Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in the Americas has seen minimal growth due to various factors such as consumer preference for alternative dairy products, slow adoption of digital technologies, and limited health awareness. These challenges have impacted the market's growth rate, leading to stagnant growth in recent years.
Customer preferences: In recent years, there has been a growing preference for plant-based yogurt alternatives in the Yogurt Market of the Dairy Products & Eggs Market. This trend is driven by a rise in vegan and flexitarian diets, as well as concerns over the environmental impact of dairy production. Additionally, the popularity of probiotic-rich foods has led to an increase in demand for yogurt made from non-dairy sources such as coconut, almond, and soy milk. This shift towards plant-based options is also influenced by a growing awareness of lactose intolerance and dairy allergies among consumers.
Trends in the market: In the Yogurt Market of the Dairy Products & Eggs Market within The Food market, there is a noticeable increase in demand for plant-based yogurt products, as consumers become more health-conscious and environmentally aware. There is also a growing trend of incorporating probiotics and other functional ingredients in yogurt, as consumers seek out products with added health benefits. These trends are significant as they reflect changing consumer preferences and present opportunities for industry stakeholders to tap into new markets and develop innovative products. Moreover, these trends have the potential to drive growth in the overall yogurt market, as more consumers prioritize health and wellness in their food choices.
Local special circumstances: In the Yogurt Market of the Dairy Products & Eggs Market within The Food market, the Americas region is dominated by the United States, with a large number of health-conscious consumers driving the demand for yogurt products. However, in Latin American countries, such as Brazil and Mexico, the market is influenced by cultural preferences, with a higher demand for flavored and sweetened yogurt. In Canada, the regulatory environment plays a significant role, with strict labeling requirements for yogurt products containing probiotics. These unique local factors contribute to the diverse dynamics of the yogurt market in the Americas.
Underlying macroeconomic factors: The Yogurt Market in the Americas is heavily influenced by macroeconomic factors such as consumer spending, trade policies, and government regulations. With a growing trend towards healthy and convenient food options, the demand for yogurt has been steadily increasing in the region. However, fluctuations in commodity prices and changes in consumer preferences can greatly impact the market. Additionally, government initiatives promoting dairy production and exports have a significant impact on market performance. Economic indicators such as GDP growth, inflation rates, and unemployment rates also play a key role in determining the overall health of the 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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