The Dairy Products by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Dairy Products, The dairy products market size has grown steadily in recent years. It will grow from $500.83 billion in 2023 to $524.15 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to urbanization and changing lifestyles, rising disposable income, population growth and demographic shifts, innovation in product offerings, trade liberalization.
The dairy products market size is expected to see steady growth in the next few years. It will grow to $628.29 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to cultural diversity and adaptation, global trade and market expansion, health and nutrition trends, plant-based alternatives growth, premiumization and specialty offerings.. Major trends in the forecast period include cultural preferences and diversity, nutritional awareness, clean label and transparency, globalization and international markets, convenience and snacking.
Rising demand for cheese is expected to propel the dairy products market going forward. Cheese refers to a dairy product that is made from curds of soured milk that are pressed together and form a soft or hard solid when allowed to ripen. It often consists of coagulated, compressed milk, and usually ripened curd. Cheese is a dairy product that is formed by milk that has been separated for whey and by pressing ripe curds, thus, increasing demand for cheese will propel market growth. For instance, in 2022, according to the USDA Economic Research Service, a US-based provider of information and research on agriculture and economics, the US per capita consumption of cheese increased to 40.3 pounds in 2021 from 40.1 pounds in 2020, and the total U.S. cheese production in 2020 was 13.25 billion pounds. Therefore, the rising demand for cheese is driving the dairy products market.
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The dairy products market covered in this report is segmented –
1) By Product Type: Milk, Cheese, Butter, Desserts, Yogurt, Other Types
2) By Distribution Channel: Supermarket, Hypermarket, Specialty Store, Online Retail, Other Channels
3) By Application: Bakery and Confectionary, Clinical Nutrition, Frozen Foods, Other Applications
Top Major Players:
- Arla Foods amba
- Fonterra Co-operative Group Limited
- The Kraft Heinz Company
- Nestlé S.A.
- Danone S.A.
Asia-Pacific was the largest region in the dairy products market in 2023.
Product innovations have emerged as a key trend gaining popularity in the dairy products market. Major companies operating in the dairy products market are focused on product innovations to strengthen their market position. For instance, in July 2022, Danone SA, a France-based multi-local food and beverage company, launched Aptamil, the industry’s first dairy and plant blend baby formula. It is uniquely designed with combination of dairy and plant blend recipe with 60% of plant protein and 40% of dairy protein. The blend includes selected plant proteins, fats, and fibers that have a 30% lower carbon footprint by using recyclable packaging and supporting regenerative agriculture methods. It is suitable for vegetarian and plant-based diets that also meet the baby's nutritional requirements.
The dairy products market report table of contents includes:
1. Executive Summary
2. Dairy Products Market Characteristics
3. Global Dairy Products Market Trends And Strategies
4. Dairy Products Market - Macro Economic Scenario
5. Global Dairy Products Market Size and Growth
…….
26. Global Dairy Products Market Competitive Benchmarking
27. Global Dairy Products Market Competitive Dashboard
28. Key Mergers and Acquisitions In Dairy Products Market
29. Dairy Products Market Future Outlook and Potential Analysis
30. Appendix
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