The global dairy foods market sizeis expected to reach USD 964.18 billion by 2027, exhibiting a CAGR of 4.6%during the forecast period. The significant demand for dairy products yogurt,cheese, and whey proteins among the general population will augur well for themarket, states Fortune Business Insights, in a report, titled “DairyFoods Market Size, Share & COVID-19 Impact Analysis, By Source (Cattle,Sheep, Goat, and Camel), By Type (Lactose and Lactose-free), Product Type(Milk, Cheese, Butter, Dessert, Yogurt, and Others), Distribution Channel(Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and OnlineRetail), and Regional Forecast, 2020-2027.” The market sizestood at USD 686.18 billion in 2019.
The coronavirus emergency has resulted in financial jeopardy fortrades and businesses around the world. The authorities of several countrieshave initiated lockdown to avert the increase of this infectious disease. Suchstrategies have caused disturbances in the production and supply chain. But,with time and resolution, we will be able to combat this stern time and getback to normality. Our well-revised reports will help companies to receivein-depth information about the present scenario of every market so that you canadopt the necessary strategies accordingly.
Market Driver:
Rising Consumption of Value-Added Dairy Products toContribute Impetus
The evolving lifestyles of people and disposable income arefactors expected to spur opportunities for the market. The growing demand forvalue-added dairy foods such as cheese, butter, creams, and yogurts amongconsumers will have a tremendous impact on the market. The increasingcognizance about gut health will further fuel demand for yogurt, kefir, andother fermented dairy products, in turn, bolster healthy growth of the market.The rapidly prospering dairy industry is expected to enable speedy expansion ofthe market in the forthcoming years. In addition, the development of innovativepowders such as dairy creams and cheese powder can promote the growth of themarket.
Instability in Dairy Production to Disrupt Business Amid COVID-19
The lockdown in several regions has severely impacted the globaldairy foods market. The massive drop in the foodservice industry has resultedin limited demand for dairy products. Thus, the low demand for higher-valueproducts is expected to hamper the dairy business. Nonetheless, the growingsale of low-cost dairy foods such as milk powders among consumers willsimultaneously aid the market for speedy recuperation. In addition, thetechnological advancements to improve the production of dairy products willpromote the market amid coronavirus.
Regional Analysis:
High Demand for Clean-label Products to Influence Growth in Europe
The market in Europe is expected to experience a rapid growth rateduring the forecast period due to the growing demand for clean-label dairyproducts. The shifting consumer preference towards organic, healthy, non-GMO,lactose-free, and non-fat milk and dairy foods will aid expansion in theregion. North America is likely to hold a small portion in the global marketduring the forecast period owing to the shifting consumer preference towardsvegan products. However, the ongoing awareness programs to encourage consumersfor animal-based dairy products can potentially stimulate the market in theregion. Moreover, the rising consumption of infant formula and whey powder willfavor growth in the region.
Key Development:
June 2020: Lactalis International,announced the release of a new skimmed milk powder made by using a specificheat treatment that denatures the protein to obtain a heat-stable powder.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/dairy-foods-market-103890
