Dairy By-Products Market Overview
The global Dairy By-Products Market is estimated to expand at an impressive CAGR during the forecast period owing to increasing awareness about consumption of the nutritious food. Additionally, the factors such as increasing per capita income coupled with changing inclination toward the healthy food is driving growth of the global dairy by-products market.
However, the industry is facing challenge due to perishable nature of milk; thus, the key players are investing increasingly for introducing technologies to overcome the problem. This increasing investment for adopting the advanced technologies and innovations for milk and dairy products is estimated to propel the market growth. The demand for milk and milk products such as butter and cheese as the population is increasing is fueling growth of the global dairy by-products market.
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Demand for milk and milk products such as cheese and butter are increasing daily with increase in world population. High-end technology is required to meet these needs by increasing the milk processing capacity and maintaining the quality of the product. The dairy industry is highly localized owing to perishable nature of milk products. According to the FAO, only 7% of milk in the U.S. is exported. Dairy products are exported to the regions where climatic conditions, unmet demand supply ratio, unfavorable government measures and change in exchange rates play a major limiting role. Use of technologically advanced transportation measures for maintaining the efficiency and quality of milk products during long distance export are also anticipated to boost the market growth.
Government arbitration plays a major role in regulating the market growth. Government in key dairy production countries such as Canada monitors the pricing structure and production quantities of main dairy products. it also monitors the process of storing the dairy products in order to maintain the quality of these products for longer durations and avoid unnecessary wastage. Favorable rules and regulation are formed by government bodies in order to protect them from fluctuations in foreign market prices
Competitive Analysis
Some of the major companies in the global Dairy By-Products Market include Nestle S.A. (Switzerland), Danone, Inc. (Canada), Groupe Lactalis S.A. (France), Dairy Farmers of America, Inc. (U.S.), Koninklijke FrieslandCampina NV (the Netherlands), Fonterra Co-operative Group Ltd. (New Zealand), Arla Foods amba (Denmark), Inner Mongolia Yili Industrial Group Co., Ltd. (China), Saputo Inc. (Canada), China Mengniu Dairy Company Ltd. (China).
Market Segmentation
The Dairy By-Products Market is segmented on type, form, application, and region.
Based on Type, the Dairy By-Products Market report is segmented into whey and ghee residue. Of these, whey segment is estimated to remain dominant in the Dairy By-Products Market owing to higher demand for the protein beverages and nutritional supplements.
Based on Form, the market report is segmented into liquid, granules, and powder. Of these, powder segment is predicted to remain dominant in the overall market in the coming years owing to increasing usage of supplements and functional foods.
Based on Application, the Dairy By-Products Market is segmented into functional food, nutraceuticals, functional beverages, dietary supplements, and beverages. Among these, dietary supplements segment is likely to dominant in the market in the coming years owing to demand for the functional as well as nutritional food.
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Regional Analysis
Regionally, the Dairy By-Products Market is segmented into the Americas, Asia-Pacific, Europe, and Middle East & Africa. Of these, North America is estimated to remain dominant in the global Dairy By-Products Market in the coming period owing to the rising demand for the nutritional protein-based food products. Additionally, the European region is estimated to stand on the second position in terms of revenue owing to the considerable backing from robust demand for the dairy by-products. However, Asia Pacific is estimated to be fastest growing region owing to the escalating demand for dietary supplements in the population. In addition to this, largest population as well as one of the largest producers of the dairy products, which is likely to boost dairy by-products market.
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