Global Dairy Drinks Market

Dairy Drinks Market Size, Share, Growth Analysis, By Type(Drinking yogurt, milk, kefir), By Category (Flavoured milk and unflavoured milk ), By Distribution channel(Super markets, convenience stores, specialty stores, online channel), By Region - Industry Forecast 2024-2031


Report ID: SQMIG30G2012 | Region: Global | Published Date: April, 2024
Pages: 198 |Tables: 89 |Figures: 76

Dairy Drinks Market Insights

Global Dairy Drinks Market size was valued at USD 73.77 billion in 2022 and is poised to grow from USD 77.53 billion in 2023 to USD 115.43 billion by 2031, growing at a CAGR of 5.10% during the forecast period (2024-2031).

Dairy drinks are the drinkable dairy products consumed by a large number of people across the globe due to its vital nutrients and proteins; and the products are the formulated functional beverages found with different flavours, microbial cultures or minerals to make the taste & nutritional properties better. New products are being made in a more innovative purpose with new flavours, and added nutrients like omega fatty acids, magnesium, antioxidants, phytosterols, and others by the manufacturers.

Due to the growing popularity for drinkable yogurts, for the excellent taste and contribution in digestive health management which has significantly boosted the sales of dairy drinks. One important thing for the preference of drinkable yogurt is that it is easily available in a variety and this is attributing to the growth in the market. But lactose biasness is a crucial factor affecting the growth of dairy drinks which may result in abdominal pain, diarrhoea, and bloating in a human body.

US Dairy Drinks Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 73.77 billion

Largest Segment

Flavoured milk

Fastest Growth

Flavoured milk

Growth Rate

5.10% CAGR

Global Dairy Drinks Market ($ Bn)
Country Share for North america Region (%)

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Dairy Drinks Market Segmental Analysis

Global Dairy Drinks Market is segmented based on the type, category and distribution. Based on type, the market is segmented into drinking yogurt, milk, and kefir. Based on category, the Dairy Drinks Markett is segmented into flavoured milk and unflavoured milk. Based on distribution channel, the Dairy Drinks Markett is segmented into super markets, convenience stores, specialty stores, online channels. Based on Region Dairy Drinks Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Dairy Drinks Market Analysis by Type

Based on type, the dairy drinks market is segmented into drinking yogurt, milk, and kefir. Among others, drinking yogurt is holding the largest market share of USD 50 billion in 2022. It is a dairy product made by fermenting milk with a yogurt culture, and it offers protein and calcium which may enhance healthy gut bacteria. Some yogurts consist of active bacteria which helps to keep the intestines healthy and lower gas, constipation, bloating, and others. Low-fat yogurt can also be an important source of protein on a weight-loss diet.

Kefir is also growing substantially in the market; it is a liquid yogurt for drinking. It contains probiotics and is easy to make at home by adding kefir grains to milk and leaving it to stand for 12 to 24 hours. It is good for your health.

Dairy Drinks Market Analysis by Category

Based on type, the dairy drinks market is segmented into flavoured milk and unflavoured milk. Flavoured milk market is leading the market growing at a CAGR of more than 5.25%. Flavoured milk is the sweetened dairy beverage consisting of milk as the superior ingredient, and other flavour, & sweetening ingredients.  These drinks are made for boosting the immunity of individuals. The urban-based population showed their interest in consuming flavoured drinks, as compared to carbonated drinks owing to the nutritional benefits related with flavoured milk.

Global Dairy Drinks Market By Category, 2022 (%)

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Dairy Drinks Market Regional Insights

North America is anticipated to hold the largest market share to the increasing consumption of functional beverages. The dependence on ready-made drinks beverages increased due to the rising number of working-population has turned the growth of the dairy drinks market in the region over the forecast period. The organic dairy product holds the second position in the food category in this region, which contributes to the regional growth of the dairy drinks market.

Asia Pacific (APAC) is expected to see significant growth because of the growing number of dairy products consumers. Several countries including China, India, Vietnam are the ones consuming dairy drinks in a huge number. The increase in digitization and the growing number of populations in this region are the major reasons for the growth of the product.

