Market Insights Consumer Food Dairy Products & Eggs

Cheese Substitutes - Armenia

Armenia

Revenue in the Cheese Substitutes market amounts to €158.20k in 2024. The market is expected to grow annually by 9.64% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€228m in 2024).
In relation to total population figures, per person revenues of €0.06 are generated in 2024.
In the Cheese Substitutes market, volume is expected to amount to 11.32k kg by 2029. The Cheese Substitutes market is expected to show a volume growth of 9.2% in 2025.
The average volume per person in the Cheese Substitutes market is expected to amount to 0.0kg in 2024.

Key regions: Canada, South Korea, United Kingdom, Japan, Philippines

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Analyst Opinion

The Cheese Substitutes Market in Armenia is experiencing subdued growth due to factors such as limited availability and high prices of dairy-free products, as well as traditional preferences for dairy-based foods. This trend is expected to continue in the near future.

Customer preferences: The growing popularity of vegan and vegetarian lifestyles in Armenia has led to a rise in demand for dairy-free cheese substitutes. This trend is fueled by ethical concerns for animal welfare and a desire for healthier, plant-based options. Additionally, the increasing availability of innovative and flavorful dairy-free alternatives has also contributed to the growth of the cheese substitutes market. As more consumers prioritize health and sustainability, the demand for these products is expected to continue to rise.

Trends in the market: The Cheese Substitutes Market of the Dairy Products & Eggs Market within The Food market in Armenia is experiencing a shift towards plant-based alternatives due to growing concerns about health and sustainability. This trend is significant as it reflects changing consumer preferences and creates new opportunities for industry stakeholders to innovate and diversify their product offerings. Additionally, the rise of veganism and lactose intolerance is driving the demand for cheese substitutes, making it a lucrative market for manufacturers and retailers. With increasing awareness and availability of these products, the market is expected to witness steady growth in the coming years.

Local special circumstances: In Armenia, the Cheese Substitutes Market within the Dairy Products & Eggs Market is influenced by the country's traditional diet and culture. The use of plant-based substitutes, such as tofu and soy-based products, is a common practice in Armenian cuisine. Additionally, the market is also affected by strict regulations on dairy products, leading to the popularity of alternative options. These factors contribute to the unique dynamics of the Cheese Substitutes Market in Armenia and differentiate it from other markets.

Underlying macroeconomic factors: The Cheese Substitutes Market in Armenia is influenced by macroeconomic factors such as the country's overall economic health, government policies, and global economic trends. For instance, favorable fiscal policies that promote the consumption of dairy alternatives, as well as increasing health consciousness among consumers, are driving the demand for cheese substitutes in the country. Additionally, the rising prevalence of lactose intolerance and the growing vegan population globally are also contributing to the growth of the market in Armenia. On the other hand, economic challenges such as inflation, currency fluctuations, and trade barriers can hinder the market's growth in the country. Overall, a stable economic environment and supportive government policies are crucial for the success of the Cheese Substitutes Market in Armenia.

Methodology

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.