Key regions: Russia, Spain, South Korea, Philippines, United States
In Southeast Asia, the Yogurt Market within the Dairy Products & Eggs Market has been steadily growing due to increasing health consciousness among consumers and the convenience of online services. However, the market's growth rate is minimal due to factors such as intense competition and the economic impact of the pandemic.
Customer preferences: As Southeast Asian consumers become more health-conscious, there is a growing demand for yogurt as a nutritious and convenient snack. This trend is driven by the rising popularity of health and wellness practices, such as yoga and mindfulness, which have become increasingly popular in the region. Additionally, the growing number of lactose-intolerant individuals has also led to a rise in demand for dairy-free yogurt options.
Trends in the market: In Southeast Asia, the Yogurt Market within the Dairy Products & Eggs Market is witnessing a rising trend of healthy and organic yogurt options. This is driven by the increasing health-consciousness among consumers and the growing demand for functional foods with added health benefits. Additionally, there is a significant shift towards plant-based yogurt alternatives, catering to the rising demand for vegan and lactose-free options. These trends are expected to continue, presenting opportunities for industry stakeholders to tap into the growing demand for healthier and more diverse yogurt options.
Local special circumstances: In Southeast Asia, the Yogurt Market is experiencing significant growth due to the region's growing health consciousness and rising disposable incomes. In countries like Thailand and Vietnam, traditional yogurt-based drinks are popular, while in Indonesia, yogurt is increasingly being used as an ingredient in traditional dishes. Additionally, government initiatives promoting dairy consumption, coupled with a growing expat population, have contributed to the market's expansion. However, challenges such as inadequate cold chain infrastructure and varying consumer preferences across countries pose challenges for market players.
Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market in Southeast Asia is heavily influenced by various macroeconomic factors. These include economic trends, national economic health, fiscal policies, and other financial indicators that impact market performance. With the rise of health consciousness and increasing disposable income among consumers, the demand for yogurt has been on the rise in Southeast Asia. Furthermore, government initiatives to promote a healthy lifestyle and the growing trend of incorporating yogurt in various cuisines have also contributed to the market growth. However, factors such as fluctuating raw material prices, labor costs, and changing consumer preferences can affect the market in the region. This is especially true in countries with slower economic growth and weaker purchasing power, which can hinder the growth of the Yogurt Market in Southeast Asia.
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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