Awareness increased towards consuming healthy drinks to remain healthy, fit, and refreshed in Europe region is the key factor of the development of the product in the market; also launching of new variants with extra nutrients and flavours by the manufacturers in this region.

Global Dairy Drinks Market By Region, 2024-2031
  • Largest
  • Fastest

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Dairy Drinks Market Dynamics

Dairy Drinks Market Drivers

Strategic Marketing is Influencing Many Consumers towards Dairy Drinks

  • The attraction of consumers increased significantly due to the formulation of functional beverages with new and mouth-watering flavours by producers. Also, because of the several benefits for the immune system facilitated by dairy drinks and other functional drinks, its consumption is quickly increasing. Consumers' preferences towards nutritionally rich and readymade beverages has increased with the increasing awareness to keep the body safe from different diseases. Growing demand for drinkable yogurts is driving the sales performance of dairy drinks and these can be consumed on a regular way, daily, with no side effects which is propelling the market’s growth.

Dairy Drinks Market Restraints

Lactose Intolerance Among Various Consumers to Hinder Market Growth

  • According to the National Institutes of Health (NIH), lactose intolerance is a prime health issue for a greater part of the US population. This is likely to act as a restraint for the market in several other regions. The market gets affected by the increasing movement of consumers towards non-dairy and/or plant-based drinks.

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Dairy Drinks Market Competitive Landscape

Global dairy drinks market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Dairy Drinks Market Top Player's Company Profiles  

  • Nestle
  • Danone
  • Arla Foods
  • Fonterra
  • Lactalis Group
  • Yili Group
  • Mengniu Dairy
  • FrieslandCampina
  • Inner Mongolia Yili Industrial Group Co Ltd
  • Meiji Co Ltd
  • Royal FrieslandCampina N.V.
  • China Mengniu Dairy Company Limited
  • Dean Foods
  • Unilever
  • Grupo Lala
  • Bright Food Group Co., Ltd.
  • Morinaga Milk Industry Co., Ltd.
  • Parmalat S.p.A.
  • Yakult Honsha Co., Ltd.
  • Sodiaal

Dairy Drinks Market Recent Developments

  • In February 2022, Nestle launched the new ready-to-drink product based on soy combined with the Milo malt favour for providing a nutritious plant based alternative.

Dairy Drinks Key Market Trends

  • The unique taste and functional properties over other dairy-based beverages has increased with the increasing demand for drinkable yogurt in the last few years. These quality drinks provide a rich amount of nutrients including vitamin A, vitamin D, calcium, potassium, magnesium which gives positive nutrition and help reduce nutritional deficiency. Moreover, the product launches by the leading players in a consistent way such as aloe vera infused yogurt drinks and ragi infused yogurt drinks in the market have further boosted the dairy beverages market.

Dairy Drinks Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global dairy drinks market analysis, Asia-Pacific is growing rapidly in the market because of the rising health issues, increase in disposable income level, and rising population are the important problems driving the market. Probiotics, functional dairy and natural colours with the rapidly changing lifestyle and increasing health awareness are among the top factors driving industry growth in the region.

The latest developments of formulated functional products with new flavours including fortification of drinks with omega 3, collagen, aloe vera, plant sterols, and soy isoflavones are also driving the market growth over the forecast period. However, the increasing requirement for non-dairy based drinks and carbonated drinks because of lactose intolerance and other allergies hampering the global market for dairy-based beverages.

Report Metric Details
Market size value in 2022 USD 73.77 billion
Market size value in 2031 USD 115.43 billion
Growth Rate 5.10%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Drinking yogurt, milk, kefir
  • Category 
    • Flavoured milk and unflavoured milk
  • Distribution channel
    • Super markets, convenience stores, specialty stores, online channel
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Nestle
  • Danone
  • Arla Foods
  • Fonterra
  • Lactalis Group
  • Yili Group
  • Mengniu Dairy
  • FrieslandCampina
  • Inner Mongolia Yili Industrial Group Co Ltd
  • Meiji Co Ltd
  • Royal FrieslandCampina N.V.
  • China Mengniu Dairy Company Limited
  • Dean Foods
  • Unilever
  • Grupo Lala
  • Bright Food Group Co., Ltd.
  • Morinaga Milk Industry Co., Ltd.
  • Parmalat S.p.A.
  • Yakult Honsha Co., Ltd.
  • Sodiaal
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Dairy Drinks Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Dairy Drinks Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Dairy Drinks Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Dairy Drinks Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Dairy Drinks Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Dairy Drinks Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Dairy Drinks Market size was valued at USD 70.19 billion in 2021 and is poised to grow from USD 73.77 billion in 2022 to USD 109.82 billion by 2030, at a CAGR of 5.10% during the forecast period (2023-2030).

