4 Key Insights on Dairy Whitener Market
Published : 07 Aug 2017 Industry: Food & Beverage
The global dairy whitener market is poised to grow owing to the positive influence of factors such as rising infant formula and rise in coffee and tea consumption. The infant formula manufacturing uses dairy whiteners on a large scale. Also, the increase in the number of baby births is contributing to the growth of the dairy whiteners market. The dairy whiteners are also referred to as milk powders and are used as an alternative to milk. They have longer shelf life unlike milk, they are portable as well as convenient. They are easy to use and consume and easy to store. There is one restraining factor which could challenge the growth of the dairy whitener market; the fact that some people tend to be more health conscious, they do not risk consuming powder as a substitute for milk and hence could be a restraint to the dairy whitener market growth. Europe is the most attractive and dominant segment as of 2017 and is expected to retain this title till 2022 end. APEJ (Asia-Pacific excluding Japan) region, on the other hand, will be growing at a higher CAGR during the period of forecast.
The global dairy whitener market is poised to reflect a value more than US$ 12,000 Mn by the end of 2022 and is anticipated to grow at a steady CAGR during the forecasted period of 2017 to 2022.
4 Forecast Highlights on Global Dairy Whitener Market
- The modern grocery retail segment by sales channel is expected to show a significant growth rate to register a CAGR of 3.1% during the forecast period. Traditional grocery retail is poised to show steady rate of growth along with the non-grocery retail segment, yet is a shade better than the non-grocery retail segment
- Europe is the most attractive region and it is expected from this region to retain its dominance during the period of 2017 to 2022. APEJ is showing tremendous potential and a significant growth rate to register a CAGR of 3.9% and could come close to Europe in terms of market share by revenue during the year 2022
- Jigger pots and stick packaging segment by packaging type shows higher growth rate and is poised to register a CAGR of 4.3% during the period of forecast 2017-2022. The sachet segment by packaging type, as of 2017, is supposed to dominate in terms of market share but grows at a steady rate. Jigger pots and stick packaging segment has the lowest share by revenue but this figure could change in the future and by 2022, it could increase owing to higher growth rate
- Un-flavored dairy creamer segment is a huge segment by product type and is better in all aspect as compared to flavored dairy creamer segment. The un-flavored dairy creamer segment is poised to reflect a steady growth rate, same as the flavored dairy creamer segment, during the period of forecast but shows a higher market share of almost 64%
The report has also profiled leading players in the global market for dairy whiteners, which would remain active through 2022. These include companies like Schreiber Foods Inc., Arla Foods amba, HATSUN AGRO PRODUCT LTD., Gujarat Cooperative Milk Marketing Federation Ltd., Britannia Industries Limited, Morinaga Milk Industry Co., Ltd., Inner Mongolia Yili Industrial Group Co., Ltd., Danone, Nestlé SA and Fonterra Co-operative Group Limited.