by The Dairy Nutrition Market is estimated to be valued at US$ 15.73 Billion in 2022 and is expected to exhibit a CAGR of 7.92% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Dairy Nutrition Market encompasses a wide range of products such as milk, cheese, yogurt, and butter that provide essential nutrients and promote good health. These products are rich in calcium, protein, vitamins, and minerals, which contribute to the growth and development of the body. The increasing awareness about the health benefits of dairy nutrition among consumers is driving the demand for these products. Additionally, the growing popularity of functional dairy products, such as probiotic yogurt and lactose-free milk, is further boosting market growth.
Market Dynamics:
The growth of the Dairy Nutrition Market is primarily driven by the increasing demand for nutritional dairy products. Consumers are becoming more health-conscious and are actively seeking dairy products that offer a well-balanced diet. The shifting dietary preferences and the rising disposable incomes of individuals are propelling the market growth. Furthermore, the opportunity of rising health consciousness among consumers is expected to drive the market growth in the forecast period. The inclusion of dairy nutrition in various food and beverage products is also contributing to the market expansion.
Segment Analysis:
The dairy nutrition market comprises several segments, including milk, cheese, yogurt, butter, and others. Among these segments, milk dominates the market due to its widespread consumption and multiple applications in various dairy products. Milk is a versatile product that is used for direct consumption, as an ingredient in various food and beverages, and in the manufacturing of dairy-based products. Its popularity can be attributed to its high nutritional value, including vitamins, minerals, proteins, and fats.
PEST Analysis:
Political: The dairy nutrition market is influenced by government regulations and policies related to food safety, labeling, and import/export restrictions. Political stability and trade agreements between countries also affect the market dynamics.
Economic: Economic factors such as income levels, consumer spending patterns, and inflation rates impact the purchasing power and demand for dairy nutrition products. Economic growth and urbanization drive the demand for high-quality and value-added dairy products.
Social: Changing consumer preferences, dietary habits, and health consciousness play a significant role in shaping the demand for dairy nutrition products. Growing awareness about the health benefits of dairy products, the adoption of vegetarian and vegan diets, and rising lactose intolerance contribute to market trends.
Technological: Technological advancements in dairy processing, packaging, and storage techniques improve the quality, shelf life, and safety of dairy nutrition products. Automation and innovation in dairy farming practices also influence the market.
Key Takeaways:
The global Dairy Nutrition Market Share is expected to witness high growth, exhibiting a CAGR of 7.92% over the forecast period, due to increasing consumer awareness about the health benefits of dairy products, rising disposable income, and changing dietary preferences. The market is dominated by the Asia-Pacific region, which is experiencing rapid urbanization, population growth, and a shift towards Western dietary patterns. North America and Europe are also prominent markets, driven by product innovation, technological advancements, and the presence of key players. Groupe Danone, Fonterra Co-operative Group Ltd., Proliant Inc., Koninklijke DSM N.V., E.I. DuPont De Nemours and Company, Arla Foods amba, Cargill Inc., Groupe Lactalis S.A., APS BioGroup, and Nestle S.A. are some of the key players operating in the dairy nutrition market. These players focus on product development, strategic collaborations, and mergers and acquisitions to gain a competitive edge in the market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
