Dairy Market: Global Industry Analysis and Forecast (2024-2030)

  • Dairy Market size was valued at USD 858 Bn. in 2023 and the Dairy revenue is expected to grow at a CAGR of 5.01% from 2024 to 2030, reaching nearly USD 1208.10 Bn. by 2030.

  • Format : PDF | Report ID : SMR_1986

Dairy Market Overview:

The dairy industry consists of dairy farms that produce milk and dairy factories that process milk and milk products. Some of the dairy products available in the market are Milk, Cheese, Yoghurt, Butter, Cream, Milk Powder, and others. The dairy industry has been dramatically restructured at all levels in the last 50 years. Farming has changed from an operation heavily dependent on human and animal labour to one where most operations, including milking, are mechanized. There are several reasons for the growth of  the dairy market including rapid urbanization, greater understanding of health and nutrition, significant technological advancements, growing demand for dairy snacks, changing eating habits, and government favourable policies and regulations.

 

Technological developments have changed the way things are done on the farm, in assembly, in processing, and in distribution of the milk and dairy products. Also, there is a continued shift in dietary patterns away from staples and towards animal products, because of changes in diets and shifting towards healthy diet. All these factors are propelling the growth of the Dairy Industry.

Dairy Market

 

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Dairy Market Dynamics:

Health and Nutritional Awareness among Peoples is Driving the Dairy Market.

The great nutritional value of dairy is just a few reasons why consumption is on the increase and more people know that by consuming dairy products, they are able to provide the body with vital nutrients like, vitamins, minerals, calcium, and protein. More customer are being attracted by dairy products because of continuous improvement in dairy industry technology, which has led to flavoured, organic, and lactose-free varieties of the different dairy products. There is a growing demand for convenience and ready-to-eat dairy products, such as cheese sticks and yoghurt drinks, and single serve portions for people who lead busy lives and like to snack, which is provided by the dairy industry. Fitness and wellness trends are on the rise, and along with this comes an increase in demand for high-protein diets, to which dairy products feature greatly with high-protein products like milk, cheese, and yoghurt. All these factors are driving the Dairy Market.

 

Rise of Veganism and Plant-Based Diets is Affecting the Dairy Market.

With ethical, environmental, and health concerns, veganism is becoming increasingly popular, hence peoples are showing less interest in dairy products derived from animals. Plant-based dairy substitutes, such as almond milk, soy milk, and oat milk, are increasingly consumed and gaining more market shares from conventional dairy products. Most people on the planet have an intolerance to lactose the sugar included in milk thereby the people shy off from purchasing conventional dairy products. Casein and whey are two dairy proteins to which certain customers are allergic these allergies cause rather serious allergic reactions. All these factors are affecting the Dairy Market.

 

Dairy Market Segment Analysis:

By Product Type, Dairy Market is divided into Fluid Milk, Cheese, Yoghurt, Flavoured Milk, Milk Powder, and Others. Fluid Milk held the largest share in the market because of its wide spread consumption by the peoples worldwide. It is the primary product of the dairy industry and it is used as a main ingredient for making other dairy product, which keeps the demand high for fluid milk in the market. It is also widely used as a standalone drink as it has healthy and nutritious ingredients like protein, calcium, vitamins, and minerals, which are necessary for the body. With the new innovations milk is available in different varieties like whole skimmed, and lactose free milk, which caters to the variety of consumers. All these factors are propelling the growth of the segment in the market.

Dairy Market1

Dairy Market Regional Insight:

In 2023, Asia Pacific dominated the Dairy market. Large Asian economies such as China, India and Japan further drive the growth of the dairy business in Asia Pacific. The growing retail distribution of dairy products is expected to benefit the Asia-pacific dairy market, coupled with an increase in the number of new products by regional as well as international industry participants is fuelling the dairy market in the region. Huge population of the region, and number of local players in the region are one of the major reasons for the growth of the dairy market in the region.

Dairy Market2

Dairy Market Competitive Landscape:

  • July 2023, Fonterra Co-operative Group Limited launched cheese products in Indonesia, such as cheddar cheese through its brand Anchor to meet the increasing demand for cheese products.
  • July 2023, Fonterra Co-operative Group Limited launched cheese products in Indonesia, such as cheddar cheese through its brand Anchor to meet the increasing demand for cheese products.
  • July 2023, Fonterra Co-operative Group Limited launched cheese products in Indonesia, such as cheddar cheese through its brand Anchor to meet the increasing demand for cheese products

 

Dairy Market Scope:

Dairy Market

Market Size in 2023

USD 858 Bn.

Market Size in 2030

USD 1208.10 Bn.

