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Dairy Foods Market Size, Share & COVID-19 Impact Analysis, By Source (Cattle, Sheep, Goat, and Camel), By Type (Lactose and Lactose-free), Product Type (Milk, Cheese, Butter, Dessert, Yogurt, and Others), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI103890

 

KEY MARKET INSIGHTS

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The global dairy foods market size was USD 686.18 billion in 2019 and is projected to reach USD 964.18 billion by 2027, exhibiting a CAGR of 4.6% during the forecast period.

COVID-19 Cover

This report covers COVID-19 impact analysis on Dairy Foods Market

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The global market of dairy foods is witnessing progressive growth owing to the rising demand for a wide range of dairy products and milk in the application of various food products. Emerging trends such as healthy snacking, healthy hydration, and protein-rich diets have contributed to the growing demand for healthy dairy products such as yogurt, cheese, and whey proteins. The rapidly evolving food and foodservice industry with novel preparations is expected to further increase the demand for milk and other products such as ice creams, frozen desserts, and flavored dairy beverages.


Demand & Supply Imbalance of Dairy Products to Impede Market during COVID-19 Pandemic


The dairy industry has experienced a sudden disruption amid the outbreak of the COVID-19 pandemic due to the major shift in demand dynamics. The nationwide lockdowns have also hindered the foodservice and hospitality industry, which has significantly reduced the demand for milk and other dairy products. The weakening demand for higher-value products is expected to lessen the prices for cheese and butter. However, the increasing purchase of low-cost dairy foods such as milk powder and lactose-based milk will support in stabilizing the market in the time of coronavirus. The re-establishment of the foodservice industry and renewed dairy processing capabilities in the coming days can help the dairy foods industry amid coronavirus.


LATEST TRENDS


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Emerging Trend towards Clean-label Dairy Products to Benefit Industry


The trend of healthy eating has increased the demand for clean and natural food products that are free from artificial ingredients. Clean-label dairy products are gaining popularity among consumers on account of their healthier and safer counterparts. Organic dairy food and milk products are moving mainstream as conventional milk is now associated with chemicals & pesticides that are harmful to health. The growing popularity of the keto diet for weight management purposes has also increased the demand for producing dairy products such as grass-fed butter. The rising inclination towards enhanced food quality and chemical-free food products among consumers is expected to further increase the demand for clean-label such as GMO-free and organic milk and dairy products.


DRIVING FACTORS


Increasing Demand for Value Added Dairy Products to Propel the Growth of the Market              


The dairy industry is flourishing across the globe with developments and innovations bringing novel dairy products on the retail platform. Constantly evolving consumer lifestyles with their rising flexible incomes have increased the demand for value-added dairy products such as cheese, butter, creams, and yogurts among consumers. The rising awareness regarding gut health will fuel demand for yogurt, kefir, and other fermented dairy products. The rapid expansion of the foodservice industry has urged leading dairy processors to develop innovative products such as cheese powder and dairy creamers to cater to the needs of the customers.


Rising Emphasis on Dairy Proteins to Aid Business Development


The emerging trend of various protein-enriched diets for weight management and overall maintenance of health fuels the demand for dairy-based products. Dairy products are associated with complete and wholesome amino acid profiles, improving overall health and immunity. According to USDA, 100g of any dairy product comprises 1.6g of dairy protein such as casein. The increasing population following a vegetarian diet also fuels the demand for dairy proteins to compensate for the requirement of proteins in the diet. The increasing promotional activities of whey and casein protein-based products in fitness centers further drive the growth of the dairy protein processing industry. Developments of innovative products such as protein-rich dairy beverages that cater to the growing demand for on-the-go nutrition are expected to propel the market growth in the foreseeable future. Significant demand for flavorful ice-creams among children will offer an impetus to the market. In June 2020, Food Union launched 100 varieties of ice creams targeting audiences across Europe. These ice creams claimed to have nutritional benefits, unlike the other dessert brands.


RESTRAINING FACTORS


Rising Popularity of Plant-based Dairy Alternatives to Impede the Growth of the Market


The growing awareness regarding animal welfare has increased the demand for plant-based foods among consumers. Plant-based dairy alternatives are rapidly moving into the mainstream retail market. The growing perception that plant-based products are healthier and safer drives the demand for these dairy alternatives such as soy milk and almond milk-based products. The increasing prevalence of lactose intolerance also increases the demand for dairy alternatives. The rapidly developing dairy alternatives industry with new product innovations such as non-dairy ice-creams, cheese analogs, and whipped creams is expected to hamper the growth of the global market.


