The global FMCG market is projected to grow by 4.6% in current value terms to reach USD6.6 trillion. Growth is largely price led and financial concerns are weighing heavily on consumer behaviour given sustained cost-of-living pressures. Opportunities lie in emerging markets, health and wellness trends, and e-commerce. Key growth industries include soft drinks and beauty and personal care.

Dairy products and alternatives in Taiwan saw moderate current value growth in 2025 but stagnation in retail volume terms. This performance can be attributed to a combination of evolving social demographics, increased living costs, and ongoing inflationary pressures. In the wake of the COVID-19 pandemic, increased investment in international travel prompted many Taiwanese consumers to reassess their purchasing habits, with a trend towards premiumisation. Nevertheless, lower birth rates in Taiwan

Value sales of dairy products and alternatives in Croatia maintain a positive trajectory in 2025, with volume sales also showing small positive growth. This performance is supported by two dominant trends: the growing demand for health-focussed products, and the expansion of private label.

Retail current value sales of dairy products and alternatives in the Philippines are projected to continue to rise at a strong rate over 2025, amid ongoing inflationary pressures. Nonetheless, the performance demonstrates the resilience of products seen as daily necessities, such as milk formula or powder milk. Efforts by incumbent players to focus on cost-containment strategies and marketing efforts support consistent demand.

Sales of dairy products and alternatives have seen moderate growth in current retail value terms in 2025 with innovation helping to sustain interest in more mature categories. Prices rose across dairy products and alternatives in 2024 following the increase in Singapore’s Goods and Services Tax (GST) from 8% to 9%. Inflation has stabilised in 2025 while the country’s GST has remained unchanged at 9%, thus ensuring increased price stability in the market. However, despite this, baby food categori

Dairy products and alternatives in Germany faces slower value growth in 2025 following the price hikes and inflationary pressures of recent years. Lower inflation has provided some relief for consumers, although prices are still increasing. While this is hampering overall consumption, volume sales are set to increase marginally in 2025. German consumers include a high level of dairy products in their diet, where cheese, yoghurt, and milk remain staples. At the same time, plant-based alternatives

Euromonitor International’s “Top 100 FMCG E-Commerce Brands” report offers a definitive view of the brands winning in digital commerce. By spotlighting the Top 100 brands and their strategies, this report equips FMCG leaders to track, benchmark and gain intelligence to inform their digital strategy as they compete in an increasingly high-stakes arena.

While remaining robust on the whole, growth in dairy products and alternatives current value sales in North Macedonia in 2025 looks set to be moderately slower than in 2024, mainly because the recent spike in inflation has now largely subsided. The same factor has stimulated greater price competition and eased cost-of-living pressures to some extent, however, with the result that retail volume growth is expected to be up marginally on the previous year despite the fact that the country’s populat

In 2025, the reimplementation of tariffs by the Trump administration has had a mixed impact on the US economy, particularly regarding GDP growth, inflation, and consumer spending. After recording a GDP growth rate of 2.8% in 2024, economic expansion is expected to slow to 1.6% in 2025. The new tariffs have raised production costs for businesses, leading to higher prices for a wide range of goods. This inflationary pressure, combined with an already cautious consumer environment, has weakened hou

In 2025, dairy products and alternatives in New Zealand recorded steady value growth, largely driven by significant price inflation. Rising production and supply chain costs, alongside broader economic pressures, contributed to sustained increases in dairy prices. Additionally, strong global demand for New Zealand dairy exports further exacerbated price hikes for local consumers.

Dairy products and alternatives is set to see growth in both volume and value terms in the United Arab Emirates in 2025. The country’s economic outlook remains positive, with growth increasingly being driven by non-oil sectors such as tourism, retail, and food and beverage. This diversification is creating favourable conditions for the expansion of the dairy products and alternatives market, as rising disposable incomes, urbanisation, and health-conscious lifestyles fuel demand for both traditio

Retail current value sales of dairy products and alternatives in Slovenia are expected to continue to increase strongly over 2025, driven by strong performances in several key categories. Cheese is set to see the highest retail current value sales and growth, supported by moderate price increases, strong demand for locally sourced products and a widening variety.

