Global Dairy Products Market Projected to Reach $658.7 million by 2025

Global Dairy Products Market Projected to Reach $658.7 million by 2025

According to this latest publication from Data N Analysis, the global dairy products market size was $408.6 billion in 2018, and is projected to reach $658.7 million by 2025, growing at a CAGR of 5.9% from 2019 to 2025. New products and innovations, increasing population along with urbanization, increase in consumer awareness level regarding nutritional food, and growing number of acquisitions in dairy processing industry have fueled the growth of the global dairy products market. Conversely, milk allergy and lactose intolerance has hindered the growth of this market to some extent.
The global dairy products market study presents historical market data in terms of values (2017 and 2018), projected current data (2019), and forecasts for 2025- by type (milk, cheese, butter, cream, dessert, milk powder, yogurt, and others), distribution channel (supermarket, discounters, specialty stores,     hypermarket, online retail, and others). The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of type, food & beverages segment accounted for the major share of the global dairy products market in 2018. The large share of this segment mainly attributed to its increased production as well as consumption across the globe and significant improvements in all the unit operations of the milk processing. However, cheese is expected to grow at the highest CAGR during the forecast period.
On the basis of distribution channel, supermarket held the largest share of the global dairy products market in 2018. The large share of this segment is mainly attributed to its advantages over other distribution channels, such as one-stop shopping for consumers; a comfortable and environment; and much wider selection of household items along with dairy products.
On the basis of geography, Europe held the major share in global dairy products market in 2018, and is expected to remain dominant throughout the forecast period. The huge share of this market is attributed to huge technological advancement in milk processing; increased sales of yogurt, cheese, sour milk, etc.; and rising number of convenience stores and supermarkets.
Key players include in dairy products market are Dean Foods Company, Saputo Inc., Inner Mongolia Yili Industrial Group Co Ltd, Fonterra Co-operative Group Limited, Royal Friesland Campina N.V., Kraft Heinz Company, Nestle S.A., Danone S.A., Arla Foods amba, Megmilk Snow Brand Co., Ltd. Unilever N.V., Parmalat S.p.A., China Mengniu Dairy Co., Ltd., SODIAAL, and Dairy Farmers of America Inc.