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Redding, California - October 15, 2024

Dairy Products Market to Reach $1,167.93 Billion by 2031

Dairy Products Market Size, Share, Forecast, & Trends Analysis by Type (Milk {Liquid, Powder}, Cheese, Dessert, Yogurt), Category (Lactose-Free), Animal Source (Cow, Buffalo), Nature (Organic), Distribution Channel (Supermarket) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Dairy Products Market Size, Share, Forecast, & Trends Analysis by Type (Milk {Liquid, Powder}, Cheese, Dessert, Yogurt), Category (Lactose-Free), Animal Source (Cow, Buffalo), Nature (Organic), Distribution Channel (Supermarket)- Global Forecast to 2031’. According to this latest publication from Meticulous Research^®, the dairy products market is projected to reach $1,167.93 billion by 2031, at a CAGR of 4.7% from 2024 to 2031.

Growing population and changing consumption habits, increasing per capita consumption of fresh dairy products, rising consumer awareness towards nutritional food, and increasing milk production contribute to the growth of the dairy products market. However, the increasing demand for dairy alternatives and growing vegan population are expected to hinder market growth to some extent.

Moreover, the growing technological advancements in the dairy industry and emerging economies are expected to provide market growth opportunities for the stakeholders operating in this market. Nevertheless, the substantial challenges faced by stakeholders in this market are the high prevalence of lactose intolerance & allergies to milk and the increasing consumer awareness regarding vegan diets.

Furthermore, increasing demand for organic milk and increasing awareness of health & wellness are a major trend in the dairy products market.

Key Players

The dairy products market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the dairy products market are Arla Foods Group (Denmark), Nestlé S.A. (Switzerland), Danone S.A. (France), Lactalis Group (France), Fonterra Co-operative Group Limited (New Zealand), The Kraft Heinz Company (U.S.), DMK Group (Germany), Gujarat Co-operative Milk Marketing Federation Limited (GCMMF) (India), Dairy Farmers of America, Inc. (U.S.), Meiji Holdings Co., Ltd. (Japan), Royal FrieslandCampina N.V. (Netherlands), Saputo Inc. (Canada), Inner Mongolia Yili Industrial Group Co., Ltd. (China), China Mengniu Dairy Company Limited (China), Emmi Schweiz AG (Switzerland), and Hatsun Agro Product Ltd (India).

The dairy products market is mainly segmented by type (milk {liquid and powder}, cheese, butter, dessert, yogurt, and other dairy products), category (lactose-based dairy products and lactose-free dairy products), animal source (cow, buffalo, goat, and others), nature (conventional and organic), distribution channel (supermarket, hypermarket, discounters, specialty store, online retail, and other distribution channels), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on type, the dairy products market is segmented into milk, cheese, butter, dessert, yogurt, and other dairy products. In 2024, the milk segment is expected to account for the largest share of 59% of the dairy products market. The large market share of this segment can be attributed to factors such as increasing population, rising milk production, consumer increasing awareness regarding the nutritional benefits, high consumption of milk in every household as a staple food item, easy availability, and increasing use in culinary purposes.

Based on category, the dairy products market is segmented into lactose-based dairy products and lactose-free dairy products. In 2024, the lactose-based dairy products segment is expected to account for the larger share of the dairy products market. The large market share of this segment can be attributed to several factors: the high consumption of lactose-based dairy products, their role as an energy provider, their potential prebiotic effect, which promotes the growth of beneficial gut bacteria, and their assistance in the absorption and utilization of essential nutrients present in dairy products, such as calcium and vitamins.

Based on animal source, the dairy products market is segmented into cows, buffalos, goats, and others. In 2024, the cows segment is expected to account for the largest share of 81.2% of the dairy products market. The large market share of this segment can be attributed to the easy availability of cow milk due to the high proportion of cow rearing and the high acceptability of cow milk among consumers due to several health benefits. In addition, cow milk is mostly preferred due to its high water proportion over other milk, which benefits easy digestibility due to the lower presence of proteins and fat, which further supports the growth of the market.

Based on nature, the dairy products market is segmented into conventional and organic. In 2024, the conventional segment is expected to account for the larger share of the dairy products market. The large market share of this segment can be attributed to the higher adoption of conventional dairy products due to their easy and cost-effective accessibility, growing need to fulfill the food demand of growing population, increasing demand for processed dairy food products, and easy availability of these food products.

Based on distribution channel, the dairy products market is segmented into supermarkets, hypermarkets, discounters, specialty stores, online retail, and other distribution channels. In 2024, the supermarkets segment is expected to account for the largest share of 35.1% of the dairy products market. The large market share of this segment can be attributed to several factors: the increasing preference for a one-stop shopping experience, clean and comfortable environments, extended opening hours, a much wider selection of household items, and increased shelf space for dairy products.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, New Zealand, Indonesia, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, Mexico, and Rest of Latin America), and the Middle East & Africa.

In 2024, Asia-Pacific is expected to account for the largest share of 40.5% of the dairy products market. The Asia-Pacific dairy products market is estimated to be worth USD 343.56 billion in 2024. The large market share of this region is mainly attributed to the huge milk production in the countries including India and China, a developed dairy industry, rising population, increasing consumer disposable income, high presence of local and multinational manufacturers, and increasing government initiative for animal husbandry & dairy industry.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5020

Key Questions Answered in the Report:

What is the value of revenue generated by the sale of dairy products?
At what rate is the global demand for dairy products projected to grow for the next 5-7 years?
What is the historical market size and growth rate for the dairy products market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which type, category, animal source, nature, and distribution channel segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the dairy products market?
Who are the major players in the dairy products market? What are their specific product offerings in this market?
What recent developments have taken place in the dairy products market? What impact have these strategic developments created on the market?

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Redding, California - October 15, 2024

Dairy Products Market to Reach $1,167.93 Billion by 2031

Dairy Products Market Size, Share, Forecast, & Trends Analysis by Type (Milk {Liquid, Powder}, Cheese, Dessert, Yogurt), Category (Lactose-Free), Animal Source (Cow, Buffalo), Nature (Organic), Distribution Channel (Supermarket) - Global Forecast to 2031

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