The global dairy products market was valued at 494.5 billion in 2020 and is predicted to expand with a CAGR of 2.8% during the projected period.
Milk and other dairy parts
are an essential part of the diet of many people globally. The dairy products
are rich in Vitamin A, D, calcium, phosphorous, and riboflavin. As a part of a
healthy diet, people often prefer low-fat, lactose, and cholesterol-free dairy
products.
The main factors driving the
market for dairy products are the rising consumption of dairy products coupled
with a change in customer preference to dairy products for protein
supplementation.
Lenient regulatory norms and
a rise in funds from the public and private sectors are expected to surge the
market for dairy products. The utilization of automation technologies in dairy
farms as well advances in agriculture and animal husbandry are increasing the
market expansion.
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However, better alternatives
for cholesterol-free products such as almond milk, soymilk, and rice milk are
the key restraints for the dairy products market.
Key
players in the dairy products market include Nestle, Royal FrieslandCampina, Amul, Danone, Dean Foods Company, Megmilk
Snow brand Co. Ltd, Fonterra Co-operative, Arla Foods amba, Dairy Farmers of
America, Inc. and Lactalis SA
For
this study, Reports and Data has segmented the global Dairy Products market
based on Product Type, Distribution Channel, and Region:
Product Outlook (Revenue, USD Billion,
2020 - 2028)
- Cheese
- Butter
- Icecream
- Lactose-free milk
- Yogurt
- Milk
- Others
Distribution Channel Outlook (Revenue, USD
Billion, 2020 - 2028)
- Online
- Convenience Stores
- Supermarkets/Hypermarkets
- Others
Regional Outlook (Revenue, USD Billion,
2020 - 2028)
- North America
- Europe
- Germany
- Asia Pacific
- Central & South America (CSA)
- Middle East & Africa (MEA)
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Further key Findings:
- Based on the product type, the milk segment
dominated the market with the highest revenue share of 32.7% and is
predicted to hold its dominance during the forecast timeline from 2021 to
2028. The rising consumption of milk due to its high nutritive value is
expected to drive the market at a significant rate.
- The yogurt sector is assumed to expand at a
significant CAGR during the forecast period due to the vast demand for
yoghurt in Brazil, India, and China. The inclination towards flavored and
sweet yoghurts is seen to increase the overall demand for the dairy
products market.
- Based on the distribution channel segment, the
supermarkets dominated the market due to an increase in the number of
supermarkets and consumer preference for stores has increased the demand
for these supermarkets.
- Europe led the market for dairy products and is
expected to sustain its position throughout the analysis period. The
growth of the market is attributed to the increasing demand for milk
products such as cheese and milk desserts in this region. The high demand
for clean labels and high-quality dairy products will propel the market
demand.
- Asia Pacific region is evaluated to hold the
highest market share and also experience the fastest growth during the
estimation period of 2021 to 2028. The sudden rise in the online
distribution channels, easy access to raw material, and the rising
consumer base in the APAC region is expected to surge the demand for dairy
products. Additionally, the rising requirement for high-quality packaged
dairy products is also expanding the market.
- Over the past few years, North America has
occupied a significant market revenue. The United States has a large
market share in dairy products due to high milk and cheese intake. Also,
the launch of low-fat and no sugar milk in the North American region is
expected to increase milk consumption.
- The global Dairy Products Market has many
manufacturers strengthen their position through product and package
innovations, mergers, acquisitions, and collaborations. Emerging market
players are also introducing their products.
- PepsiCo India publicized its idea of entering
the dairy market in May 2017.
- Arla Foods amba launched its renowned yogurt product in ecological packaging to reduce the C02 emission by 30% in June 2020.
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Key
Features of the Dairy Products Market Report:
·
Detailed assessment and exhaustive
understanding of the Dairy Products Market
·
Significant insights into manufacturing
processes, major barriers, and risks
·
8-year forecast estimation to offer
information about the market size and market share on the global and regional
levels
·
Evaluation of the key drivers, restraints,
growth opportunities, threats, limitations, barriers, and other key elements
·
Identification of growth prospects and
potential for the Dairy Products industry
· Comprehensive analysis of the key market players and their strategies
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