Global dairy nutrition market was valued at US$ 15.73 Billion in 2022, and is expected to reach USD 28.94 Billion by 2030. Registering a CAGR of 7.92% during the forecast period of 2023-2030. Dairy products contain essential nutrients including vitamin A, D & B12, protein, calcium, phosphorus, carbohydrates, potassium, niacin, and riboflavin. Regular consumption of dairy products aids in improving overall health, and owing to this fact, dairy nutrients are widely been used in a variety of products including energy bars, dietetic formulations, low-fat spreads, infant formulas, and geriatric nutritional products.
Global Dairy Nutrition Market- Impact of Coronavirus (Covid-19) Pandemic
In 2020, the Covid-19 pandemic spread across the globe, causing supply chain disruptions due to panic buying. Many countries imposed lockdowns, affecting the food and beverage industry as a whole. With the food and beverage industries affected, demand scenarios for these products varied across countries. Lower demand was recorded in some countries where lockdowns were very strict, whereas in others where partial markets were open, the dairy industry did not suffer significantly. Because demand for high-value products was lower, cheese and butter prices rose slightly. In the coming months, the resumption of the hotel, foodservice, and dairy industries, as well as innovative dairy processing capabilities, may benefit this market in the face of the coronavirus.
Dairy Nutrition Market – Growth Drivers
The main factor that is fueling the growth of dairy nutrition market include increasing popularity of functional foods, and rising consumption of dairy protein for muscle building in youth. As the population grows, there are more consumers of various ages who require functional foods. For instance, The European Union is fighting modern-day diseases such as obesity, osteoporosis, cancer, diabetes, allergies, and dental problems. Developed countries are also facing obstacles such as ageing populations, high energy foods, and unbalanced diets. To overcome these diseases, they begin to deserve functional food.
Rising Demand for Milk based Ingredients
Across the world, more than 5.5 billion people are consuming milk and milk products. Many of the people are learning awareness about the health quality. Milk based Ingredients are rich in a good source of quality protein, benefits to healthy bones, and it helps to prevent weight gain, and so on. For instance, with the increasing premiumization and diversification of consumer needs in recent years, the uses of milk have expanded from traditional dairy products to new products with high added value. This trend is expected to drive further growth in milk consumption.
Dairy Nutrition Market - Market Restraints
Consumers' demand for plant-based foods has increased as their awareness of animal welfare has grown. Plant-based dairy substitutes are rapidly entering the mainstream retail market. Demand for dairy alternatives such as soy milk and almond milk is being driven by the growing perception that plant-based products are healthier and safer. The growing prevalence of lactose intolerance drives up demand for dairy alternatives. The rapidly developing dairy alternatives industry, with new product innovations such as non-dairy ice creams, cheese analogues, and whipped creams, is expected to hinder the growth of the global dairy foods market.
Figure 1. Dairy Nutrition Market, By Application, 2022
Predicated on application, the market is segmented into functional food, infant formula & clinical, dairy products, bakery & confectionary, and particular care. Functional food was the dominant part in the market in 2022 yet, infant formula and clinical section is projected as fastest growing segment over the forecast period, (2023-2030) registering the highest CAGR.
Dairy Nutrition Market Report Coverage
|Base Year:||2022||Market Size in 2022:||US$ 15.73 Bn|
|Historical Data for:||2017 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||7.92%||2030 Value Projection:||US$ 28.94 Bn|
Groupe Danone, Fonterra Co-operative Group Ltd., Proliant Inc., Koninklijke DSM N.V., E.I. DuPont De Nemours and Company, Arla Foods amba, Cargill Inc., Groupe Lactalis S.A., APS BioGroup, and Nestle S.A.
|Restraints & Challenges:|
Dairy Nutrition Market - Regional Insights
North America held a dominant position, in terms of profit, in the global dairy nutrition market in 2022. This is attributed to adding frequency of obesity in the region as dairy proteins helps reducing adipose mass and body weight, these factors are promoting the departing of dairy nutrition among cholesterol and diabetic cases.
Asia Pacific is projected to be the fastest growing region in the global dairy nutrition market, and registering the loftiest CAGR over the forecast period. Major factors propelling growth of this market include adding number of health conscious consumers and quickly growing food processing industry in the region.
The European region is expected to grow at an excellent CAGR as the region is home to major milk producing countries such as the UK and Germany. In this region, the consumption of dairy products such as cheese, ice cream, flavored milk products, etc. increases because the Percentage of consumption is high.
Figure 2. Dairy Nutrition Market, By Region, 2022
Dairy Nutrition Market - Recent Developments
Dairy Nutrition Market - Key Players
Major players operating in the global dairy nutrition market include Groupe Danone, Fonterra Co-operative Group Ltd., Proliant Inc., Koninklijke DSM N.V., E.I. DuPont De Nemours and Company, Arla Foods amba, Cargill Inc., Groupe Lactalis S.A., APS BioGroup, and Nestle S.A.
Definition: The dairy nutrition includes foods produced from the milk of mammals, such as cows and goats. Basically, it refers to milk and any food products made from milk, including cheese, cream, butter, and yogurt.
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