The Global Dairy Products Market size is expected to reach $574. 3 billion by 2027, rising at a market growth of 4. 7% CAGR during the forecast period. Dairy products are among the important elements of a healthy diet, which are currently witnessing a huge demand across the globe.
New York, May 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Dairy Products Market By Product Type, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06075900/?utm_source=GNW
There are many manufacturers who manages the growing requirements of the health-conscious population all over the world. Various new products like lactose-free, low-fat, and cholesterol-free dairy products are emerged in the market due to the changing trends and preferences among people.
Factors that are contributing to the surging growth of the dairy products market are the increasing consumption of dairy products and the rising inclination of people towards the dairy product for a protein-rich diet. In addition, the high availability of dairy products owing to modern retail facilities & cold chain logistics will further support the growth of the market. Moreover, the Covid-19 pandemic has witnessed the increasing sales of the dairy product via online distribution channels, which further boosted the market growth. It is because dairy products contain several health nutrients like riboflavin, calcium, vitamin A, niacin, potassium, vitamin D, and phosphorus.
COVID 19 Impact
With the outbreak of the Covid-19 pandemic, the demand for dairy products has been increased due to the nutritional value they offer to the consumers. The ongoing pandemic has impacted several sectors of the market. Some sectors have witnessed a growing graph while others have recorded a downfall. However, the dairy products market has seen an increasing demand because many experts have suggested consumers to increase their intake of various dairy products due to the various nutrients offered by them. These nutrients include Vitamin A, Vitamin D, potassium and calcium.
Product Type Outlook
Based on Product Type, the market is segmented into Milk, Yogurt, Cheese, Butter and Other Products. On the basis of product, the milk product segment held the highest revenue share of the market in 2020. This segment is estimated to continue this trend during the forecast period. Factors like increasing milk consumption in the emerging nations because of its high nutritional content like calcium and protein are responsible for this high growth.
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience stores, Online and Others. The online segment is estimated to exhibit the fastest growth rate during the forecast period. It is because online channels are more convenient to people as compared any other distribution channel. A few of the popular online distribution channels that deliver dairy products are Sainsbury’s, Ocado, Just Milk, Mr. Case, and Walmart.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. By region, Europe emerged as a leading region in the dairy products market with a significant revenue share in 2020. The region would maintain this trend even during the forecast period. In this region, Germany is the major country which is estimated to register substantial growth owing to increasing consumer demand for creamers, cheese, and milk desserts. In addition, the demand for clean label & high-quality dairy products is expected to fuel the growth of the regional market.
The major strategies followed by the market participants are Acquisition. Based on the Analysis presented in the Cardinal matrix; Nestle S.A. is the major forerunner in the Dairy Products Market. Companies such as Arla Foods Amba, Royal FrieslandCampina N.V., Saputo, Inc., and Amul are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Arla Foods Amba, Fonterra Co-operative Group Limited, Amul (The Gujarat Co-operative Milk Marketing Federation Ltd.), The Kraft Heinz Company, Nestle S.A., Danone S.A., Royal Frieslandcampina N.V., Saputo, Inc., Meiji Holdings Co., Ltd., and DMK Group (Deutsches Milchkontor eG).
Recent strategies deployed in Dairy Products Market
Partnerships, Collaborations, and Agreements:
Feb-2021: FrieslandCampina partnered with Cayuga Milk Ingredients, a manufacturer of dairy ingredients for the global food and nutrition industries. This partnership aims to do the production of Refit milk proteins MPI 90 and MPC 85. This deal further integrates farmer-controlled cooperatives to bring US consumers a localized source of premium milk proteins, directly from the dairy heartlands of the Finger Lakes region in New York State.
Jul-2020: Amul Dairy entered into a MoU with the government of Andhra Pradesh. This MoU aims to improve the capacities of dairies in the state and also expand the capacities of the cooperative societies, fetch remunerative profits to dairy farmers.
Jan-2020: DMK Ice Cream formed a partnership with Ahoj-Brause. This partnership aimed at the ice cream season and develop a product concept that would be available at the retail shops as the Ahoj-Brause Brause Cup.
