Yogurt Substitutes - Zimbabwe

Zimbabwe

Highlights

Revenue in the Yogurt Substitutes market amounts to US$2.23m in 2024. The market is expected to grow annually by 6.82% (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$0.13 are generated in 2024.
In the Yogurt Substitutes market, volume is expected to amount to 292.50k kg by 2029. The Yogurt Substitutes market is expected to show a volume growth of 5.0% 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 Zimbabwe is seeing minimal growth due to factors like low health awareness among consumers and limited availability of digital technologies. This has led to a slow growth rate in the Dairy Products & Eggs Market within The Food market, hindering the potential for significant market growth.

Customer preferences: The popularity of plant-based diets and a growing awareness of lactose intolerance have led to a rise in demand for yogurt substitutes made from non-dairy ingredients such as soy, almond, and coconut milk. This trend is also influenced by cultural preferences for vegan and vegetarian options, and the increasing availability of these products in supermarkets and health food stores. As consumers become more health-conscious and environmentally aware, they are turning to these alternatives as a healthier and more sustainable option.

Trends in the market: In Zimbabwe, there is a growing trend towards plant-based yogurt substitutes, driven by increasing health consciousness and dietary restrictions. This trend is expected to continue as consumers seek more diverse and sustainable options. In the broader dairy market, there is also a shift towards non-dairy alternatives, such as almond and soy milk, which presents both challenges and opportunities for industry stakeholders. This trend towards plant-based products is significant as it reflects changing consumer preferences and has the potential to disrupt traditional dairy markets. Industry stakeholders will need to adapt to these trends and offer innovative, high-quality alternatives to stay competitive in the market.

Local special circumstances: In Zimbabwe, the Yogurt Substitutes Market within the Dairy Products & Eggs Market is heavily influenced by the country's economic and political situation. With a fluctuating currency and high inflation rates, affordability is a major concern for consumers. This has led to the rise of locally made yogurt substitutes using easily accessible and affordable ingredients. Additionally, the cultural preference for fermented foods has also contributed to the popularity of these substitutes. However, strict government regulations on import and distribution of dairy products can create challenges for international players entering the market.

Underlying macroeconomic factors: The Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market in Zimbabwe is greatly influenced by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. The growth of this market is heavily dependent on the country's economic health and its ability to attract foreign investment, which can lead to technological advancements and regulatory support. Additionally, the rising health concerns and increasing demand for healthier alternatives to traditional dairy products among the aging population are also driving the demand for yogurt substitutes in Zimbabwe.

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.