Press release
Understanding Market Dynamics and Consumer Preferences in the Dairy Products Industry
Dairy Products Market
The dairy products market size is expected to see steady growth in the next few years. It will grow to $628.29 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to cultural diversity and adaptation, global trade and market expansion, health and nutrition trends, plant-based alternatives growth, premiumization and specialty offerings.. Major trends in the forecast period include cultural preferences and diversity, nutritional awareness, clean label and transparency, globalization and international markets, convenience and snacking..
Market Overview -
Dairy products refer to food products that contain or are derived from milk and its derivatives by secretion of the glands of mammals, such as cows, sheep, or goats. The milk is processed and turned into a variety of products. They are used for nutrients and health benefits that help in building and maintaining strong bones.
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Surging Demand Propels Growth In The Dairy Products Market
Rising demand for cheese is expected to propel the dairy products market going forward. Cheese refers to a dairy product that is made from curds of soured milk that are pressed together and form a soft or hard solid when allowed to ripen. It often consists of coagulated, compressed milk, and usually ripened curd. Cheese is a dairy product that is formed by milk that has been separated for whey and by pressing ripe curds, thus, increasing demand for cheese will propel market growth. For instance, in 2022, according to the USDA Economic Research Service, a US-based provider of information and research on agriculture and economics, the US per capita consumption of cheese increased to 40.3 pounds in 2021 from 40.1 pounds in 2020, and the total U.S. cheese production in 2020 was 13.25 billion pounds. Therefore, the rising demand for cheese is driving the dairy products market.
Competitive Landscape -
Major companies operating in the dairy products market report are Arla Foods amba, Fonterra Co-operative Group Limited, The Kraft Heinz Company, Nestlé S.A., Danone S.A., Royal FrieslandCampina N.V., Dairy Farmers of America Inc., DMK Group, Gujarat Cooperative Milk Marketing Federation Ltd., Meiji Holdings Co. Ltd., Parmalat S.p.A., Sodiaal Group, Unilever N.V., Inner Mongolia Yili Industrial Group Co. Ltd., China Mengniu Dairy Co. Ltd., Megmilk Snow Brand Co. Ltd., Saputo Inc., Lactalis International, Dean Foods Company, Agropur Cooperative, Kaira District Co-operative Milk Producers' Union Limited., Arion Dairy Products BV, Bel Group S.A., Savencia SA, Cabot Creamery Cooperative Inc., California Dairies Inc., Clover Sonoma Inc., Darigold Inc., Davisco Foods International Inc., Foremost Farms USA, Glanbia plc., Hilmar Cheese Company Inc., Idaho Milk Products, Kerry Group plc., Land O'Lakes Inc., Leprino Foods Company .
Danone Introduces Aptamil, A Groundbreaking Dairy And Plant Blend Baby Formula, Revolutionizing The Dairy Products Market
Product innovations have emerged as a key trend gaining popularity in the dairy products market. Major companies operating in the dairy products market are focused on product innovations to strengthen their market position. For instance, in July 2022, Danone SA, a France-based multi-local food and beverage company, launched Aptamil, the industry's first dairy and plant blend baby formula. It is uniquely designed with combination of dairy and plant blend recipe with 60% of plant protein and 40% of dairy protein. The blend includes selected plant proteins, fats, and fibers that have a 30% lower carbon footprint by using recyclable packaging and supporting regenerative agriculture methods. It is suitable for vegetarian and plant-based diets that also meet the baby's nutritional requirements.
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Key Segments -
The dairy products market covered in this report is segmented -
1) By Product Type: Milk, Cheese, Butter, Desserts, Yogurt, Other Types
2) By Distribution Channel: Supermarket, Hypermarket, Specialty Store, Online Retail, Other Channels
3) By Application: Bakery and Confectionary, Clinical Nutrition, Frozen Foods, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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