Dairy Food Market Analysis 2024-2028

The dairy food market is forecasted to experience significant growth, with an expected increase of USD 88.1 billion at a CAGR of 2.09% from 2023 to 2028. This growth is largely attributed to the increasing adoption of healthy food habits, with a focus on alternatives to traditional cow's milk, such as goat milk and camel milk, particularly in the lactose-free segment. The market is also witnessing a shift towards online retail and convenience stores, making dairy products more accessible to consumers.

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Market Segmentation

The dairy food market includes several key segments:

• By Product:

  • Milk
  • Cheese
  • Yogurt
  • Butter
  • Others

• By Distribution Channel:

  • Supermarkets
  • Convenience stores
  • Online retail

• By Geography:

  • APAC (Asia-Pacific)
    • China
    • India
  • Europe
    • Germany
    • France
  • North America
    • US
  • South America
  • Middle East and Africa

Market Dynamics

Drivers:

• The rising adoption of healthy food habits is one of the major drivers of the market, especially as consumers seek dairy products that support bone health, such as those rich in calcium and bioactive peptides. The global prevalence of bone diseases, like osteoporosis, is also fueling demand for these products. Lactose-free dairy products, including alternative milks like goat milk and camel milk, are gaining traction due to the increasing awareness of lactose intolerance.

Trends:

• Online retail is becoming a dominant trend in the dairy food market, driven by the increasing use of the internet and smartphones, facilitating convenient purchasing. Consumers now prefer the affordability and variety offered by e-commerce platforms. The growing demand for lactose-free dairy options, including goat milk and camel milk, is further supported by this trend.

Challenges:

• The stringent regulatory compliance and standards in dairy production are a significant challenge for manufacturers, leading to increased production costs. Additionally, the labor shortage in the dairy industry impacts production and distribution efficiency, adding to the complexity of meeting consumer demand.

Regional Market Trends

The dairy food market is experiencing strong growth in several regions, driven by changing consumer preferences and increasing urbanization:

• APAC (Asia-Pacific):
  • China
  • India

The urbanization in countries like China, India, and other parts of APAC is propelling the demand for dairy products like milk, yogurt, and cheese. The growing focus on bone health and nutritious diets is contributing to the popularity of dairy foods in this region.

• Europe:

  • Germany
  • France

• North America:

  • US

In the US, the trend of purchasing dairy products online is gaining momentum, as consumers increasingly turn to e-commerce platforms for their dairy needs. The convenience and affordability offered by online retail are key factors driving this trend.

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Key Companies in the Dairy Food Market

Some of the key companies of the Dairy Food Market are as follows:

• Albertsons Companies Inc
• Agropur Dairy Cooperative
• Arla Foods amba
• China Mengniu Dairy Co. Ltd.
• Dairy Farmers of America Inc.
• Danone SA
• DMK Deutsches Milchkontor GmbH
• Fonterra Cooperative Group Ltd.
• Glanbia plc
• Gujarat Cooperative Milk Marketing Federation Ltd.
• Inner Mongolia Yili Industrial Group Co. Ltd.
• Kerry Group Plc
• Lucerne Foods
• Meiji Holdings Co. Ltd.
• Nestle SA
• Royal FrieslandCampina NV
• Saputo Inc.
• Schreiber Foods Inc.
• The Kraft Heinz Co.
• The Kroger Co.
• Unilever PLC