Global Dairy Market Report and Forecast 2023-2028

Global Dairy Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global dairy market reached a value of USD 523.3 billion in 2022. Aided by the robust demand for nutrient-rich food items and the multifaceted applications of dairy in an array of industries, the market is projected to further grow at a CAGR of 3.60% between 2023 and 2028 to reach a value of USD 647 billion by 2028.

Dairy, derived primarily from the milk of mammals, mainly cows, encompasses a diverse range of products such as cheese, yoghurt, butter, and milk. These products are not only staples in diets across the globe but also serve as crucial ingredients in countless cuisines. With benefits ranging from strengthening bones to improving heart health and aiding digestion, the nutritional profile of dairy products is unmatched. Their versatility extends beyond mere consumption, finding applications in sectors as varied as cosmetics, pharmaceuticals, and confectioneries.

A dominant factor steering the global dairy market growth is the heightened consumer preference for nutrient-dense diets. Given the rising health consciousness and increased awareness regarding the advantages of calcium, protein, and vitamins – abundantly found in dairy products – there has been a marked shift towards dairy-inclusive diets. This is evident in the escalating demand for products such as yoghurts enriched with probiotics and fortified milk with added vitamins and minerals.

Further propelling the dairy market demand is the expanding culinary world. As globalisation narrows cultural divides, there's a burgeoning interest in world cuisines, many of which feature dairy as a fundamental ingredient. From the rich cheeses of Europe to the clarified butter or 'ghee' prevalent in Indian cuisine, dairy products are integral to many iconic dishes.

In addition to gastronomy, the dairy industry intersects with other sectors. The cosmetic industry, for instance, capitalises on the moisturising properties of milk and its derivatives, incorporating them into creams, lotions, and serums. The pharmaceutical sector, too, exploits the nutritional benefits of dairy, utilising lactose as an excipient in tablet manufacture.

As the landscape of global consumption continues to change, the dairy market outlook seamlessly integrates age-old traditions with contemporary demands, reinforcing its importance in our daily lives and its indomitable position in the global market.

Market Segmentation

The market can be divided based on product and region.

Market Breakup by Product
  • Fluid/UHT/Flavoured Milk
  • Cream
  • Butter
  • Ghee
  • Anhydrous Milk Fat (AMF)
  • Skimmed Milk Powder/Non-Fat Dry Milk
  • Whole Milk Powder
  • Whey Protein (Powder and Concentrate)
  • Indian Cheese (Paneer)
  • Lactose
  • Casein
  • Cheese
  • Yoghurt
  • Ice-Cream
  • Probiotic Dairy Products
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global dairy market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Danone S.A.
  • Royal FrieslandCampina N.V.
  • Arla Foods amba
  • Nestlé S.A.
  • Fonterra Co-operative Group Limited
  • Dairy Farmers of America, Inc.
  • Lactalis Group
  • Saputo Inc.
  • China Mengniu Dairy Company Limited
  • Meiji Holdings Company, Ltd
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Dairy Market Analysis
8.1 Key Industry Highlights
8.2 Global Dairy Historical Market (2018-2022)
8.3 Global Dairy Market Forecast (2023-2028)
8.4 Global Dairy Market by Product
8.4.1 Fluid/UHT/Flavoured Milk
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Cream
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Butter
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Ghee
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Anhydrous Milk Fat (AMF)
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.4.6 Skimmed Milk Powder/Non-Fat Dry Milk
8.4.6.1 Historical Trend (2018-2022)
8.4.6.2 Forecast Trend (2023-2028)
8.4.7 Whole Milk Powder
8.4.7.1 Historical Trend (2018-2022)
8.4.7.2 Forecast Trend (2023-2028)
8.4.8 Whey Protein (Powder and Concentrate)
8.4.8.1 Historical Trend (2018-2022)
8.4.8.2 Forecast Trend (2023-2028)
8.4.9 Indian Cheese (Paneer)
8.4.9.1 Historical Trend (2018-2022)
8.4.9.2 Forecast Trend (2023-2028)
8.4.10 Lactose
8.4.10.1 Historical Trend (2018-2022)
8.4.10.2 Forecast Trend (2023-2028)
8.4.11 Casein
8.4.11.1 Historical Trend (2018-2022)
8.4.11.2 Forecast Trend (2023-2028)
8.4.12 Cheese
8.4.12.1 Historical Trend (2018-2022)
8.4.12.2 Forecast Trend (2023-2028)
8.4.13 Yoghurt
8.4.13.1 Historical Trend (2018-2022)
8.4.13.2 Forecast Trend (2023-2028)
8.4.14 Ice-Cream
8.4.14.1 Historical Trend (2018-2022)
8.4.14.2 Forecast Trend (2023-2028)
8.4.15 Probiotic Dairy Products
8.4.15.1 Historical Trend (2018-2022)
8.4.15.2 Forecast Trend (2023-2028)
8.5 Global Dairy Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
9 North America Dairy Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Dairy Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Dairy Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Dairy Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Dairy Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code: 04)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Danone S.A.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Royal FrieslandCampina N.V.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Arla Foods amba
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Nestlé S.A.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Fonterra Co-operative Group Limited
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Dairy Farmers of America, Inc.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Lactalis Group
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Saputo Inc.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 China Mengniu Dairy Company Limited
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Meiji Holdings Company, Ltd
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.3.11 Others
19 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Dairy Market: Key Industry Highlights, 2018 and 2028
2. Global Dairy Historical Market: Breakup by Product (USD Billion), 2018-2022
3. Global Dairy Market Forecast: Breakup by Product (USD Billion), 2023-2028
4. Global Dairy Historical Market: Breakup by Region (USD Billion), 2018-2022
5. Global Dairy Market Forecast: Breakup by Region (USD Billion), 2023-2028
6. North America Dairy Historical Market: Breakup by Country (USD Billion), 2018-2022
7. North America Dairy Market Forecast: Breakup by Country (USD Billion), 2023-2028
8. Europe Dairy Historical Market: Breakup by Country (USD Billion), 2018-2022
9. Europe Dairy Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Asia Pacific Dairy Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Asia Pacific Dairy Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Latin America Dairy Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Latin America Dairy Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Middle East and Africa Dairy Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Middle East and Africa Dairy Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Major Exporting Countries by Value
17. Major Importing Countries by Value
18. Major Exporting Countries by Volume
19. Major Importing Countries by Volume
20. Global Dairy Market Structure

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