Market Insights Consumer Food Dairy Products & Eggs

Cheese Substitutes - South America

South America

Revenue in the Cheese Substitutes market amounts to €22.85m in 2024. The market is expected to grow annually by 8.78% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€230m 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 1.38m kg by 2029. The Cheese Substitutes market is expected to show a volume growth of 8.2% 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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Cheese Substitutes market in South America has experienced slow growth, impacted by factors such as limited consumer awareness and preference for traditional dairy products. Despite this, the market is still expected to see moderate growth due to increasing demand for plant-based options and health consciousness among consumers.

Customer preferences: As consumers become more health-conscious and environmentally aware, there is a growing trend towards plant-based diets in South America. This has led to a rise in demand for cheese substitutes made from non-dairy sources like soy, almond, and coconut milk. This shift is also driven by concerns over animal welfare and sustainability. Additionally, with the rise of veganism and lactose intolerance, there is a growing market for dairy-free alternatives in the region.

Trends in the market: In South America, the Cheese Substitutes Market within the Dairy Products & Eggs Market is experiencing a rise in demand for plant-based alternatives due to increasing health and environmental concerns. This trend is expected to continue as consumers become more health-conscious and environmentally aware. Industry stakeholders are responding by investing in research and development of innovative and sustainable plant-based cheese substitutes. This shift towards plant-based options also presents opportunities for new players to enter the market and compete with traditional dairy companies.

Local special circumstances: In South America, the Cheese Substitutes Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the region's rich cultural heritage and varied dietary preferences. For instance, in countries like Brazil and Argentina, where the consumption of meat is high, there is a growing demand for plant-based cheese alternatives. Additionally, the region's regulatory environment also plays a crucial role in shaping the market, with some countries having strict regulations on dairy products while others have more lenient policies, leading to variations in product availability and pricing.

Underlying macroeconomic factors: The Cheese Substitutes Market of the Dairy Products & Eggs Market within The Food market in South America is heavily impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. Countries with strong economic growth and stable fiscal policies are experiencing higher market growth compared to regions with economic challenges and limited government support for the dairy industry. Additionally, shifting consumer preferences towards plant-based alternatives and the increasing awareness of the environmental impact of dairy production are driving the demand for cheese substitutes in the region.

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.