Dairy Market Size, Share, Trends & Forecast | 2034

Dairy Market Outlook

According to the report by Expert Market Research (EMR), the global dairy market size reached a value of USD 561.66 Billion in 2024. Aided by the increasing demand for dairy-based products, rising awareness of the health benefits of dairy consumption, and the growing preference for dairy alternatives, the market is projected to grow at a compound annual growth rate (CAGR) of 3.60% between 2025 and 2034, reaching a value of USD 799.97 Billion by 2034.

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Dairy products, including milk, cheese, yogurt, butter, and ice cream, are staples in the global food industry. Not only do they serve as a significant source of nutrition, particularly calcium and protein, but they also cater to a diverse range of consumer preferences, from traditional dairy products to plant-based alternatives. The dairy market is influenced by numerous factors, including consumer trends, technological advancements, and the increasing demand for both traditional and innovative dairy products across various regions.

Key Drivers of Market Growth

Rising Health Consciousness and Nutritional Benefits of Dairy: One of the primary factors driving growth in the dairy market is the increasing awareness of the nutritional benefits that dairy products offer. Dairy products are an excellent source of essential nutrients such as calcium, protein, vitamin D, and potassium, making them vital for bone health, muscle growth, and overall well-being. As health-conscious consumers continue to prioritize balanced diets, dairy consumption remains an essential part of many people's nutrition plans.

Dairy products like yogurt and milk are also recognized for their probiotic properties, promoting gut health and aiding digestion. As more consumers turn to natural and wholesome foods, the demand for dairy products, particularly yogurt and fermented dairy, is increasing.

Technological Advancements in Dairy Processing: The dairy industry has been significantly impacted by technological advancements in processing, packaging, and distribution. Innovations such as ultra-high temperature (UHT) pasteurization, which extends the shelf life of milk and dairy products without the need for refrigeration, have revolutionized the dairy sector. Additionally, advancements in dairy fermentation technologies have expanded the variety of dairy-based products available, including functional yogurts, probiotic drinks, and flavored milk.

Furthermore, innovations in packaging have led to longer shelf-life products with reduced environmental impact. Packaging solutions that preserve the freshness of dairy products, such as vacuum-sealing and modified atmosphere packaging (MAP), are becoming more common in the market.

Growing Popularity of Plant-Based Dairy Alternatives: The rising demand for plant-based products has significantly influenced the dairy market. The increase in veganism, lactose intolerance, and the desire for sustainable food choices has led to a growing interest in dairy alternatives. Products like almond milk, soy milk, oat milk, and cashew-based cheeses are gaining traction as consumers look for alternatives to traditional dairy products.

The plant-based dairy alternatives segment is expected to see significant growth as more consumers choose plant-based diets. This shift is also being driven by innovations in plant-based technologies that are improving the taste, texture, and nutritional profile of dairy alternatives, making them more appealing to a broader audience.

Urbanization and Changing Lifestyles: Urbanization and changing lifestyles are other crucial factors propelling the growth of the dairy market. With an increasing number of people living in urban areas, consumers are becoming more reliant on convenient, ready-to-eat, and packaged food products, including dairy items. Dairy-based snacks, such as cheese sticks, flavored yogurt, and ice cream, are gaining popularity as convenient options for busy consumers.

Furthermore, as disposable incomes rise, particularly in emerging economies, there is an increased demand for premium dairy products. Products such as organic milk, artisanal cheeses, and high-quality butter are seeing increased consumption as the middle class expands and consumers seek higher-quality, indulgent products.

Expanding Dairy Production in Emerging Markets: Emerging markets, especially in Asia and Africa, are becoming key drivers of growth in the dairy market. Countries like China and India are experiencing a significant rise in dairy consumption, driven by increasing urbanization, changing dietary habits, and the growing middle class. These regions are also seeing greater domestic production of dairy products, which is helping to meet the rising demand and reduce reliance on imports.

In Africa, dairy consumption is expanding as well, with more people adopting dairy-based diets. Governments and organizations are investing in the dairy sector, boosting production and improving distribution channels, thereby further fueling the growth of the dairy market in these regions.

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Dairy Market Segmentation

The Dairy Market can be divided based on product, region

Breakup by Product

Fluid/UHT/Flavoured Milk
Cream
Butter
Ghee
Anhydrous Milk Fat (AMF)
Skimmed Milk Powder/Non-Fat Dry Milk
Whole Milk Powder
Whey Protein (Powder and Concentrate)
Indian Cheese (Paneer)
Lactose
Casein
Cheese
Yoghurt
Ice-Cream
Probiotic Dairy Products

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

 Some of the major players explored in the report by Expert Market Research are as follows:

Danone S.A.
Royal FrieslandCampina N.V.
Arla Foods amba
Nestlé S.A.
Fonterra Co-operative Group Limited
Dairy Farmers of America, Inc.
Lactalis Group
Saputo Inc.
China Mengniu Dairy Company Limited
Meiji Holdings Company, Ltd
Others

Challenges in the Market

Concerns Over Lactose Intolerance and Allergies: Lactose intolerance and dairy allergies remain significant challenges for the dairy industry. A sizable portion of the global population, particularly in Asia, Africa, and parts of Latin America, suffers from lactose intolerance, making it difficult for them to consume traditional dairy products. Although the availability of lactose-free milk and dairy alternatives has risen, some consumers still face challenges in finding suitable products that meet their dietary needs.

As a result, there is an increased focus on creating dairy alternatives that cater to these needs, including lactose-free dairy, plant-based options, and dairy products enriched with added enzymes to aid in digestion. However, overcoming consumer skepticism and ensuring the taste and texture of these products match traditional dairy remains a challenge.

Environmental Concerns and Sustainability: The environmental impact of dairy farming, particularly in relation to greenhouse gas emissions, water consumption, and land use, has become an important topic of discussion in the industry. Dairy production is resource-intensive, requiring large quantities of water and feed, and contributes to methane emissions, which are harmful to the environment.

In response to these concerns, the dairy industry is exploring more sustainable practices, such as improving the efficiency of dairy farming, adopting cleaner technologies, and reducing waste. Additionally, there is a growing demand for sustainable packaging solutions to address plastic pollution concerns in the market.

Price Fluctuations and Supply Chain Disruptions: The dairy market is susceptible to price fluctuations due to factors such as climate change, feed costs, and global trade dynamics. The volatility of raw milk prices, for instance, can have a significant impact on the prices of dairy products. Supply chain disruptions, such as those caused by the COVID-19 pandemic, can also affect dairy production and distribution, leading to shortages and price increases.

As dairy producers face these challenges, they are working to improve supply chain resilience and diversify sourcing options to mitigate risks. Additionally, governments in some countries are implementing policies to stabilize milk prices and support the dairy industry.

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