Dairy Products Market Size & Share to Exceed USD 964.9 Billion by 2034, at CAGR of 7.10%. “Moo-ving Towards Dairy Delights: A Creamy Revolution in the Dairy Products Market!” – PMI Leads the Way

Covina, Feb. 01, 2024 (GLOBE NEWSWIRE) — “According to the recent research study, the Dairy Products Market size was valued at about USD 517.4 Billion in 2024 and expected to grow at CAGR of 7.10% to extend a value of USD 964.9 Billion by 2034.”

What is Dairy Products?

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  • Market Overview:

Dairy products are food items that are derived from milk and produced by the processing of milk from mammals, most commonly cows, but also goats, sheep, and buffalo. These products include a wide range of items with varying textures, flavors, and nutritional profiles.

Some common dairy products include:

  • Milk: The primary source of all dairy products, available in various forms such as whole milk, skim milk, and different fat percentages.
  • Cheese: Produced by coagulating milk proteins and separating the whey, resulting in a diverse array of textures and flavors. Examples include cheddar, mozzarella, and brie.
  • Yogurt: Fermented milk product created by bacterial fermentation of milk, often with the addition of probiotic cultures. It can be plain or flavored and has a creamy texture.
  • Butter: Made by churning cream or milk to separate the fat from the liquid. Butter is widely used in cooking and baking.
  • Cream: The fatty part of milk, separated by centrifugation, and available in various forms such as heavy cream, light cream, and whipping cream.
  • Ice Cream: A frozen dessert made with dairy products, sweeteners, and flavorings. It comes in numerous flavors and varieties.
  • Milk Powder: Dehydrated milk with the water content removed, often used as a convenient and long-lasting form of milk.
  • Condensed Milk: Sweetened milk with a thick, syrupy consistency, commonly used in desserts and baking.
  • Evaporated Milk: Canned milk with about 60% of the water content removed, used in cooking and baking.

Dairy Products Market

  • Market Dynamics:

Driving Factors:

  • As the global population continues to grow, especially in urban areas, the demand for convenient and nutritious food options, including dairy products, has increased.
  • Higher disposable incomes in many regions allow consumers to afford a diverse range of dairy products, including premium and value-added options.
  • Growing awareness of the nutritional benefits of dairy products, such as being a good source of calcium, protein, and other essential nutrients, contributes to sustained demand.
  • Effective marketing strategies and advertising campaigns by dairy product manufacturers help create awareness and drive consumer interest in their products.
  • Government policies and initiatives promoting dairy farming, production, and consumption can impact the market positively. Subsidies, financial support, and regulations play a role in shaping the industry.
  • Improvements in processing technologies contribute to increased efficiency, shelf life, and the development of new dairy products, meeting consumer expectations for quality and convenience.

Restrain Factors:

  • Lactose intolerance and dairy allergies.
  • Health concerns.
  • Rising vegan & plant-based trends.
  • Supply chain disruptions.
  • Government regulations.
  • Price volatility of raw materials.

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*Note: PMI Sample Report includes,

  • Overview & introduction of market study
  • Revenue and CAGR of market 
  • Drivers & Restrains factors of market 
  • Major key players in market 
  • Regional analysis of the market with a detailed graph
  • Detailed segmentation in tabular form of market 
  • Recent development/news of market 
  • Opportunities & Challenges of Market 

Report Scope:

Attribute Details
Market Size 2024 US$ 517.4 billion
Projected Market Size 2034 US$ 964.9 billion
CAGR Growth Rate 7.10%
Base year for estimation 2023
Forecast period 2024 – 2034
Market representation Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation By Type – Cheese, Butter, Yoghurt, Ice cream, Buttermilk, Cream, and Others
Regional scope North America – U.S., Canada

Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America – Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage Revenue forecast, company share, competitive landscape, growth factors, and trends

Top Leading Players in Dairy Products Market:

  • Dean Foods Company
  • China Mengniu Dairy Company Limited
  • Savencia SA
  • Anand Milk Union Limited (AMUL)
  • Nestlé S.A.
  • Groupe Lactalis S.A.
  • Dairy Farmers of America, Inc.
  • Danone SA
  • The Kraft Heinz Company
  • Fonterra Co-operative Group Limited

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  • Emerging Trends and Opportunities in Dairy Products Market:
  • Consumer interest in health and wellness has led to the development of dairy products fortified with vitamins, minerals, probiotics, and other functional ingredients, offering added nutritional benefits.
  • The demand for high-quality, artisanal, and premium dairy products, including specialty cheeses and organic options, is growing as consumers seek unique and indulgent experiences.
  • Consumers are increasingly concerned about the environmental impact of food production. Dairy companies adopting sustainable and ethical practices, such as eco-friendly packaging and animal welfare initiatives, can capitalize on this trend.
  • Sustainable and convenient packaging solutions, such as eco-friendly materials and portion-controlled packaging, are gaining traction, aligning with consumer preferences for environmentally conscious choices.
  • The trend towards on-the-go snacking and convenience foods has created opportunities for dairy snacks, such as yogurt cups, cheese sticks, and protein-packed dairy-based snacks.
  • The use of technology, including blockchain for supply chain transparency and artificial intelligence for production optimization, enhances efficiency and quality control in the dairy industry.
  • Challenges of Dairy Products Market:
  • Increasing awareness of health issues related to certain dairy products, concerns about lactose intolerance, and changing consumer preferences towards plant-based alternatives pose challenges to traditional dairy consumption.
  • The dairy industry is under scrutiny for its environmental footprint, including issues related to deforestation, water usage, and greenhouse gas emissions. Meeting sustainability goals and reducing environmental impact can be challenging for some dairy producers.
  • Disruptions in the supply chain, whether due to natural disasters, diseases affecting dairy animals, or transportation issues, can impact the availability and pricing of dairy products.
  • Stringent regulations related to food safety, labeling, and animal welfare can pose challenges for dairy producers, requiring investments in compliance measures and potential changes to production processes.
  • While technology presents opportunities for efficiency and innovation, the adoption of new technologies in the dairy industry may face resistance due to cost implications, infrastructure requirements, or lack of expertise.

Detailed Segmentation:

Dairy Products Market, By Type:

  • Cheese Butter
  • Yoghurt
  • Ice-cream
  • Buttermilk
  • Cream
  • Others

Dairy Products Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Key highlights of the Dairy Products Market:

  • The dairy products market is substantial, with a global reach that spans various regions and countries. The market encompasses a wide range of products, contributing to its significant size.
  • Dairy products are recognized for their nutritional value, being rich sources of essential nutrients like calcium, protein, vitamins, and minerals. This nutritional profile contributes to their role in a balanced diet.
  • Changing consumer preferences: Changing consumer preferences, driven by factors such as health consciousness, sustainability concerns, and dietary choices, influence the types of dairy products that gain popularity.
  • Emphasis on health: The emphasis on health and wellness has led to the development of functional and fortified dairy products, aligning with consumer preferences for products that offer additional health benefits.
  • Integration of technology: The integration of technology in dairy production processes, including precision farming, automation, and data analytics, enhances efficiency, quality control, and overall productivity.
  • Innovation: Innovations in packaging, including sustainable and eco-friendly options, contribute to the market’s evolution, meeting consumer demands for environmentally conscious choices.
  • Rising consumer awareness: Increasing consumer awareness and demand for transparency in food production processes have prompted companies to focus on clear labeling, providing information about sourcing, production methods, and nutritional content.
  • Asia Pacific dominance: Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period, owing to the high rate of car ownership, rise in emphasis on preventative maintenance, and the presence of a large number of international and local auto manufacturers in the region.

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