According to a new market research report “Dairy Products Market (Milk, Cheese, Cream, Yoghurt, Milk Powder), Distribution Channel (Grocery Store, e-Retailing)– Global Opportunity Analysis and Industry Forecast to 2025”, published by Meticulous Research®, the global dairy products market is expected to grow at a CAGR of 5.2% from 2019 to reach $645.8 billion by 2025.
With increasing world-population and welfare, the demand for the nutritional food is rising sharply. The high nutrition trend is gaining traction and will continue to evoke interest in the upcoming years. The consumers have become more aware about protein and other nutrient benefits in supporting active lifestyle. Milk and milk products could be a great solution for this due to their capability to satisfy the food need with the high nutrition for human consumption. In addition, most of the nutrients present in milk are in the form that are easily absorbed by the human body.
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In recent decade, with the increasing premiumization and diversification of consumer needs, the usage of milk has been expanding from traditional dairy products to new products with high added value. It is expected that this trend will lead to further growth in milk consumption with favorable long-term consumer trends and developing technologies. In addition, it is expected that rising household incomes, especially in urban areas, will bring changes in lifestyles and preferences. Therefore, investments are flowing in for the supply side to capture business opportunities in dairy industry.
The global dairy products market is primarily segmented by type (milk, cheese, butter, cream, yoghurt, milk powder, desserts, and others), and distribution channel (grocery retailers, non-grocery retailers, and internet retailing). The milk market is further segmented into semi skim milk, whole milk, skim milk, and others; whereas, grocery retailers market is classified into supermarket, hypermarket, discounters, and others. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on product type, the milk segment is estimated to account for the largest share of the overall dairy products market in 2019, as it is the most consumed and marketed dairy product across the globe. In addition, increased production in last two decades and significant improvements in all the unit operations of milk processing is further driving the consumption of milk in many countries across the globe. On the other hand, cheese segment is expected to witness a significant growth during the forecast period.
Based on distribution channel, grocery retailers segment is estimated to hold the largest share of the global dairy products market in 2019, as these stores offer one-stop shopping for consumers; a clean, comfortable, and extended opening hours; and much wider selection of household items along with dairy products. However, internet retailing segment is expected to witness a significant growth during the forecast period of 2019 to 2025.
Geographically, Europe commanded the largest share of the overall dairy products market, followed by Asia-Pacific. The large share of this region is mainly attributed to high per capita consumption, strong dairy culture, increased new product launches, and better trade landscape at a global level. However, Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period.
The major players operating in the global dairy products market are Nestle S.A. (Switzerland), Dean Foods Company (U.S.), Fonterra Co-operative Group Limited (New Zealand), Danone S.A. (France), Kraft Heinz Company (U.S.), Saputo Inc. (Canada), Arla Foods amba (Denmark), Megmilk Snow Brand Co., Ltd. (Japan), Royal Friesland Campina N.V. (The Netherlands), Parmalat S.p.A. (Italy), Dairy Farmers of America Inc. (U.S.), and SODIAAL (France) among others.
Browse key industry insights spread across 198 pages with 107 market data tables & 46 figures & charts from the report: https://www.meticulousresearch.com/product/dairy-products-market-5020/
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