The Dairy Food by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Dairy Food, The dairy food market size has grown strongly in recent years. It will grow from $810.37 billion in 2023 to $865.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to global population growth, a rise in disposable income, growing number of health-conscious consumers, and low interest rate environment.
The dairy food market size is expected to see strong growth in the next few years. It will grow to $1110.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to the covid-19 pandemic, rising population, rising penetration of organized retail, improvement in cold chains, increased dietary consciousness and increasing product launches. Major trends in the forecast period include internet of things (iot) technology, increasing dairy food companies’ collaboration with e-commerce companies, increasing demand for clean label products, robotics and automation in dairy industry, partnerships and acquisition for brand expansions.
The increasing demand for local, sustainable, and organic food production is expected to positively impact the dairy food market during the forecast period. Organic food production, including organic dairy products, places a strong emphasis on consumer health, environmental protection, and animal welfare. Consumers are now becoming more concerned with how food is raised and prepared and are willing to pay a little more for something they recognize as healthy. Across Europe, there is a very high import rate (especially for fruits and vegetables), as the rate of production is far lower than the consumer demand for organic produce. For instance, in June 2022, the Organic Trade Association, a US-based trade association representing over 9,500 organic businesses, between the years 2020 and 2021, organic sales increased by 2% surpassing $63 billion as compared to previous years. This growing demand for organic products offers considerable opportunities for dairy product producers in both developed and developing countries, which is likely to drive the market during the forecast period.
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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/Hypermarkets, Convenience Stores, E-Commerce, Others
Top Major Players:
Groupe Lactalis S.A.
Danone S.A
Fonterra Co-operative Group Limite
Inner Mongolia Yili Industrial Group Co., Ltd
Nestle S.A.
Asia-Pacific was the largest region in the dairy food market in 2023.
Sub segments: Milk, Butter, Natural Cheese, Processed Cheese, Dry Dairy Product, Condensed Dairy Product, Evaporated Dairy Product, Ice Cream: Frozen Dessert
The Internet of Things (IoT) technology is increasingly being used to track dairy products and ensure safe product handling. IoT technology consists of a network of devices, vehicles, or other items that continuously exchange data and provide insights into a process or system. This technology is being used to track ingredients being used in products. Equipment connected to the internet in trucks and storage coolers can be used to monitor dairy products and tag them with environmental conditions like temperature or location that provide information about safe product handling during transportation. For instance, the Chinese government implemented the National Food Quality Safety Traceability Platform, using IoT technology to improve the quality and safety of food production supply chains.
The dairy food market report table of contents includes:
1. Executive Summary
2. Dairy Food Market Characteristics
3. Dairy Food Product/Service Analysis -Product/Service Examples
4. Dairy Food Market Trends And Strategies
5. Dairy Food Market – Macro Economic Scenario
….
68. Global Dairy Food Market Competitive Benchmarking
69. Global Dairy Food Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Dairy Food Market
71. Dairy Food Market Future Outlook and Potential Analysis
72. Appendix
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