Dairy products are types of foods made from milk of mammals, basically cows, buffalos, goat, sheep, yak, and camel. As milk is liquid based product it is prone to unwanted microbial growth resulting in product disintegration. To avoid this problem, and to extend shelf life of milk it is processed to form various dairy products such as cheese, butter, milk powder, ice-cream, yogurt, etc.
Asia Pacific accounts for largest revenue share to global dairy products market over the forecast period
Increasing awareness about health consciousness, along with rising demand for high protein food and increasing consumption of premium dairy products are key factors driving growth of the global dairy products market. In addition, sports nutrition are some other factors expected to propel growth of the global dairy products market
Availability of cholesterol free substitutes toned milk, soymilk, rice milk, potato milk, and almond milk is expected to hamper growth of the global dairy products market during forecast period.
Introduction of new dairy products such as omega-3 fatty acids enriched milk, and A2 milk, as well as other health oriented dairy products such as standard milk with less fat, fromage frais, probiotic yogurts, and lactose-free goat cheese products are supporting growth of the global dairy products market.
The global dairy products market is segmented on the basis of type and region. On the basis of region, the global dairy products market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Asia Pacific is a dominant player in the global dairy products market and accounts for largest market share in terms of revenue. This is attributed to easy accessibility of raw material, increasing consumer base, and existence of animal farming in the region. The market in Latin America is expected to register high growth rate over the forecast period, owing to presence of second largest dairy herd present in Brazil after India.
Prominent players in the global dairy products market include Dean Foods Company, China Mengniu Dairy Company Limited, Savencia SA, Amul, Nestlé S.A., Groupe Lactalis S.A., Dairy Farmers of America, Inc., Danone, The Kraft Heinz Company, and Fonterra Co-operative Group Limited.