Overall retail value sales of dairy products and alternatives in Hong Kong continue to rise in 2025, notwithstanding the ongoing challenges of high living costs and economic uncertainty. Several factors are driving this upward trend – for example, the influx of new immigrants from mainland China, which is boosting demand for dairy products and alternatives.

In 2025, the global dairy industry is characterised by pricing-led value growth and modest volume performance. Functional benefits, affordability and evolving routines continue to redefine category dynamics. Emerging markets offer strong potential, while mature regions will see a focus on premiumisation and wellness. Functionality, pack strategy and local relevance are becoming essential for brand differentiation and securing future success, especially as private label gains ground.

In 2025, dairy products and alternatives in Indonesia is recording strong value sales growth, driven by a combination of rising health consciousness, digital engagement and evolving consumption habits. Local consumers increasingly seek products that offer functional benefits, such as high protein, probiotics and lactose-free options, while also fitting into their fast-paced lifestyles. This shift is particularly evident among urban millennials and Gen Z, who embrace dairy not just for nutrition

Retail value sales of dairy products and alternatives are expected to register growth of 4% in 2025. Kuwait’s dairy products and alternatives industry thrived in 2025, with value sales growth on a par with the gains of the previous two years. Beyond standard catalysts, such as a growing population and more job opportunities, expansion of this industry was also powered by evolving trends. These included a heightened focus on health and wellness, inflation being kept in check which cooled post-pan

The dairy products and alternatives market in Sri Lanka is set to grow moderately in 2025 as a result of changing consumer lifestyles and growing health consciousness. While demand is being dampened by concerns about affordability. raised demand for functional benefits, such as lactose-free and high-protein alternatives, has helped traditional dairy products to see growth, while snacking occasions have raised sales of convenient formats, such as drinkable yoghurt. In the meantime, the market for

Retail value sales of dairy products and alternatives are set to rise in current terms in Lebanon in 2025. Despite all the negative trends affecting Lebanon, including economic and financial collapse but also the presidential vacuum and political instability, the packaged food market started to see a recovery in 2022 and into 2023. Some positive trends driven by diaspora remittances, private sector recovery, tourism and hospitality indicators were supporting the recovery.

In 2025, dairy products and alternatives in Laos is expected to see retail volume and current value sales grow strongly. However, retail current value growth is driven by still high, if much lower than in 2022-2024, inflation. At constant 2025 prices, retail value sales are set to fall. On the other hand, lower inflationary pressure on prices is supporting affordability and demand. More consumers in Laos are focusing on their health and prefer products with clear health benefits, such as probiot

Cambodia has seen a rising demand for dairy products, driven by local economic growth and increasing urbanisation. Traditional dairy products like milk, yoghurt, and cheese remain dominant in 2025, but plant-based dairy including soy drinks and nut-based milk such as almond milk, are slowly becoming more popular, reflecting changing dietary preferences and health-conscious trends.

Dairy products and alternatives in Myanmar is projected to register moderate retail volume growth in 2025, with a slower increase than in 2024. Meanwhile, retail current value sales are expected to see dynamic growth in 2025, largely in line with the 2024 increment.

This report highlights the nutrition-related results of Euromonitor’s International Voice of the Consumer: Health and Nutrition Survey 2025. It covers eating and drinking habits, ingredient preferences and diet motivations of global consumers.

In 2025, dairy products and alternatives in Malaysia demonstrated mixed trends, with retail value sales continuing to grow while retail volume sales, which held a marginally higher share than the foodservice channel, recording a slight decline. The growth in value sales can be attributed to the essential nature of key dairy categories such as butter and spreads, cheese, and drinking milk products, which are consumed daily across all demographic segments. These products benefit from wide availabi

Sales of dairy products and alternatives have continued to post strong growth in current value terms in 2025 although this remains largely price driven, with volume sales reporting only moderate growth. High, if slowing, inflation rates, high interest rates and price hikes have made consumers more price-sensitive. Furthermore, some people have been cutting back on their dairy intake, which has had a particularly negative impact on volume sales of cow’s milk. This is linked to various factors inc