Beyond Market Insights has released its latest comprehensive report, Dairy Products Market Size, Share, Growth, Trends Analysis & Forecast 2024–2034, providing key insights into the evolving dynamics of the global dairy industry. Valued at USD 531.75 billion in 2024, the dairy products market is expected to reach USD 694.82 billion by 2032, growing at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2032.
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Market Growth Drivers
The report highlights the key factors driving market growth, including:
- Increasing Protein Consumption: Growing awareness of the health benefits of dairy as a protein source is fueling demand globally.
- Shifting Consumer Preferences: Consumers are increasingly opting for dairy over meat as a primary source of protein.
- Cold Chain Advancements: Innovations in cold chain logistics, particularly in emerging markets like China and India, are improving the distribution of dairy products, and supporting market expansion.
Key Product Segments
- Milk: Expected to continue dominating the market, milk accounted for the largest share in 2023 due to its high nutritional value, particularly in developing countries.
- Yogurt: Projected to experience significant growth, particularly in markets such as China and India, where consumers prioritize gut health and immunity.
- Cheese: Anticipated to register the fastest growth, driven by increasing demand in the Asia-Pacific region as western food habits become more popular.
Distribution Channels
- Supermarkets/Hypermarkets: Accounting for over 61% of sales in 2023, supermarkets and hypermarkets remain the leading distribution channels due to their extensive product offerings and controlled temperature environments.
- Online Sales: Expected to grow at the fastest CAGR over the forecast period, online distribution is gaining traction due to its convenience and the increasing use of e-commerce platforms by consumers globally.
Regional Insights
- Europe: With a market share of 32.5% in 2023, Europe remains the leading region in dairy product consumption, driven by the high demand for cheese and yogurt in countries like Germany.
- Asia-Pacific: Anticipated to be the fastest-growing regional market, with countries like India and China seeing increasing demand for value-added dairy products like yogurt and cheese.
- North America: Significant consumption of cheese and milk in the U.S. continues to contribute to the region’s steady market growth.
Key Players
Major companies profiled in the report include:
- Arla Foods amba
- Fonterra Co-operative Group
- GCMMF (Amul)
- The Kraft Heinz Company
- Nestlé S.A.
- Danone S.A.
- Royal FrieslandCampina
- Dairy Farmers of America, Inc.
- DMK Group
- Meiji Holdings Co., Ltd.
These companies are focusing on product innovation, sustainable packaging, and expanding their geographic presence to maintain a competitive edge in the market.
Customization and Purchase Options
Beyond Market Insights offers tailored purchase options to meet specific research needs. The report includes detailed analysis and forecasts at the global, regional, and country levels, with a focus on trends, growth factors, and competitive dynamics in the dairy products market.
For further details or to purchase the full report, visit https://beyondmarketinsights.com/buy-now/6265 or contact us at sales@beyondmarketinsights.com.
About Beyond Market Insights
Beyond Market Insights is a leading provider of syndicated research reports, customized market research, and consulting services, specializing in industries such as food and beverages, healthcare, technology, and more. With a commitment to delivering actionable insights, Beyond Market Insights helps businesses make data-driven decisions to fuel growth and innovation.
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Nina Ramirez
Business Development Manager
Beyond Market Insights
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nina@beyondmarketinsights.com
https://beyondmarketinsights.com/