dairy drinks market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Dohler GmbH', 'Corbion NV', 'Cargill Incorporated', 'GCMMF Ltd.', 'Kerry Group plc', 'Saputo Inc.', 'Nestle SA', 'Chobani', 'Dean Foods', 'Fonterra Co-operative Group Limited'

The attraction of consumers increased significantly due to the formulation of functional beverages with new and mouth-watering flavours by producers. Also, because of the several benefits for the immune system facilitated by dairy drinks and other functional drinks, its consumption is quickly increasing. Consumers' preferences towards nutritionally rich and readymade beverages has increased with the increasing awareness to keep the body safe from different diseases. Growing demand for drinkable yogurts is driving the sales performance of dairy drinks and these can be consumed on a regular way, daily, with no side effects which is propelling the market’s growth.

The unique taste and functional properties over other dairy-based beverages has increased with the increasing demand for drinkable yogurt in the last few years. These quality drinks provide a rich amount of nutrients including vitamin A, vitamin D, calcium, potassium, magnesium which gives positive nutrition and help reduce nutritional deficiency. Moreover, the product launches by the leading players in a consistent way such as aloe vera infused yogurt drinks and ragi infused yogurt drinks in the market have further boosted the dairy beverages market.

North America is anticipated to hold the largest market share to the increasing consumption of functional beverages. The dependence on ready-made drinks beverages increased due to the rising number of working-population has turned the growth of the dairy drinks market in the region over the forecast period. The organic dairy product holds the second position in the food category in this region, which contributes to the regional growth of the dairy drinks market.

Dairy Drinks Market size was valued at USD 73.77 billion in 2022 and is poised to grow from USD 77.53 billion in 2023 to USD 115.43 billion by 2031, growing at a CAGR of 5.10% during the forecast period (2024-2031).

dairy drinks market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Nestle', 'Danone', 'Arla Foods', 'Fonterra', 'Lactalis Group', 'Yili Group', 'Mengniu Dairy', 'FrieslandCampina', 'Inner Mongolia Yili Industrial Group Co Ltd', 'Meiji Co Ltd', 'Royal FrieslandCampina N.V.', 'China Mengniu Dairy Company Limited', 'Dean Foods', 'Unilever', 'Grupo Lala', 'Bright Food Group Co., Ltd.', 'Morinaga Milk Industry Co., Ltd.', 'Parmalat S.p.A.', 'Yakult Honsha Co., Ltd.', 'Sodiaal'

The attraction of consumers increased significantly due to the formulation of functional beverages with new and mouth-watering flavours by producers. Also, because of the several benefits for the immune system facilitated by dairy drinks and other functional drinks, its consumption is quickly increasing. Consumers' preferences towards nutritionally rich and readymade beverages has increased with the increasing awareness to keep the body safe from different diseases. Growing demand for drinkable yogurts is driving the sales performance of dairy drinks and these can be consumed on a regular way, daily, with no side effects which is propelling the market’s growth.

The unique taste and functional properties over other dairy-based beverages has increased with the increasing demand for drinkable yogurt in the last few years. These quality drinks provide a rich amount of nutrients including vitamin A, vitamin D, calcium, potassium, magnesium which gives positive nutrition and help reduce nutritional deficiency. Moreover, the product launches by the leading players in a consistent way such as aloe vera infused yogurt drinks and ragi infused yogurt drinks in the market have further boosted the dairy beverages market.

North America is anticipated to hold the largest market share to the increasing consumption of functional beverages. The dependence on ready-made drinks beverages increased due to the rising number of working-population has turned the growth of the dairy drinks market in the region over the forecast period. The organic dairy product holds the second position in the food category in this region, which contributes to the regional growth of the dairy drinks market.

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Global Dairy Drinks Market

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