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Libya Dairy Products Market Competitive Analysis & Regional Assessment Report 2022-2032 With a CAGR of 4%
Libya Dairy Products Market
The Libya dairy products market is valued at US$ 588.9 Mn in 2022 and is expected to exhibit a CAGR of 4% and reach US$ 873.3 Mn by the end of 2032.
Due to a number of factors, including increased consumer demand for flavoured dairy products, expanding consumer preference for wholesome food products, rising health consciousness, and strong growth from the home sector, the market is predicted to experience positive growth in the future.
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Libyan dairy product producers have been forced to expand their capacity and launch new, cutting-edge goods as a result of the increasing pressure of globalisation, intensifying competition, and quick adoption of cutting-edge technologies. As a result, it is anticipated that during the forecast period of 2022-2032, the dairy industry in this country will grow at a 4% CAGR.
How is the Libyan Market for Dairy Products Progressing?
"Technological Advancements in Dairy Sector in the Country"
In the last few years, dairy farms have evolved significantly due to development in technology, allowing manufacturers to produce high-quality products for consumers.Dairy producers who have their farms utilize the latest technology to scrutinize animal health, production, and feed intake to maximize profitability. Precision dairy farming technology is rising and plays a vital role for large dairy product manufacturers to scrutinize each stage of operation, from animal feed to the packing of dairy products.
Similarly, manufacturers in Libya and key importers operating in the Libyan market are adopting modern technology to increase the efficiency of production and enhance their business operations.
The extraction of dairy flavors from dairy ingredients is a complex process. As a result, manufacturers are utilizing advanced extraction techniques to increase the speed of production, which will help improve their stance in the dairy market in Libya.
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Why is the Libya Dairy Products Market Not Able to Grow at its Full Potential?
"Rising Vegan Population in Libya"
The increasing vegan population in Libya is a major concern for market players, with vegan, organic, and lactose-free diets becoming more popular. Vegan products do not contain any animal components and are made of ingredients originating from sources such as fruits, vegetables, herbs, and other plant parts, and are free from dairy ingredients. Growing consumer awareness regarding the health benefits of inculcating vegan products into their diets is one of the factors that may hinder the demand for dairy products in Libya.
Several manufacturers in the food and beverage industry are trying to develop dairy-free products to attract more consumers, which might slow down the sales of dairy products. Moreover, the rising consumption of lactose-free products, and, in particular, lactose-free milk, will create major concerns in the dairy market. Hence, dietary changes, a shift in consumer behavior, and increasing preference for vegan and lactose-free food would hamper market growth to some extent.
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Key Players:
• AI Mazraa
• Al Naseem
• Arab Dairy
• B&C Food
• Buhajar Group
• Guney Sut
• HB Group
• Pant Mawr Farmhouse Cheeses
• Rawidary
• SADAFCO
• Süta? Süt Ürünleri A.?
• Tamah Food Industries Company
• The Kraft Heinz Company (Arla Foods)
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