Dairy Product Market is Anticipated to Cross USD 720.77 Billion by 2028 at a CAGR of 5.2% from 2022-2028; Rising Consumer Demand for Protein-Rich Food Globally to Elevate Market Growth
SkyQuest, a leading research firm, has published an extensive research report on the dairy product market, offering valuable insights into the latest trends and developments in the industry. The report provides a detailed analysis of critical market factors and case studies of prominent companies in the market, making it an indispensable resource for decision-makers seeking to make informed strategic decisions. It also identifies expansion opportunities and effective growth strategies, enabling decision-makers to develop robust market entry and expansion strategies.
Westford, USA,, March 15, 2023 (GLOBE NEWSWIRE) — The dairy product market is projected to grow exponentially in Europe, with Asia Pacific and North America emerging as competitors. This growth can be attributed to the rising consumption of dairy products and a shift in consumer preferences from meat to dairy for protein enrichment. Additionally, modern retail facilities and improved cold chain logistics have made dairy products more readily available, further driving the market growth. Furthermore, as more consumers become health-conscious, they increasingly turn to dairy products as a healthier alternative to meat, positively influencing the market.
According to the research conducted by SkyQuest, global milk consumption in 2021 was estimated to be around 198 million tons. This statistic clearly indicates the tremendous potential for growth in the dairy product market. Furthermore, as the population continues to increase, the demand for milk and other dairy products is also expected to rise.
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Browse in-depth TOC on “Dairy Product Market”
- Pages – 274
- Tables – 92
- Figures – 66
Dairy products offer various health benefits and are a valuable source of essential nutrients. The right selection and portion control can be an excellent addition to a healthy and balanced diet. In addition, dairy products are an essential source of nutrients, including calcium, vitamin D, and protein, making them an integral component of a healthy and balanced diet.
Prominent Players in Dairy Product Market
- Nestle S.A.
- DMK Group
- Arla Foods Amba
- Amul
- Danone S.A.
- Royal FrieslandCampina
- Dean Foods Company
- Meiji Holdings Co., Ltd.
- Chobani LLC.
- The Kraft Heinz Company
- Dairy Farmers of America, Inc.
- Parmalat S.P. A.
- Fonterra Co-Operative Group
- Sancor Cooperatives Unidas Limited
Milk Segment to Capture Significant Revenue Thanks to Its Wide Availability and Relatively Inexpensiveness, Making It Accessible to a Large Population
According to recent market research, the milk segment experienced the most robust growth in the dairy product market in 2021. Furthermore, the research also predicts that this segment will continue to dominate the market from 2022 to 2028. The remarkable growth of the milk segment can be attributed to the increasing demand for milk and milk-based products worldwide. In particular, the growing awareness among consumers about the health benefits of milk has contributed significantly to the growth of this segment. As a result, consumers are increasingly choosing milk as a healthy and nutritious alternative to sugary drinks and other unhealthy beverages.
The dairy product market is a significant segment of the food industry, and Europe has been a key revenue contributor to this sector in recent years. According to market analysis, Europe remained the dominant region for dairy product sales in 2021 and is expected to maintain this position in the market until 2028. The growth can be attributed to various factors, including the region’s strong dairy farming culture and the high consumer demand for dairy products. Additionally, the dairy industry is highly regulated, ensuring that the products meet strict quality standards, which increases consumer confidence and trust in dairy products.
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Convenience Store Segment to Attain High Growth Rate as It Offers a Wide Variety of Dairy Products at Affordable Prices
According to research conducted in 2021, the convenience store segment had the largest share of the dairy product market. The study further suggests that this segment is expected to continue its dominance from 2022 to 2028. Convenience stores have increasingly offered private-label dairy products that are less expensive than branded products. This has made dairy products more affordable, increasing demand and sales.
The dairy product market in 2021 has witnessed healthy competition from North America, but the Asia Pacific region has emerged as the most promising region. The demand for dairy products in the Asia Pacific region has been increasing steadily, driven by population growth, rising disposable incomes, and changing dietary habits. One of the key drivers of the market in the Asia Pacific region is the growing middle class, which is increasingly adopting Western-style diets that include dairy products.
SkyQuest’s recent research report provides valuable insights for new and established brands seeking a foothold in the dairy product market. In today’s competitive business environment, companies constantly search for ways to gain an edge over their rivals. This often entails forming strategic partnerships, acquiring other businesses, merging with competitors, and pursuing joint ventures to enhance their market share and solidify their position in the industry.
Key Developments in Dairy Product Market
- Next Gen Foods, a leading food technology company, has recently announced the acquisition of a non-dairy gelato startup, signaling its commitment to providing consumers with innovative and sustainable food options. The acquisition is a strategic move by Next Gen Foods to expand its product offerings and strengthen its position in the growing market for plant-based and dairy-free desserts. Non-dairy gelato has gained popularity recently as consumers increasingly seek healthier and more environmentally friendly alternatives to traditional dairy products.
- Leprino Foods, a leading global cheese manufacturer, and Univar Solutions, a global chemical and ingredient distributor, have recently announced a new distribution agreement. This deal will allow Univar Solutions to distribute Leprino Foods’ ingredients, including cheese powders, seasonings, and other dairy products, to food manufacturers across the United States, Canada, and Mexico. By partnering with Univar Solutions, Leprino Foods can expand its reach and provide high-quality ingredients to a wider range of food manufacturers.
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Key Questions Answered in Dairy Product Market Report
- What are the primary factors driving or hindering the growth of the global market, and how are these factors impacting its progress?
- Can you provide a brief historical overview of the market’s performance, and what are the future growth prospects based on current and anticipated trends?
- Who are the significant players in the market, and how competitive is the industry landscape currently?
- What are the latest emerging trends shaping the market, and how are they expected to impact growth and innovation in the coming years?
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