CAGR (2024-2030)

5.01 %

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

   Segments

By Product Type

Fluid Milk

Cheese

Yoghurt

Flavoured Milk

Milk Powder

Others

By Distribution Channel

Supermarkets and Hypermarkets

Speciality Stores

B2B

Online Platforms

Others

 

Regional Scope

North America- United States, Canada, and Mexico

Europe – UK, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa - South Africa, GCC, Egypt, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

Dairy Market Key Players:

  1. Danone
  2. Groupe Lactalis
  3. Simple Love Yogurt
  4. Fage
  5. Madeta
  6. Ornua
  7. Kwality
  8. Lato Milk
  9. Milk Mantra
  10. Nomadic Foods
  11. The Collective NZ
  12. Mihan Dairy & Ice Cream
  13. Alliston Creamery and Dairy Ltd
  14. Savencia Fromage and Dairy
  15. Jumpin' Good Goat Dairy
  16. Clofine Dairy & Food Products
  17. Lone Star Dairy Products
  18. China Shengmu Organic Dairy
  19. Rangpur Dairy & Food Products
  20. Fonterra Future Dairy Partners
  21. Maeil Dairy Industry Company
  22. Saudia Dairy & Foodstuff
  23. Stickney Hill Dairy
  24. Bright Dairy & Food Company
  25. Continental Dairy Facilities
  26. XX Ltd


Frequently Asked Questions

Health and nutritional awareness among peoples is the driver of the Dairy Market.

1.    Dairy Market: Research Methodology 
2.    Dairy Market: Executive Summary
3.    Dairy Market: Competitive Landscape
4.    Potential Areas for Investment

4.1. Stellar Competition Matrix
4.2. Competitive Landscape
4.3. Key Players Benchmarking
4.4. Market Structure
4.4.1.    Market Leaders 
4.4.2.    Market Followers
4.4.3.    Emerging Players

4.5. Consolidation of the Market
5.    Dairy Market Import Export Landscape
5.1. Import Trends
5.2. Export Trends
5.3. Regulatory Compliance
5.4. Major Export Destinations
5.5. Import-Export Disparities
6.    Dairy Market: Dynamics
6.1. Market Trends by Region
6.1.1.    North America
6.1.2.    Europe
6.1.3.    Asia Pacific
6.1.4.    Middle East and Africa
6.1.5.    South America

6.2. Market Drivers by Region
6.2.1.    North America
6.2.2.    Europe
6.2.3.    Asia Pacific
6.2.4.    Middle East and Africa
6.2.5.    South America

6.3. Market Restraints
6.4. Market Opportunities
6.5. Market Challenges
6.6. PORTER’s Five Forces Analysis
6.7. PESTLE Analysis
6.8. Strategies for New Entrants to Penetrate the Market
6.9. Regulatory Landscape by Region
6.9.1.    North America
6.9.2.    Europe
6.9.3.    Asia Pacific
6.9.4.    Middle East and Africa
6.9.5.    South America

7.    Dairy Market Size and Forecast by Segments (by Value Units)
7.1. Dairy Market Size and Forecast, by Product Type (2023-2030)
7.1.1.    Fluid Milk
7.1.2.    Cheese
7.1.3.    Yoghurt
7.1.4.    Flavoured Milk
7.1.5.    Milk Powder
7.1.6.    Others

7.2. Dairy Market Size and Forecast, by Distribution Channel (2023-2030)
7.2.1.    Supermarkets and Hypermarkets
7.2.2.    Speciality Stores
7.2.3.    B2B
7.2.4.    Online Platforms
7.2.5.    Others

7.3. Dairy Market Size and Forecast, by Region (2023-2030)
7.3.1.    North America
7.3.2.    Europe
7.3.3.    Asia Pacific
7.3.4.    Middle East and Africa
7.3.5.    South America

8.    North America Dairy Market Size and Forecast (by Value Units)
8.1. North America Dairy Market Size and Forecast, by Product Type (2023-2030)
8.1.1.    Fluid Milk
8.1.2.    Cheese
8.1.3.    Yoghurt
8.1.4.    Flavoured Milk
8.1.5.    Milk Powder
8.1.6.    Others

8.2. Dairy Market Size and Forecast, by Distribution Channel (2023-2030)
8.2.1.    Supermarkets and Hypermarkets
8.2.2.    Speciality Stores
8.2.3.    B2B
8.2.4.    Online Platforms
8.2.5.    Others

8.3. North America Dairy Market Size and Forecast, by Country (2023-2030)
8.3.1.    United States
8.3.2.    Canada
8.3.3.    Mexico

9.    Europe Dairy Market Size and Forecast (by Value Units)
9.1. Europe Dairy Market Size and Forecast, by Product Type (2023-2030)
9.1.1.    Fluid Milk
9.1.2.    Cheese
9.1.3.    Yoghurt
9.1.4.    Flavoured Milk
9.1.5.    Milk Powder
9.1.6.    Others

