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Yogurt Substitutes - India

India

Highlights

Revenue in the Yogurt Substitutes market amounts to US$55.26m in 2024. The market is expected to grow annually by 5.28% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$470m in 2024).
In relation to total population figures, per person revenues of US$0.04 are generated in 2024.
In the Yogurt Substitutes market, volume is expected to amount to 13.19m kg by 2029. The Yogurt Substitutes market is expected to show a volume growth of 3.4% in 2025.0.
The average volume per person in the Yogurt Substitutes market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Yogurt Substitutes Market in India is witnessing negligible growth, influenced by factors such as changing consumer preferences, increasing health consciousness, and the convenience of online shopping.

Customer preferences: There has been a growing trend in India towards plant-based diets, leading to an increase in demand for dairy-free alternatives such as yogurt substitutes. This shift is driven by health-conscious consumers seeking alternatives to traditional dairy products. Additionally, with a rise in lactose intolerance and dairy allergies, there is a growing demand for dairy-free options. This trend is also influenced by cultural and religious beliefs, as well as the availability of a variety of plant-based options.

Trends in the market: In India, the Yogurt Substitutes Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for plant-based alternatives due to the increasing popularity of vegan and vegetarian diets. This trend is driven by health and environmental concerns, as well as the availability of more diverse and innovative products. As a result, companies are investing in research and development to offer a wider range of options, such as non-dairy yogurt made from coconut, almond, or soy milk. This trend is expected to continue, with potential implications for traditional dairy companies who may need to adapt their product offerings. Additionally, this trend presents opportunities for new entrants and startups in the plant-based yogurt market.

Local special circumstances: In India, the Yogurt Substitutes Market within the Dairy Products & Eggs Market is heavily influenced by the country's rich cultural heritage and dietary preferences. While yogurt is a popular staple in Indian cuisine, there is also a significant demand for plant-based yogurt substitutes due to the large vegetarian and vegan population. Additionally, the government's emphasis on promoting healthy food options has led to the growth of innovative dairy-free yogurt alternatives, such as coconut and almond milk-based products. These factors have contributed to the unique market dynamics of the Yogurt Substitutes Market in India, setting it apart from other markets in the food industry.

Underlying macroeconomic factors: The Yogurt Substitutes Market in India is heavily influenced by macroeconomic factors such as the country's economic growth, government policies, and consumer spending habits. With a rapidly growing population and increasing disposable income, there is a high demand for dairy alternatives, including yogurt substitutes. Additionally, the rising trend of health-consciousness and the growing vegan population in India are also major drivers of the market. However, the market is also affected by factors such as fluctuating milk prices, availability of ingredients, and changing consumer preferences. Moreover, the global trend towards plant-based diets and sustainable food options is expected to further drive the growth of the Yogurt Substitutes Market in India.

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.