Global Dairy Market Report by Product Type (Liquid Milk, Flavored Milk, Cream, Butter, Cheese, Yoghurt, Ice Cream, Anhydrous Milk Fat (AMF), Skimmed Milk Powder (SMP), Whole Milk Powder (WMP), Whey Protein, Lactose Powder, Curd, Paneer), and Region 2024-2032

Global Dairy Market Report by Product Type (Liquid Milk, Flavored Milk, Cream, Butter, Cheese, Yoghurt, Ice Cream, Anhydrous Milk Fat (AMF), Skimmed Milk Powder (SMP), Whole Milk Powder (WMP), Whey Protein, Lactose Powder, Curd, Paneer), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A703
Buy Now

Market Overview:

The global dairy market size reached US$ 944.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,459.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.95% during 2024-2032. The rapid urbanization, increasing awareness about health and nutrition, significant technological advancements, rising popularity of dairy-based snacking, shifting dietary preferences and favorable government policies and regulations are some of the major factors propelling the market.

Report Attribute
Key Statistics
Base Year
2023 
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023 US$ 944.7 Billion
Market Forecast in 2032 US$ 1,459.3 Billion
Market Growth Rate 2024-2032 4.95%


Dairy refers to products derived from milk, primarily produced by mammals such as cows, goats, and sheep. The most common dairy products include milk, cheese, butter, yogurt, and cream. Milk is the raw material from which various dairy products are made, and it serves as a valuable source of essential nutrients such as calcium, protein, vitamins, and minerals. Dairy products are an essential part of the human diet, providing numerous health benefits. They contribute to bone health and help reduce the risk of osteoporosis due to their calcium content. Additionally, dairy products contain protein, which aids in muscle growth and repair. The vitamins present in dairy, like vitamin D, support immune function and maintain healthy skin.

Global Dairy Market

The globally growing population translates into an increasing demand for food, including dairy products. Rising global populations, particularly in emerging economies, are contributing to higher consumption of dairy products, driving market growth. Additionally, rapid urbanization and changing dietary patterns, there has been a shift toward processed and convenient foods, including dairy products. As more people migrate to cities, the demand for packaged and on-the-go dairy options is on the rise. Other than this, a growing awareness of the health benefits of dairy products, such as their calcium and protein content, has led to increased consumption. Dairy is recognized as an essential part of a balanced diet, thus escalating the demand for dairy products among health-conscious consumers. Besides this, the popularity of dairy-based snacks and desserts has increased, driven by the convenience of ready-to-eat options. This trend is fostering the development of new dairy products tailored to consumers' snacking preferences. In line with this, the use of dairy derivatives, such as whey protein and lactose, in the food processing industry is increasing. These ingredients enhance the nutritional profile and functionality of various processed foods. Furthermore, international trade plays a vital role in the dairy market. As countries with varying dairy production capacities engage in trade, it affects prices, availability, and consumption patterns worldwide. Moreover, advancements in dairy processing technologies have led to improved production efficiency, product diversification, and extended shelf life. Innovations in packaging and distribution have also contributed to market expansion.

Dairy Market Trends/Drivers:

Rising Population Growth

As the global population continues to grow, so does the demand for essential nutrients like calcium and protein, which are abundantly found in dairy products. Developing countries, in particular, are witnessing rapid population growth, resulting in increased dairy consumption due to improved economic conditions and rising disposable incomes. Additionally, as urbanization accelerates, more people are transitioning from traditional diets to modern ones that include processed foods and dairy products, further boosting the market.

Rapid Urbanization

With more people moving to cities and leading busy lifestyles, convenience has become a key factor in food choices. Dairy companies have capitalized on this trend by offering a wide range of packaged, ready-to-eat, and on-the-go dairy options. Urban consumers are increasingly looking for quick and nutritious meals, making dairy an attractive choice due to its nutritional content and versatility in various recipes. Consequently, the urbanization trend is propelling the growth of the dairy industry.

