Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in ASEAN is experiencing minimal growth due to factors such as competition from other dairy products and eggs, changing consumer preferences, and limited access to technology in some regions. Despite this, the market is expected to see steady growth in the coming years due to increasing health consciousness and the convenience of online shopping.
Customer preferences: The rise of health-consciousness and the increasing popularity of plant-based diets have led to a growing demand for dairy-free and vegan yogurt options in the ASEAN region. This trend is fueled by a shift towards healthier and more sustainable food choices, as well as a rising awareness of animal welfare and environmental concerns. As a result, yogurt manufacturers are innovating and expanding their product offerings to cater to this growing segment of consumers.
Trends in the market: In the ASEAN region, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for healthy and functional yogurt products. With an increasing focus on health and wellness, consumers are seeking out yogurt with added probiotics, protein, and low sugar content. Additionally, there is a growing trend of incorporating local and traditional flavors into yogurt products, catering to the region's diverse palates. These trends are expected to continue on an upward trajectory, presenting opportunities for industry stakeholders to tap into the growing health-conscious consumer base in the ASEAN region.
Local special circumstances: In Thailand, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's hot and humid climate. This has led to a greater demand for refrigerated and frozen yogurt products, as well as a preference for lighter and fruit-based flavors. Additionally, the country's growing health consciousness has resulted in a rise in demand for probiotic and low-fat yogurt options. The market is also shaped by the country's strict food safety regulations, ensuring the quality and safety of yogurt products for consumers.
Underlying macroeconomic factors: The Yogurt Market in the ASEAN region is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The region's overall economic growth and stability have a direct impact on the demand for dairy products and eggs, including yogurt. Countries with strong economic growth and stable political environments are likely to have a higher demand for yogurt, as consumers have more disposable income to spend on food products. On the other hand, countries with economic instability and weak purchasing power may experience slower market growth. Additionally, government policies and regulations related to food safety and import/export can also impact the yogurt market in the region.
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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