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.

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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:

Danone
Groupe Lactalis
Simple Love Yogurt
Fage
Madeta
Ornua
Kwality
Lato Milk
Milk Mantra
Nomadic Foods
The Collective NZ
Mihan Dairy & Ice Cream
Alliston Creamery and Dairy Ltd
Savencia Fromage and Dairy
Jumpin' Good Goat Dairy
Clofine Dairy & Food Products
Lone Star Dairy Products
China Shengmu Organic Dairy
Rangpur Dairy & Food Products
Fonterra Future Dairy Partners
Maeil Dairy Industry Company
Saudia Dairy & Foodstuff
Stickney Hill Dairy
Bright Dairy & Food Company
Continental Dairy Facilities
XX Ltd

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Frequently Asked Questions

1. What is the growth drivers for the Dairy Market?

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

2. What is the challenge of the Dairy Market?

Rise of veganism and plant-based diets is the challenge in the Dairy Market.

3. What is the projected Dairy Market size & and growth rate of the Market?

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

4. What segments are covered in the Market report?

The segments covered in the market report are by Product Type, and Distribution Channel.

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