Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes market in Southern Europe has been steadily growing, with minimal growth rate due to factors such as shifting consumer preferences towards plant-based options, increasing health consciousness, and the convenience of dairy-free alternatives.
Customer preferences: As consumers become more health-conscious, there is a growing demand for plant-based yogurt substitutes in Southern Europe. This trend is driven by a rise in veganism and lactose intolerance, as well as a preference for natural and clean label products. Additionally, with the increasing popularity of Mediterranean and plant-based diets, consumers are turning to yogurt substitutes made from ingredients such as soy, coconut, and almond milk. This shift towards healthier and more sustainable options is expected to drive growth in the yogurt substitutes market in the region.
Trends in the market: In Southern Europe, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for plant-based alternatives. This trend is driven by increasing health consciousness and ethical concerns surrounding dairy consumption. As a result, companies are investing in research and development to expand their product offerings and cater to this growing segment. This shift towards alternative products is expected to have a significant impact on the dairy industry, with potential implications for traditional dairy producers and retailers.
Local special circumstances: In Southern Europe, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by the region's strong cultural preference for dairy products. However, due to the increasing health-consciousness and dietary restrictions of consumers, there is a rising demand for plant-based alternatives. This is particularly evident in countries like Italy and Spain, where there is a growing trend towards vegetarian and vegan diets. Additionally, strict regulations on dairy production and labeling also play a role in shaping the market dynamics of yogurt substitutes in this region.
Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily impacted by macroeconomic factors in Southern Europe. As the region recovers from economic downturns, the demand for affordable and healthy food options has increased. This trend, coupled with the rise in vegan and dairy-free diets, has led to a growing demand for yogurt substitutes. Additionally, the region's focus on promoting sustainable and environmentally-friendly food options has also contributed to the market growth. Furthermore, government initiatives to promote healthier food choices and investments in food technology have also played a key role in shaping the market landscape.
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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