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The dairy sector is a dynamic global industry with significant number of producers’ directly dependent on it for their sustenance. It also actively contributes to the economies of different countries. The dairy industry is increasingly getting globalized in line with other processed food products. The processed dairy products are expected to contribute to global food security, especially in the countries of Asia and Africa. The population dynamics of the global marketplace stands highly inclined in favor of dairy products consumption.
The global market for processed dairy products is driven by the rising demand for superior, nutritional products amid growing per capita income. The dietary patterns, especially in the emerging economies, are rapidly evolving. With the rise in discretionary spending, processed dairy products are witnessing greater demand worldwide.
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The dairy in incomes and urbanization promotes individual to receive more of their calories from proteins thereby aiding the sales of dairy products. The dairy processing industry has also witnessed rapid advancements in the last decade with the emergence of new techniques, equipment, and machinery producing higher yields in greater production output.
The market for indulgent dairy products such as cheese, butter, frozen dairy desserts has been experiencing promising growth. The rise in popularity of global foodservice brands has further pushed the sales of these products. There has been marked increase in consumer awareness towards the importance of dairy products in a balanced diet and nutrition, this has benefited the sales performance of dairy products in global marketplace. The price fluctuations, contamination and spoilage mishaps and the rising acceptance towards dairy alternatives are impeding the processed dairy products market.
Companies are intensely embarking on innovation to maintain sustainable growth in the processed dairy products market. There has been significant increase in the mergers and acquisition activities with globalized brands seeking rapid consolidation of dairy industry. Modern consumers are increasingly inclined towards receiving protein for its multi-functional attributes. Dairy companies are taking advantage of this trend, by fortifying their products with protein.
Some of the major companies that are present in the global processed dairy products market include Agropur Cooperative, Danone, Fonterra Co-Operative Group Limited, Groupe Lactalis S.A., Royal FrieslandCampina N.V., Gujarat Cooperative Milk Marketing Federation Ltd., Arla Foods, and Airy Farmers of America Inc.
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The fluid milk remains a dominant category within the processed dairy products market, the sales of liquid milk has however suffered a huge setback amid growing emergence of plant-based dairy alternative offerings. The indulgent segment within the processed dairy products are responsible for the sustainable growth of the industry. The declines in total milk consumption at global level have been offset by the robust increases in the sales of cheese and ice cream.
The global processed dairy products market has also evolved with the growing consumers’ inclination towards nutraceuticals offerings. Cultured dairy products such as fortified yogurt are expected to grow exponentially driven by robust consumer’s demand. Dairy processors are now launching products with premium and simple ingredients, often inconvenient and single-serve formats.
Mass merchandisers remain a preferable retail platform for the majority of the consumers for purchasing processed dairy products. They hold an inherent advantage in terms of wide variety of product portfolio, bundling discount strategies and convenient retail shelves offering distinct products as per the convenience of the consumers.
The global dairy products market is witnessing a gradual growth phase from the last three years, the global slump of dairy products is attributed to significant import reduction by China and Russia, robust production scenario in European Union nations after the quotas were abolished and disruptive economic conditions of crude-oil exporter nations.
The developed markets of North America and Western Europe are exhibiting mature-stage markets in life-cycle terms, however, the substantial growth projection is expected from the markets of Asia Pacific, South America, and Africa. The animal husbandry sector in these emerging markets is facilitating in the abundant availability of fluid milk for processing purpose.
The developed markets for processed dairy products are expected to gain from the ingredient-level innovation, the functional offerings within the dairy sector is touted to gain significantly from consumers’ demand for healthy, safe and clean-label products.
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