Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in Bangladesh is facing subdued growth due to various factors like the slow adoption of digital technologies, low health awareness among consumers, and limited availability of online health services. Despite this, the market is expected to grow due to the increasing popularity of dairy products and eggs in the country.
Customer preferences: The demand for probiotic-rich yogurt is on the rise in Bangladesh, driven by the growing awareness of its health benefits. This trend is further fueled by the increasing health consciousness among consumers, especially the younger generation. Moreover, the popularity of yogurt as a versatile ingredient in traditional dishes, such as lassi and shrikhand, has also contributed to its market growth. As the population becomes more urbanized and health-conscious, the demand for yogurt is expected to continue to grow in the coming years.
Trends in the market: In Bangladesh, the Yogurt Market is currently witnessing a shift towards healthier and more diverse product offerings, such as low-fat and probiotic yogurts. This trend is driven by the increasing consumer awareness and demand for healthy food options. Additionally, there is a growing interest in lactose-free and plant-based yogurt alternatives, catering to the dietary needs of lactose-intolerant and vegan consumers. This trajectory is significant as it presents new opportunities for industry stakeholders to tap into the growing health-conscious market and diversify their product portfolios. However, it also poses challenges for traditional yogurt manufacturers to adapt and compete in this evolving market.
Local special circumstances: In Bangladesh, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's climate and cultural preferences. The hot and humid weather makes yogurt a popular choice for its cooling properties. Additionally, the majority Muslim population prefers halal-certified dairy products, creating a niche market for halal yogurt. The government's focus on promoting dairy farming has also led to an increase in locally produced yogurt, catering to the growing demand for fresh and traditional dairy products. These unique local factors play a significant role in shaping the dynamics of the Yogurt Market in Bangladesh.
Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market in Bangladesh is influenced by various macroeconomic factors. The country's economic health, including GDP growth, inflation rates, and consumer spending, plays a significant role in shaping the demand for yogurt products. Global economic trends, such as increasing health consciousness and growing demand for healthier food options, also impact the market. Fiscal policies, such as taxes and subsidies on dairy products, can affect the profitability of yogurt manufacturers and influence market performance. Additionally, factors such as changing demographics, rising disposable incomes, and urbanization in Bangladesh also contribute to the growth of the Yogurt 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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