According to a new report Global Dairy Products Market, published by KBV research, The Global Dairy Products Market size is expected to reach $574.3 billion by 2027, rising at a market growth of 4.7% CAGR during the forecast period.
The yoghurt segment would showcase prominent growth rate over the forecast period. It is due to the growing demand for yoghurt in various nations like China, India and Brazil. People in China mostly have yoghurt as a part of their routine diet because it promotes gut health, hence boosts immunity. Additionally, the increasing preference for having mild sweet and flavored yoghurt products in some countries will provide momentum to the growth rate of the global dairy product market.
Based on the distribution channel, the supermarkets/hypermarkets dominated the segment with the highest revenue share in 2020. This growth is attributed to the factors like the increasing number of hypermarkets & Supermarkets and the accessibility of a broad range of products in these stores. Hypermarkets or Supermarkets have shelves with temperature control systems for dairy products that help in eliminating any kind of spoilage to the product.
In 2020, North America is among the major revenue contributor of the global dairy products market. The U.S. dominated the region with the highest revenue share of the regional market owing to the huge consumption of cheese & milk in the country. Moreover, the increasing variety of milk products like no-sugar milk and low-fat milk is estimated to boost the milk consumption in this region.
Asia-Pacific region is projected to be the fastest-growing region in the market over the forecast period. Factors such as increasing demand for packaged and quality dairy products are responsible for the regional growth. In addition, the growth of the online distribution channels in the APAC region is also propelling the market. Specifically, India is anticipated to record the fastest growth rate in the regional market because of the rising demand for dairy products like yoghurt and cheese.
Full Report: https://www.kbvresearch.com/dairy-products-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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