The processed food industry is growing worldwide due to changing consumer preferences and increasing purchasing power. A variety of dairy spreads have been introduced by companies with different characteristics and forms to cater to the demand for enhanced flavor and texture. This is expected to drive the demand for dairy spreads among consumers across the world.
The global dairy spreads market has been segmented by type, packaging type, distribution channel, and region.’
Based on type, the global dairy spreads market has been segmented into cheese, butter, and others. The cheese segment is projected to be the largest during the forecast period. The demand for cheese spreads with various spices and seasonings is driven by the immense popularity of cheese flavor. The segment is also expected to register the highest growth rate during the review period owing to the growth of the food & beverage industry worldwide.
By distribution channel, the global dairy spreads market has been segmented into store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, convenience stores, and others. The store-based segment is projected to account for the larger market share due to the widespread availability of dairy spreads in supermarkets and hypermarkets. Moreover, there is a higher preference for store-based channels as they provide a one-stop shopping experience. However, the non-store-based segment is projected to register the higher CAGR due to the increasing adoption of e-commerce in food & beverage retail.
Regional Analysis
The global dairy spreads market has been segmented, on the basis of region, into North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the global dairy spreads market owing to the large-scale production of processed foods in the region. Dairy spreads are used in various cuisines to enhance taste, texture, flavor, and appeal. The US and Canada are major consumers of processed and RTE food products, which, in turn, boosts the demand for dairy spreads in these markets.
The market in Asia-Pacific is expected to be the fastest-growing due to the expanding food & beverage industry and changing consumer eating patterns in the region.
Key Players
Some of the key players in the global dairy spreads market are Arla Foods amba (Denmark), Gujarat Cooperative Milk Marketing Federation Ltd. (India), Britannia Industries Limited (India), The Kraft Heinz Company (US), Lactalis Group (France), Parag Milk Foods Ltd (India), Bel Brands USA, Inc. (US), Land O’Lakes, Inc. (US), Organic Valley (US), and Alouette Cheese USA LLC (US).
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