Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in the NAFTA region is experiencing minimal growth, impacted by factors such as fluctuating consumer preferences and increased competition from alternative dairy products. Despite this, the convenience and health benefits of yogurt continue to drive its market growth.
Customer preferences: As consumers become more health-conscious, the demand for lactose-free and plant-based yogurt options is on the rise. This trend is driven by the growing number of individuals with lactose intolerance and the increasing popularity of vegetarian and vegan diets. Additionally, the incorporation of exotic flavors and superfood ingredients in yogurt products appeals to the adventurous and health-conscious consumer, driving the growth of the yogurt market.
Trends in the market: In NAFTA, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards healthier options, with a growing demand for organic and plant-based yogurt products. This trend is driven by consumer preferences for clean label and sustainable options. Additionally, there is a rise in innovative flavors and packaging, such as single-serve and on-the-go options. These trends are significant as they cater to the changing consumer preferences and offer opportunities for industry stakeholders to expand their product offerings. However, this could also pose challenges for traditional dairy producers who may need to adapt to meet the evolving market demands.
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 and cultural preference for dairy products in daily meals. The market is also impacted by the country's geographical diversity, with different regions producing unique flavors and varieties of yogurt. Additionally, government regulations on food labeling and health claims play a major role in shaping consumer preferences and market trends in the Mexican yogurt industry.
Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The market performance is largely impacted by the economic stability of the country, as well as its trade agreements. For instance, in NAFTA countries, the elimination of trade barriers has resulted in increased competition and market growth. Additionally, government policies and investments in the dairy industry can also affect the production and consumption of yogurt, as well as the overall market performance. The growing health consciousness among consumers and the increasing demand for natural and organic products are also significant factors driving 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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