According to the Plant-based Foods Association, the U.S. retail sales of the plant-based food products grew at a rate of 11% from 2018-2019.


SEGMENTATION


By Source Analysis


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Cattle Milk Holds the Major Market Share Attributed to its Wider Availability


Based on the source, the segment includes cattle, sheep, goat, and camel. The ample availability of cattle milk as compared to other sources primarily drives the segmental growth. The better acceptance of the organoleptic properties of cattle milk by consumers also contributes to market growth. Furthermore, the quantity of milk produced by cattle is higher as compared to sheep, goat & camel, which fuels the growth of the cattle milk segment.


The rising trend of consuming healthier milk products drives the demand for sheep & goat milk owing to their higher vitamin content and lower fat content.


By Type Analysis


Lactose Containing Milk & Dairy Products Exhibit Robust Growth owing to their Easier Processing


The strong growth of lactose-containing milk and dairy products is primarily attributed to its wide availability and uncomplicated processing methods. The low-cost of the further processing of lactose-containing milk drive the segment’s growth. Lactose is the most important source of energy in milk, which also drives the demand for lactose-containing milk dairy products. On the other hand, consumers nowadays associate lactose with the risk of various chronic diseases, resulting in an increased demand for lactose-free milk & dairy products. The growing prevalence of lactose intolerance is expected to fuel the growth of lactose-free dairy products.


By Product Type Analysis


Milk Exhibits Promising Growth Attributed to its Extensive Application in a Range of Products


On the basis of product type, milk exhibits strong sales performance owing to its extensive utilization and application in a range of dairy & other food products. The growing demand for value-added dairy products such as cheese, butter, whipped cream, ice cream, and yogurt propels the growth of the segment. The expansion of the food industry across the globe has contributed to the increased utilization of milk in various food products such as bakery, beverages & desserts. In recent years, the demand for milk powders has increased significantly due to the flourishing food service industry across the world. The growing popularity of on-the-go beverages is expected to drive the growth of flavored milk beverages in the foreseeable years.


By Distribution Channel Analysis


Wider Availability of Products & Freedom to Purchase Promote Sales Growth through Supermarket/ Hypermarket


The supermarket/ hypermarket industry is continuously changing and the investors are capitalizing on buyers’ comforts to offer an easy shopping experience. According to the Food Industry Association 2018, 43% of total grocery in 2017 was sold through supermarkets/hypermarkets, which represents a major share of dairy sales every year. Supermarkets are also emphasizing meeting new regulatory requirements such as refrigerant leaks, quality assurance to avoid penalties through the Environmental Protection Agency (EPA) and to offer quality products to its consumers.


REGIONAL INSIGHTS


North America Dairy Foods Market Size, 2019 (USD Billion)

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Europe remains to hold the largest dairy foods market share owing to the growing demand for clean-label and sustainable milk and dairy products. In the past few years, consumer preferences have shifted towards buying healthier, safer, and natural products. The increasing demand for organic, non-GMO, lactose-free, and non-fat milk and dairy products are expected to propel the growth of the market in forthcoming years.


North America is expected to showcase a dramatic shift in the per capita consumption of dairy foods. This is owing to the change in consumer diet preferences such as shifting towards plant-based food products. Manufacturers are creating necessary awareness among the consumers about the benefits of animal-based dairy products, which are essentially not present in the plant-derived dairy products. In the upcoming years, the consumption of infant formula and whey powder are expected to grow at a significant CAGR. This possibly aids in the growth of the market.


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Asia Pacific market is expected to grow at a significant CAGR due to the presence of the major milk-producing countries such as India in the region. The rising discretionary income of consumers in the region has contributed to the growing demand for dairy products such as cheese, milk powders, ice creams, and flavored yogurts. The leading dairy brands are using strategic promotional activities to increase the sale of milk products such as flavored milk and yogurts. The market growth in the region is also attributed to newly entering small players. The growing awareness of the health benefits of dairy proteins among consumers has necessitated key players to strengthen their processing capabilities and fulfill the growing demand.


