Milk Substitutes - Bangladesh

Bangladesh

Highlights

Market definition

In-Scope/Out-of-scope

Market structure

Reports

Methodology

Revenue in the Milk Substitutes Market is projected to reach US$9.60m in 2025.
Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 14.38%, resulting in a projected market volume of US$16.42m by 2029.
With a projected market volume of US$6.86bn in 2025, most revenue is generated China.
In the Milk Substitutes Market, the number of users is expected to amount to 1.7m users by 2029.
User penetration will be 1.1% in 2025 and is expected to hit 1.0% by 2029.
The average revenue per user (ARPU) is expected to amount to US$7.70.

Analyst Opinion

The Milk Substitutes eCommerce Market within the Dairy Products & Eggs Market in Bangladesh is witnessing significant growth, fueled by increasing health consciousness, rising veganism trends, and the ease of purchasing alternatives online, catering to diverse consumer needs.

Customer preferences: Consumers in Bangladesh are increasingly gravitating towards milk substitutes, driven by a growing awareness of health and nutrition. This trend is amplified by the rise of veganism and lactose intolerance, prompting a shift from traditional dairy to plant-based alternatives. Additionally, the convenience of eCommerce platforms enables easy access to a variety of products catering to diverse dietary preferences. As urbanization progresses, younger demographics are embracing these alternatives, reflecting a broader lifestyle change that prioritizes sustainability and holistic well-being.

Trends in the market: In Bangladesh, the Milk Substitutes eCommerce Market is experiencing significant growth, driven by an increasing demand for plant-based alternatives among health-conscious consumers. This shift is fueled by rising awareness of lactose intolerance and the benefits of vegan diets. Concurrently, eCommerce platforms are expanding their offerings, making it easier for consumers to access diverse milk substitutes. As urbanization accelerates, younger demographics are particularly inclined towards these alternatives, highlighting a shift towards sustainable consumption. This trend presents both opportunities and challenges for industry stakeholders, requiring them to adapt to evolving consumer preferences and invest in innovative product development.

Local special circumstances: In Bangladesh, the Milk Substitutes eCommerce Market is shaped by unique cultural and geographical factors, including a rich tradition of dairy consumption and a rising trend towards health and wellness. The prevalence of lactose intolerance among a significant portion of the population drives demand for plant-based alternatives. Additionally, the country's regulatory framework is evolving, with increasing support for sustainable agriculture practices. Urban consumers are increasingly influenced by global dietary trends, creating a vibrant market for diverse milk substitutes while presenting challenges for traditional dairy producers to adapt.

Underlying macroeconomic factors: The Milk Substitutes eCommerce Market in Bangladesh is significantly influenced by macroeconomic factors, including rising disposable incomes, urbanization, and a growing middle class that is increasingly health-conscious. Global economic trends, such as the shift towards plant-based diets, further shape consumer preferences, driving demand for alternatives to cow's milk. Additionally, fiscal policies that promote sustainable agriculture and food security are crucial for market growth. Exchange rate fluctuations can impact import costs of raw materials for plant-based products, while inflation may influence consumer purchasing behavior, making affordability a key consideration in the evolving dairy substitutes landscape.

Methodology

Data coverage:

Data refers to B2C enterprises. Figures are based on the sale of physical goods via a digital channel to a private end consumer. This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets). The following are not included in the eCommerce market: digitally distributed services (see instead: eServices), digital media downloads or streams, digitally distributed goods in B2B markets, and the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Statista Consumer Insights Global Survey), data on shopping behavior (e.g., Google Trends, Alibaba Trends), and performance factors (e.g., user penetration, price/product). Furthermore, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, internet penetration, and population. 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 particular market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, internet penetration, and population.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the Russia/Ukraine war is considered at a country-specific level.

Milk Substitutes - Bangladesh

Revenue

Analyst Opinion

Sales Channels

Users

Global Comparison

Methodology

Ecommerce

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