According to the latest report by IMARC Group, titled "Dairy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global dairy market size reached US$ 718.9 Billion in 2019. Dairy refers to a business enterprise that consists of farms, milch animals and cultivated land as essential components. It is engaged in the processing and harvesting of animal milk for human consumption. The milk obtained from cows, goats, buffalos, camels and sheep can be distributed as fluid milk comprising of varying cream content, such as skimmed, full cream or double toned. It can be further processed into numerous dairy products, including cheese, cream, yogurt, milkshakes, butter, milk powder and condensed milk. These products are a rich source of proteins, calcium, zinc, vitamins and magnesium.
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:
The market is primarily driven by the increasing demand for milk and milk-based products across the globe. This, in confluence with the significant growth in the food and beverage sector on account of shifting dietary patterns and inflating disposable income levels of the masses, is contributing to the market growth. The food and beverage sector extensively utilizes milk and milk-based products in the preparation of multiple dishes. The escalating preference for organic variants and clean label products that are free from additives, artificial preservatives or chemicals is acting a major growth-inducing factor. The market is further driven by technological advancements in the dairy industry. Market players are extensively integrating the production process with sensors, robotics, drones, data analytics and digital technology. This has assisted them in quantifying data, monitoring operations and improving decision-making capabilities, thereby creating a positive outlook for the market. On account of the aforementioned factors, the market is projected to exhibit moderate growth during 2020-2025.
- On the basis of the product type, the market is divided into fluid milk, UHT Milk, flavored milk, cream, table butter, ghee, anhydrous milk fat (AMF), skimmed milk powder, whole milk powder, whey protein (powder and concentrate), lactose powder, casein, cheese, yogurt, ice-cream, Indian cheese (paneer), and probiotic dairy products. Among these, fluid milk accounts for the majority of the total market share.
- On the geographical front, India holds the leading position in the market. Some of the other key regions include the United States, Brazil, Argentina, China, Japan, New Zealand, Australia, Germany, Ireland and Italy.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include Nestlé S.A., Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Arla Foods amba, Danone S.A., Lactalis Group, Dairy Farmers of America Inc., Dean Foods, and DMK Group.
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