Global Dairy Products Market - 2023-2030
Market OverviewThe global dairy products market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is expected to exhibit a CAGR of 3.2% during the forecast period (2023-2030).
The dairy products market offers nutritional benefits to consumers and provides economic opportunities for businesses, making it a significant contributor to the global economy. The dairy products market is driven by consumer demand for convenient and healthy food options, as well as by the growing population and increasing disposable income.
Market DynamicsTechnological advancements in dairy products drive the market growth
Technological advancements have been a driving force in the dairy industry's growth and development, with advancements in dairy farming playing a crucial role. The adoption of technology has led to significant improvements in the efficiency and productivity of dairy farming operations. The adoption of technology in the dairy industry has also improved sustainability and reduced environmental impacts.
Increasing demand for premium and organic dairy products drives the market growth
Consumers are becoming more health-conscious and are seeking dairy products that are free from harmful chemicals and additives. Organic dairy products are perceived to be healthier and safer for consumption, leading to increased demand for dairy products. The increasing availability of premium and organic dairy products in retail stores and online platforms has also contributed to their growing demand. Consumers have access to a wider range of dairy products, including those that are locally sourced and produced in small batches, driving the growth of this market.
COVID-19 Impact AnalysisThe global dairy products market has been impacted by the COVID-19 pandemic. With the closure of restaurants, cafes, and other food service establishments, there has been a decline in demand for dairy products in the food service sector. However, there has been an increase in demand for dairy products in the retail sector as consumers have stockpiled essential items during the pandemic. This has resulted in a shift in the sales channel for dairy products, with increased sales through online platforms and grocery stores.
Ukraine-Russia War Impact Analysis
The Ukraine-Russia war has led to the loss of farmland, livestock, and processing facilities, resulting in a decline in milk production in the country. This has created price volatility in the global dairy market, with prices of some dairy products increasing due to the disruption of supply from Ukraine. The war has also created uncertainty for dairy importers, leading to a shift in trade patterns and increased competition among dairy-exporting countries. The dairy industry must remain vigilant and adaptable to changing market conditions as the conflict continues to impact the global dairy products market.
Artificial Intelligence Impact Analysis
Artificial intelligence technologies are used to analyze data from cheese production lines and detect defects, such as holes or cracks, that may affect the quality of the cheese. This can help manufacturers quickly identify and address production issues to ensure consistent product quality. AI can also be used to develop new cheese formulations and optimize cheese aging processes. By analyzing data on cheese flavor, texture, and aroma, AI can help manufacturers create new and innovative cheese products that meet consumer preferences.
Segment AnalysisThe global dairy products market is segmented based on type, distribution channel, and region.
Increased new developments and product availability is expected to drive the milk segment growth in the dairy products market
The milk segment has a well-established infrastructure for processing, packaging, and distribution, which ensures that milk products are widely available in supermarkets, convenience stores, and online platforms. This infrastructure also enables milk producers to quickly adapt to changing consumer preferences and develop new products to meet evolving market trends. Milk production can be scaled up or down to meet consumer demand without significant supply chain disruptions. For instance, according to estimates from Foreign Agricultural Services (FAS) New Delhi, India's fluid milk production will rise by almost 2% to 207 million metric tons (mmt) by 2023, assuming a typical southwest monsoon season (June–September). Indians who depend on raising livestock number 500 million.
Geographical AnalysisIncreased consumption of dairy products in the Asia Pacific
The Asia-Pacific region has dominated the global dairy products market due to its large population, rising disposable incomes, and increasing demand for dairy products. The region has witnessed significant growth in the consumption of milk and other dairy products due to changing dietary patterns and the adoption of Western lifestyles. According to the Secretary, Government of India, Department of Animal Husbandry & Dairy, one of the industries in India that is expanding the fastest is the dairy sector, which has set a goal to double its processing capacity from 53.5 MMT to 108 MMT by 2025. In addition, the government wants to boost value-added products from 23% to 40% and India's export share to the world from 0.36% to 10% by 2025, according to its roadmap for the dairy industry.
Competitive LandscapeThe major global players include Danone S.A., Nestlé S.A., Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Lactalis International, Dairy Farmers of America Inc., Arla Foods amba, Saputo Inc., Yili Group, and Amul.
Why Purchase the Report?• To visualize the global dairy products market segmentation based on type, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of dairy products market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global dairy products market report would provide approximately 53 tables, 49 figures, and 102 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies