Key regions: Canada, Russia, United States, Japan, United Kingdom
The Yogurt Substitutes Market in the Dairy Products & Eggs Market within The Food market Worldwide has been seeing slight growth, influenced by factors like changing consumer preferences and the convenience of alternative options. Despite minimal growth, the market shows potential for expansion in the future.
Customer preferences: With the rise of health-conscious consumers, there has been a growing demand for plant-based alternatives to traditional dairy products, including yogurt. This trend is driven by cultural shifts towards a more sustainable and ethical food system, as well as an increasing number of individuals following vegan or lactose-free diets. Additionally, the popularity of probiotic-rich foods and beverages has also influenced the growth of the yogurt substitutes market, as consumers seek gut health benefits without the dairy content.
Trends in the market: In recent years, there has been a noticeable shift towards plant-based and non-dairy alternatives in the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market. This trend is being driven by the increasing popularity of veganism and lactose intolerance, as well as a growing concern for animal welfare and sustainability. As a result, companies are now offering a wider range of yogurt substitutes made from ingredients such as coconut, almond, and soy milk. This trend is expected to continue, with a projected growth of 16.7% in the global dairy alternatives market by 2025. This shift towards non-dairy options has significant implications for industry stakeholders, as they will need to adapt their products and marketing strategies to cater to this growing demand. It also presents opportunities for new players to enter the market and offer innovative and differentiated products to meet the evolving consumer preferences. Additionally, the rise of non-dairy yogurt substitutes also aligns with the overall trend towards healthier and more sustainable food choices, which could potentially shape the future of the entire food industry.
Local special circumstances: In Europe, the demand for yogurt substitutes is driven by the growing trend towards plant-based diets and the rise of veganism. This is largely influenced by cultural factors, as many European countries have a long history of vegetarianism and a strong focus on sustainability and animal welfare. Additionally, regulatory policies promoting healthy eating and reducing dairy consumption have also contributed to the growth of the yogurt substitutes market in this region.
Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is impacted by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with stable economies and favorable fiscal policies are experiencing higher market growth compared to regions with economic instability and limited government support for the food industry. Furthermore, increasing health consciousness and dietary preferences for alternative dairy options are driving the demand for yogurt substitutes in both developed and developing countries. This trend is expected to continue as consumers become more health-conscious and seek out dairy-free options.
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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