Increasing Health and Nutrition Awareness

Dairy products are considered an important component of a balanced diet due to their rich calcium content, which is essential for bone health and development. Additionally, dairy is a valuable source of protein, vitamins (such as vitamin D and B12), and minerals (like potassium and magnesium). As consumers become more health-conscious and seek wholesome, nutrient-dense foods, dairy products are witnessing increased demand. Moreover, the growing awareness of lactose intolerance and milk allergies has led to the development of lactose-free and plant-based dairy alternatives, further shaping the market dynamics. Dairy companies are also responding by fortifying products with additional nutrients, catering to the demand for functional foods that support overall well-being.

Dairy Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global dairy market report, along with forecasts at the global and country levels from 2024-2032. Our report has categorized the market based on product type.

Breakup by Product Type:

  • Liquid Milk
  • Flavored Milk
  • Cream
  • Butter
  • Cheese
  • Yoghurt
  • Ice Cream
  • Anhydrous Milk Fat (AMF)
  • Skimmed Milk Powder (SMP)
  • Whole Milk Powder (WMP)
  • Whey Protein
  • Lactose Powder
  • Curd
  • Paneer
     

Liquid milk dominates the market

The report has provided a detailed breakup and analysis of the market based on the product type. This includes liquid milk, flavored milk, cream, butter, cheese, yoghurt, ice cream, anhydrous milk fat (AMF), skimmed milk powder (SMP), whole milk powder (WMP), whey protein, lactose powder, curd, and paneer. According to the report, liquid milk represented the largest segment.

Liquid milk is the largest segment in the dairy market due to its widespread consumption and essential role in daily diets worldwide. As a primary dairy product, liquid milk is sourced directly from mammals like cows, goats, and sheep, making it readily available and accessible to consumers.

One of the key factors driving the dominance of liquid milk is its versatility. It serves as a standalone beverage, a vital ingredient in various recipes, and a base for producing other dairy products like butter, cheese, and yogurt. Its widespread use in cooking, baking, and preparing dairy derivatives contributes to its high demand. Furthermore, liquid milk is perceived as a wholesome and nutritious option, rich in calcium, protein, vitamins, and minerals, all of which are essential for human growth and development. This nutritional profile has solidified its position as a staple food item in many households and contributes to its consistent demand across diverse demographics. Additionally, liquid milk's relatively longer shelf life, when compared to some other dairy products, makes it a convenient and reliable choice for consumers. The availability of different milk variants, such as whole, skimmed, and lactose-free milk, caters to a broader consumer base with varying dietary preferences, further contributing to its market dominance.

Breakup by Region:

  • United States
  • China
  • India
  • Japan
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Australia
  • New Zealand
  • Canada
  • Brazil
  • Mexico
  • Turkey
     

India exhibits a clear dominance in the market

The report has also provided a comprehensive analysis of all the major regional markets, which include the United States, China, India, Japan, Germany, France, the United Kingdom, Italy, Spain, Australia, New Zealand, Canada, Brazil, Mexico, and Turkey. According to the report, India was the largest market for dairy.

With over 1.3 billion people, there is a massive consumer base for dairy products in India. As the population continues to rise, the demand for essential nutrients provided by dairy products also accelerates. Besides this, the agricultural nature of the country ensures a significant presence of livestock, particularly cows and buffaloes. This abundance of milk-producing animals facilitates a steady supply of raw milk for dairy processing and production. Additionally, the Indian dairy industry has witnessed significant modernization and infrastructure development, which has enhanced milk collection, processing, and distribution capabilities. This has made dairy products more accessible to consumers across urban and rural areas. Furthermore, the popularity of dairy-based traditional sweets and snacks, as well as the use of dairy in religious and cultural ceremonies, further boosts the demand for dairy products in India. Moreover, the government's support through various schemes, subsidies, and incentives has also contributed to the growth and stability of the market.

