Global Dairy Product Market

Global 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: February, 2024
Pages: 274 | Tables: 92 | Figures: 76

Global Dairy Product Market News

  • 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.
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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).

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. '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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