Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes Market in Southern Africa is experiencing minimal growth, impacted by factors such as consumer preference for traditional dairy products and lack of awareness about alternative options. Despite this, the market is expected to see slow but steady growth due to increasing health consciousness among consumers.
Customer preferences: As health and wellness continue to gain importance in Southern Africa, consumers are gravitating towards healthier alternatives to traditional dairy products. This has led to a rise in demand for yogurt substitutes made from plant-based ingredients such as soy, almond, and coconut milk. This shift is driven by a growing preference for vegan and lactose-free options, as well as concerns over animal welfare and sustainability. Additionally, the increasing availability of these substitutes in both physical and online retail channels has made them more accessible to a wider consumer base.
Trends in the market: In Southern Africa, the Yogurt Substitutes Market within the Dairy Products & Eggs Market is experiencing a shift towards plant-based alternatives due to the increasing demand for healthier and more sustainable options. This trend is also being driven by the rising number of lactose intolerant and vegan consumers. With the growing popularity of plant-based diets, the market is expected to witness a significant growth trajectory in the coming years. This presents opportunities for industry stakeholders to expand their product offerings and cater to this emerging segment of health-conscious consumers. Additionally, the shift towards more sustainable and ethical food choices aligns with global efforts towards environmental conservation and animal welfare. Thus, companies that embrace this trend may also benefit from a positive brand image and increased customer loyalty.
Local special circumstances: In Southern Africa, the Yogurt Substitutes Market within the Dairy Products & Eggs Market is influenced by the region's diverse cultural and dietary preferences. Traditional fermented milk products, such as maas and amasi, are popular substitutes for yogurt. Additionally, the market is impacted by the region's limited access to refrigeration, leading to a demand for shelf-stable yogurt alternatives. The growing trend towards veganism and lactose intolerance also drives the market for plant-based yogurt substitutes, such as soy and coconut yogurt.
Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market in Southern Africa is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The region's economic growth and stability, as well as government initiatives and policies related to the food industry, play a significant role in shaping the market. Additionally, consumer spending power, consumer preferences, and demographic trends also impact market performance. The increasing health consciousness and demand for plant-based and non-dairy alternatives in the region are also driving the growth of the yogurt substitutes 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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