9.2. Dairy Market Size and Forecast, by Distribution Channel (2023-2030)
9.2.1.    Supermarkets and Hypermarkets
9.2.2.    Speciality Stores
9.2.3.    B2B
9.2.4.    Online Platforms
9.2.5.    Others

9.3. Europe Dairy Market Size and Forecast, by Country (2023-2030)
9.3.1.    UK
9.3.2.    France
9.3.3.    Germany
9.3.4.    Italy
9.3.5.    Spain
9.3.6.    Sweden
9.3.7.    Russia 
9.3.8.    Rest of Europe

10.    Asia Pacific Dairy Market Size and Forecast (by Value Units)
10.1. Asia Pacific Dairy Market Size and Forecast, by Product Type (2023-2030)
10.1.1.    Fluid Milk
10.1.2.    Cheese
10.1.3.    Yoghurt
10.1.4.    Flavoured Milk
10.1.5.    Milk Powder
10.1.6.    Others

10.2. Dairy Market Size and Forecast, by Distribution Channel (2023-2030)
10.2.1.    Supermarkets and Hypermarkets
10.2.2.    Speciality Stores
10.2.3.    B2B
10.2.4.    Online Platforms
10.2.5.    Others

10.3. Asia Pacific Air Traffic Control (ATC) Communications Market Size and Forecast, by Country (2023-2030)
10.3.1.    China
10.3.2.    S Korea
10.3.3.    Japan
10.3.4.    India
10.3.5.    Australia
10.3.6.    Indonesia 
10.3.7.    Malaysia
10.3.8.    Vietnam
10.3.9.    Taiwan
10.3.10.    Bangladesh
10.3.11.    Pakistan
10.3.12.    Rest of Asia Pacific

11.    Middle East and Africa Dairy Market Size and Forecast (by Value Units)
11.1. Middle East and Africa Dairy Market Size and Forecast, by Product Type (2023-2030)
11.1.1.    Fluid Milk
11.1.2.    Cheese
11.1.3.    Yoghurt
11.1.4.    Flavoured Milk
11.1.5.    Milk Powder
11.1.6.    Others

11.2. Middle East and Africa Market Size and Forecast, by Distribution Channel (2023-2030)
11.2.1.    Supermarkets and Hypermarkets
11.2.2.    Speciality Stores
11.2.3.    B2B
11.2.4.    Online Platforms
11.2.5.    Others

11.3. Middle East and Africa Dairy Market Size and Forecast, by Country (2023-2030)
11.3.1.    South Africa
11.3.2.    GCC
11.3.3.    Egypt
11.3.4.    Nigeria
11.3.5.    Rest of ME&A

12.    South America Dairy Market Size and Forecast (by Value Units)
12.1. South America Dairy Market Size and Forecast, by Product Type (2023-2030)
12.1.1.    Fluid Milk
12.1.2.    Cheese
12.1.3.    Yoghurt
12.1.4.    Flavoured Milk
12.1.5.    Milk Powder
12.1.6.    Others

12.2. South America Market Size and Forecast, by Distribution Channel (2023-2030)
12.2.1.    Supermarkets and Hypermarkets
12.2.2.    Speciality Stores
12.2.3.    B2B
12.2.4.    Online Platforms
12.2.5.    Others

12.3. South America Dairy Market Size and Forecast, by Country (2023-2030)
12.3.1.    Brazil
12.3.2.    Argentina
12.3.3.    Rest of South America

13.    Company Profile: Key players
13.1.1.    Danone
13.1.1.1.    Company Overview
13.1.1.2.    Financial Overview
13.1.1.3.    Business Portfolio
13.1.1.4.    SWOT Analysis
13.1.1.5.    Business Strategy 
13.1.1.6.    Recent Developments

13.2. Groupe Lactalis
13.3. Simple Love Yogurt
13.4. Fage
13.5. Madeta
13.6. Ornua
13.7. Kwality
13.8. Lato Milk
13.9. Milk Mantra
13.10. Nomadic Foods
13.11. The Collective NZ
13.12. Mihan Dairy & Ice Cream
13.13. Alliston Creamery and Dairy Ltd
13.14. Savencia Fromage and Dairy
13.15. Jumpin' Good Goat Dairy
13.16. Clofine Dairy & Food Products
13.17. Lone Star Dairy Products
13.18. China Shengmu Organic Dairy
13.19. Rangpur Dairy & Food Products
13.20. Fonterra Future Dairy Partners
13.21. Maeil Dairy Industry Company
13.22. Saudia Dairy & Foodstuff
13.23. Stickney Hill Dairy
13.24. Bright Dairy & Food Company
13.25. Continental Dairy Facilities
14.    Key Findings
15.    Industry Recommendation

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