Global Dairy Product Market

Dairy Product Market Size, Share, Growth Analysis, By Product (Milk, Cheese), By Distribution channel(Hypermarket/supermarket, convince store), By Sources(Cattle, Sheep) - Industry Forecast 2024-2031


Report ID: SQMIG30I2359 | Region: Global | Published Date: July, 2001
Pages: 274 | Tables: 92 | Figures: 76

Dairy Product Market Insights

Dairy Product Market size was valued at USD 28.55 billion in 2019 and is poised to grow from USD 29.8 billion in 2023 to USD 45.6 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

Regular consumption of dairy products improves bone and gut health and provides a sufficient amount of calcium to Body. Also consumption of dairy products reduced risk of cardiovascular diseases. The rising demand for cheese in developing nations in various types of fast food is driving the market growth. 

On the other hand,many consumers presume cheese is unhealthy due to its association with a high amount of fats. But cheese is good for heart health which is proven in recent studies. Cheese is an excellent source of calcium for people with lactose intolerance. 

Growing demand for infant nutrition food and demand for organic clean label dairy products are also increasing the market growth. Innovation in various types of dairy products are opportunities for manufacturers in the dairy product market. 

Innovation in the packaging, such as small portion size, on-the-go packs, and single serve create lucrative opportunities for players. 

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

Market snapshot - 2024-2031

Global Market Size

USD 28.55 billion

Largest Segment

Milk

Fastest Growth

Milk

Growth Rate

4.5% CAGR

Global Dairy Product Market ($ Bn)
Country Share for Europe Region (%)
Global Dairy Product Market By Product ($ Bn)
Global Dairy Product Market By Product (%)

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Dairy Product Market Segmental Analysis

Global Daily product market is segmented based on the  Product, Distribution channels, sources and region. Based on the product, the global dairy products market is segmented into Milk, Cheese, Yogurt, Butter. Based on the  distribution channel, the Daily product market has been segmented into Hypermarket/supermarket, Convenience Stores, online. Based on source dairy products market is segmented into Cattle, Sheep, Goat, and Camel. Based on Region Daily product market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Daily product market Analysis by Product

Milk segment has dominated the market growth of dairy products in 2021 and anticipated to maintain its dominance over the forecast period.  Milk sector accounted for the largest revenue share of 34.5% in 2021. Rising milk consumption in developing countries due to it being highly nutritious and offers protein and calcium.

The cheese product segment is the fastest growing segment with higher CAGR during forecast period, due to rising cheese demand in developing countries as a result of growing inclination towards western food habits. innovation in cheese products and its easy availability influenced the segment growth.

Daily product market Analysis by Distribution channels

The convenience store segment dominated the market and accounted for the largest revenue share of over 62% in 2021. A rise in the number of convenience stores and small retail stores and the availability of a wide range of products in such stores are the key factors for increasing demand for the segment growth.  They have controlled temperature with the help of a modern refrigerator to avoid any spoilage of dairy products.  The main factor was Consumers find it convenient to buy daily needs at lower prices in these stores. 

The online segment is expected to grow at the fastest CAGR over the forecast period. The growth is due to the various conveniences offered by these distribution channels. Some of the popular online distribution channels for dairy products are delivered online through mobile applications. The growing usage of the internet and improved connectivity across the world will be the main driving factor for this segment’s growth.

Global Dairy Product Market By Product, 2019 (%)

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Dairy Product Market Regional Insights

Europe dominated the market and accounted for the largest revenue share of around 32% in 2021. It will continue its dominance over the forecast period due to rising consumer demand for cheese, creamers, and milk desserts. Demand for clean labels and high-quality dairy products will increase demand for dairy products market growth in the region.

Asia Pacific is the fastest-growing region during the forecast period. The working class are demanding packaged and quality dairy products. India is expected to have the fastest growth rate in the regional market due to the increasing demand for value added dairy products such as yogurt and cheese.  The rapid growth of the dairy products market is due to huge milk production and promotion by the government and dairy industry for the milk processing in Asia Pacific region.

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

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Dairy Product Market Dynamics

Daily product market Drivers

Increasing Demand for Value Added Dairy Products

  • Dairy products demand is increasing due to developments and innovations in dairy products on the retail platform. Changing consumer lifestyles with their rising disposable incomes have increased the demand for value added dairy products like cheese, butter, creams, and yogurts. Dairy processors are developing innovative products such as value added cheese powder and dairy creamers to fulfill the needs of the customers. These types of factors are driving the Dairy products market during the forecast period.

Daily product market Restraints

Rising Popularity of Plant based Dairy Product

  • The growing awareness for animal welfare has increased the demand for plant based dairy products among the consumers. The plant based products are healthier and safer thus, creating demand for these dairy alternatives like soy milk and almond milk based products. These factors are likely to restrain market growth. 

