Press release
Dry, Condensed, And Evaporated Dairy Products Market Size, Share, Growth And Industry Forecast 2023-2032 | Major Players: Kerry Group PLC, Tate & Lyle PLC, Rhodes Food Group, Nestlé S.A, The J.M. Smucker Company
Dry, Condensed, And Evaporated Dairy Products Market Report
The Business Research Company's Dry, Condensed, And Evaporated Dairy Products Global Market Report 2023 identifies the increasing demand for local, sustainable, and organic food production as the major driver for the dry, condensed, and evaporated dairy products market's growth in the forecast period. Organic food products, including dry, condensed, and evaporated dairy products, place a strong emphasis on consumer health, environmental protection, and animal welfare. Consumers are now becoming more concerned with how food is raised and prepared and are willing to pay a little more for something they recognize as healthy.
The dry, condensed, and evaporated dairy products market size has grown strongly in recent years. It will grow from $113.09 billion in 2023 to $120.16 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to dairy farming, long shelf life, global dairy production, military and emergency supplies, global export and trade.
The dry, condensed, and evaporated dairy products market size is expected to see strong growth in the next few years. It will grow to $150.99 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to health-conscious consumer preferences, sustainability and ethical practices, clean label and natural ingredients, global market expansion, digital marketing and e-commerce. Major trends in the forecast period include lactose-free and dairy-free options, functional and fortified products, alternative milk powders, flavored and instant varieties, customized and specialty products.
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Major competitors in the dry, condensed, and evaporated dairy products market are Kerry Group PLC, Tate & Lyle PLC, Rhodes Food Group, Nestlé S.A, The J.M. Smucker Company.
A key trend in the dry, condensed, and evaporated dairy products market includes The internet of things (IoT) technology. Major companies operating in the dry, condensed, and evaporated dairy products market are focusing on product innovations such as Valio Prime skimmed milk powder (SMP) to meet the growing demand for high-quality infant milk formula (IMF) products. Valio Prime skimmed milk powder (SMP) is a new infant-grade SMP that is specifically designed for dry-blend infant milk formula (IMF) production.
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The dry, condensed, and evaporated dairy products market is segmented -
•By Type: Dry Dairy Product, Condensed Dairy Product, Evaporated Dairy Product
•By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
•By End Use: Food, Beverages, Intermediate Products, Condiments, Other End Users
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the dry, condensed, and evaporated dairy products market.
The Business Research Company's "Global Dry, Condensed, And Evaporated Dairy Products Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Dry, Condensed, And Evaporated Dairy Products Market Include:
1. Executive Summary
2. Dry, Condensed, And Evaporated Dairy Products Market Characteristics
3. Dry, Condensed, And Evaporated Dairy Products Product/Service Analysis -Product/Service Examples
4. Dry, Condensed, And Evaporated Dairy Products Market Trends And Strategies
5. Dry, Condensed, And Evaporated Dairy Products Market - Macro Economic Scenario
……
68. Global Dry, Condensed, And Evaporated Dairy Products Market Competitive Benchmarking
69. Global Dry, Condensed, And Evaporated Dairy Products Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Dry, Condensed, And Evaporated Dairy Products Market
71. Dry, Condensed, And Evaporated Dairy Products Market Future Outlook and Potential Analysis
72. Appendix
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