Global Fermented Dairy Products Market: Market Outlook
Fermented dairy products are the products that can be achieved through controlled microbial growth and enzymatic conversion of food components. The process of fermentation includes the conversion of part of lactose from the milk into lactic acid. The bacteria used in this process are harmless, acidifying, and are non-toxic producing organisms. The different dairy products that are available in the market are cultured buttermilk, yogurt, kefir, cultured cream, koumiss, and many others. They can be collectively called fermented milk too. The shelf life for different fermented dairy products can vary from 15 days up to 6 months under refrigeration.
The fermented dairy products are easily available in stores in ready to eat form thus serving the demands of customers for convenience. The fermented foods stored in the supermarkets are processed differently from the traditional method to increase their shelf life. So some people may go through certain side effects such as increased gas and bloating due to the consumption of fermented dairy products which may restrain the growth of fermented dairy products.
Global Fermented Dairy Products Market: Market Dynamics
Better health results driving the sales of fermented dairy products
Consumption of fermented dairy products helps to maintain proper organisms' balance in the human body. Lactic acid is produced by a group of bacteria which are found in the fermented dairy product such as yogurt and other foods that have been fermented. This is responsible for the improved health of intestinal tracts. There is an increased awareness among the people about digestive disorders such as bloating, diarrhea, and abdominal cramps caused due to lactose intolerance. The presence of lactic acid in the fermented dairy products are beneficial over these digestive disorders. This makes fermented dairy products an essential part of every individual's daily diet thereby increasing the demand for fermented dairy products. Change in lifestyle, and increased purchasing capability are the other factors that lead to an increase in demand for fermented dairy products.
Manufacturers offering variety of fermented food products leading to the growth in sales
There are a variety of fermented food products such as cultured milk, sour cream, yogurt, kefir, koumiss, acidophilus milk, misti doi, shrikhand, amrakhand, lassi, and many others. These are easily available in stores in ready to eat form. They can be used as spreads, quick dips, thicken sauces. They are also a major component used in Mexican foods like nachos, tacos, and enchiladas. They are available in forms or refreshing drinks in different tastes. They are packed in polythene pouches, polypropylene glass shaped cups, PET bottles, and tetra pak which makes them easy to carry and store them for a longer period. This variety that is offered to the customers by the manufacturers grabs the customer’s attention towards the fermented dairy products and increases its demand.
Global Fermented Dairy Products Market: Segmentation
Based on the type, fermented dairy products market can be segmented into
- Sugar added yogurt
- Sugar free yogurt
- Natural cheese
- Processed cheese
- Sour Cream
Based on the distribution channel, fermented dairy products market can be segmented into
- Online stores
- Specialty stores
Based on end-uses, the fermented dairy products market can be segmented into
- Food Processing Industry
- Foodservice Industry
Based on the region, fermented dairy products market can be segmented into
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Global Fermented Dairy Products Market: Key Players
Key manufacturers in the fermented dairy products market are, Koninklijke DSM, The Tatua Cooperative Dairy Company, Arla Foods Ingredients Group, Socius Ingredients, E. I. du Pont de Nemours and Company, Cargill Incorporated, Chr. Hansen Holding, Dairy Connection, Novozymes, Kerry, Bioprox, Ingredion Incorporated, Archer Daniels Midland Company, CSK Food Enrichment, Lake International Technologies, DairyChem, Epi Ingredients, CP Ingredients, and Corbion, and others.
Global Fermented Dairy Products Market: Market Opportunities
With a rapid change in the lifestyle and increased awareness about the digestive disorders, the key players in the fermented dairy products market will be getting a higher possible chance in the global fermented dairy products market. The customers look forward to a wide range of products that are easily available and are pocket friendly. The manufacturers are offering a wide range of fermented dairy products at very cheap rates. The increase in purchasing capacity and the variations in the type and taste of products will create a better chance of opportunity for the key players.
Global Fermented Dairy Products Market: Regional Outlook
The huge dairy sector and the increasing customer base in Europe seem to make Europe the highest market holder in the fermented dairy products market, whereas the growth rate in the Asia Pacific is found to be the highest in the forecast period. The reason behind this can be the increasing applications of fermented dairy products in particular food items.
COVID-19 Impact on global Fermented Dairy Products Market
Covid-19 has affected the global economy to a very great extent which has also affected the food and beverage industry to a certain extent. The food industry has been affected due to the closure of various production plants and outlets. The supply chain is broken and there is a scarcity of raw materials seen in the fermented dairy products market. However, the manufacturing units have returned to their production with reduced production capacity. The fermented dairy products market is expected to face a moderate impact due to Covid-19 in the near term.
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.