According to FMI analysts, Dairy Products Market may reach a net worth of over USD 845.50 billion in 2033, up from USD 529.05 billion in 2023. This market is forecast to register a CAGR of 4.8% over the next ten years.

Growing consumer demand for healthy on-the-go snack options drives sales of dairy products worldwide. Dairy-based products contain calcium naturally, making them a healthy snack option.

Due to their health benefits, probiotic drinks have gained popularity, especially due to their ability to improve digestion and immunity. Health and wellness trends have led consumers to choose dairy snacks that are low-fat, lactose-free, and calcium-rich.

Due to an increase in income and increased urbanization over the past several decades, individuals have become more interested in consuming proteins (such as dairy) than grains as a result of increased income and urbanization.

Dairy products are becoming increasingly popular around the world. To get enough protein daily, consumers are switching from regular meat to dairy products. Additionally, the bakery and confectionery market is expected to grow during the forecast period, since milk is the primary ingredient in most bakery products. This is expected to fuel the dairy product market during the forecast period.

The growing global population is a key opportunity for the dairy product market. This rapid population growth is expected to create new markets for dairy products. The market for infant formula in African countries, as well as in the Indian subcontinent, is expected to grow as a result of rising infant malnutrition. In turn, these factors are expected to increase the dairy product market during the same period.

Key Takeaways from Market Study

• The dairy products market is expected to record a CAGR of 4.8% over the forecast period.
• According to estimates, the dairy products market in the Asia Pacific might remain strong throughout the length of the forecast period.
• The butter segment was valued at US$ 23.25 billion in 2023 and is expected to register a CAGR of 3.5% during the forecast period.
• The cheese segment was valued at US$ 96.86 billion in 2023 and is expected to record a CAGR of 3.8% from 2023 to 2033.
• It is expected that the market in India is anticipated to demonstrate a high level of growth by the year 2033.
• The milk segment is expected to record a CAGR of 3.1% between 2023 and 2023, reaching US$ 310.07 billion in 2023.

Get in Touch for Expert Analysis Connect with Our Specialist on Email: sales@futuremarketinsights.com

Competitive Landscape

The market is moderately fragmented with several local companies in operation. To capture a larger market share, players employ various strategies such as investments, partnerships, acquisitions, and mergers. Additionally, companies are concentrating on enhancing their products and maintaining competitive pricing.

Recent Developments:

• In March 2022, Danone's Activia Brand introduces Activia+ in the United States and other North American markets. The drinkable yogurt product comes in strawberry, peach, and raspberry flavors.
• Danone North America launched its new yogurt product under the Light+Fit brand in February 2022. There are two different flavors available, lemon and orange.
• In February 2022, New Berlin, New York-based Chobani LLC introduced two all-new dairy products, expanding its refrigerated shelf presence: ultra-filtered milk, lactose-free, protein-packed ultra-filtered milk, and half & half. Like many of the company's other new products, these items come in paper-based packaging that is widely recyclable. They are made from locally sourced milk.
• In March 2019, The Wallaby yogurt brand was introduced in the United States in three flavors to satisfy health-conscious consumers. It is yogurt with no sugar added.
• In August 2019, Arla Foods announced a partnership with Walki to provide sustainable and recyclable packaging solutions, thus contributing to its mission to reduce carbon footprints.

Key Players Supplying Dairy Products Include

• Arla Foods Amba
• Nestle
• Danone
• Fonterra
• Lactalis
• Frieslandcampina
• DMK Group
• GCMMF
• Dairy Farmers of America, Inc.
• Meiji Holdings Co. Ltd.
• The Kraft Heinz Company

Dairy Products Market Segmentation by Category

By Product Type:

• Milk
• Cheese
• Yogurt
• Dessert
• Butter
• Milk Powder
• Cream
• Others

By Distribution Channel:

• Hypermarket / Supermarket
• Convenience Store
• Speciality Store
• Other

By Region:

• North America
• Latin America
• Europe
• The Middle East and Africa
• East Asia