Dairy Food Market Size, Key Drivers, Growth, Demand, Analysis 2024-2033

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Overview and Scope

Dairy products are foods that are made from milk. Dairy has been linked to improved heart and bone health. Dairy products are high in protein, calcium, and vitamins.

Sizing and Forecast

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.

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Segmentation & Regional Insights

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

Sub segments: Milk, Butter, Natural Cheese, Processed Cheese, Dry Dairy Product, Condensed Dairy Product, Evaporated Dairy Product, Ice Cream: Frozen Dessert

Asia-Pacific was the largest region in the dairy food market in 2023. Western Europe was the second-largest region in the dairy food market. The regions covered in the dairy food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

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.

Key Industry Players

Major companies operating in the dairy food market report are Groupe Lactalis S.A., Danone S.A., Fonterra Co-operative Group Limited, Inner Mongolia Yili Industrial Group Co., Ltd., Nestle S.A., Saputo Inc, Arla Foods amba, Dairy Farmers of America, The Kraft Heinz Company, Amul, Pacific Dairy, China Mengniu Dairy Company Limited, Milk Powder Co.Ltd, China Shengmu Organic Milk Limited, Mother Dairy, Kwality Limited, Dynamix Dairy, AAVIN, MILMA, Dudhsagar Dairy, Bates Dairy, Müller UK & Ireland, Dairy Crest, Meadow Foods, Dale Farm, Yeo Valley, Glanbia Cheese, Lactalis International, Kompaniya Pavlov, Olam, Rusmolco, CLAL, Siemens Dairy industry, Gabrovo Milk Ltd., JOSSI Ltd., Kondov Ecoproductia, Sofia, Agropur Cooperative, Schreiber Foods, Kraft Heinz Co., ConAgra Brands, Prairie Farms Dairy Inc., California Dairies Inc., Italac, Piracanjuba, La Serenísima, Colun, Ilolay, Sunopta In, The Hain Celestial Group Inc, Earth’s Own Food Company, Eden Foods, Inc, Nada Dairy, Nadec, Saudia Dairy and Foodstuff Company, Ornua, Danya Foods Ltd, Al Amoudi Group, Almarai, Freisland, Pinar Dairy Food Co, Tara Dairy, Bandini Cheese (Pty) Ltd., Clover SA (Pty) Ltd., Coega Dairy (Pty) Ltd., Douglasdale Dairy (Pty) Ltd., Dewfresh (Pty) Ltd.

The dairy food market report table of contents includes: