The Asia Pacific Dairy Products Market would witness market growth of 6% CAGR during the forecast period (2021-2027). Dairy products are among the essential commodities and are highly nutritious. Doctors suggest consuming several dairy products like milk and cheese on the daily basis to fulfil the calcium and protein requirement of the human body. In addition, dairy products offer several health benefits to the people like vitamin A, vitamin D, and many more.
Apart from this, dairy products are also a rich source of many micronutrients that are essential to maintain a healthy body. Additionally, the increasing disposable income of the population across the world is increasing their purchasing power to spend on these products. Thus, the demand for dairy products is also increasing as people are introducing dairy products in their daily diet. It further opens new growth avenues for the market during the forecast period.
The dairy products market has many organizations that operate by selling milk, cheese and butter products. Several key players in the dairy product market manufacture dairy products like cream, pasteurized milk, yoghurt, condensed and evaporated milk. Some of the manufacturers also manufacture certain substitutes of dairy products like soya milk and other non-dairy components. The uncertainty in the prices of raw milk and economic recession makes the dairy products market more volatile. However, the dairy products market is among the dynamic markets across the world and it is rapidly expanding in most of the regions with exponential success rate.
The Supermarkets/Hypermarkets market dominated the Malaysia Dairy Products Market by Distribution Channel in 2020, thereby, achieving a market value of $6,561.2 Million by 2027, growing at a CAGR of 6 % during the forecast period. The Convenience stores market is expected to witness a CAGR of 5.9% during (2021 - 2027).
Based on Product Type, the market is segmented into Milk, Yogurt, Cheese, Butter and Other Products. Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience stores, Online and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Dairy Products Market is Projected to reach USD 574.3 Billion by 2027, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Arla Foods Amba, Fonterra Co-operative Group Limited, Amul (The Gujarat Co-operative Milk Marketing Federation Ltd.), The Kraft Heinz Company, Nestle S.A., Danone S.A., Royal Frieslandcampina N.V., Saputo, Inc., Meiji Holdings Co., Ltd., and DMK Group (Deutsches Milchkontor eG).
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