Fermented Milk Market by Product (Buttermilk, Kefir, Sour Cream), Nature (Flavored, Plain), Fat Content, Distribution Channel - Global Forecast 2024-2030

Fermented Milk Market by Product (Buttermilk, Kefir, Sour Cream), Nature (Flavored, Plain), Fat Content, Distribution Channel - Global Forecast 2024-2030

The Fermented Milk Market size was estimated at USD 190.02 billion in 2023 and expected to reach USD 202.09 billion in 2024, at a CAGR 6.50% to reach USD 295.49 billion by 2030.

Fermented milk, also known as cultured milk, is a dairy product produced through the fermentation process of milk by specific bacteria, primarily lactic acid bacteria. This process involves converting lactose, the sugar in milk, into lactic acid, which causes the milk to thicken and sour, giving it a distinctive taste and improved shelf life. The increasing popularity of protein-rich diets and the trend towards vegetarian and plant-based nutrition are expanding the market for fermented milk products. Even non-dairy alternatives such as coconut, almond, and soy milk are being fermented, broadening the consumer base. Growing consumer awareness regarding the health benefits associated with fermented milk is driving the market growth. Product quality and lactose intolerance issues with the usage of fermented milk hamper the market growth. Continuous expansion of new product lines with innovative flavors and convenient packaging, appealing to a wider audience, including younger consumers and busy professionals, is expected to create market growth opportunities.

Regional Insights

The fermented milk market in the Americas is expanding with an increasing shift towards healthier, probiotic-rich diets. South America has also seen growth in this market, driven by a growing awareness of digestive health benefits associated with these products. The APAC region shows diverse fermented milk consumption patterns, significantly influenced by local dietary customs. Countries, including Japan and South Korea, have a long-standing tradition of consuming fermented milk products such as yogurt and other indigenous varieties. Meanwhile, in countries including India and China, the market is continuously growing due to increasing health consciousness among the middle class and the influence of Western eating habits. The region's tropical climate also favors consuming cold, refreshing dairy products, augmenting the demand for fermented milk. Europe is a highly developing landscape for fermented milk products, with a high consumption of yogurt, kefir, and other fermented dairy. Scandinavia, in particular, has a robust consumption per capita of such products. The Middle East and Africa are witnessing growth in the traditional consumption of fermented dairy products, while Africa is experiencing gradual growth due to urbanization and changing dietary patterns.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Fermented Milk Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing consumer awareness regarding the health benefits associated with fermented milk
Expansion of cold chain supply infrastructures

Market Restraints

Fluctuating costs of raw materials used to manufacture fermented milk

Market Opportunities

Development of new flavors in fermented milk products
Innovations in packaging and processing of fermented milk products

Market Challenges

Issues associated with product quality due to contamination

Market Segmentation Analysis

Product: Growing usage of buttermilk in baking, as the acid reacts with baking soda to provide leavening
Distribution Channel: Rising availability of fermented milk across online channels as it provides access to customer reviews and broader product information

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Fermented Milk Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Fermented Milk Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Introduction of Daisy Brand Sour Cream Dips in the Market

Daisy expanded its product line with the launch of Daisy Sour Cream Dips. These new offerings are now available at major retailers and feature a unique combination of herbs and spices blended into the popular Daisy sour cream. Aimed to enhance both snacks and meals, the dips are available in two flavors, which are crafted using common kitchen ingredients. This launch could potentially appeal to consumers seeking convenient, yet flavorful options in their dietary choices.

Launch of Sid’s Farm Buttermilk in New Sustainable Packaging

Sid’s Farm introduced a buttermilk in a new, eco-friendly packaging format. Available in 200 ml recyclable cups priced at INR 20, this product aims to offer a refreshing and healthy beverage option for the summer season. Starting immediately, the Buttermilk can be ordered for next-day home delivery in Hyderabad via Sid’s Farm's direct channels, and it is also accessible in Bengaluru through various e-commerce platforms and selected retail outlets.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Fermented Milk Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Fermented Milk Market, highlighting leading vendors and their innovative profiles. These include Almarai Company, Arla Foods, China Mengniu Dairy Company Limited, Chobani, LLC, Danone S.A., Emmi Group, Fonterra Co-operative Group Limited, General Mills, Inc., Grupo Lala, Gujarat Cooperative Milk Marketing Federation Ltd., Heritage Foods Limited, Lactalis Group, Longley Farm, Morinaga Milk Industry Co., Ltd., MÜLLER, Nestlé S.A., Royal FrieslandCampina N.V., Saputo Inc., Schreiber Foods, SODIAAL, The Kraft Heinz Company, Unilever PLC, Yakult Honsha Co., Ltd., and Yili Group.

Market Segmentation & Coverage

This research report categorizes the Fermented Milk Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
Buttermilk
Kefir
Sour Cream
Yogurt
Nature
Flavored
Plain
Fat Content
Fat-free
Full-fat
Low-fat
Distribution Channel
Offline
Specialty Stores
Supermarkets/Hypermarkets
Online
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year