Global Dairy Whitener Market Assessment and Revenue Gains of Key Players Forecasted during 2017-2022
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Increase in the consumption of coffee and tea around the globe is the primary aspect driving the growth of the global dairy whitener market. The growing infant formula industry proposes good opportunity for this market in the coming years as dairy whiteners find extensive application in the manufacturing of infant formula and hence the rise in the infant formula is likely to spin the yarn of growth for the dairy whitener market by raising its demand during the period of forecast. Moreover, in association with this point, the rising number of baby births is also indirectly contributing to the growth of the global dairy whitener market. Also, dairy whiteners offer advantages such as portability, convenience and a longer shelf life which has fuelled the adoption of dairy whiteners thereby contributing to its market’s growth. It is also easier to store as compared to milk. However, the factor restraining the growth of the dairy whitener market is the less preference of some customers owing to health awareness, due to which they tend to avoid dairy whiteners. The Europe region is fairly growing yet possesses huge market attractiveness amongst other regions.
Dairy whiteners are also referred to as milk powder, and are largely used as a substitute for milk, especially for tea and coffee. Dairy whiteners are also used in some other food products such as soups, puddings, hot chocolate, as well as certain sauces. Dairy whiteners are those products which have a higher fat content than the Skim Milk Powder (SMP) and lower fat content as compared to WMP (Whole Milk Powder). Dairy whiteners are also called as coffee whiteners or non-dairy creamers. They are sometimes used to create fake snow in movies and certain fireball effects as they are liable to dust explosion when suspended in air.
According to Fact.MR’s research report on the global dairy whitener market, the market is anticipated to reach a value more than US$ 12,000 Mn by 2022 reflecting a moderate CAGR during the forecasted period of 2017-2022.
Europe Region to Possess the Highest Market Attractiveness; APEJ to Come Close
The global dairy whitener market finds Europe region to be the most lucrative among other regions. This region possesses higher market attractiveness owing to higher consumption of the dairy whiteners thereby providing huge scope for the growth of the dairy whitener market during the period of forecast. Europe is growing at a steady pace pertaining to this market. North America region is also showing higher fluctuations, more on the growth side, in terms of consumption of dairy whiteners. Asia-Pacific excluding Japan (APEJ) region is growing at the highest pace to reflect a CAGR of 3.9% over the forecast period and is expected to show a market value share nearly equal or slightly less than that of Europe by then end of 2022. This infers that APEJ region is coming nearer in terms of domination in the global dairy whitener market following Europe, and could be at the top if the trend continues. However, it is wise to think about investing in both these regions.
Modern Grocery Retail to Show Higher Market Share
The modern grocery retail by sales channel type is anticipated to show higher market share by revenue by the end of 2022 as compared to other segments of traditional grocery retail and non-grocery retail. Others segment shows a higher value in both growth rate and market share, but it also has different revenue funnels which cannot be easily classified. Hence, it would be advisable to consider modern grocery retail segment for growth in revenue. It is poised to grow at a significant CAGR of 3.1% during the period of forecast of 2017 to 2022 and expects a gain in BPS by 2022 end.
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Jigger Pots and Stick Packaging to Cement Higher Growth Rate
By packaging type, the global dairy whitener market is segmented into carton pack, sachet, plastic jar and jigger pots & stick packaging segments. Of these, jigger pots and stick packaging segment is anticipated to show a significant growth rate to register a CAGR of 4.3% during the period of forecast and also expected to gain high BPS by the end of 2022. However, it does not experience a higher market share but is likely to develop few years down the line. The sachet segment possess a higher market share in 2017 and is expected to grow at a steady pace during the period of forecast.
Unflavored Dairy Creamer Segment is the Largest Segment by Product Type
By product type, the unflavored dairy creamer segment possess the largest market share and is poised to retail this state with a steady CAGR. The flavored dairy creamer also grows at the same pace as unflavored dairy creamer segment yet has a low market share. The unflavored dairy creamer segment enjoys a higher market share of almost 64% during the forecast period of 2017 to 2022, with a gain in the BPS by the end of 2022.
The report also profiles companies that are expected to remain active in the expansion of the global dairy whitener market through 2022, which include Fonterra Co-operative Group Limited, Nestlé SA, Danone, Inner Mongolia Yili Industrial Group Co., Ltd., Morinaga Milk Industry Co., Ltd., Britannia Industries Limited, Gujarat Cooperative Milk Marketing Federation Ltd., HATSUN AGRO PRODUCT LTD., Arla Foods amba and Schreiber Foods Inc.
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