Dairy products have been an essential part of the human diet for many centuries. They are considered highly nutritive as they are rich in carbohydrate, protein, calcium, phosphorus, potassium, vitamins A, D, B12, riboflavin and niacin. Apart from this, dairy products also offer numerous health benefits such as maintaining strong bones, supporting body growth, building and repairing muscle tissues, promoting good vision and regulating blood pressure. IMARC Group’s latest report, titled “Global Dairy Market Report, Trends and Forecast (2018-2023)”, finds that the global dairy market reached a value of US$ 633.6 Billion in 2017, growing at a CAGR of nearly 8% during 2010-2017.
Highlights of the Global Dairy Market:
- A strong demand from emerging markets remains the primary growth driving factor.
- Cow milk is most popular, accounting for the majority of the market share.
- Asia accounts for the majority of the global share, representing the largest market.
The market has experienced an imbalanced demand-supply ratio in recent years due to a sluggish demand in the key import markets. The sudden fall in the imports from the two largest dairy importers, China and Russia, resulted in the fall of dairy prices. Nonetheless, growing health consciousness, increasing disposable incomes, healthy innovations in dairy products and a strong demand from emerging markets are some of the factors that are projected to sustain the global demand for dairy products during the forecast period. According to the report, the market is expected to reach a value of more than US$ 925 Billion by 2023.
The market has been segmented on the basis of milch animals. Currently, cow milk accounts for the majority of the market share. On the basis of region, Asia represents the largest producer of raw milk accounting for nearly a third of the total global share. The other major regions include the European Union, North America, Latin America, Eastern Europe, Oceania and Others. Some of the key players operating in the market are Nestle, Danone, Lactalis, Fonterra, FrieslandCampina, Dairy Farmers of America, Arla Foods, Dean Foods and DMK.
The report has examined the global dairy market on the basis of:
- The European Union
- North America
- Latin America
- Eastern Europe
- Dairy Farmers of America
- Arla Foods
- Dean Foods
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal