Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in Mexico is facing negligible growth due to various factors such as limited consumer awareness, lack of accessibility to digital technologies, and a preference for traditional dairy products. Despite the convenience of online services, these factors are impacting the market's growth rate.
Customer preferences: As health and wellness continue to gain importance among Mexican consumers, there has been a growing demand for healthier options in the dairy market, specifically for yogurt. This trend is driven by a shift towards healthier lifestyles, with a focus on natural and organic products. Additionally, with a rise in lactose intolerance, there has been an increasing demand for plant-based alternatives, such as soy and almond milk yogurt. This shift towards healthier and more diverse options is expected to continue shaping the yogurt market in Mexico.
Trends in the market: In Mexico, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is experiencing a rise in demand for organic and plant-based yogurt products. This trend is driven by the increasing health-consciousness among consumers and their preference for sustainable and environmentally-friendly options. As a result, there has been a surge in the launch of new dairy-free and vegan yogurt products in the market. This trend is expected to continue, with industry stakeholders investing in innovative product development and marketing strategies to cater to this growing segment of consumers. Additionally, there is a rising trend of incorporating functional ingredients, such as probiotics and superfoods, in yogurt products to meet the demand for healthier options. This trend is significant as it not only addresses consumer preferences but also presents opportunities for industry players to differentiate themselves in a highly competitive market. Furthermore, the increasing popularity of yogurt as a convenient and nutritious snack is expected to drive the growth of the market, with potential implications for dairy farmers and suppliers of raw materials.
Local special circumstances: In Mexico, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's strong dairy industry, with a rich tradition of consuming dairy products. This cultural factor has led to a high demand for traditional and locally-made yogurts, with flavors and textures that cater to Mexican taste preferences. Additionally, the country's climate and geography allow for easy access to fresh milk, making it a key ingredient in many yogurt products. The regulatory environment also plays a role, as the government has implemented strict labeling regulations for dairy products, ensuring transparency and quality for consumers. These unique factors contribute to the dynamic growth of the Yogurt Market in Mexico.
Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market in Mexico is heavily influenced by macroeconomic factors such as economic stability, government policies, and consumer spending habits. Mexico's growing middle class and increasing disposable income have led to a rise in demand for dairy products, including yogurt. Additionally, the government's support for the dairy industry through initiatives such as the National Program for the Development of Dairy Production has further boosted the market. Moreover, the growing health consciousness among consumers and the trend towards healthier food options have also contributed to the growth of the yogurt market in Mexico. Overall, these macroeconomic factors have created a conducive environment for the growth of the Yogurt Market in Mexico within the larger Dairy Products & Eggs Market within The Food 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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