Dairy Product Market Overview:
Dairy products are made from the milk of farm animals such as cattle, sheep, buffaloes, and goats. These are divided into various products such as cheese, butter, cream, and so on. Pasteurization is used to produce milk. Milk comes in a variety of forms, including scalded, condensed, evaporated, baked, and powdered milk. Buttermilk, infant formula, and khoa are some other options (a form of milk used in Indian cuisines). The consumption of dairy products varies by country. The countries that consume the most dairy products typically consume 150 kg per capita per year. Argentina, Australia, Israel, Kyrgyzstan, and other countries are among them. Mexico, Mongolia, Japan, and New Zealand are examples of countries with medium consumption levels. More than 150 million farm-based households contribute to the overall dairy industry.
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Dairy Product Market Scope:
The increased consumption of dairy products around the world, as well as changing consumer preferences from regular meat to dairy products for their daily protein intake, are major drivers in the dairy product market. Furthermore, the bakery and confectionery markets are expected to drive the dairy product market during the forecast period (2022-2029). Because milk is the most common ingredient in bakery products.
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Dairy Product Market Segmentation:
In 2021, the food and beverages segment dominated the dairy product market by application. Milk is a key ingredient in many beverages, so this market dominance makes sense. Another factor driving the growth of this segment is the diseases caused by a lack of regular milk. These diseases include bone diseases such as osteoporosis and hypocalcaemia (deficiency of calcium).
In 2021, the bakery product segment was worth US$ 330 billion. These include items such as cakes and pastries. These bakeries require milk daily to produce their goods. This evergreen demand for milk in Bakery and Confectionery products is expected to drive segment growth during the forecast period.
Dairy Product Market Key Players:
- Fonterra Co-operative Group
- GCMMF
- The Kraft Heinz Company
- Nestle S.A.
- Danone S.A.
- Royal FrieslandCampina
- Dairy Farmers of America, Inc.
- DMK Group
- Meiji Holdings Co., Ltd.
- Lactalis
- Dean Foods Company
- Sancor Cooperativas Unidas Limited
Dairy Product Market Regional Analysis:
Some of the key countries covered in the Dairy Product market report include North America, the United States, Canada, Mexico, Europe, the United Kingdom, Germany, France, Spain, Italy, the Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, the Rest of APAC, South America, Brazil, and the Middle East and Africa. In addition, the report provides market size, growth rate, import and export, and country-level analysis, integrating the demand and supply forces of these countries’ Dairy Product markets that are influencing market growth.
COVID-19 Impact Analysis on Dairy Product Market:
The report has analysed overall global impact of COVID-19 on Dairy Product market. The report offers a thorough examination of the Dairy Product market’s alternatives, challenging conditions, and difficult possibilities during this crisis. The report briefly discusses the benefits and challenges of the COVID-19 in terms of funding and market expansion. Furthermore, the study includes a collection of concepts that should assist readers in establishing and planning a corporate strategy.
In majority of the countries surveyed, public health has improved, particularly as COVID-19 immunisation campaigns have made significant headway. Supply-chain constraints and rising inflation are the two most pressing economic issues. Fortunately, reports forecasted that these problems will be temporary.
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