KEY INDUSTRY PLAYERS


Fonterra Co-operative Group is focused on Geographical Expansions to Strengthen the Business Capabilities


The leading player is focused on investing in the geographical expansion of its dairy product portfolio to strengthen its global presence. For instance, in January 2018, the company launched a fresh milk product in China with the partnership of Alibaba owned Hema Fresh. The presence of multiple small as well as major players and their extended production and distribution capabilities in the market has resulted in the fragmentation of the market across the globe. Other key players such as Danone S.A., Nestle S.A., and Lactalis International are focusing on new product developments, innovations, and partnerships to strengthen the presence in the market.


LIST OF KEY COMPANIES PROFILED:



  • Fonterra Co-operative Group Limited (Auckland, New Zealand)

  • Royal FrieslandCampina N.V. (Amersfoort, Netherlands)

  • Danone S.A. (Paris, France)

  • Nestle S.A. (Vevey, Switzerland)

  • Dairy Farmers of America, Inc. (Kansas, United States)

  • Lactalis International (Laval, France)

  • Arla Foods Group (Viby, Denmark)

  • DuPont de Nemours, Inc. (Delaware, U.S.)

  • Unilever Plc (London, United Kingdom)

  • The Kraft Heinz Company (Illinois, U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • May 2020 – DuPont de Nemours, Inc. launched a lactose-free dairy enzyme named Bonlacta for the North American market. This product launch helps meet the soaring demand for lactose-free dairy in the region.

  • August 2019 Fonterra Co-operative Group Limited partnered with Future Consumer Limited, India. As a part of this partnership, the company launched four new products under the brand name Dreamery.


REPORT COVERAGE


An Infographic Representation of Dairy Foods Market

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The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading distribution channels of the product. Besides this, the report offers insights into the dairy foods market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market in recent years.


Report Scope & Segmentation:






















































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



  By Source, Type, Product Type, Distribution Channel and Geography



By Product Type


 




  • Milk

    • Powdered Milk

    • Liquid Milk

    • Flavored Milk



  • Cheese

  • Butter

  • Dessert

  • Yogurt

  • Others



By Source


 




  • Cattle

  • Sheep

  • Goat

  • Camel



By Type


 




  • Lactose

  • Lactose-free



By Distribution Channel


 




  • Supermarkets/Hypermarkets

  • Convenience Stores

  • Specialty Stores

  • Online Retail



By Geography


 




  • North America

    • By Product Type

    • By Source

    • By Type

    • By Distribution Channel

    • By Country

      • USA

        • By Type



      • Canada

        • By Type



      • Mexico

        • By Type







  • Europe

    • By Product Type

    • By Source

    • By Type

    • By Distribution Channel

    • By Country

      • Germany

        • By Type



      • France

        • By Type



      • Italy

        • By Type



      • Spain

        • By Type



      • The U.K.

        • By Type



      • Rest of Europe

        • By Type









  • Asia Pacific

    • By Product Type

    • By Source

    • By Type

    • By Distribution Channel

    • By Country

      • China

        • By Type



      • India

        • By Type



      • Japan

        • By Type



      • Australia

        • By Type



      • Rest of Asia Pacific

        • By Type







  • South America

    • By Product Type

    • By Source

    • By Type

    • By Distribution Channel

    • By Country

      • Brazil

        • By Type



      • Argentina

        • By Type



      • Rest of South America

        • By Type







  • Middle East & Africa

    • By Product Type

    • By Source

    • By Type

    • By Distribution Channel

    • By Country

      • South Africa

        • By Type



      • UAE

        • By Type



      • Rest of the Middle East & Africa

        • By Type









Frequently Asked Questions

Fortune Business Insights says that the global market size for dairy foods was USD 686.18 billion in 2019 and is projected to reach USD 964.18 billion by 2027.

In 2019, the North America market value stood at USD 172.47 billion.

Growing at a CAGR of 4.6%, the market will exhibit steady growth in the forecast period (2020-2027).

The milk segment is expected to be the leading segment in this market during the forecast period.

Increased per capita consumption of dairy products is a key driver of the market

Danone S.A., Nestle S.A., and DuPont de Nemours, Inc. are the major players in the market.

Europe dominated the market share in 2019.

High consumption of flavored milk is expected to aid the market growth

Dairy Foods Market Size, Share and Global Industry Trend Forecast till 2026
  • Oct, 2020
  • 2019
  • 2016-2018
  • 160

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