Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in Mongolia is facing subdued growth due to factors such as low consumer awareness and limited availability of digital technologies. Despite this, convenience offered by online services and rising health consciousness may drive market growth.
Customer preferences: Consumers in Mongolia are increasingly turning towards yogurt as a healthy and convenient snack option. This trend is driven by a growing awareness of the health benefits of yogurt, such as its high protein content and probiotic properties. Additionally, the rise of the health and wellness movement in Mongolia has led to a shift towards natural and organic food products, making yogurt a popular choice among health-conscious consumers. This trend is expected to continue as the demand for healthier food options increases in the country.
Trends in the market: In Mongolia, the Yogurt Market within the Dairy Products & Eggs Market is experiencing a rise in demand for probiotic yogurt, as consumers become increasingly health-conscious. This trend is expected to continue due to the growing awareness of the health benefits of probiotics, such as improved digestion and immunity. In addition, there is a shift towards convenient, on-the-go yogurt products, as busy consumers look for quick and healthy snack options. This trend is significant for industry stakeholders, as it presents opportunities for product innovation and market expansion. However, it also poses challenges in terms of meeting consumer demand and maintaining competitive pricing. As the trend towards health and convenience continues, it is crucial for industry players to stay abreast of consumer preferences and invest in research and development to stay ahead of the competition.
Local special circumstances: In Mongolia, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's nomadic culture and traditional diet. Nomadic herders have been producing yogurt for centuries, and this traditional practice is now reflected in the country's booming yogurt market. Additionally, Mongolia's harsh climate and vast open spaces make it challenging for fresh dairy products to reach urban areas, leading to a preference for locally produced yogurt. This unique market dynamic has also led to the popularity of Yak yogurt, a traditional Mongolian yogurt made from Yak milk.
Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market is influenced by macroeconomic factors such as consumer demand, global economic trends, and government policies. The rising health consciousness among consumers and increasing disposable income are driving the demand for yogurt products. In addition, the growing trend of healthy snacking and the popularity of yogurt as a breakfast food are also contributing to market growth. However, the market is also impacted by factors such as fluctuations in milk prices, trade policies, and supply chain disruptions. As the global economy continues to recover from the COVID-19 pandemic, the yogurt market is expected to see steady growth, especially in regions with strong economic growth and supportive government policies.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
