Dairy Food Market Size to grow by USD 88.1 billion between 2024-2028
According to a research report “ Dairy Food Market” by Product (Milk, Cheese, Yogurt, Butter, Others) Distribution Channel (Supermarkets, Convenience stores, Online) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 88.1 billion, at a CAGR of 2.09% during the forecast period. The global incidence of bone diseases, including osteoporosis, arthritis, hypocalcemia, Paget's disease, and osteogenesis imperfecta, is on the rise due to insufficient calcium intake. According to the National Institutes of Health (NIH), osteoporosis alone accounts for approximately 9 million fractures annually, with a higher prevalence among females. With females comprising 49.6% of the global population (World Bank Group, 2020), the demand for dairy food products, rich in calcium, is expected to increase significantly to mitigate the risk of bone diseases and related complications..
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By Product, the Milk segment is projected to dominate the market size in 2024
In the dairy food market, milk is a vital product renowned for its rich nutritional content. It is an essential source of calcium, vitamin B12 (riboflavin), iodine, potassium, phosphorus, and vitamin B2. An insufficient intake of calcium throughout one's life can lead to the development of debilitating bone diseases, such as osteoporosis. Milk's calcium content plays a crucial role in bone health. Nutritionists and medical professionals recommend that females, who are more susceptible to bone diseases due to hormonal changes, consume milk regularly. Organic milk, a premium offering in the market, boasts enhanced nutritional value with high levels of nutrients and omega-3 fatty acids, and it is free from pesticides and antibiotics.
By Distribution Channel, Supermarkets segment is expected to hold the largest market size for the year 2024
The supermarkets segment serves as a significant distribution channel for the global dairy food market, supplying a vast selection of dairy items, including milk, cheese, yogurt, and butter, to consumers. Supermarkets' appeal lies in their convenience, extensive variety, and competitive pricing, drawing in a vast consumer base. Strategic product placement, promotions, and private-label offerings are utilized by supermarkets to boost sales. With the increasing consumer trend towards organic and specialty dairy products, supermarkets are broadening their ranges to cater to this demand. Advancements in cold chain logistics ensure the preservation of dairy products' freshness and quality, enhancing their appeal in supermarkets worldwide. These factors are anticipated to fuel the expansion of the supermarkets segment within the global dairy food market throughout the forecast period.
APAC is forecasted to hold the largest market size by region in 2024
The dairy food market represents a significant business sector, characterized by continuous growth and innovation. Key players in this industry focus on producing high-quality products, adhering to stringent regulations, and catering to evolving consumer preferences. Product offerings range from traditional dairy items to plant-based alternatives, with a strong emphasis on sustainability and ethical production practices. Market trends include increased demand for organic and lactose-free options, as well as the integration of technology to enhance efficiency and consumer engagement.
The Dairy Food Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The dairy food market is witnessing significant growth due to the increasing consumer awareness towards the nutritional value of dairy products. The market is driven by the presence of key players like Yum Brands, Walki, Arla Foods, Danone, Fonterra, and others. The market for dairy products is expected to expand due to the rising demand for fermented dairy products, which contain beneficial oligosaccharides, probiotic bacteria, organic acids, antioxidants, and specific proteins. These bioactive components enhance the nutritional value of dairy products and offer several health benefits. Moreover, the incorporation of conjugated linoleic acid and vitamins in dairy products is also fueling the market growth. The dairy industry is witnessing a shift towards online retail, which is providing convenience to consumers. However, the labor shortage is posing a challenge to the industry. Key players in the market are focusing on research and development to launch new products. For instance, Fonterra has launched a new range of high calcium milk, which is highly absorbable, catering to the growing demand for calcium-rich dairy products. Precedence Research predicts that the global dairy food market will reach USD722.6 billion by 2027. The market includes various dairy products such as ice creams, spreads, cheese, and yogurt. The market for dairy products is expected to grow at a significant CAGR due to the increasing demand for nutritious and healthy food options.
Market Research Overview
The dairy food market is a significant sector in the global food industry, encompassing a wide range of products from Iron-fortified milk to functional yogurts. These foods are rich in essential minerals like calcium, phytosterols, Omega-3 fatty acids, and prebiotic fibers, as well as probiotic microorganisms, organic acids, antioxidants, and bioactive peptides. Brands like Yum Brands, Walki, Arla Foods, Danone, and Fonterra dominate the market, offering functional foods like fermented dairy products fortified with vitamins and specific proteins. The market caters to various segments, including cattle milk, goat milk, sheep milk, and plant-based alternatives like oat milk-based beverages. Brands like Starbucks Corporation are also venturing into plant-based foods to cater to the lactose-intolerant population. Sustainable dairy production is a growing trend, with companies focusing on using raw materials efficiently and addressing labor shortages. Products like Skyr yogurt, Milkymist, and personalized and premium dairy products are gaining popularity. Convenience stores, supermarkets/hypermarkets, and online retail are the primary distribution channels. Lactose-free dairy products, including lactose sugar and ice creams, are also in demand. Brands are exploring the use of sustainable practices, such as using conjugated linoleic acid and specific proteins, to enhance the nutritional value of their products. Cheese, spreads, and yogurt remain popular categories within the dairy food industry, with milk oversupply posing a challenge for market growth.
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