Company Overview:

Leading dairy companies continuously invest in research and development to create innovative dairy products that cater to evolving consumer preferences. This includes introducing new flavors, formats, and packaging to appeal to a broader customer base. Moreover, companies focus on developing value-added dairy products with functional benefits, such as probiotic-enriched yogurt or fortified milk, to meet health-conscious consumers' demands. Additionally, key players often expand their market presence by entering new geographical regions or penetrating untapped markets. This expansion may involve setting up new production facilities, distribution centers, or forming strategic partnerships with local businesses to strengthen their supply chain. Other than this, in response to growing environmental concerns, major dairy companies are implementing sustainable practices throughout their operations. This includes adopting eco-friendly farming techniques, reducing greenhouse gas emissions, and promoting animal welfare. Besides this, robust marketing strategies are employed to build brand awareness and connect with consumers. Key players invest in advertising campaigns, social media presence, and influencer partnerships to engage their target audience effectively.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

  • Nestlé S.A.
  • Fonterra Cooperative Group
  • Royal FrieslandCampina N.V.
  • Arla Foods amba
  • Danone S.A.
  • Lactalis Group

Recent Developments:

  • In March 2022, Fonterra and Future Consumer Limited, an Indian company, jointly decided to bring the operations of their 50:50 joint venture, known as Fonterra Future Dairy, to a close. Fonterra Future Dairy was established as a collaboration between the two companies to explore opportunities in the Indian dairy market.
  • Arla Foods announced its adoption of fiber-based caps for their milk cartons. This initiative signifies Arla's commitment to sustainability and environmental responsibility, aiming to reduce its ecological footprint and promote more eco-friendly packaging solutions.
  • Danone achieved a significant milestone in the baby formula industry with the introduction of its innovative product, the Dairy & Plants Blend baby formula. This launch represents an industry-first, pioneering the incorporation of both dairy and plant-based ingredients into a single formula, catering to the evolving preferences and dietary needs of modern parents and their infants.

Dairy Market Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units Tons, US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Product Type
  • Country
Product Types Covered Liquid Milk, Flavored Milk, Cream, Butter, Cheese, Yoghurt, Ice Cream, Anhydrous Milk Fat (AMF), Skimmed Milk Powder (SMP), Whole Milk Powder, (WMP), Whey Protein, Lactose Powder, Curd, Paneer
Countries Covered United States, China, India, Japan, Germany, France, the United Kingdom, Italy, Spain, Australia, New Zealand, Canada, Brazil, Mexico, Turkey
Countries Covered United States, China, India, Japan, Germany, France, United Kingdom, Italy, Spain, Australia, New Zealand, Canada, Brazil, Mexico and Turkey
Companies Covered Nestlé S.A., Fonterra Cooperative Group, Royal FrieslandCampina N.V., Arla Foods amba, Danone S.A., Lactalis Group, etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 4500
Five User License: US$ 5500
Corporate License: US$ 6500
Post-Sale Analyst Support 26 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the dairy market from 2018-2032.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global dairy market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the dairy industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global dairy market was valued at US$ 944.7 Billion in 2023.

We expect the global dairy market to exhibit a CAGR of 4.95% during 2024-2032.

The rising consumer awareness towards several health benefits of consuming dairy and dairy-based products, such as supporting body growth, building and repairing muscle tissues, maintaining strong bones, and regulating blood pressure, is primarily driving the global dairy market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of dairy and dairy-based products.

Based on the product type, the global dairy market can be bifurcated into liquid milk, flavored milk, cream, butter, cheese, yoghurt, ice cream, Anhydrous Milk Fat (AMF), Skimmed Milk Powder (SMP), Whole Milk Powder (WMP), whey protein, lactose powder, curd, and paneer. Currently, liquid milk exhibits a clear dominance in the market.

On a regional level, the market has been classified into United States, China, India, Japan, Germany, France, United Kingdom, Italy, Spain, Australia, New Zealand, Canada, Brazil, Mexico, and Turkey, where India currently dominates the global market.

Some of the major players in the global dairy market include Nestle, Fonterra, FriesandCampina, Arla Foods, Danone, Lactalis, etc.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Dairy Market Report by Product Type (Liquid Milk, Flavored Milk, Cream, Butter, Cheese, Yoghurt, Ice Cream, Anhydrous Milk Fat (AMF), Skimmed Milk Powder (SMP), Whole Milk Powder (WMP), Whey Protein, Lactose Powder, Curd, Paneer), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More