Wilmington, Delaware, May 29, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Dairy Market By Type (Milk, Cheese, Yogurt, Butter, Cream, Others), By End User (Commercial, Residential), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, B2B, E-Commerce): Global Opportunity Analysis And Industry Forecast, 2023-2032: Global Opportunity Analysis and Industry Forecast, 2023-2032. According to the report, the global Dairy industry generated $883.2 billion in 2022 and is anticipated to generate 1.5 trillion by 2032, witnessing a CAGR of 5.1% from 2023 to 2032.
Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A14283
Prime determinants of growth
The demand for protein continues to rise, this is attributed to rising consumer awareness towards their health. Dairy products are a rich source of essential nutrients like calcium, protein, and vitamins. An increasing awareness of the nutritional benefits of dairy is driving consumer demand for these products, especially in regions where dietary diversity may be limited. However, the rising demand for plant-based products such as soy milk, almond milk are hampering the market growth of dairy products. The increasing demand for "clean label" products, where consumers seek dairy items with minimal additives, preservatives, and natural ingredients is rising in the market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $883.2 billion |
| Market Size in 2032 | $1.5 trillion |
| CAGR | 5.1% |
| No. of Pages in Report | 289 |
| Segments Covered | Type, End User, Distribution Channel, and region |
| Drivers | Higher attention to health and wellness |
| Rise in innovation and technological advancement in the dairy industry | |
| Opportunities | Integration of AI and ML technology in dairy industry |
| Restraints | Growth in preference for plant-based dairy substitutes |
The milk segment to maintain its leadership status throughout the forecast period.
Based on type, the milk segment held the highest market share in 2022, accounting for more than two-fifth of the global dairy market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to increasing consumer preference for dairy products and the growing awareness of its nutritional benefits. However, the others segment is the fastest-growing segment and is projected to manifest the highest CAGR of 7.3% from 2023 to 2032. The demand for other dairy products is rising due to their versatile applications in the food industry, including sports nutrition, functional foods, and culinary uses.
Procure Complete Report (289 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/dairy-market
The residential segment to maintain its leadership status throughout the forecast period.
Based on end user, the residential segment held the highest market share in 2022, accounting for more than half of the global dairy market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increased remote work opportunities and a desire for comfortable, flexible living spaces which is fostering the demand for dairy products in the residential segment. However, the commercial segment is the fastest-growing segment and is projected to manifest the highest CAGR of 5.7% from 2023 to 2032. This is attributed to the upsurge of fast food culture and QSR.
The business-to-business segment to maintain its leadership status throughout the forecast period.
Based on distribution channel, the business-to-business segment held the highest market share in 2022, accounting for more than two-fifth of the global dairy market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to increased QSR and food service industry growth, alongside expanding food processing operations, beyond just nutritional advantages. However, the e-commerce segment is the fastest-growing segment and is projected to manifest the highest CAGR of 5.7% from 2023 to 2032. This is attributed to the rising demand for online delivery of products because of upsurge in busy or sedentary lifestyle.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/A14283
Asia-Pacific to maintain its dominance by 2032
Based on region, the Asia-Pacific region held the highest market share in 2022, accounting for more than one-third of the global dairy market revenue, and is estimated to maintain its leadership status throughout the forecast period and is also the fastest growing region with the CAGR of 5.7% during the forecast period. The rising demand for the Asia-Pacific region in the market is driven by its burgeoning middle class and expanding consumer base, offering lucrative market opportunities beyond just nutritional benefits.
Leading Market Players:
- NESTLE S.A.
- INNER MONGOLIA YILI INDUSTRIAL GROUP CO., LTD.
- DAIRY FARMERS OF AMERICA, INC.
- CHINA MENGNIU DAIRY COMPANY LIMITED
- DANONE S.A.
- LACTALIS GROUP
- FONTERRA CO-OPERATIVE GROUP LIMITED
- SAPUTO INC.
- GUJARAT COOPERATIVE MILK MARKETING FEDERATION LTD.
- BRITANNIA INDUSTRIES LIMITED
The report provides a detailed analysis of these key players in the global Dairy market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Food & Beverages Industry:
Cheese Market: Global Opportunity Analysis and Industry Forecast 2021-2030
Plant-based Milk Market Size, Share Analysis and Industry Forecast, 2023-2032
Milk Powder Market: Global Opportunity Analysis and Industry Forecast, 2022-2031
Dairy Enzyme Market Size, Share, Competitive Landscape and Industry Forecast, 2021-2031
Anhydrous Milk Fat Market: Global Analysis and Growth Forecast, 2021-2031
Dairy Protein Market: Global Opportunity Analysis and Industry Forecast, 2021-2027
Dairy Based Beverages Market Size, Share Analysis and Growth Forecast, 2024-2035
Plant Based Dairy Products Market: Global Opportunity Analysis and Forecast, 2024-2035
Dairy Cultures Market Size, Share, Competitive Landscape and Industry Forecast, 2023-2032
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-8007925285
Fax: +1-800-792-5285
Web: https://www.alliedmarketresearch.com/reports-store/food-and-beverages
Follow Us on | Facebook | LinkedIn | YouTube
