The Latin America, Middle East and Africa Dairy Products Market would witness market growth of 5.7% CAGR during the forecast period (2021-2027). Majorly, the global population is classified into two food consumer groups; one is vegetarian and the other is non-vegetarian.
However, people are worried about the consumption of non-vegetarian food items due to the awareness and hence, motivated people to shift towards the consumption of vegetarian and dairy food products. These dairy products have a wide range of products like cheese, ice cream, lactose-free milk, butter, yoghurt, cream, buttermilk, frozen desserts and many more.
Companies operating in this market are focusing on introducing variations in different products like cheese, ice cream, frozen dessert and yoghurt. These variations are gaining more traction among the population due to their great taste and innovative packaging. The increasing demand for these products in developing nations and the higher feed prices at dairy farms have contributed to the fluctuating prices of milk, along with that, the economic downturn has fueled the demand for greater margin dairy products. However, in the past few years, economic recovery has strengthened the demand for dairy products.
The introduction of various innovative yoghurt products like fat-free yoghurt, flavoured and drinkable yoghurt, is anticipated to open new growth avenues for the manufacturers of the market. Along with this, various innovations in packaging like small portion size, on-the-go packs and single-serve packs will also encourage people to consume dairy products, hence creating growth opportunities for the market players.
The Milk market dominated the South Africa Dairy Products Market by Product Type in 2020, thereby, achieving a market value of $3,098.5 Million by 2027. The Yogurt market is expected to witness a CAGR of 6.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Dairy Products Market is Predict to reach $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).
By Product Type
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