The key factors for this market's growth include increased dairy product consumption and a shift in customer preference from meat to dairy products for protein enrichment. The simple availability of dairy products as a result of modern retail facilities and cold chain logistics propels market growth even further. During the Covid-19 pandemic, large product sales through online distribution channels also aided industry expansion. Dairy products are high in calcium and riboflavin, which have a variety of health benefits.

Market Scope and Structure Analysis

COVID-19 Impact Analysis

• The COVID-19 pandemic has impacted economies and businesses in a number of countries including dairy industry due to lockdowns, travel bans, and company closures.
• The expansion of the dairy market has slowed due to factory closures, supply chain challenges, and the global economic slowdown caused by COVID-19.
• Many small-scale dairy product manufacturers were severely harmed during the COVID-19 pandemic, as reliance on out-of-home channels was impossible for individuals due to lockdown in many nations.
• A substantial shift in consumer behavior has created a fresh chance for mid- and large-scale manufacturers to expand their product sales in the third quarter of 2021.
• Key sales channels such as departmental stores were closed owing to lockdown restrictions due to which corporations reported a drop in revenues at the start of the year.
• Manufacturers were additionally affected by growing agricultural raw material and packaging material costs, on top of dealing with these challenges.

Top Impacting Factors

• Milk consumption has increased in developing countries as it is extremely nutritious and provides protein and calcium. Furthermore, milk lowers the incidence of osteoporosis in the elderly, which is projected to boost demand significantly.
• The yoghurt category is predicted to rise significantly during the projection period due to the strong demand for yoghurt in countries like Brazil, China, and India.
• Chinese consumers enjoy yoghurt as part of their diet since it helps to maintain a healthy stomach and hence improve immunity.
• Furthermore, the desire for somewhat sweet and flavored yoghurt products in this country has an impact on overall market growth.
• Expansion of product demand in Asia-Pacific as a result of a growth in predisposition toward western dietary habits, the cheese product segment is expected to develop at the quickest rate in the predicted period.
•  Furthermore, the segment's expansion is being fueled by easy availability and innovation in cheese products.

Market Trends

Increased Demand for Milk and Milk-based Components

One of the key drivers of market expansion is the increased demand for milk and milk-based components. Population expansion, growing affluence, more health awareness, and a thriving food & beverage business are all factors. Incorporation of automated technologies in dairy farms is another key trend in the sector. Farmers now have easier access to innovative tools that aid in measuring data for operations such as grass and herd management. Aside from that, the industry offers a variety of robotics, smartphone data applications, satellite systems, and drones to help farmers make profitable and efficient decisions.

Consumers Prefer Organic Food these Days

During the projected period, the growth in desire for local, sustainable, and organic food production is expected to benefit the dairy food industry. Consumer health, environmental conservation, and animal welfare are all prioritized in organic food production, which includes organic dairy products. Consumers are increasingly more interested about how food is grown and prepared, and they are willing to spend a little more for something they perceive to be healthy.

Key Segments Covered

Type:

• Milk And Butter
• Cheese
• Dry
• Condensed
• Evaporated Dairy Products
• Ice Cream
• Frozen Dessert

Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• E-commerce
• Other

Region

• North America 
  • U.S.
  • Canada
  • Mexico
• Europe 
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia-Pacific 
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• LAMEA 
  • Latin America
  • Middle East
  • Africa

Key Benefits of the Report

• This study presents the analytical depiction of the dairy industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the dairy market share.
• The current market is quantitatively analyzed from 2020 to 2028 to highlight the dairy market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed dairy market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the Report

• Who are the leading market players active in the dairy market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?
• What is "dairy market" prediction in the future?
• Which will be the niches at which players profiling with recent advancements should set a presence?
• What are the driving factors and opportunities in the market?
• What are the current trends and predicted trends?
• What are the challenges faced in the "dairy market"?