Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt market in Southern Asia has experienced subdued growth due to various factors such as changing consumer preferences, increasing competition, and limited distribution channels. Despite this, the market is expected to grow steadily, driven by rising health consciousness and the convenience of online purchasing.
Customer preferences: As the demand for healthier food options continues to rise in Southern Asia, yogurt is gaining popularity as a nutritious and versatile choice. With a growing focus on health and wellness, consumers are gravitating towards yogurt as a source of probiotics and protein. Furthermore, the popularity of plant-based diets is fueling the demand for non-dairy yogurt options, catering to the dietary preferences of a diverse population. This shift towards healthier and plant-based options is driven by a growing awareness of the benefits of a balanced diet and lifestyle.
Trends in the market: In Southern Asia, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards healthier and more innovative yogurt options. This is driven by rising health consciousness and a growing preference for natural and organic products. This trend is expected to continue, with industry players investing in research and development to meet consumer demands. Additionally, there is a rise in demand for lactose-free and plant-based yogurt alternatives. This presents opportunities for industry stakeholders to tap into new markets and diversify their product offerings.
Local special circumstances: In Southern Asia, the Yogurt market is heavily influenced by cultural preferences and dietary habits. In countries like India, yogurt is a staple in many traditional dishes and is also considered a healthy snack option. This has led to a high demand for yogurt products, especially in the urban areas. Additionally, factors such as government initiatives promoting dairy consumption and increasing health consciousness among consumers have also contributed to the growth of the Yogurt market in this region. In contrast, countries like Bangladesh and Pakistan have a lower consumption of yogurt due to cultural and religious preferences, leading to a different market dynamic.
Underlying macroeconomic factors: The Yogurt Market in Southern Asia is heavily influenced by macroeconomic factors such as consumer spending power, government policies, and cultural preferences. In countries with a growing economy and rising disposable income, there is a higher demand for premium and health-conscious food products such as yogurt. Additionally, favorable government policies promoting dairy production and consumption, along with cultural preferences for dairy-based foods, contribute to the market's growth in the region. However, challenges such as lack of infrastructure and low milk production in some countries can hinder market growth. Furthermore, global economic trends, such as trade policies and fluctuations in currency exchange rates, can also impact the Yogurt Market in Southern 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.
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)