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Dairy Product Market Competitive Landscape

Global dairy products 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.

Daily product market Top Player's Company Profiles  

  • Nestle SA
  • Danone S.A.
  • Fonterra Co-operative Group Limited
  • Arla Foods amba
  • Dairy Farmers of America Inc.
  • Dean Foods Company
  • Parmalat S.p.A.
  • Royal FrieslandCampina N.V.
  • Yili Group
  • Meiji Holdings Co., Ltd.
  • Saputo Inc.
  • China Mengniu Dairy Company Limited
  • Lactalis Group
  • Sodiaal Group
  • Muller Group
  • Land O'Lakes Inc.
  • Agropur Cooperative
  • Schreiber Foods Inc.
  • Groupe Bel
  • The Kraft Heinz Company

Daily product market Recent Developments

  • In September 2022, Nestle Partners with Perfect Day to explore the development of products made with animal-free dairy protein.
  • In Nov 2021, Lactalis Corporation acquired Kraft Heinz. to improve its product lines with new and innovative goods and expand its revenues and market presence.

Dairy Product Key Market Trends

Demand for Novel Alternatives to Maintain Healthy Lifestyle will Shape Market’s Future 

  • Clean label or organic dairy products are one of the attractive new trends in the new dairy industry. Growing popularity of the keto diet for body weight management has increased the demand for dairy products such as grass fed butter. Customers purchasing packaged food from the market is the key trend for increasing growth of the market. The increasing involvement of government dairy in product manufacturing has created a new trend in the dairy market.

Dairy Product 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 products market analysis, Market is growing due to increasing demand for value-added dairy products. Plant based dairy products are challenging manufactures in the dairy industry. Investment in strategic marketing and understanding their consumers will provide players with advantages. Investing in expansion of geographical base will also provide an edge to players. 

Report Metric Details
Market size value in 2019 USD 28.55 billion
Market size value in 2031 USD 45.6 billion
Growth Rate 4.5%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product 
    • Milk, Cheese, Yogurt, Butter
  • Distribution channel
    • Hypermarket/supermarket, convince store, online.
  • Sources
    • Cattle, Sheep, Goat, Camel
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 SA
  • Danone S.A.
  • Fonterra Co-operative Group Limited
  • Arla Foods amba
  • Dairy Farmers of America Inc.
  • Dean Foods Company
  • Parmalat S.p.A.
  • Royal FrieslandCampina N.V.
  • Yili Group
  • Meiji Holdings Co., Ltd.
  • Saputo Inc.
  • China Mengniu Dairy Company Limited
  • Lactalis Group
  • Sodiaal Group
  • Muller Group
  • Land O'Lakes Inc.
  • Agropur Cooperative
  • Schreiber Foods Inc.
  • Groupe Bel
  • The Kraft Heinz Company
Customization scope

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  • Region

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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 Product 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 Product 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 Product 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 Product 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 Product Market:

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

Regional Analysis: Further analysis of the Dairy Product 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 Product Market size was valued at USD 28.55 billion in 2019 and is poised to grow from USD 29.8 billion in 2023 to USD 45.6 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

dairy products 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 SA', 'Danone S.A.', 'Fonterra Co-operative Group Limited', 'Arla Foods amba', 'Dairy Farmers of America Inc.', 'Dean Foods Company', 'Parmalat S.p.A.', 'Royal FrieslandCampina N.V.', 'Yili Group', 'Meiji Holdings Co., Ltd.', 'Saputo Inc.', 'China Mengniu Dairy Company Limited', 'Lactalis Group', 'Sodiaal Group', 'Muller Group', 'Land O'Lakes Inc.', 'Agropur Cooperative', 'Schreiber Foods Inc.', 'Groupe Bel', 'The Kraft Heinz Company'

Dairy products demand is increasing due to developments and innovations in dairy products on the retail platform. Changing consumer lifestyles with their rising disposable incomes have increased the demand for value added dairy products like cheese, butter, creams, and yogurts. Dairy processors are developing innovative products such as value added cheese powder and dairy creamers to fulfill the needs of the customers. These types of factors are driving the Dairy products market during the forecast period.

Clean label or organic dairy products are one of the attractive new trends in the new dairy industry. Growing popularity of the keto diet for body weight management has increased the demand for dairy products such as grass fed butter. Customers purchasing packaged food from the market is the key trend for increasing growth of the market. The increasing involvement of government dairy in product manufacturing has created a new trend in the dairy market.

Europe dominated the market and accounted for the largest revenue share of around 32% in 2021. It will continue its dominance over the forecast period due to rising consumer demand for cheese, creamers, and milk desserts. Demand for clean labels and high-quality dairy products will increase demand for dairy products market growth in the region.

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Global Dairy Product Market

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