The global dairy blends market is estimated to be valued at USD 2.4 Bn in 2022. According to a newly released report by Future Market Insights (FMI), the overall market value is expected to reach USD ~4.5 Bn by 2032, rising at a CAGR of ~7.0% during 2022-2032.
Dairy blends are dairy mix ingredients from butter or cream concentration mixed with vegetable oils. Dairy blends are insipid and are hence mixed with non-dairy ingredients like sugar, cocoa powder, vegetable fats, dextrin, aroma, salt, and other flavorings to add flavor. Dairy as a functional food is renowned and hence dairy products are usually sold at a very high price but dairy blends can be imported at a much lower price in comparison to the dairy products list.
Dairy blends are in high demand across diverse sectors, among which bakery segment has emerged as a key end user. Dairy blends, in form of both spreadable blends and powder, are often used in making cakes and breads. These blends are often used to make cake toppings of different flavours.
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Rising Demand for Healthier Alternatives to Traditional Dairy Products Creates Opportunity for Expansion
Consumers have become more concerned about their health and wellbeing than ever before. As a result, replacing traditional meal with food with higher nutritive value has become their top priority. This definitely gives impetus to dairy blends producers, since their products are often touted as healthier alternative to traditional dairy products such as whole milk. Dairy blends are believed to contain all the necessary dairy nutrient but are low in fat content. As a result their popularity is surging among consumers looking to reduce cholesterol and weight.
Who is Winning?
Some of the leading players operating in the dairy blends market are Fonterra Co-operative Group (Anchor), Abbott Nutrition, Cargill Inc., Advanced Food Products, All American Foods, Inc., Agri- Mark Inc., Hormel Specialty Products, Cape Food Ingredients, Friesland Campina N.V., Pacificblends Ltd., Doehler Group, Kerry Group, and Agropur Ingredients
Studies suggest that the global dairy blends market is gradually heading towards fragmentation. The rising awareness about the use of dairy blends and their cost effectiveness, are two primary factors making the market highly lucrative. Therefore, it is likely to witness the entry of several new players in the coming years.
Dairy Blends Market Segmentation
The global dairy blends market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
By Application :
- Infant Formula
- Ice Cream
- Bakery
- Confectionery
- Butter & Cheese Blends
- Beverages
- Others
By Flavor :
- Regular
- Flavoured
By Form :
- Spreadable
- Powder
- Liquid
By Distribution Channel :
- B2B
- B2C
- Modern Trade
- Convenience Store
- Forecourt Retail
- Online Retail
By Region :
- North America
- Latin America
- Europe
- APEJ
- Japan
- Oceania
- Middle East & Africa
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Key Research Findings
- The global dairy blends market was valued at US$1.8 Bn in 2019. The market is poised to grow at an impressive 7.6% through the forecast period (2019-2029)
- Dairy blends are finding high uptake in the bakery segment which has emerged as a key end user. Products such as spreadable blends and powder are being increasingly used to make cake toppings with myriad flavours.
- Demand for dairy blends is anticipated to surge in the foreseeable future as leading stakeholders focus on innovation to attain hegemony in the market.
- Regionally, North America is slated for extremely high growth owing to the high consumption of dairy products in the region. High demand for dairy blends in China will stoke growth in the Asia Pacific region.
- Regular dairy blends are forecast to maintain their lead during the forecast period on back of their soaring popularity and high demand
- While consumer patterns for dairy blends are normalizing in countries such as China, US is foreseen to suffer with a slump in demand as infections soar and large scale quarantines
About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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