Dairy Product Market Size

Dairy Product Market size was valued at USD 29.8 Billion in 2023 and is poised to grow from USD 31.14 Billion in 2024 to USD 47.65 Billion by 2032, growing at a CAGR of 4.5% during the forecast period (2025-2032).

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. 'Nestlé S.A. (Switzerland) ', 'Danone S.A. (France) ', 'Saputo Inc. (Canada) ', 'Yili Group (China) ', 'Mengniu Dairy (China) ', 'Meiji Holdings Co., Ltd. (Japan) ', 'Fonterra Co-operative Group Limited (New Zealand) ', 'Arla Foods (Denmark) ', 'The Kraft Heinz Company (USA) ', 'Dean Foods Company (USA) ', 'FrieslandCampina (Netherlands) ', 'Parmalat S.p.A. (Italy) ', 'Groupe Lactalis (France) ', 'Amul (Gujarat Cooperative Milk Marketing Federation) (India) ', 'Vinamilk (Vietnam Dairy Products Joint Stock Company) (Vietnam) ', 'Murray Goulburn Co-operative Co. Limited (Australia) ', 'Sodiaal (France) ', 'Savencia Fromage & Dairy (France) ', 'Unilever N.V. (Netherlands/UK) ', 'Kerry Group plc (Ireland)'

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.

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.

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.