According to the latest report by IMARC Group, titled “Dairy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global dairy market is expected to exhibit a CAGR of 5.09% during 2022-2027. Dairy products are produced by using milk harvested from animals. Some of the common dairy items include cheese, ice cream, butter, and yogurt. Dairy production plants employ two types of processing, namely heat treatment and dehydration. These processes help to extend the shelf life and ensure the safety of the end-product for human consumption. Dairy products are rich in carbohydrates, protein, calcium, potassium, phosphorus, riboflavin, and vitamins A, D, and B12. These compounds offer several health benefits, like supporting body growth, building and repairing muscle tissues, maintaining strong bones, and regulating blood pressure.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Dairy Market Trends:
Due to hectic working schedules, there has been an increase in the demand for ready-to-eat (RTE) products, such as butter, frozen desserts, milk powder, and yogurt, which is contributing to the market growth. Subsequently, evolving food habits have further led to the establishment of fast-food chains and quick service restaurants (QSR), wherein different varieties of cheese, condensed milk, buttermilk, and sour milk are employed as major ingredients. Moreover, the rising availability of flavored milk and ice creams in innovative flavors, such as chocolate, strawberry, vanilla, and almond, is acting as a growth-inducing factor. Apart from this, key players in developing regions are consistently investing in improving the milk procurement network and promote domestic dairy farming practices, which is creating a positive outlook for the market. In addition to this, the advent of modern retail facilities and improvement in cold chain logistics, particularly in emerging economies, are further supporting the market growth. A significant increase in research and development (R&D) activities in the dairy industry to introduce novel product variants and expand existing product portfolios is fueling the market growth further. Other factors, such as rising health concerns, increasing population and rapid urbanization and industrialization, are also driving the global dairy market growth.
- Based on the milch animal, the market has been divided into cows, buffaloes, and others.
- Region-wise, the market has been segregated into USA, Brazil, Argentina, India, China, Japan, New Zealand, Australia, Germany, Ireland and Italy.
- The competitive landscape of the industry has also been examined, with some of the key players being Nestle, Danone, Lactalis, Fonterra, FrieslandCampina, Dairy Farmers of America, Arla Foods, Dean Foods and DMK.
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