Oct-2019: FrieslandCampina came into partnership with the American dairy cooperative United Dairymen of Arizona. The partnership aimed to bring lactoferrin to the market and together can produce 10 tons of lactoferrin every year, which they see as an opportunity for future collaboration.
Jul-2019: Danone North America joined hands with McCarty Family Farms and VanTilburg Farms. This collaboration focused on establishing a new dairy in Mercer Country to supply milk to Danone North America.
Jan-2019: DMK Group signed a manufacturing contract with Dutch dairy giant, FrieslandCampina. This contract aimed to produce cut cheese or mozzarella at DMK sites in Hoogeveen, Netherlands & Georgsmarienhütte, Germany that FrieslandCampina will then market. The requirement of raw material for the production is supplied by FrieslandCampina and DMK would supply production equipment & manufacturing know-how, in this field DMK would continue to modernize the Georgsmarienhütte site.
Acquisition and Mergers:
Sep-2020: Fonterra signed an agreement to acquire Dairy Country to assist the company to drive efficiencies in its Australian cheese business. This acquisition will support Fonterra’s strengths in the Australian retail cheese category.
Sep-2020: FrieslandCampina took over Nutricima’s dairy business. This acquisition aims to add production capacity to FrieslandCampina’s Nigerian subsidiary to fulfill the increasing demand for locally produced evaporated milk & powder milk.
Aug-2020: Saputo merged its Cheese Division (USA) and Dairy Foods Division (USA) into a single division, which is now known as the Dairy Division (USA). This merger would enable the company to have a more agile US platform with its common strategy to improve the position of the company and serve the market through a better understanding of consumer habits & customer expectations that changes rapidly.
Feb-2020: Amul Dairy announced the acquisition of Heritage Foods’s dairy plant in Punjab. This acquisition will expand operations in Punjab to cater to North India for curd, liquid milk & buttermilk, and other dairy products.
Oct-2019: Saputo acquired the specialty cheese business of Lion Dairy & Drinks. This acquisition aimed to enable Saputo’s Dairy Division in Australia to broaden its product offering, by adding and complementing its prevailing activities.
Sep-2019: DMK Group came into an agreement to acquire the assets of the DV Nutrition joint venture. Through this acquisition, DMK group would have become a part of DMK Group’s Industry business unit and DV Nutrition would continue to run from its prevailing site in Hoogeveen, The Netherlands.
Apr-2019: Saputo took over Dairy Crest Group, a United Kingdom-Based Dairy Company. Through this acquisition, Saputo would expand its global presence and enter the UK market.
Product Launches and Product Expansions:
Jan-2021: Fonterra introduced Milk Phospholipids in the U.S. active lifestyle market. These complex lipids, which are naturally present in milk, are clinically proven to assist in managing the effects of stress, to enable customers to maintain their focus and stay positive under stress.
Nov-2020: Arla Foods introduced Nutrilac FO-7922 Organic, a new product for cooking-stable cheese products. This launch is a part of the new organic line, which is positioned to assist manufacturers to fulfil the increasing demand for natural, healthy, and organic products.
Aug-2020: Arla Foods unveiled its first organic ingredient, a micellar casein isolate called MicelPure. It contains at least 87% native milk proteins and is low in lactose & fat, heat stable, and tastes neutral. This ingredient is appropriate for its usage in cooking-stable cheeses, ice cream, yogurt, and puddings with ready-to-drink high-protein beverages & powder shakes.
Jan-2019: The Kraft Heinz Company introduced Kraft Natural Cheese. It is made with milk from cows, who are raised without any artificial growth hormone rBST. This range of cheese includes natural slices, shredded cheese, blocks, and snacking cheese.
Scope of the Study
Market Segments covered in the Report:
By Product Type
• Other Products
By Distribution Channel
• Convenience stores
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Arla Foods Amba
• Fonterra Co-operative Group Limited
• Amul (The Gujarat Co-operative Milk Marketing Federation Ltd.)
• The Kraft Heinz Company
• Nestle S.A.
• Danone S.A.
• Royal Frieslandcampina N.V.
• Saputo, Inc.
• Meiji Holdings Co., Ltd.
• DMK Group (Deutsches Milchkontor eG)
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• Highest number of market tables and figures
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• Assured post sales research support with 10% customization free
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