The Dairy Products Market size is estimated to reach $551.3 billion by 2026, growing at a CAGR of 4.6% during the forecast period 2021-2026. Dairy Products or milk products are any foods that contain milk from mammals such as cattle, goats, yaks, camels, buffaloes, and sheep. However, the absence of adequate infrastructure necessary for cold storage and transportation of dairy products in underdeveloped regions is anticipated to hamper growth during the forecast period. The Dairy Products Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Competitive Landscape:
The top 5 players in the Dairy Products industry are –
1. Arla Foods amba
2. Fonterra Co-operative Group
3. GCMMF
4. The Kraft Heinz Company
5. Nestle S.A.
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Segmental Analysis :
1. Based on Product Type, the Dairy Products market is segmented into Milk, Butter, Cheese, Cream, Desserts, Milk Powder, Yogurt, and others. The Milk segment held the largest share of the market in 2020 and is anticipated to continue dominating the market during the forecast period 2021-2026.
2. The large size of Supermarkets/Hypermarkets allows them to house a wide variety of dairy products which is not possible for specialty stores. Moreover, they have temperature-controlled shelves to ensure the dairy products remain fresh.
3. The Dairy Products Market based on Geography can be segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. The Asia Pacific was the largest segment in 2020 with a revenue share of 27%.
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Report Coverage |
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Report Attributes |
Details |
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By Product Type |
Milk, Butter, Cheese, Cream, Desserts, Milk Powder, Yogurt |
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By Application |
Bakery and Confectionary, Clinical Nutrition, Frozen Food |
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By Distribution |
Supermarkets/Hypermarkets, Online Channel, Specialty Stores |
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By Geography |
North America, Europe, Asia-Pacific, South America and Rest of World |
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Market Drivers and Challenges :
1. Owing to the global increase in disposable income and development, the demand for healthy and nutritious food products has seen a rapid increase. This is anticipated to drive the Dairy Products market owing to their high nutritional value and low cost.
2. The global population in 2010 was 6.96 billion, of which 3.59 billion lived in urban areas. In 2020, the global population increased to more than 7.79 billion, of which 4.38 billion lived in urban areas. Moreover, the global population is predicted to reach 9.9 billion by 2050.
3. The increase in cases of lactose intolerance among the global population is causing consumers to completely avoid dairy products in their diet. People with lactose intolerance suffer from bloating, diarrhea, and stomach pains when dairy products are consumed.
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