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Dairy Food Market Statistics, Growth, Size, Trends And Forecast Report 2024 To 2033
Dairy Food Market
Dairy Food Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1110.15 billion In 2028 At A CAGR Of 6.4% :
The dairy food market size has grown strongly in recent years. It will grow from $810.37 billion in 2023 to $865.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to global population growth, a rise in disposable income, growing number of health-conscious consumers, and low interest rate environment.
The dairy food market size is expected to see strong growth in the next few years. It will grow to $1110.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to the covid-19 pandemic, rising population, rising penetration of organized retail, improvement in cold chains, increased dietary consciousness and increasing product launches. Major trends in the forecast period include internet of things (iot) technology, increasing dairy food companies' collaboration with e-commerce companies, increasing demand for clean label products, robotics and automation in dairy industry, partnerships and acquisition for brand expansions.
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Dairy Food Market Major Segments
The dairy food market covered in this report is segmented -
1) By Type: Milk And Butter, Cheese, Dry, Condensed, And Evaporated Dairy Products, Ice Cream And Frozen Dessert
2) By Source: Cattle, Sheep, Goat, Camel
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others
Sub segments: Milk, Butter, Natural Cheese, Processed Cheese, Dry Dairy Product, Condensed Dairy Product, Evaporated Dairy Product, Ice Cream: Frozen Dessert
Key Driver - Growing Appetite For Organic Dairy Products In The Dairy Food Industry
The increasing demand for local, sustainable, and organic food production is expected to positively impact the dairy food market during the forecast period. Organic food production, including organic dairy products, places 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. Across Europe, there is a very high import rate (especially for fruits and vegetables), as the rate of production is far lower than the consumer demand for organic produce. For instance, in June 2022, the Organic Trade Association, a US-based trade association representing over 9,500 organic businesses, between the years 2020 and 2021, organic sales increased by 2% surpassing $63 billion as compared to previous years. This growing demand for organic products offers considerable opportunities for dairy product producers in both developed and developing countries, which is likely to drive the market during the forecast period.
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Prominent Trend - IOT Revolutionizing Dairy Product Tracking And Safety
The Internet of Things (IoT) technology is increasingly being used to track dairy products and ensure safe product handling. IoT technology consists of a network of devices, vehicles, or other items that continuously exchange data and provide insights into a process or system. This technology is being used to track ingredients being used in products. Equipment connected to the internet in trucks and storage coolers can be used to monitor dairy products and tag them with environmental conditions like temperature or location that provide information about safe product handling during transportation. For instance, the Chinese government implemented the National Food Quality Safety Traceability Platform, using IoT technology to improve the quality and safety of food production supply chains.
Dairy Food Market Players
Major companies operating in the dairy food market report are Groupe Lactalis S.A., Danone S.A., Fonterra Co-operative Group Limited, Inner Mongolia Yili Industrial Group Co., Ltd., Nestle S.A., Saputo Inc, Arla Foods amba, Dairy Farmers of America, The Kraft Heinz Company, Amul, Pacific Dairy, China Mengniu Dairy Company Limited, Milk Powder Co.Ltd, China Shengmu Organic Milk Limited, Mother Dairy, Kwality Limited, Dynamix Dairy, AAVIN, MILMA, Dudhsagar Dairy, Bates Dairy, Müller UK & Ireland, Dairy Crest, Meadow Foods, Dale Farm, Yeo Valley, Glanbia Cheese, Lactalis International, Kompaniya Pavlov, Olam, Rusmolco, CLAL, Siemens Dairy industry, Gabrovo Milk Ltd., JOSSI Ltd., Kondov Ecoproductia, Sofia, Agropur Cooperative, Schreiber Foods, Kraft Heinz Co., ConAgra Brands, Prairie Farms Dairy Inc., California Dairies Inc., Italac, Piracanjuba, La Serenísima, Colun, Ilolay, Sunopta In, The Hain Celestial Group Inc, Earth's Own Food Company, Eden Foods, Inc, Nada Dairy, Nadec, Saudia Dairy and Foodstuff Company, Ornua, Danya Foods Ltd, Al Amoudi Group, Almarai, Freisland, Pinar Dairy Food Co, Tara Dairy, Bandini Cheese (Pty) Ltd., Clover SA (Pty) Ltd., Coega Dairy (Pty) Ltd., Douglasdale Dairy (Pty) Ltd., Dewfresh (Pty) Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the dairy food market in 2023. Western Europe was the second-largest region in the dairy food market. The regions covered in the dairy food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Dairy Food Market Report Structure
3. Dairy Food Market Trends And Strategies
4. Dairy Food Market - Macro Economic Scenario
5. Dairy Food Market Size And Growth
…..
27. Dairy Food Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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