Dairy Market to be Valued USD927.12 Billion by 2026

Changing consumer lifestyle, rapid growth in urbanization integrated with increasing consumption of dairy foods and changing diets are expected to drive the growth of the Global Dairy Market through 2026.

 

According to TechSci Research report, “Global Dairy Market By Product Type (Drinking Milk, Cheese, Yogurt, Butter & Others), By Distribution Channel (Departmental Stores, Independent Stores, Hypermarkets/ Supermarkets & Online), By Region, Competition, Forecast & Opportunities, 2026”, the global dairy market is forecast to grow at a rate of 4.78% to reach USD927.12 billion by 2026. Growth in the market can be attributed to changing consumer diets, rapid growth in urbanization, along with increasing consumption of dairy foods and growing interest in nutrition. Although dairy products are consumed by each age group, there can be seen an increased preference for dairy-based nutrition products among old age people to prevent sarcopenia (loss of muscle mass). At an older age, they may eat less than actual diets due to several reasons such as reduced appetite, medications, or dental issues. In that situations, eating ‘little and often can be an effective way to get enough essential nutrients, especially protein, calcium, and vitamin D for mobility and folate and vitamin B12 to support an active mind. The changing consumer lifestyle and demand patterns change the way food is being produced and consumed at all stages of the value chain. Another major trend in the dairy market is advancement in technology. The dairy industry has evolved greatly due to the application of various technologies in daily operations such as milking cows. Automated Milking Systems automatically complete the entire milking process, and they allow multiple cows to be milked at the same time. This saves the time of the farmer , who otherwise  have accustomed milking the cows one by one. Moreover, technologies like robotics, drones, micro-sensor technology, and satellite systems will likely become more commonplace for all dairy farms in the future.

The global dairy market is segmented based on product type, distribution channel, region, and company. In terms of product type, the market can be segregated into drinking milk, cheese, yogurt, butter, and others. Out of these, drinking milk registered the highest market share among all dairy products in 2020, followed by cheese, yogurt, butter, and others. Milk is considered a nearly complete food since it is a good source of protein, fat, and major minerals. People who consume dairy products on daily basis are healthier. For example, individuals that consume dairy products are more likely to have lower weight, lower blood pressure, and less risk of stroke, colon cancer, and osteoporosis. The global dairy market is driven by changing patterns of healthy snacking culture, consumer demand for healthy products, rising income in emerging markets and the increasing use of protein for satiety, training, and weight management. In a country like USA, per capita consumption of milk is higher than cheese followed by yogurt, butter and Others. Dairy plays a crucial role across globe from food industry to local cuisines and from pure sweets, ghee, butter to pure milk and curd it is used in all form.

In terms of distribution channels, departmental stores are dominating the global dairy market. It is also witnessed that countries like India, Brazil, Argentina, Saudi Arabia having the highest demand for independent stores, and the countries like Australia, US, France, Germany, Italy, Canada having the highest demand for departmental stores whereas online is the emerging trends in the global dairy market.


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In terms of regional analysis, the market is segmented into Asia Pacific, Europe, North America South America, Middle East. Out of which, APAC is dominating the global dairy market followed by North America in 2020 due to the highest per capita consumption. Asia-Pacific is the fastest-growing region among the global dairy market and the region is anticipated to maintain its growth rate over the next five years as well due to government initiatives, growing population, increasing consumer personal disposable income, growing foreign direct investment and technological advancements in dairy processing. During 2021-2026F, the Asia-Pacific Global dairy market is projected to grow at a CAGR of 5.11%.

Dairy Farmers of America Inc, Lactalis Group, Fonterra Cooperative Group Ltd, Danone S.A., Yili Group., Unilever PLC, Frieslandcampina, Arla Food, Saputo Inc., Nestlé S.A. are some of the major leading players in the global dairy market.

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“Companies are constantly investing in terms of innovation and brand development and are engaging in international activities to create value and enhance milk promotion. For instance, Lactalis Group assists milk producers with the production process, to meet hygiene and quality standards inherent to processing and marketing milk and dairy products.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Global Dairy Market By Product (Drinking milk, Cheese, Yogurt, Butter and Others), By Distribution Channel (Departmental Stores, Independent Stores, Hypermarkets/Supermarkets, Online), By Region, Competition, Forecast & Opportunities, 2026”, has evaluated the future growth potential of dairy in global market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the global dairy market.       

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  • Marco Brown
    published this page in Submit Content 2022-10-11 23:21:54 -0700

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