Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in APAC is experiencing minimal growth due to factors such as low consumer awareness, lack of accessibility to digital technologies, and the dominance of traditional dairy products. These challenges are impacting the market's growth rate in the region.
Customer preferences: Consumers in APAC are gravitating towards healthier and functional food options, resulting in a growing demand for yogurt as a probiotic-rich and versatile snack. This trend is driven by a rising health consciousness, with consumers prioritizing gut health and looking for convenient on-the-go options. Additionally, the increasing popularity of vegetarian and flexitarian diets in the region has led to a surge in demand for plant-based yogurt alternatives.
Trends in the market: In APAC, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for plant-based yogurt options, driven by increasing health consciousness and dietary restrictions. This trend is expected to continue as consumers seek healthier and sustainable alternatives. Additionally, there is a growing interest in probiotic-rich yogurt products, as consumers become more aware of the potential health benefits. These trends are significant as they indicate a shift towards healthier and more diverse yogurt options. Industry stakeholders should take note of these trends and adapt their product offerings accordingly to stay competitive in the market.
Local special circumstances: In the APAC region, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by cultural preferences and dietary habits. In countries like Japan and South Korea, yogurt is a popular breakfast option and is often consumed with savory dishes. In contrast, in India and China, yogurt is used as a base for sweet desserts and drinks. These cultural differences in consumption patterns have a significant impact on the product offerings and flavors in the market. Additionally, government regulations and policies on dairy production and imports also play a crucial role in shaping the competitive landscape of the yogurt market in APAC. This can be seen in countries like China and India, where stringent regulations on imported dairy products have created opportunities for local players to dominate the market.
Underlying macroeconomic factors: The Yogurt Market in the APAC region is heavily influenced by macroeconomic factors such as changing dietary preferences, rising disposable incomes, and increasing health awareness among consumers. With the region's growing economy and rising urbanization, there is a significant demand for convenient and healthy food options, driving the growth of the Yogurt Market. Additionally, government initiatives promoting the consumption of dairy products and investment in the dairy industry are also contributing to the market's growth. Moreover, the increasing prevalence of lactose intolerance and dairy allergies is leading to the development of alternative yogurt products, further driving market growth.
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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