Dairy Products Market, by Product Type (Milk, Cheese, Butter, Desserts, Yogurt, and Others), by Type (Lactose and Lactose-free) by Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Convenience Stores, and Others), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America), The Dairy Products market size was estimated at USD 517.40 billion in 2023 and is projected to reach USD 684.54 billion in 2030 at a CAGR of 4.08% during the forecast period 2023-2030.
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The prominent players in the Dairy Products Market are:
· Arla Foods amba
· China Mengniu Dairy Co., Ltd.
· Dairy Farmers of America Inc.
· Danone S.A.
· Dean Foods Company
· DMK Group
· Fonterra Co-operative Group Limited
· Frieslandcampina
· GCMMF
· Inner Mongolia Yili Industrial Group Co Ltd
· Kraft Heinz Company
· Lactalis
· Megmilk Snow Brand Co., Ltd.
· Meiji Holdings Co. Ltd.
· Nestle S.A.
· Parmalat S.p.A. and More
Key Findings of Dairy Products Market
· Based on product type, the market is segmented into milk, cheese, butter, desserts, yogurt, and others. Milk dominated the market in this segment. The rising consumption of milk in homes and numerous business establishments throughout the world is to attributed for the domination of milk. The expansion of this sector throughout the worldwide market is being driven by milk's nutritious qualities and growing public awareness of its health advantages.
· Based on type, the market is segmented into lactose and lactose-free. Lactose products dominated the market in this segment. Lactose has a varied range of benefits in the food industry. Lactose is considered less sweet than sucrose. It helps maintain the sugar content of the product without making it too sweet. Due to this, the demand for lactose containing milk has increased substantially.
· Based on distribution channel, the market is segmented into supermarket/hypermarket, specialty stores, convenience stores, and others. The supermarket/hypermarket segment dominated the market in this segment. Due to the availability of a large selection of food and beverage products as well as home goods, supermarkets draw a sizable consumer base. As a result, customers prefer to make weekly or monthly grocery and household supply purchases. The supermarkets are also situated in easily accessible metropolitan locations. The producers of dairy products receive a steady stream of income from this sales channel.
The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
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The Dairy Products is expected to grow during the forecast period. This growth can be attributed to several factors. Population growth, consumer income growth, increased health consciousness, increased milk production in emerging countries, and increased protein-fortified food consumption, all contribute to the rising demand for dairy products.
Moreover, growing knowledge of the health advantages of these products is expected to boost the growth of the market further during the forecast period. However, the rising competition from alternatives as well as rising awareness about animal welfare might hamper the growth of the market during the forecast period.
Asia-Pacific to Dominate the Dairy Products Market
· Asia-Pacific is estimated to account for the largest market share during the forecast period. This can be attributed to factors such as large population, increased milk consumption, expanded milk production, rising government measures to improve milk output, rising disposable income, and fast urbanization.
· Moreover, growing consumer knowledge of the health advantages of dairy products is expected to drive the growth of the market further during the forecast period.
Recent Developments
In September 2023, Bellamy's Australia, a manufacturer of organic baby formula, was purchased by China Mengniu for USD 1 billion.
In October 2022, Unilever partnered with ASAP for the distribution of its ice cream goods. As per the partnership, ASAP will also deliver ice cream and treats from Unilever's virtual storefront, The Ice Cream Shop.
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· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
Frequently Asked Questions
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· What is the compound annual growth rate (CAGR) of the Dairy Products Market?
· Which region holds the largest market share in Dairy Products Market?
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· Who are the major players in Dairy Products Market?
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