Dairy Beverages Market, Production and Consumption Analysis, Brands Statistics and Overview by Top Manufacturers 2027
The global dairy beverages market is set to reach a value of USD 91 billion by 2024. With the need for beverages to serve as meal replacement meals for post-gym session, the market is expected to capitalize on this trend. Introduction of new flavors as well as preference of yogurt and whey drinks are likely to drive the market demand exponentially. High demand for ready-to-drink (RTD) beverages and launch of new concoctions can bode well for the market.
Availability of beverages in a plethora of flavors, packages, and sizes can create differentiation among products and reduce cannibalization within the market. Rising awareness levels of consumers from social media and addition of additives to the regular mix for enhancing health benefits of these drinks can drive the global dairy beverages market growth. Investments in manufacturing facilities for expanding to more regions is one of the foremost strategies of top players in the dairy beverages industry.
But increasing cases of lactose intolerance and dairy alternative drinks can pose a challenge to the market.
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ITC Limited, Lactalis Group, Arla Foods amba, Britannia Industries Limited, Parag Milk Foods Ltd, Gujarat Cooperative Milk Marketing Federation Ltd., Nestlé SA, Organic Valley, The Whitewave Foods Company, Borden, Inc., Mother Dairy Fruit & Vegetable Pvt Ltd, Grupo Leche Pascual SA, The Kefir Company, Freedom Foods Group Limited, and Dean Foods Company are prominent players working in the global dairy beverages market.
The global dairy beverages market has been segmented by type, packaging type, and distribution channel.
Based on type, it is categorized into kefir, buttermilk, milk, and others. Milk is further divided into plain and flavored milk. Among them, milk is expected to hold a majority of the market due to benefits of milk and other supplementary ingredients. On the other hand, the kefir segment can register a remarkable growth rate due to inclination towards consumption of probiotics.
Based on packaging type, it is segmented into cans, bottles, cartons, and others.
By distribution channel, the global market has been categorized into store-based and non-store-based. The store-based segment is expected to be the dominant channel for dispersing the products to customers. This can be attributed to consumer tendency to shop at neighborhood stores. However, the non-store based segment can register a phenomenal growth rate owing to brands partnering with ecommerce stores to sell their goods.
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The global dairy beverages market reports regions of prime importance, namely Europe, Asia Pacific (APAC), North America, and the Rest-of-the-World (RoW).
North America is projected to dominate the global market by being the lead contributor owing to presence of various brands having a large presence in the region. High nutritive value of dairy and RTD beverages by consumers as well as efforts by manufacturers to take the green initiative by offering products in recyclable containers can bode well for the market till 2024.
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