The GMI Research’s latest analysis reveals that the Dairy Market is slated to register a significant CAGR over the forecast period. This is attributed to the growing per capita income, rising population, and increasing health concerns among consumers. The strong adoption of a healthy lifestyle will drive market growth.
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Dairy Market’s leading Manufacturers:
- Nestle SA
- Fonterra Group Cooperative Limited
- Arla Foods
- Danone S.A.
- FrieslandCampina
- Dairy Farmers of America Inc.
- Dean Foods Company
- Lactalis International
- Yili Group
- Kraft Foods Inc.
- China Mengniu Dairy Company Limited
- DMK Group
Dairy Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The growing per capita income, rising population, and increasing health concerns among the consumers are the key drivers contributing to the growth of the dairy market size. The growing consumption of dairy products as a result of the drastic change in the consumption pattern of individuals will further surge the demand of the market. As per the dairy market report, the rising awareness associated with the nutritional benefits of dairy products is promoting them to opt for healthier options, thus propelling the growth of the dairy market. According to the dairy market analysis, the strong adoption of a healthy lifestyle, coupled with the rising demand for high-quality food products, are certain factors that are expected to drive the growth of the dairy market over the forecast period. The significant shift of consumers towards nutritional-rich food products as a result of the growing consumer expenditure is one of the emerging dairy market trends that will further open doors for the growth of the dairy market. The leading manufacturers emphasize launching several products with better quality, which will create new opportunities for the growth of the global dairy market. On the other hand, the high demand for plant-based food products will hinder the growth of the global dairy market.
Product Type Segment Drivers
Based on the Product Type, the milk segment is projected to lead the market in the upcoming years. For example, according to the Food and Agriculture of the United Nations (FAO), global milk production raised around 1.8%, i.e., approximately 852 Million in 2019 compared to 2018, majorly owing to the fuelled production in economies, such as the US, India, Pakistan, Brazil, among others. On the other hand, yogurt is projected to rise at a faster CAGR over the coming years, owing to the growing consumption of yogurt among consumers.
Regional Drivers
Based on the region, Asia-Pacific is anticipated to rise at a higher CAGR over the coming years due to the rising population size, increasing urbanization, growing health concerns among the people, and rapid consumption of dairy products. For example, according to the Food and Agriculture of the United Nations (FAO), milk production in Asia surged around 2.9% in 2019 in comparison to 2018, which is majorly due to the strong demand in Pakistan and India. Additionally, India milk production is anticipated to boost owing to the rising demand for dairy products among the population.
Dairy Market Segmentation:
Segmentation by Product Type:
- Milk
- Cheese
- Butter
- Dairy Desserts
- Yogurt
- Others
Segmentation by Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialist Retailers
- Online Retail stores
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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