Global Dairy Market

Analysis from GMI Research finds that the Dairy Market earned revenues of USD 962.2 billion in 2022 and estimated to touch USD 1,421.6 billion in 2030 will grow at a CAGR of 5.0% from 2023-2030.

Dairy products are produced by the processing or harvesting of animal milk, including cow, camel, goat, buffalo, and sheep. It is a rich source of various nutrients such as proteins, calcium, magnesium, zinc, vitamin D, and B12, among other nutrients that reduces the risk of cancer and improves the overall health of people. The dairy products include various types of products such as milk, cheese, dairy desserts, cheese, yogurt, and others.

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Major Dairy Market Drivers

The numerous factors driving the growth of the global Dairy market include the increasing population, rising per capita income, and the growing health concerns among the consumers across the globe. Increased consumption of dairy products driven by the change in the consumption pattern of people will drive the demand of the global dairy market. Moreover, increasing awareness regarding the nutritional benefits of dairy products is encouraging them to opt for healthier options, thereby boosting the growth of the global dairy market. Rising adoption of a healthy lifestyle, along with the growing demand for the high-quality food products, will further increase the demand for the dairy market in the upcoming years. The inclination of consumers towards nutritional rich food products driven by the increasing consumer spending will further create new opportunities for the growth of the global dairy market. Major manufacturers are focussing on various products launch with improved quality, which will open new doors for the growth of the market over the forecast period. However, the growing demand for plant-based food products will hamper the growth of the global dairy market.

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Based on the Product Type, milk segment is anticipated to dominate the global dairy market owing to the growing demand for milk across the globe. For instance, as per the Food and Agriculture of the United Nations (FAO), global milk production increased by 1.8% i.e., 852 Million in 2019 as compared to 2018, mainly due to the increased production in countries like India, Brazil, Pakistan, U.S., among others. On the other hand, the yogurt segment is expected to grow at a higher CAGR during the forecast period due to the increasing consumption of yogurt among consumers.

Based on the Distribution Channel, supermarkets/hypermarkets segment is projected to witness faster CAGR due to the high availability of dairy products in one place, along with attractive discounts. Furthermore, growing consumer preference to buy dairy products through this channel will support the growth of the supermarkets/hypermarkets segment.

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Regional – Segment Analysis     

Based on the region, Asia-Pacific region is expected to grow at a faster CAGR during the forecast period owing to the rapid urbanization, increasing population size, growing consumption of dairy products, and the rising health concern among the people. For instance, as per the Food and Agriculture of the United Nations (FAO), milk production in Asia has increased by 2.9% in 2019 as compared to 2018, which is mainly driven by the increasing demand in India and Pakistan. In addition to this, India milk production is expected to increase due to the growing demand for dairy products among population.

Top Market Players

Various notable players operating in the market include Nestle SA, Fonterra Group Cooperative Limited, Arla Foods, Danone S.A., FrieslandCampina, Dairy Farmers of America Inc., Dean Foods Company, Lactalis International, Yili Group, Kraft Foods Inc., China Mengniu Dairy Company Limited, and DMK Group, among others.

 Key Developments:

• • In 2020, Yili Group planned to expand its production base for organic dairy products in Hinggan League in China. The company planned to increase its fresh milk processing capacity of 4,000 tonnes on daily basis for organic dairy products.
  • In 2020, Nestle S.A. launched a new R & D center in Switzerland for dairy products and plant-based dairy alternatives. Through this center, the company planned to expand its portfolio in dairy business.
  • In 2020, FrieslandCampina completed the acquisition of dairy business from Nutricima Ltd. Through this acquisition, the company planned to increase the production capacity of dairy products in order to cater to the increasing demand for evaporated milk and powder milk which are produced locally.

Segments covered in the Report:

The global Dairy market has been segmented on the basis of Product Type, Distribution Channel, and regions. Based on Product Type, the market is segmented into Milk, Cheese, Butter, Dairy Desserts, Yogurt, and Others. Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail Stores, and others.

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Key questions answered in this research report:

• • At what pace is global Dairy market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Dairy market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Dairy market?
  • Which Product Type generated maximum revenues in 2022 and identify the most promising Product Type during the forecast period?
  • What are the various Distribution Channel areas of global Dairy market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Dairy Market by Product Type

• • Milk
  • Cheese
  • Butter
  • Dairy Desserts
  • Yogurt
  • Others

Global Dairy Market by Distribution Channel

• • Supermarkets/Hypermarkets
  • Convenience Stores
  • Specialist Retailers
  • Online Retail stores
  • Others

Global Dairy Market by Region

• • North America Dairy Market (Option 1: As a part of the free 25% customization)
    • By Product Type
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up
  • Europe Dairy Market (Option 2: As a part of the free 25% customization)
    • By Product Type
    • By Distribution Channel
    • UK Dairy Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Dairy Market (Option 3: As a part of the free 25% customization)
    • By Product Type
    • By Distribution Channel
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Dairy Market (Option 4: As a part of the free 25% customization)
    • By Product Type
    • By Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Global Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Dairy (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Nestle SA
  • Fonterra Group Cooperative Limited
  • Arla Foods
  • Danone S.A.
  • FrieslandCampina
  • Dairy Farmers of America Inc.
  • Dean Foods Company
  • Lactalis International
  • Yili Group
  • Kraft Foods Inc.
  • China Mengniu Dairy Company Limited
  • DMK Group