Press release
Global Dairy Blends Market: Health Benefits a Major Driver for Growth
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As children form an important target audience for the global dairy blends market, companies should focus on developing nutritional food items for them. In addition, many companies are also taking the route of mergers and acquisitions to stay ahead of the curve. Recently, Orkla Food Ingredients (OFI), a Norway-based company acquired 100% shares of Laan Heiloo B.V., a sales and distribution company in the Netherlands. Orkla Food Ingredients holds a dominant position in the Netherlands soft-serve ice cream market and through recent acquisition, the company will have a strong footing in the gelato segment as well.
According to the TMR report, the global diary blends market is projected to be valued at around US$4.59 mn by the end of 2024 from its initial value of US$2.15 mn in 2015, and is anticipated to grow at an impressive CAGR of 9.0% during the forecast period of 2016 to 2024.
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High Nutritional Value Food in Europe to Gain Prominence
Geographically, the global dairy blends market is segment into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe is expected to lead the market during the forecast period due to greater consumer awareness about food with proper nutrition. Consumer preference for low-calorie and low-fat foods will drive the market in this region. Asia Pacific is another lucrative market for dairy blends due its large population base and the market is expected to grow exponentially over the forecast period.
In terms of application, the bakery segment is known to largely contribute to the market and is projected to further grow during the forecast period due to increasing popularity of confectionary items among consumers. The infant formula application segment is also pegged to gain traction as a large number of working mothers will opt for it.
Healthy Lifestyle to Boost Demand for Dairy Blends
The global demand for dairy blends is fast gaining prominence due to high prices of traditional dairy products and growing demand for convenience foods. As more and more consumers are getting health conscious, dairy blends are proving for the unmet nutritional needs. They are known to offer health benefits and protect from infectious diseases. The market is further driven by the rising consumption of convenience foods. Busy lifestyle is drawing people towards time-saving foods, hence the demand for dairy blends is augmenting. Moreover, dairy blends can be used with other ingredients like cocoa powder, sugar, butter, dextrin and vegetable fats, thereby supplementing the market growth.
On the contrary, lack of awareness in regards to the health benefits of dairy blends is the primary factor acting as a hindrance for the market growth. Not many consumers know that gastrointestinal problems, diabetes, and obesity can be resolved to an extent with consumption of dairy blends, thus abstaining the market from developing further.
This review is based on the findings of a TMR report titled ‘Dairy Blends Market (Form - Liquid, Spreadable, and Powder; Application - Infant Formula, Bakery, Beverage, Ice cream, Pharmaceutical Lactose, and Butter and Cheese Blends) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.’
Global Dairy blends Market, by Forms
Liquid
Spreadable
Powder
Global Dairy blends Market, by Application
Infant Formula
Bakery
Beverage
Ice cream
Pharmaceutical Lactose
Butter and Cheese Blends
Others
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