Pune, India, 17 Feb. 2022 (GLOBE NEWSWIRE) — The world dairy market the size was $708.70 billion in 2020. The market is expected to grow from $771.35 billion in 2021 for $1,190.39 billion in 2028 at a CAGR of 6.39% during the period 2021-2028.
This information is provided by Fortune Business Insightsin its report, entitled, “Dairy Products Market, 2021-2028.”
According to our analysts, the market is witnessing advanced growth owing to the growing demand for a wide variety of dairy and milk products in the application of several food products. This is expected to boost the demand for the product over the forecast period.
Impacts of COVID-19:
Demand and supply disruptions to hamper the market during the COVID-19 pandemic
The dairy industry has gone through exponential turmoil during the outbreak of the COVID-19 pandemic due to the main change in demand aspects. Nationwide shutdowns in many established and emerging countries have also hampered the restaurant and hospitality industry, which has dramatically reduced demand for milk and other dairy products.
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Based on the source, the market is separated into goats, cattle, sheep and camels. Sufficient accessibility of cow’s milk compared to other sources is mainly driving the segmental growth.
By Type, the market is split into Lactose and Lactose Free.
Based on product type, the market is divided into milk, butter, cheese, yogurt, dessert and others.
In terms of distribution channel, the global market is divided into supermarkets/hypermarkets, convenience stores, specialty stores, and online retail.
Geographically, the market has been categorized into North America, Europe, Asia-Pacific, South America, Middle East & Africa.
List Of Key Players Mentioned In The Dairy Foods Market Report:
- Fonterra Co-operative Group Limited (Auckland, New Zealand)
- Royal Friesland Campina NV (Amersfoort, The Netherlands)
- Danone SA (Paris, France)
- Nestlé SA (Vevey, Switzerland)
- Dairy Farmers of America, Inc. (Kansas, USA)
- Lactalis International (Laval, France)
- Arla Foods Group (Viby, Denmark)
- DuPont de Nemours, Inc. (Delaware, USA)
- Unilever Plc (London, UK)
- The Kraft Heinz Company (Illinois, USA)
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Drivers and Restrictions:
Growing demand for value-added dairy products to support market growth
The dairy industry is booming across the world with expansions and inventions putting new dairy products on the retail platform. Moreover, the ever-changing consumer habits with their increasing disposable incomes have increased the demand for value-added dairy products such as creams, cheese, butter, yogurts and others among customers. This in turn is expected to support the growth of the dairy market over the forecast period.
Asia-Pacific continues to hold the largest dairy market share due to growing demand for clean and maintainable label milk and dairy products from emerging countries such as India, Australia, China and Japan.
North America is expected to show a dramatic change in per capita dairy intake. This is due to fluctuating consumer food intake trends, such as the shift towards plant-based food products.
Europe is expected to grow at a considerable CAGR due to the existence of vital dairy producing countries such as UK and Germany in the region.
New product launches by prominent players to promote market growth
Significant market players are adopting various effective strategies to strengthen their position in the market as dominant companies. One such substantial tactic is recruiting companies to drive brand value among users. Another essential approach is to intermittently introduce innovative products with a thorough study of the market and its target audience.
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Key Industry Developments:
May 2021: Arla food has invested approximately $8.2 million in the expansion of its factory to meet the increased demand for cheese from Japan. Arla initially exports its products to countries such as Japan, Australia, the United Kingdom and the Nordic countries.
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Overview of parent/related markets
- Industry SWOT Analysis
- Supply chain analysis
- Recent Industry Developments – Policies, Partnerships and Mergers & Acquisitions
- Qualitative analysis related to COVID-19
- Impact of COVID-19 on the market
- Supply chain challenges during a pandemic
- Potential opportunities due to this global crisis
- Global Dairy Products Market Analysis, Outlook and Forecast, 2017-2028
- Main results/summary
- Market size estimates and forecasts
- By origin
- By type
- By product type
- By distribution channel
- convenience stores
- Specialty stores
- Online retail
- By region
- North America
- Asia Pacific
- South America
- Middle East and Africa
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Processed dairy products market Size, Share & Industry Analysis, By Type (Fluid Milk, Butter, Cheese, Frozen Dairy Desserts, Cultured Dairy Products, Others), By Distribution Channel (Mass Merchandisers, Convenience Stores, Specialty Stores, online retail, others) and regional forecast, 2022-2029.
Dairy substitutes market Analysis of the size, share and impact of COVID-19, by source (soy, almond, coconut, rice, oats and others), type of product (non-dairy milk, butter, cheeses, yogurts, ice cream and others), distribution channel (supermarkets/hypermarkets, convenience stores, online retail and others) and regional forecast, 2021-2028.
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