(Entertainment-NewsWire.com, July 25, 2019 ) According to this latest publication from Meticulous Research®, the global dairy products market is expected to grow at a CAGR of 5.2% from 2019 to reach $645.8 billion by 2025. The high growth of dairy products market is mainly attributed to rising population and urbanization, increase in consumer awareness level regarding nutritional food, and growing number of acquisitions in diary space. Moreover, technological developments in the dairy industry and emerging economies indicate the opportunities present in this market. However, growing demand for dairy alternatives and milk allergy and lactose intolerance are expected to hamper the growth of dairy products market to some extent.
The global dairy products market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-by type (milk, cheese, butter, cream, yoghurt, milk powder, desserts, and others), and distribution channel (supermarkets, hypermarkets, discounters, specialty store, online retail, and others). The milk market is further segmented into semi skim milk, whole milk, skim milk, and others; whereas, grocery retailers market is classified into supermarket, hypermarket, discounters, and others. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on product type, dairy products market is divided into milk, cheese, butter, cream, yoghurt, milk powder, desserts, and other dairy products. The milk segment accounted for the largest share of the global dairy products market, as it is the most consumed and marketed dairy product across the globe. Also, the largest share of this product segment is also attributed to the increased production in last two decades and significant improvements in all the unit operations of milk processing.
Based on distribution channel, supermarket commanded the largest share of the global dairy products market. However, internet retailing segment is expected to witness a significant growth during the forecast period mainly attributed to growing omnichannel retailers and increasing digitalization.
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S., Canada, and Mexico), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (China, Japan, India, Australia, and RoAPAC), Latin America, and Middle East & Africa. Europe is estimated to command the largest share of the global dairy products market in 2019, followed by Asia-Pacific. The large share of this region is mainly attributed to high per capita consumption, strong dairy culture, increased new product launches, and better trade landscape at the global level. However, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period, mainly due to huge milk production and promotion by the government and dairy industry for the milk processing; rising population; increasing consumer disposable income; growing foreign investment; increasing demand for western dairy products such as yogurt, sour milk, etc.; rising number of convenience stores, supermarkets, department stores, and hypermarkets; and technological advancements in dairy processing.
