling laws, have impacted the marketing and labeling strategies of yogurt substitute brands in the market.

Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by macroeconomic factors such as consumer preferences, government regulations, and economic policies. Countries with a high demand for healthy and plant-based alternatives are experiencing significant growth in the yogurt substitutes market. Additionally, favorable government regulations promoting plant-based diets and investments in sustainable food production are driving market growth. On the other hand, regions with limited consumer awareness and strict regulations on food labeling and marketing are facing challenges in market penetration. Moreover, economic policies such as subsidies and taxes on dairy products can also impact the demand and production of yogurt substitutes in the 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.