Published: Mar, 2017
The global dairy blends market is dominated by five players, namely Doehler Group, Agropur Ingredients, Fonterra Cooperative Group Ltd., Friesland Campina, and Kerry Group. In 2015 they collectively held 67.88% share in the overall market. They have managed to retain their position by strengthening their presence in several emerging economies and expanding their product portfolio. Cargill Inc., Galloway Company Inc., Royal Friesland Campina N.V., Intermix Australia Pty Limited, Advanced Food Products LLC, and Cape Food Ingredients are other prominent players operating in the market.
As children form an important target audience for the global dairy blends market, companies should focus on developing nutritional food items for them. In addition, many companies are also taking the route of mergers and acquisitions to stay ahead of the curve. Recently, Orkla Food Ingredients (OFI), a Norway-based company acquired 100% shares of Laan Heiloo B.V., a sales and distribution company in the Netherlands. Orkla Food Ingredients holds a dominant position in the Netherlands soft-serve ice cream market and through recent acquisition, the company will have a strong footing in the gelato segment as well.
According to the TMR report, the global diary blends market is projected to be valued at around US$4.59 mn by the end of 2024 from its initial value of US$2.15 mn in 2015, and is anticipated to grow at an impressive CAGR of 9.0% during the forecast period of 2016 to 2024.
High Nutritional Value Food in Europe to Gain Prominence
Geographically, the global dairy blends market is segment into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe is expected to lead the market during the forecast period due to greater consumer awareness about food with proper nutrition. Consumer preference for low-calorie and low-fat foods will drive the market in this region. Asia Pacific is another lucrative market for dairy blends due its large population base and the market is expected to grow exponentially over the forecast period.
In terms of application, the bakery segment is known to largely contribute to the market and is projected to further grow during the forecast period due to increasing popularity of confectionary items among consumers. The infant formula application segment is also pegged to gain traction as a large number of working mothers will opt for it.
Healthy Lifestyle to Boost Demand for Dairy Blends
The global demand for dairy blends is fast gaining prominence due to high prices of traditional dairy products and growing demand for convenience foods. As more and more consumers are getting health conscious, dairy blends are proving for the unmet nutritional needs. They are known to offer health benefits and protect from infectious diseases. The market is further driven by the rising consumption of convenience foods. Busy lifestyle is drawing people towards time-saving foods, hence the demand for dairy blends is augmenting. Moreover, dairy blends can be used with other ingredients like cocoa powder, sugar, butter, dextrin and vegetable fats, thereby supplementing the market growth.
On the contrary, lack of awareness in regards to the health benefits of dairy blends is the primary factor acting as a hindrance for the market growth. Not many consumers know that gastrointestinal problems, diabetes, and obesity can be resolved to an extent with consumption of dairy blends, thus abstaining the market from developing further.
This review is based on the findings of a TMR report titled ‘Dairy Blends Market (Form - Liquid, Spreadable, and Powder; Application - Infant Formula, Bakery, Beverage, Ice cream, Pharmaceutical Lactose, and Butter and Cheese Blends) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.’
Global Dairy blends Market, by Forms
Global Dairy blends Market, by Application
- Infant Formula
- Ice cream
- Pharmaceutical Lactose
- Butter and Cheese Blends
Global Dairy Blends Market, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453