Yogurt Substitutes - Southeast Asia

Southeast Asia

Highlights

Revenue in the Yogurt Substitutes market amounts to US$96.50m in 2024. The market is expected to grow annually by 4.68% (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$0.14 are generated in 2024.
In the Yogurt Substitutes market, volume is expected to amount to 9.69m kg by 2029. The Yogurt Substitutes market is expected to show a volume growth of 3.5% in 2025.0.
The average volume per person in the Yogurt Substitutes market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Yogurt Substitutes Market in Southeast Asia is currently experiencing minimal growth due to factors such as shifting consumer preferences towards plant-based alternatives, increasing health consciousness, and the convenience of online purchasing. Despite this slow growth rate, the market is expected to continue expanding in the coming years.

Customer preferences: The growing demand for plant-based and dairy-free options in Southeast Asia has led to a rise in popularity of yogurt substitutes. This trend is driven by the increasing number of individuals adopting a vegan or vegetarian diet, as well as those with lactose intolerance. Additionally, the trend towards clean eating and health-consciousness has also contributed to the demand for yogurt substitutes, as they are perceived as a healthier alternative to traditional dairy products.

Trends in the market: In Southeast Asia, the Yogurt Substitutes Market within the Dairy Products & Eggs Market is experiencing a surge in demand for plant-based alternatives. This trend is driven by increasing health consciousness and environmental concerns, as well as a growing vegan population. Additionally, there is a rising preference for lactose-free options, leading to the popularity of coconut, almond, and soy-based yogurts. These trends are expected to continue, with a focus on incorporating local, traditional ingredients and flavors. This presents opportunities for industry stakeholders to innovate and diversify their product offerings to cater to changing consumer preferences.

Local special circumstances: In Southeast Asia, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the region's diverse cultural and dietary preferences. For instance, in Thailand, the market is driven by the popularity of plant-based alternatives among Buddhist consumers. In Indonesia, the market is shaped by the country's large Muslim population, resulting in a demand for halal-certified yogurt substitutes. Additionally, regulatory policies and import restrictions also play a significant role in shaping the market dynamics in each country.

Underlying macroeconomic factors: The growth of the Yogurt Substitutes Market within the Dairy Products & Eggs Market in Southeast Asia is significantly impacted by various macroeconomic factors. These include the overall economic trends in the region, the health of national economies, fiscal policies, and other financial indicators that affect market performance. With the rise of health consciousness and dietary restrictions, consumers are increasingly turning to yogurt substitutes as a healthier alternative. This trend is further supported by the growing middle-class population, rising disposable incomes, and changing lifestyles in Southeast Asia. Additionally, government initiatives promoting healthy eating habits and the increasing availability of dairy-free options are further driving the demand for yogurt substitutes in the region.

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.