Rockville Pike, Dec. 16, 2024 (GLOBE NEWSWIRE) -- According to the newly published report by Fact.MR, a market research and competitive intelligence provider, the global milk & cream manufacturing market is evaluated to reach US$ 923.95 billion in 2024 and escalate at a CAGR of 5.2% between 2024 and 2034.
Due to a wide range of uses in several industries, the worldwide milk and cream production business is expanding at a steady rate. In addition to conventional dairy products, producers are seeing a rise in demand from unanticipated sources, such as biotechnology, cosmetics, and medicines.
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This increase is especially noticeable in potentially high growth countries, where the demand for dairy-based goods is driven by shifting consumer tastes. Since milk ingredients are used in everything from baby formula to high-end cosmetic products, the industry's adaptability has grown to be at noteworthy strength.
With its creative uses in sports nutrition, protein-enriched meals, and functional drinks, the food sector continues to be the dominant force. Further broadening the market reach, producers are now able to develop customized ingredients for certain industrial uses thanks to technical developments in processing. As new uses are developed and dairy consumption rises in potentially high growth countries, industry analysts predict that this rising trend will continue. Long-term market stability is ensured by this expansion, which is supported by enhanced processing technology and sustainable production methods.
Key Takeaways from Market Study
- The global milk & cream manufacturing market is forecasted to reach US$ 1.543,94 billion by 2034-end.
- The North American market is analyzed to expand at a CAGR of 5.4% through 2034.
- The fluid milk segment is approximated to progress at a CAGR of 4.9% between 2024 and 2034.
- The East Asian market is projected to advance at a CAGR of 5.3% from the year 2024 to 2034.
- The markets in Japan and South Korea are forecasted to progress at a CAGR of 4.4% and 5.1% through 2034 respectively.
- Among several major markets, the discount stores segment is estimated to escalate at a CAGR of 3.5% through 2034.
“Cosmetics and personal care industry is also using heavily milk and cream making the demand upsurge around the world,” reports a Fact.MR analyst.
Innovative Packaging Solutions and Improved Logistics Making Manufacturers Richer
Global dairy producers are using advanced marketing techniques to increase consumer demand for cream and milk products. Leading firms are creating functional dairy products enhanced with proteins, vitamins, and probiotics while focusing on natural ingredients and nutritional advantages through health-focused product positioning. Diverse customer demographics are drawn to digital marketing efforts on social media platforms that highlight the consumption of products, from culinary applications to cosmetic treatments. In addition, several manufacturers are collaborating with dietitians and fitness gurus to highlight the importance of dairy in leading healthy lives.
Sustainability has emerged as a major marketing theme, with businesses emphasizing ethical agricultural methods and environment-friendly packaging. Leading companies are launching high-end organic goods and customized formulas for several dietary requirements, such as lactose-free choices. Innovative packaging methods improve convenience and shelf life, while regional modification tactics cater to local taste preferences. These diverse strategies have effectively increased market penetration and significantly increased sales in both developed and potentially high growth regions.
Key Market Players Driving the Milk & Cream Manufacturing Industry
The global key business studied in the report include Arla Foods; Groupe Danone; Nestle SA; Dairy Farmers of America; Amul Industries Private Limited; Kraft Foods
Milk & Cream Manufacturing Industry News & Sales Trends
Leading players in the milk and cream manufacturing industry are prioritizing innovation by introducing new products, such as flavored options, to maintain a competitive edge.
In October 2022, Punjab State Cooperative Milk Producers Federation Ltd. (MILKFED) agreed to launch Verka milk and milk products in Delhi. This initiative benefited the state's farmers and milk producers by boosting their income and offering them competitive rates along with essential support.
Similarly, in August 2022, Parag Milk Foods expanded its premium milk brand, Pride of Cows, to Ahmedabad. By delivering fresh, high-quality cow milk daily from its Bhagyalakshmi dairy farm, the company strengthened its market presence in Ahmedabad and successfully expanded its customer base.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the milk & cream manufacturing market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product & service (fluid milk, milk powder, cream), and major market (wholesalers & supermarkets, food service operators & food processors, convenience stores, discount stores), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
About the Food and Beverage Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food and beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the food and beverage industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
Discover Additional Market Insights from Fact.MR Research
The global plant-based milk powder market is expected to grow at a CAGR of 7.7%, rising from a valuation of $425.3 million in 2024 to $896.5 million by 2034. Meanwhile, alternatives like almond, soy, coconut, oat, and rice milk continue to capture significant consumer interest.
According to a recent industry analysis by Fact.MR, the global UHT milk market is projected to reach a valuation of $74 billion in 2024. By the end of 2034, UHT milk sales are expected to generate revenue of $138.9 billion.
Milk protein concentrate (MPC) is a dairy ingredient produced by removing non-protein components such as water, lactose, and minerals from milk. The global milk protein concentrate market is valued at $4.01 billion in 2024 and is anticipated to grow to $7.64 billion by 2034.
The global breast milk substitute market is currently valued at $18.4 billion and is projected to grow at a robust CAGR of 9.4%, reaching $45.1 billion by 2032. Sales revenue from breast milk substitutes is expected to contribute over 30% of the total global infant formula market share.
Consumers today prefer whey-based drinks and yogurts due to their high nutritional value and low fat content, while dairy-based beverages remain integral to bakeries, confectioneries, and dairy product manufacturing, driving their demand. The milk segment is projected to surpass a valuation of $331.80 billion by the end of 2023, with an expected CAGR of 6% from 2023 to 2027, and average milk consumption estimated at 30.3 kg per person in 2023.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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