Global Dairy Products Market: Overview
Dairy foods and beverages, being an essential part of our diets, have been witnessing tremendous demand and are expected to continue to do so over the forecast period. As a number of manufacturers have been addressing the needs of the health-conscious populace worldwide, a number of low-fat, lactose-free, and cholesterol-free dairy products have entered the market.
By type of product, the global market for dairy products can be segmented into butter, cheese, milk, cream, yoghurt, buttermilk, ice cream, and lactose-free dairy products.
The report includes a clear, succinct description of the various factors propelling and restraining the growth of the market. The recent technological developments, growth opportunities, and market projections are included in the report. The Porter’s Five Force Analysis has been leveraged to determine the nature of competition among the leading market players. An assessment of the major segments of the market, alongside a detailed understanding of the competitive scenario has been provided in the report.
Global Dairy Products Market: Drivers and Trends
The absence of strict regulatory frameworks and increasing volume of funds from private and public sectors have been stimulating the growth of the global market for dairy products. The flourishing agriculture and animal husbandry industry in several regions of the world has been responsible for the growing production of milk products.
While cow milk is predominantly used in the production of numerous dairy products, buffalo milk is also being used in several countries such as India, Egypt, China, and the Philippines. The rising number of convenience stores, supermarkets, department stores, and hypermarkets across the world has also been promoting the growth of the market.
A plethora of products offered by numerous brands have been flooding the market. For instance, butter is available in a number of forms such as flavored butter, spreadable or whipped butter, butter blends, European-style sticks, American-style sticks, and non-dairy alternatives. New products are arriving in the market every day. For instance, in April 2017, Tillamook County Creamery Association launched an entirely new cheddar cheese product to its Farmstyle Cut line range of products.
Global Dairy Products Market: Regional Outlook
Asia Pacific commands the largest share in the global market for dairy products, driven by easy availability of raw materials, presence of animal husbandry as one of the key industries, and growing consumer base. North America might register moderate to sluggish growth rate during the oncoming years, thanks to the declining domestic demand for dairy products and the preference for dairy substitutes.
India, termed the ‘oyster’ of the global dairy industry, is perhaps the largest dairy product producer on a global scale. It is expected to hold a major share in the global market for dairy products. Dairy products such as buttermilk, butter, ghee, paneer (cottage cheese), dahi (yoghurt), lassi, and milk-based sweets are a part of the rich culinary tradition of India and are therefore consumed on a regular basis. China, Indonesia, Malaysia, Bangladesh, and Thailand are also displaying growing demand for dairy products.
Latin America is likely to register high growth rate. It houses Brazil, the world’s second-largest dairy herd after India. Argentina, Peru, Venezuela, Uruguay, and Mexico are also slated for considerable growth.
Companies mentioned in the research report
Several players have been leveling up their presence in the market via product innovations. New players are also initiating product offerings. For instance, PepsiCo India disclosed its plans of entering the Indian dairy market in May 2017.
Arla Foods UK Plc., Nestle SA, Amul, Fonterra Group Cooperative Limited, Dairy Farmers of America Inc., Kraft Foods, Inc., Megmilk Snow Brand Co. Ltd., Danone, Parmalat S.P.A, Meiji Dairies Corp., Dean Foods Company, Sancor Cooperativas Unidas Limited, Unilever N, Parmalat S.P.A, Royal FrieslandCampina N.V., and Groupe Lactalis SA are some of the leading companies operating in the global market for dairy products.
Key Segments of the Global Dairy Products Market
Global Dairy Products Market, by Type
- Ice cream
- Lactose free milk
- Cream and frozen
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.