Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt market in India is facing subdued growth due to various factors including changing consumer preferences, rising health consciousness, and the convenience of online shopping. Despite this, the market is expected to experience significant growth driven by increasing adoption of digital technologies.
Customer preferences: With the rise of health-consciousness in India, there has been a significant increase in demand for low-fat and probiotic yogurt options. This trend is driven by the growing awareness of the health benefits of consuming yogurt regularly, such as improved digestion and immune function. Additionally, the increasing popularity of vegetarian and plant-based diets has also led to a surge in demand for dairy alternatives like soy and coconut-based yogurt. This shift towards healthier and more environmentally friendly options reflects a changing lifestyle and cultural values among Indian consumers.
Trends in the market: In India, the Yogurt market is experiencing a surge in demand for plant-based yogurt options, particularly among health-conscious consumers. This trend is driven by the rising awareness of lactose intolerance and the benefits of a plant-based diet. Additionally, there is a growing trend of incorporating traditional Indian flavors, such as mango and cardamom, into yogurt products. These trends are expected to continue, presenting opportunities for industry stakeholders to expand their product offerings and reach a wider consumer base.
Local special circumstances: In India, the Yogurt Market is heavily influenced by the country's rich cultural heritage and traditions. Yogurt is an integral part of the Indian diet and is consumed in various forms, such as lassi and raita. Additionally, the country's diverse climatic conditions and geographical features have led to the development of unique yogurt varieties, such as shrikhand and dahi vada. Furthermore, the Indian government's support for the dairy industry and its various policies and regulations have contributed to the growth of the Yogurt Market in the country. This has resulted in a highly competitive market, with players constantly innovating to cater to the diverse preferences of Indian consumers.
Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market in India is heavily influenced by macroeconomic factors such as consumer spending patterns, government policies, and trade regulations. The country's growing population, rising disposable incomes, and increasing health consciousness are driving the demand for yogurt as a healthy and convenient snack option. However, factors such as inflation, fluctuating commodity prices, and changing consumer preferences could potentially affect the market growth. Additionally, government initiatives to promote dairy farming and investments in food processing infrastructure are expected to further boost the yogurt market in India.
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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