Pune, Oct. 19, 2023 (GLOBE NEWSWIRE) --
The SNS Insider report indicates that "The Dairy Products Market had an estimated value of USD 491.7 billion in 2022 and is projected to reach USD 635.17 billion by 2030, with an anticipated growth rate of 3.25% during the forecast period from 2023 to 2030".
Market Overview
Dairy products are a fundamental category of food items that have been an integral part of human diets for centuries. These products are derived from the milk of mammals, primarily cows, goats, and sheep, and they offer a wide range of nutritional benefits. Dairy products have played a crucial role in the evolution of human diets and continue to be a vital component of daily nutrition. They offer versatility in culinary applications and provide a rich source of essential nutrients. Additionally, they contribute to economic growth and employment opportunities in the dairy industry.
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Market Analysis
The rising consumer awareness regarding health and wellness has contributed significantly to the growth of the dairy products market. Dairy products are a rich source of essential nutrients, including calcium, protein, and vitamins. These nutritional benefits have garnered the attention of health-conscious consumers who are increasingly turning to dairy as a part of their balanced diets. Innovation has played a pivotal role in the expansion of the market. Dairy companies have been actively introducing new and unique dairy product varieties that cater to changing consumer preferences. This includes lactose-free, organic, and plant-based dairy alternatives that target specific dietary requirements and restrictions. Globalization and increased trade have expanded the market for dairy products, allowing consumers to access dairy items from around the world. This has not only increased the variety available but has also opened up new markets for dairy producers, contributing to the industry's growth.
Dairy Products Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 491.7 billion |
| Market Size by 2030 | USD 635.17 billion |
| CAGR | CAGR of 3.25% over 2023-2030 |
| Key Segments | by Product Type (Milk, Cheese, Butter, Desserts, Yogurt, and Others) by Distribution Channel (Supermarket/ Hypermarket, Specialty Stores, Convenience Stores, and Others) |
| Key Market Players | Arla Foods amba, Fonterra Co-operative Group, GCMMF, The Kraft Heinz Company, Nestle S.A., Danone S.A., Royal FrieslandCampina, Dairy Farmers of America, Inc., DMK Group, Meiji Holdings Co., Ltd. and other players |
| Pricing & Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options. |
Key Takeaway from Dairy Products Market Study
- Milk segment has been a major contributor to the market's sustained growth, and it is showing no signs of slowing down. One of the key drivers behind the segment's dominance is the growing consumer awareness of the nutritional benefits of milk. Milk is an excellent source of essential nutrients such as calcium, protein, and vitamins, making it an indispensable part of a balanced diet. The rising health-consciousness among consumers has led to an increased demand for milk and milk-based products.
- The supermarket/hypermarket segment has played a pivotal role in solidifying the dairy products market. Supermarkets and hypermarkets are preferred by consumers due to their convenience. These retail outlets offer a one-stop shopping experience, where customers can find a wide variety of dairy products, including milk, in a single location. This ease of access has significantly boosted the sales of milk products.
Recent Developments
- Zero Cow Factory, a pioneering company in the realm of animal-free protein and dairy products, has achieved a significant milestone by securing substantial seed funding. The seed funding, which Zero Cow Factory has successfully secured, is poised to fuel the company's innovative endeavors in creating protein and dairy products that are both delicious and cruelty-free.
- The A2 Milk Company, a prominent player in the dairy industry, has recently unveiled a remarkable line of grass-fed milk products, marking a significant step towards providing consumers with an even healthier and more sustainable dairy choice.
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Market Dynamics Analysis
The dynamics of the dairy products market are a complex interplay of various factors, encompassing both drivers and restraints, as well as persistent challenges and emerging threats. On the one hand, the rising global population and the growing awareness of the nutritional benefits of dairy products continue to drive demand. Furthermore, evolving consumer preferences towards healthier and more diverse food options, coupled with the increasing popularity of dairy alternatives, have fostered innovation and product diversification in the market. However, the industry faces notable restraints, such as fluctuating milk prices, supply chain disruptions, and environmental concerns associated with dairy farming. These factors, in turn, pose challenges for manufacturers in terms of maintaining cost-effectiveness and sustainability. Additionally, the dairy market is confronted by evolving dietary trends that have led to a surge in plant-based dairy alternatives, presenting a growing threat to traditional dairy products. To remain competitive in this shifting landscape, dairy industry stakeholders must navigate these dynamic forces by embracing sustainable practices, diversifying their product portfolios, and meeting the evolving demands of consumers.
Key Regional Developments
North America holds a prominent position in the dairy products market. With a mature dairy market, the focus here is on innovation and product diversification. Consumer demands for organic and lactose-free products continue to rise, driving companies to adapt and innovate. Regulatory considerations, such as labeling and safety standards, also play a significant role in shaping the industry. The EU market is known for its stringent quality regulations and subsidies, ensuring high product standards and stable supply. The region is experiencing increasing demand for organic and sustainable dairy products, with a strong focus on environmental and animal welfare considerations. Asia Pacific's dairy market is experiencing rapid growth, driven by increasing disposable income and urbanization. However, food safety concerns and regulatory changes have also made this market highly competitive and challenging.
Impact of Recession
The dairy products market has become increasingly competitive as both established companies and new entrants seek to adapt to the changing economic climate. Well-established dairy giants are acquiring or investing in plant-based dairy alternatives to diversify their product portfolios and tap into the growing market for dairy substitutes. As the ongoing recession continues to shape the market, industry players will need to stay nimble and adaptive to survive and thrive. Investing in research and development for innovative dairy products, optimizing supply chain processes, and understanding shifting consumer preferences will be critical for long-term success.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Dairy Products Market segmentation, Product:
8.1 Milk
8.2 Cheese
8.3 Yogurt
8.4 Butter
8.5 Others
9. Global Dairy Products Market segmentation, By Distribution Channel:
9.1 Supermarkets/Hypermarkets
9.2 Convenience Stores
9.3 Online
9.4 Others
10. Global Dairy Products Market, by region/ country
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company profiles
11.1 Arla Foods amba
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 Swot Analysis
11.1.4 The SNS View
11.2 Fonterra Co-operative Group
11.3 GCMMF
11.4 The Kraft Heinz Company
11.5 Nestle S.A.
11.6 Danone S.A.
11.7 Royal FrieslandCampina
11.8 Dairy Farmers of America, Inc.
11.9 DMK Group
11.10 Meiji Holdings Co., Ltd.
12. Competitive Landscape
12.1 Competitive Bench Marking
12.2 Market Share Analysis
12.3 Recent Developments
13. Conclusion
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