What Has Been the Growth Trajectory of the Dairy Food Market?
The dairy food market has seen considerable growth due to a variety of factors.
• The size of the dairy food market has seen significant expansion in the last few years. Projected growth estimates state that it will increase from $859.63 billion in 2024 to $917 billion in 2025, evolving at a compound annual growth rate (CAGR) of 6.7%.
Factors contributing to the growth during the historic period include an increase in the global population, high disposable income, a rising number of consumers focusing on health, and favorable interest rates.
What are the Forecasted Growth and Key Factors of the Dairy Food Market?
The dairy food market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the dairy food market is anticipated to achieve robust growth. The market is predicted to expand to a value of $1186.38 billion by 2029 with a compound annual growth rate (CAGR) of 6.7%.
This projected development during the forecast period is due to several factors, including the COVID-19 pandemic, rising population figures, growth in organized retail, enhanced cold chain systems, heightened dietary awareness, and a surge in new product launches. Upcoming trends for the forecast period encompass the utilization of Internet of Things (IoT) technology, increased collaboration between dairy food organizations and e-commerce companies, a growing demand for clean label products, the use of robotics and automation in the dairy sector, and brand expansion through partnerships and acquisitions.
What Are the Critical Driver Fuelling the Dairy Food Market's Growth?
The rise in preference for local, sustainable, and organic food production is projected to offer a positive influence on the dairy food market throughout the forecast period. Organic alternatives, including organic dairy products, lay significant focus on customer health, environmental stability, and the welfare of animals. Buyers have become more invested in the origins and method of food production and are prepared to invest slightly extra for what they consider to be healthy. Europe experiences a very high import rate, particularly regarding fruits and vegetables, as organic food production rates are unable to meet the consumer demand. For example, in 2023, sales of organic food in the US exceeded $60 billion for the first time, as per the US-based Organic Trade Association's 2022 report, marking a milestone for the strong organic sector. Comprehensive organic sales, which also include organic non-food items, reached a new peak at $67.6 billion in 2023.
How Is the Dairy Food Market segmented?
The dairy food market covered in this report is segmented –
1) By Type: Milk And Butter, Cheese, Dry, Condensed, And Evaporated Dairy Products, Ice Cream And Frozen Dessert
2) By Source: Cattle, Sheep, Goat, Camel
3) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, E-Commerce, Others
Subsegments:
1) By Milk and Butter: Whole Milk, Skim Milk, Low-Fat Milk, Butter (Salted and Unsalted), Ghee, Cream (Heavy Cream, Whipping Cream)
2) By Cheese: Cheddar Cheese, Mozzarella Cheese, Cream Cheese, Blue Cheese, Feta Cheese, Processed Cheese, Cheese Spreads
3) By Dry, Condensed, and Evaporated Dairy Products: Dry Milk Powder (Skim and Whole), Condensed Milk, Evaporated Milk, Cream Powder, Instant Milk Products
4) By Ice Cream and Frozen Dessert: Regular Ice Cream, Low-Fat Ice Cream, Non-Dairy Ice Cream, Gelato, Sorbet, Frozen Yogurt
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What New Trends Are Influencing the Dairy Food Market?
The integration of Internet of Things (IoT) technology in the tracking and safe handling of dairy products has been on the rise. IoT, a technology characterized by a web of devices or vehicles that extensively swap data and give insights into a system or process, is utilized in tracking components used in dairy product manufacturing. Internet-enabled devices affixed to trucks and storage coolers monitor dairy goods and label them with environmental parameters like temperature and location to ensure safe handling during transit. A practical illustration of this is the deployment of IoT technology by the Chinese government via their National Food Quality Safety Traceability Platform, aimed at enhancing food production supply chain quality and safety.
Who Are the Key Players in the Dairy Food Market?
Major companies operating in the dairy food market include:
• Groupe Lactalis S.A.
• Danone S.A.
• Fonterra Co-operative Group Limited
• Inner Mongolia Yili Industrial Group Co. Ltd.
• Nestle S.A.
• Saputo Inc
• Arla Foods amba
• Dairy Farmers of America
• Amul
• Pacific Dairy
• China Mengniu Dairy Company Limited
• Milk Powder Co.Ltd
• China Shengmu Organic Milk Limited
• Mother Dairy
• Kwality Limited
• Dynamix Dairy
• AAVIN
• MILMA
• Dudhsagar Dairy
• Bates Dairy
• Müller UK & Ireland
• Dairy Crest
• Meadow Foods
• Dale Farm
• Yeo Valley
• Glanbia Cheese
• Lactalis International
• Kompaniya Pavlov
• Olam
• Rusmolco
• CLAL
• Siemens Dairy industry
• Gabrovo Milk Ltd.
• JOSSI Ltd.
• Kondov Ecoproductia
• Sofia
• Agropur Cooperative
• Schreiber Foods
• Kraft Heinz Co.
• ConAgra Brands
• Prairie Farms Dairy Inc.
• California Dairies Inc.
• Italac
• Piracanjuba
• La Serenísima
• Colun
• Ilolay
• Earth’s Own Food Company
• Eden Foods. Inc
• Nada Dairy
• Nadec
• Saudia Dairy and Foodstuff Company
• Ornua
• Danya Foods Ltd
• Al Amoudi Group
• Almarai
• Freisland
• Pinar Dairy Food Co
• Tara Dairy
• Bandini Cheese (Pty) Ltd.
• Clover SA (Pty) Ltd.
• Coega Dairy (Pty) Ltd.
• Douglasdale Dairy (Pty) Ltd.
• Dewfresh (Pty) Ltd.
What Is The Most Dominant Region In The Dairy Food Market?
Asia-Pacific was the largest region in the dairy food market in 2024. Western Europe was the second-largest region in the dairy food market. The regions covered in the dairy food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
