The dairy beverage market is anticipated to show lucrative growth at a CAGR of around 7.0% during the forecast period. Rising population base, the increasing market of organized dairy products, rising milk production, shifting from carbonated drinks to healthy drinks are some of the major factors for the growth of the market all across the globe. Moreover, further development of the supply chains in the emerging economies, the introduction of new flavors in dairy beverages are also driving the market growth.
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However, a slight proportion of the population is adopting a vegan diet all across the globe which is a restraining factor for the market growth. Moreover, an effect on the COVID-19 pandemic is registered in the dairy industry all across the globe. For instance, as per the government of India, the demand for milk and its products has been reduced by 20% to 25% during the lockdown in India as the cooperative purchased around 56 million liters per day whereas sales were only around 36 million liters in the country.
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Due to the pandemic, the supply chain of the dairy industry has been disrupted in each country where lockdown was introduced. As the restaurants and schools were kept closed during the lockdown, the industry has seen a substantial shift from wholesale food-service markets to retail grocery stores. In the US, the demand for milk products has decreased by 12% to 15% due to the closure of schools and restaurants.

Market Segmentation

The dairy beverage market is segmented on the basis of type, packaging, and distribution channel. By type, the market is further segmented into standard milk, flavored milk, yogurt, and others. Standard milk, which is used for daily use for drinking purposes and to prepare various other dishes, will hold the largest market share throughout the forecast period. Moreover, flavored milk and yogurt will register a significant growth rate all across the globe. Yogurt is consumed in different variations in different countries such as Viili in Finland, Kefir in Eastern Europe and Russia, Ayran in Turkey, Yakult in Japan, and Curd in India.

Global Dairy Beverage Market Share by Type

By Packaging, the market is segmented into metal, glass bottle, plastic, and others. Glass bottle is a standard packaging to deliver the retail standard milk in many countries whereas in many others countries retail standard milk are delivery in plastic (PET) bottles or polybags packaging. Metal cans are more preferred for flavored milk packaging. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, specialist retailers.

Regional Outlook

On the basis of geography, the global dairy beverage market is studied in North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America holds a substantial market for dairy beverages as the milk industry is highly organized in the region. In Europe; Germany, France, Russia are the major milk-producing countries and will have a substantial market in the region.

Asia-Pacific will hold a major market share with the fastest growth rate all across the globe. As per the Food and Agriculture Organization of the United Nations, India is the largest milk-producing country all across the globe with around 22% of the global production each year followed by China and Pakistan in the region. Moreover, since the 1970s, South Asia is the major driver of milk production growth. Besides, India has the world’s largest vegetarian population, which in order to fulfill its nutritional needs mainly dependent on milk and its products. It creates a significant demand for dairy products in the country. However, a large proportion of the market is still unorganized and co-operative companies such as Amul and Mother Dairy have a significant proportion to the country’s market.

Market Players Outlook

The dairy beverage market is a highly fragmented market as millions of people are involved in the animal husbandry and dairy industry. A number of major companies all across the globe are co-operative. Some of the major co-operative dairy beverage companies include DMK GROUP, Gujarat Cooperative Milk Marketing Federation Ltd., Fonterra Co-operative Group Ltd., Murray Goulburn Co-operative Co. Ltd., Dairy Farmers of America Inc., and The Agropur Dairy Cooperative. Some of the other major market players include Nestle SA, Lactalis International, and Danone S.A. These market players are adopting growth strategies including mergers and acquisitions, product launches, expansions, partnerships & collaborations, innovative packaging, and unique flavors to gain a competitive edge in the market.

The Report Covers

Market value data analysis of 2019 and forecast to 2026.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global Dairy Beverage market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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