Analysis of Dairy Based Beverages Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Dairy products contain nutrients and fats that are linked to disorders like cardiovascular disease, bone health, and other illnesses. The formation of strong bones requires nutrients like calcium, vitamin D, and phosphorus, and dairy products with high potassium content can help decrease blood pressure.
Nowadays, whey-based drinks and yogurts are preferred by consumers, the reason being their nutritional quantity and contain less amount of fat. Dairy-based beverages are useful in bakeries, confectionaries, and dairy product manufacturing, increasing their overall consumption.
The milk segment is anticipated to cross a valuation of USD 331.80 billion by end of this year 2023. The market is further likely to grow with a CAGR of 6% in the duration of 2023-2027. The average volume of milk consumption is expected to account 30.3Kg per person in 2023.
Dairy Beverages Market is expecting more inclusions of key manufacturers as per the increasing demand for nutritional and healthy intake by consumers. The Leading players in dairy-based beverage industries are finding more effective packaging solutions to increase their growth in various regions such as Asia Pacific, North America, and Europe.
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Health-conscious customers prefer dairy-based beverages with a limited amount of fats and cholesterol, which are also available in a wide range of products. In this era, dairy-based beverages are available in a wide variety of flavors, packets, and other supplements which are beneficial for health as well as cost-effective.
Hence, an increase in consumer awareness is boosting the new product launch and the addition of more supplements to dairy products. Dairy-based beverages, when consumed in an appropriate amount, maintain calcium, vitamin, protein, and other nutrients in the body.
High-quality protein can be found in milk and dairy products. Because it has a strong satiating effect and helps to avoid excessive energy consumption, protein is crucial for weight loss and subsequent weight maintenance because it lowers body fat reserves.
Consumers prefer non-dairy-based beverages with a minimal amount of fats and carbohydrates. Some nutritious alternative for dairy-based beverages is significantly replacing dairy products as they contain a large amount of cholesterol. Soy milk and its products are also an alternative to dairy beverages, hampering its growth. Contamination of dairy-based beverages is very easy through bacteria from animals, utensils used, and insects.
This is a critical factor that could hinder the market, but the preservation of dairy products is also achieved by cooling, fermentation, and heating among various other methods. Dairy-based beverages have new options available for their market reach even though many manufacturers are focusing on creating new products frequently.
The leading key players are involved in marketing and providing on-the-door services since the feasibility of using dairy beverages is increasing, and consumers find it more appealing. The strategies used by manufacturers are enhancing the dairy-based beverages market at a global level.
Sterilized milk is also available, has the longest shelf life and a cream layer does not form due to its processing which is homogenization (breaks up the oil drops in milk). The improvisations and additives in milk are enhancing the global market. The market is expected to witness high growth in the upcoming years as per the increasing demand for flavoured milk, especially by small age groups.
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“Innovation continues to prioritize functionality, with new frontiers focusing on need states.”
Due to the growing number of people trying to supplement their diets with immune-boosting nutrients and promote gut health, consumers are becoming more interested in fortified dairy products and alternatives with functional claims. Simultaneously, consumers are becoming more drawn to functional goods designed to relieve tension, promote sleep, and lift their spirits as they deal with persistent uncertainty, stress, and anxiety.
Botanicals are one of the most often used functional components in the rapid innovation occurring in the need states market. A new range of yogurt substitutes with bright botanical extracts was introduced by Danone North America-owned company So Delicious Dairy Free in 2022 to make it simpler to enjoy thoughtful micro-breaks throughout the day.
“The dairy industry's long-term strategies continue to prioritize sustainability.”
The perceptions of dairy products and alternatives are changing due to environmental worries about the future of the world. Players in the dairy ingredients and products industries are always seeking to increase their reputations for long-term sustainability, from addressing carbon neutrality to food waste. For instance, by monitoring, lowering, and offsetting its carbon footprint, the milk firm Neutral claims to be the first food company in the US to achieve carbon neutrality.
The regions with more population are expected to experience more demand in the upcoming years, as consumption is increasing, such as the Asia Pacific. The North American dairy-based beverages market is expected to have significant growth as per the increasing consumer demand for nutritious food. Dairy-based beverages, due to increasing awareness among consumers regarding health, expect high consumption rates.
The European Union countries accounted for a major share in terms of exports of dairy products in the year 2021. The USA accounted for the second-highest exports after Europe followed by India and China. Asian countries like India and China owe a significant share in terms of the production of dairy beverages due to high demand from the population.
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The global dairy sector is highly competitive due to major local and international brands’ presence. The level of competition, production shares, the yearly average compound growth rate of milk production, the cost of milk production, and trends in the level of competition in milk production have all been looked at in the global milk market. The industrialized world has the highest cost of milk producers due to relatively high milk prices and direct government backing.
India mostly uses a smallholder production strategy for its dairy farming. Indian farmers often have a herd of two to three dairy species (cows and buffalo). More than 40% of agricultural households in India produce milk since it is a livestock business they can start up relatively easily to increase their income. India's dairy industry is expanding at a demand-driven, inclusive, and poor-friendly rate.
Large, specialized commercial farms are the norm for dairy farms in Europe. The milk producers' organizations make use of their collective bargaining strength, and contracts and business connections in the supply chain are highly developed. In India, the production, processing, and distribution of milk are still dominated by the unorganized sector. Dairy markets are typically fragmented, traditional, and unorganized. Manufacturers are likely to have opportunities in developing regions for organized dairy sector growth in the forecast period.
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The current valuation of the market is US$ 54 billion.
Increasing preference for dairy-based beverages by health-conscious people due to limited amounts of cholesterol and fat is further estimated to generate growth opportunities in the market.
Manufacturers are likely to find opportunities in developing countries.
The milk segment is anticipated to cross a valuation of USD 331.80 billion by end of this year 2023.
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