The global dairy blends market size is expected to reach USD 6.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.9% over the forecast period. The market is expected to witness significant growth due to increase in consumption of dairy products with high nutritional value. Dairy blends are low fat and cost effective alternatives to milk and butter. This is expected to increase market growth and drive the demand in the projected period.
Powdered dairy blends accounted for the largest market share owing to rapid adoption of the product in developed regions like North America and Europe. High product awareness among the population of these regions is expected to propel market growth during the forecast period. However, use of spreadable blends is increasing significantly. They are used in day-to-day consumption as alternatives to butter. Rise in other applications of these products such as sauces and salad toppings is expected to positively influence market growth in the next few years.
Bakery products occupied the maximum market share owing to increase in the overall bakery market and consumer preference for healthy bakery options. However, consumption of dairy blends has witnessed significant growth in infant formulas owing to high nutritional value. This is anticipated to fuel market growth over the next few years.
Asia Pacific held the largest market share in 2018 due to presence of the major dairy manufacturers in Australia and New Zealand. This region is also anticipated to witness substantial growth owing to increasing birth rates, which will propel the demand for infant formulas. However, North America and Europe are anticipated to witness steady growth due to strict regulations on food blends and infant foods. Other regions of the world are expected to witness less demand for the product due to lack of awareness.
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Further key findings from the report suggest:
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Based on product form, the liquid segment is projected to ascend at a CAGR of 5.6% over the forecast period
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Manufacturers are focusing on non-dairy blends like soy-based to cater to the needs of health conscious consumers. Additionally, dairy prices are expected to increase significantly during the forecast period, which may hamper dairy blends market growth
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In May 2018, Arla Groups, U.K. launched Lurpak Softest, a new soft spreadable blend that can be used as an alternative to butter
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Increasing urbanization and high product awareness in countries like Brazil are anticipated to fuel market growth during the forecast period.
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Grand View Research has segmented the global dairy blends market on the basis of product form, application, and region:
Dairy Blends Product Form Outlook (Revenue, USD Million, 2015 – 2025)
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Spreadable
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Powder
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Liquid
Dairy Blends Application Outlook (Revenue, USD Million, 2015 – 2025)
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Ice Cream
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Infant Formula
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Bakery Products
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Other
Dairy Blends Regional Outlook (Revenue, USD Million, 2015 – 2025)
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North America
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U.S.
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Europe
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Germany
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U.K.
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Asia Pacific
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China
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India
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Central & South America
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Brazil
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Middle East & Africa
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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