Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in South America is experiencing minimal growth, influenced by factors such as consumer health consciousness and the convenience of online services. The Dairy Products & Eggs Market is seeing significant growth, driven by the increasing adoption of digital technologies.
Customer preferences: Consumers in South America are increasingly seeking healthier and more nutritious food options, leading to a rise in demand for yogurt as a convenient and affordable source of protein and probiotics. This trend is driven by the region's growing health consciousness and desire for functional foods that offer both taste and nutritional benefits. Additionally, the rise in urbanization and busy lifestyles has contributed to the popularity of on-the-go yogurt products, catering to the need for convenient and portable snacks.
Trends in the market: In South America, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for plant-based yogurt alternatives, as consumers become more health-conscious and environmentally aware. This trend is expected to continue, with the market projected to grow at a CAGR of over 6% in the next five years. This shift towards plant-based options is significant for industry stakeholders, as it presents opportunities for innovation and product diversification. Additionally, the rise of e-commerce in the region is allowing for easier access to these products, further fueling the growth of the market.
Local special circumstances: In South America, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the region's rich agricultural heritage and diverse cultural preferences. For example, in Argentina, yogurt is typically consumed as a breakfast food, while in Brazil, it is often used in savory dishes. Furthermore, strict regulations on dairy products in countries like Colombia and Peru present unique challenges for market players. These factors contribute to the dynamic nature of the Yogurt Market in South America, making it a complex and exciting market to navigate.
Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market is strongly influenced by macroeconomic factors in South America, such as economic stability, government policies, and consumer spending power. Countries with stable economies and supportive policies, such as Brazil and Argentina, have seen significant growth in the yogurt market. On the other hand, countries with economic challenges, like Venezuela, have experienced a decline in yogurt sales. Additionally, the rising health consciousness among consumers and the growing middle class population in South America are also contributing 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.
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)
