Yogurt Substitutes - Thailand

Thailand

Highlights

Revenue in the Yogurt Substitutes market amounts to US$37.25m in 2024. The market is expected to grow annually by 4.22% (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$0.52 are generated in 2024.
In the Yogurt Substitutes market, volume is expected to amount to 4.34m kg by 2029. The Yogurt Substitutes market is expected to show a volume growth of 3.4% 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 Thailand is experiencing minimal growth, influenced by factors such as increasing health consciousness and availability of online health services. This market growth is driven by consumer demand for healthier dairy alternatives in the evolving Food Market in Thailand.

Customer preferences: As plant-based diets continue to gain popularity in Thailand, there has been a growing demand for dairy-free yogurt substitutes. This trend is driven by consumers seeking healthier and more sustainable options, as well as those with lactose intolerance or allergies. Additionally, there is an increasing focus on incorporating traditional Thai ingredients such as coconut milk and soy into these substitutes, catering to local tastes and preferences. This shift towards plant-based yogurt alternatives reflects a larger global trend towards more ethical and environmentally-friendly food choices.

Trends in the market: In Thailand, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for plant-based alternatives, driven by the growing health and wellness trend. This shift towards healthier options is expected to continue, with consumers increasingly seeking out non-dairy alternatives for their dietary needs. In addition, the market is seeing a rise in the availability of vegan and lactose-free options, catering to the needs of those with specific dietary restrictions. These trends are significant for industry stakeholders, as they present opportunities for diversification and expansion into new consumer segments. However, they also pose challenges for traditional dairy companies, who must adapt to changing consumer preferences and innovative product offerings in order to remain competitive in the market.

Local special circumstances: In Thailand, the Yogurt Substitutes Market is heavily influenced by the country's predominantly Buddhist culture, which promotes a vegetarian or vegan lifestyle. This has led to a high demand for plant-based yogurt alternatives, such as coconut or soy-based products. Additionally, the country's tropical climate and abundance of fruit has resulted in the popularity of fruit-flavored yogurt substitutes. Moreover, the government's stringent regulations on dairy production, particularly in regards to animal welfare, have also played a role in the rise of dairy-free options in the market. These unique factors have contributed to the growth and success of the Yogurt Substitutes Market in Thailand.

Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market in Thailand is influenced by various macroeconomic factors. The global economic trends, national economic health, fiscal policies, and other financial indicators impact the performance of the market. For instance, countries with favorable regulatory environments and strong investment in food technology are experiencing faster market growth compared to regions with regulatory challenges and limited food funding. Moreover, the increasing health consciousness and demand for healthier food options among the Thai population are driving the demand for yogurt substitutes. Additionally, the rising costs of dairy products and the availability of alternative dairy-free products are also contributing to the growth of the yogurt substitutes market in Thailand.

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.