Key regions: Canada, Russia, United States, Japan, United Kingdom
The yogurt substitutes market in the Nordics food market is experiencing minimal growth, impacted by factors like increasing health consciousness and online convenience. Digital technologies are driving growth in the dairy products & eggs market.
Customer preferences: In the Nordics and Yogurt Substitutes Market, there has been a growing preference for plant-based alternatives to traditional dairy products, driven by a rise in vegan and flexitarian diets. This trend is further accelerated by increasing concerns over environmental sustainability and animal welfare. As a result, companies are innovating with non-dairy milk and yogurt substitutes made from oats, almonds, and coconut, appealing to health-conscious and ethically-minded consumers.
Trends in the market: In the Nordics, there is a growing demand for plant-based alternatives to traditional dairy products, including yogurt. This trend is driven by factors such as increasing health consciousness, environmental concerns, and dietary restrictions. As a result, there has been a surge in the availability and variety of yogurt substitutes made from ingredients like soy, coconut, and almond. This has also led to the development of innovative products such as vegan yogurt drinks and probiotic-rich non-dairy yogurts. With the rising popularity of these substitutes, there is a potential impact on the dairy industry as well as opportunities for new players and collaborations.
Local special circumstances: In the Nordic region, the Yogurt Substitutes Market is heavily influenced by the region's strong focus on health and wellness. With a high proportion of health-conscious consumers, there is a growing demand for plant-based yogurt alternatives and lactose-free options. Additionally, the region's strict regulations on food labeling and transparency have led to the emergence of niche products, such as vegan and organic yogurt substitutes, catering to specific dietary needs. Furthermore, the strong influence of Scandinavian cuisine, known for its use of fermented dairy products, has also shaped the market for yogurt substitutes, with a growing interest in traditional lacto-fermented foods like kefir and skyr.
Underlying macroeconomic factors: The Yogurt Substitutes Market in the Nordics is heavily influenced by macroeconomic factors such as consumer preferences, technological advancements, and government regulations. The region's strong economic health and high disposable income levels contribute to the growing demand for healthier and more sustainable food options. Moreover, the increasing trend towards plant-based diets and the rising awareness of lactose intolerance are driving the demand for yogurt substitutes in the region. Additionally, favorable government policies promoting sustainable food production and consumption are also expected to 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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