Fortified Dairy Products Market
Fortified Dairy Products Market By Product Type (Milk, Milk Powder and Formula, Flavoured Milk, Cheese, Dairy Based Yogurt), By Micronutrient (Vitamins, Minerals, Other Fortifying Nutrients),By Region - Global Mraket Forecast 2020-2026
Flavored Milk Emerges as Preferred Variant, Bolstering Growth of Fortified Dairy Products Market
The fortified dairy products market has been witnessing the introduction of an extensive range of dairy products in the recent past. In addition to dairy-based products, creamy products such as yogurts, cheese, cream cheese, fromage frais, milkshakes and flavored milk, are witnessing immense popularity. Increasing consumer interest in health food is giving an uptick to sales of popular dairy foods such as yogurts.
The packaged food industry further sustains the demand for cheese, soft cheese, and similar products. From the fortification point of view, it is technically easier and more suitable to fortify dairy-based cream products owing to their highly viscous nature that prevents sedimentation, unlike liquid (beverage) products. This is likely to push demand for fortified dairy products.
Moreover, flavored milk is rapidly latching on to the soaring consumer interest, attributed to its great taste and flavor. This has increased consumption of fortified dairy products. The aforementioned factors will support the growth of fortified dairy products market in the coming half decade.
Sales of Vitamins Segment to Surge in Fortified Dairy Products Market; Minerals Register Faster Growth
In terms of revenue generation, vitamins have been the largest segment, contributing to the overall sales of global fortified dairy products market, where vitamins contribute more than half of market share within global fortified dairy products market owing to increased demand from vitamins deficient population.
However, the next few years are expected to observe bolstered growth of minerals segment, attributed to their importance as essential micronutrients in fortified dairy products.
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Fortification of Milk and Derived Products to Gather Momentum
Manufacturers and experts state that milk and dairy products are an easy vehicle for fortification than most of other foods. Proven results of fortified dairy products in terms of reduction in nutrient deficiency conditions will reportedly continue to support revenue generation.
As far as dairy products are concerned, they are popularly known as calcium-rich foods and some popular fortified dairy foods such as milk are available in the market since the last couple of years.
Being a rich source of calcium, vitamin D, potassium, and magnesium, milk remains the most recommended food for consumers of all ages which is likely to bolster the demand of fortified dairy products during forecast period.
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Emerging Markets from Asia to Exhibit Potential Growth in Fortified Dairy Products Market
World Health Organization (WHO) and the Food and Agricultural Organization (FAO) collectively portray food fortification as an important strategy to fight the prevalence of childhood and adult malnutrition, especially in underdeveloped countries and remote areas of developing countries, which has resulted in increased demand for fortified dairy products.
In addition, growing awareness among population about benefits of dairy product consumption is evidently resulting in higher spending on fortified food, which will push sales up in fortified dairy products market. India and Japan collectively are anticipated to witness attractive growth opportunities for fortified dairy products in the near future. APEJ is likely to remain the largest market for fortified dairy products, following a robust pace over the forecast period.
Moreover, favorable regulations that are aimed at malnutrition elimination and rapidly surging awareness of fortified dairy products within the population will act as strong drivers of revenue generation in the Middle Eastern market. African market for fortified dairy products is also foreseen to follow a steady pace in near future.
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Product Portfolio Strengthening to Remain Market Imperative
Tier 1 fortified dairy products market players such as Nestle SA, BASF SE and Danone SA etc, have been expanding their product portfolio in the potential markets such as United States, India, China, Germany etc.
To develop new applications of fortified dairy products, companies are investing money in research and development to strengthen their product portfolio with innovative fortified dairy products such as breakfast milk drink, flavored protein milk drinks etc.
For instance, in the year 2018, the company Nestle USA, launched Nesquik-SuperBreakfast protein-rich milk drink. This has helped Nestle USA boost its revenue with new fortified dairy product offerings in market.
Fortified Dairy Products Market: Segmentation
FactMR’s study has done the segmentation of fortified dairy products market on the basis of product type, micronutrients, sales channel and region.
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