Press release
Dairy Foods Market Size Worth $1,346.32 Billion By 2030 | CAGR: 6.5%
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Factors such as the rising consumer disposable income, growing health consciousness, increased milk production in developing countries, as well as increased consumption of protein-enriched foods are expected to contribute to the demand for the products over the forecast period.
The growth of the industry is attributed to the consumers shifting preference from meat to milk-based products for micronutrients and proteins, along with the development of the new innovative product offerings by the manufacturers present across the globe.
The essential nutritional benefits offered by the milk products along with the increased spending of consumers on lactose-free products is boosting the industry demand. In addition, the rising trend of consuming lactose-free products among the young population is further contributing to the global demand.
Asia Pacific is expected to hold the largest share over the forecast period. Rapid growth in population, growing disposable income, and increased awareness of health are the factors anticipated to augment the growth of the industry over the forecast period.
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Additionally, because of increased government schemes and initiatives aimed at increasing milk production and enhancing cattle productivity, the dairy products industry is likely to expand in the near future. For instance, The Indian government's National Dairy Program focuses on the development of cow and milk production.
Major players such as Arla Foods amba, Dairy Farmers of America, Inc, Danone S.A, DMK Group, Fonterra Co-operative Group, GCMMF, Meiji Holdings Co., Ltd., Nestle, Royal FrieslandCampina, and The Kraft Heinz Company are some key players operating in the global market.
In 2021, Arla Foods company announced to expand the Troldhede cheese production facility in order to meet increasing cheese demand from Japan. The development created new opportunities in the production of long-lasting cheese.
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Polaris Market Research has segmented the dairy foods market report based on source, product, distribution channel, and region:
Dairy Foods, Source Outlook (Revenue - USD Billion, 2018 - 2030)
• Cattle
• Sheep
• Goat
• Camel
Dairy Foods, Product Outlook (Revenue - USD Billion, 2018 - 2030)
• Milk
• Cheese
• Yogurt
• Butter
• Dessert
• Others
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