The global dairy foods market size is likely to reach USD 964.18 billion by 2027, thereby exhibiting a CAGR of 4.6% during the forecast period. The increasing demand for dairy products, namely, yogurt, cheese, and whey proteins among the general population will bode well for the market, states Fortune Business Insights™, in its latest study, titled “Dairy Foods Market Size, Share & Industry Analysis, By Source (Cattle, Sheep, Goat, and Camel), By Type (Lactose and Lactose-free), Product Type (Milk, Cheese, Butter, Dessert, Yogurt, and Others), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027.” The market size stood at reach USD 964.18 billion by 2027.
The Report Lists the Key
Companies in the Global Dairy Foods Market:
- Fonterra
Co-operative Group Limited (Auckland, New Zealand)
- Royal
FrieslandCampina N.V. (Amersfoort, Netherlands)
- Danone S.A.
(Paris, France)
- Nestle S.A.
(Vevey, Switzerland)
- Dairy
Farmers of America, Inc. (Kansas, United States)
- Lactalis
International (Laval, France)
- Arla Foods
Group (Viby, Denmark)
- DuPont de
Nemours, Inc. (Delaware, U.S.)
- Unilever Plc
(London, United Kingdom)
- The Kraft
Heinz Company (Illinois, U.S.)
The report on the dairy foods market includes:
- Present and
future projections
- Information
about Substantial developments
- Exceptional
insights into the regions
- Prime data
about key players
- COVID-19
analysis
DRIVING FACTORS:
Rising Consumption of Value-Added Dairy
Products to Contribute Impetus
The evolving
lifestyles of people and disposable income are factors expected to spur
opportunities for the market. The growing demand for value-added dairy products
such as cheese, butter, creams, and yogurts among consumers will have a
tremendous impact on the market. The increasing cognizance about gut health
will further fuel demand for yogurt, kefir, and other fermented dairy products,
in turn, bolster healthy growth of the market. The rapidly prospering dairy
industry is expected to enable speedy expansion of the market in the
forthcoming years. In addition, the development of innovative powders such as
dairy creams and cheese powder can promote the growth of the market.
Read Detailed Summary of This Report:
https://www.fortunebusinessinsights.com/dairy-foods-market-103890
IMPACT OF COVID-19 PANDEMIC:
Instability in Dairy Production to Disrupt
Business Amid COVID-19
The lockdown
in several regions has severely impacted the global market. The massive drop in
the foodservice industry has resulted in limited demand for dairy products.
Thus, the low demand for higher-value products is expected to hamper the dairy
business. Nonetheless, the growing sale of low-cost dairy products such as milk
powders among consumers will simultaneously aid the market for speedy
recuperation. In addition, the technological advancements to improve the
production of dairy products will promote the market amid coronavirus.
REGIONAL INSIGHTS:
High Demand for Clean-label Products to
Influence Growth in Europe
The market
in Europe is expected to experience a rapid growth rate during the forecast
period due to the growing demand for clean-label dairy products. The shifting
consumer preference towards organic, healthy, non-GMO, lactose-free, and
non-fat milk and dairy products will aid expansion in the region. North America
is likely to hold a small portion in the global market during the forecast
period owing to the shifting consumer preference towards vegan products.
However, the ongoing awareness programs to encourage consumers for animal-based
dairy products can potentially stimulate the market in the region. Moreover,
the rising consumption of infant formula and whey powder will favor growth in
the region.
COMPETITIVE LANDSCAPE:
Key Players Focus on Expanding Their
Portfolios to Compete in Market
Most of the prominent
companies operating in the global market are focusing on broadening their dairy
portfolios to compete with their rivals. Some of the others are trying to
extend their distribution and production capabilities to cater to the high
demand from consumers.
KEY INDUSTRY DEVELOPMENT:
- June 2020: Lactalis International, announced the release of a new skimmed milk powder made by using a specific heat treatment that denatures the protein to obtain a heat-stable powder.
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-dairy-foods-market-10243
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