10th
December 2018 - Global
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.
‘Clean’ is the new supreme: Customers are looking for clean label
products that do not contain any additives, artificial chemicals or
preservatives. Numerous key players in the market for dairy foods have
previously made clean label products a way of life, and in 2018, this trend is
anticipated to be picked up widely by the other players as well. Clean labels
are amongst the most noticeable dairy food trends that are anticipated to surge
the trust among consumers and eradicate the brand risk for dairy food
corporations.
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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