Press release
Dairy Desserts Market Worldwide Phenomenal Growth 2020 | Size, Value Share, Latest Trend, Global Analysis and Key Players by Forecast to 2024
Dairy Desserts Market
Dairy Desserts Market is expected to garner a revenue of USD 1.5 billion by 2024 with 2.9% CAGR during the forecast period of 2019–2024. Dairy desserts contain nutrition of milk and are a natural source of calcium, potassium, magnesium, vitamin A and other vitamins and minerals. Dairy desserts have gained popularity in numerous countries. Few popular types of dairy desserts include ice cream, yogurt, custard, puddings, sherbet, and others. The most popular among them is ice cream which is available in various flavors. Sherbet is another popular frozen dessert made with fruit juice with added milk or cream, egg white or gelatin. Moreover, dairy desserts are available in different packaging material such as glass, metal, plastic, paper and others which safeguards the shelf life of the product.
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Dairy desserts cater to impulse for indulgence such that even nutrition and weight conscious consumers find themselves craving for rich and fattening desserts. The growing dairy industry is influencing the growth of dairy desserts market globally. The rise in demand for ice cream among all age group is boosting the growth of dairy desserts market.
There is high consumption of desserts in North America and Europe which is a major factor driving the growth of dairy desserts market. Moreover, continuous innovations and new product launches by the key players and introducing new flavors is adding fuel to the growth of dairy desserts market. Additionally, high focus on marketing and advertisements is supporting the growth of the market by increasing consumer awareness. However, rising health concerns among the growing population may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 4.2% of dairy desserts market during the forecast period, 2017-2023.
Downstream analysis
Based on the type, dairy desserts is segmented into ice cream, yogurt, custard, puddings, sherbet, and others. The ice cream segment is projected to hold the major share among others. However, the yogurt segment is witnessed to grow at a moderate rate over the forecast period.
Based on the packaging material, dairy desserts market is segmented into glass, plastic, metal, paper, and others. Among all, the paper and plastic segments are anticipated to dominate the market and grow gradually over the forecast period.
On the basis of sales channel, dairy desserts market is segmented into on-trade and off-trade. Among them, off-trade is dominating the market. However, increasing consumption of dairy desserts in restaurants and bars is expected to grow the on-trade sales channel segment over a period of time.
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Competitive analysis
The major players in the Dairy desserts market
Parmalat S.p.A (Italy)
Nestle (Switzerland)
FrieslandCampina (The Netherlands)
General Mills (U.S.)
DANA Dairy (Switzerland)
GCMMF (AMUL) (India)
Danone (France)
Regional Analysis
The global dairy desserts market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the market. New Zealand and Australia are the major contributors of dairy desserts in Asia Pacific. Europe is the second largest market for dairy desserts. Increasing consumption of ice creams in Italy, the U.K, and Norway is driving the growth of dairy desserts in this region.
North America is anticipated to be growing at a moderate rate for dairy desserts market. The U.S. is the major contributor followed by Canada for dairy desserts market in North America. Innovations and technological advancement is boosting the growth of dairy desserts in rest of the world. Among them, Brazil is projected to be the major contributor to the dairy desserts market.
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