8 March 2019: Dairy Product Market is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Dairy product, or “Milk Product” or “Lacticinia” is an essential part of our daily diet. It has been witnessing a significant demand and is anticipated to grow over the forthcoming period. There are several advantages of dairy product such as low-fat, cholesterol-free, and lactose-free content.
The factors that propel the growth of the Dairy Product Market include absence of stringent governing frameworks, influx of funds from public and private segments, flourishing animal and agriculture farming industry in several regions, and growing concerns toward health. On the other hand, there are factors that may hamper the growth of the market including reduced milk trade among nations.
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The market may be explored by type, application, distribution channel and geography. The market may be explored by type as lactose free milk, yoghurt, cheese, buttermilk, butter, cream and frozen, ice cream and others. The key applications that could be explored in the Dairy Product Market include Frozen food, Bakery & Confectionery, and Clinical Nutrition. The market could be explored based on Distribution channel as Hypermarkets/Supermarkets, Convenience stores, department stores, and discounters. The “Hypermarkets/Supermarkets” segment led the Dairy Product Market in 2016 and is anticipated to maintain its dominance by 2021.
Asia-Pacific accounted for the major share of the Dairy Product Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include the presence of animal husbandry as one of the significant industries, easy availability of raw materials, and expansion of the customer base. North America is likely to record moderate to sluggish growth during the upcoming period.
Some of the key players that fuel the growth of the Dairy Product Market comprise Nestle SA, Amul, Dairy Farmers of America Inc., Arla Foods UK Plc., Fonterra Group Cooperative Limited, Danone, Parmalat S.P.A, Kraft Foods, Inc., Megmilk Snow Brand Co. Ltd., Dean Foods Company, Meiji Dairies Corp., Unilever N, Groupe Lactalis SA, Sancor Cooperatives Unidas Limited, Royal FrieslandCampina N.V., and Parmalat S.P.A. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Dairy Product Market by Geographical Regions:-
- North America
- Asia Pacific
- Middle East and Africa
- South America
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