Dairy Alternatives Market to Incur Steady Growth During 2023

The global market for dairy ingredients should grow from $174.4 billion in 2018 to reach $208.0 billion by 2023 at a compound annual growth rate (CAGR) of 3.6% for the period of 2018-2023.

Report Scope:

The report covers the global dairy ingredient market in detail and studies all types of dairy ingredients in all regions. The market is categorized on the basis of major product types, applications, regions and countries. Volume and revenue forecasts have been provided from 2017 to 2023 for each product type, application, region and country.

The report also includes a discussion of the major players in each regional dairy ingredient market. Further, it explains major drivers and regional dynamics of the global dairy ingredient market, as well as current trends within the industry.

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The report concludes with a special focus on the vendor landscape and detailed profiles of major vendors in the global dairy ingredient market.

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Report Includes:

– 143 data tables and 80 additional tables
– An overview of the global market for dairy ingredients and dairy alternatives
– Analyses of global market trends, with data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023
– Infromation on the trade pattern of the various types of powder dairy ingredients including whey protein, casein, lactose, whole milk and skimmed milk among others
– An overview of dairy alternative products such as soy milk, almond milk, coconut milk and rice milk
– Examination of the effect of supply variations on price trends and demand in each region
– A look at the impact of changing milk production statistics in the Europe, Australia and New Zealand on the global dairy powder trade
– Profiles of major companies in the industry, including Abbott Laboratories, Amul, Fonterra Co-Operative Group Ltd., Frieslandcampina and Sunopta

Summary

The global dairy market is driven by the increasing per capita consumption of milk and its derivatives. Factors such as rising geriatric population, increasing health issues among youth and growing awareness about the nutritional value of dairy-rich products is expected to augment the growth of the market.

Changes in consumer eating habits for numerous reasons—including the growing number of working hours, growing number of working women and ease of availability of processed foods—is expected to play an important role in driving the demand for dairy ingredients. Dairy ingredients are used extensively in processed foods, bakery products, confectioneries, infant formula, sports nutrition and beverages, as they impart nutrients and a rich, creamy taste to the final formulation.

The dairy ingredient market is one of the most regulated industries. The value chain of dairy ingredients is complex and delicately balanced. Due to the perishability and sensitive nature of its end uses (infant food being the case in point), there are numerous risks that need to be mitigated in order to maintain the hygiene and quality necessary for the safe consumption of dairy ingredients. It is dependent on the volatile yield of milk from milk farms and other dairy cooperatives. There are issues such as farmers’ livelihood and food prices that must be considered before executing policy changes. The sourcing of the raw material (i.e., milk)—ranging from milking the cattle at farms to transporting the milk without spoilage through cold chain logistics—is one of the most complex and delicate parts of the value chain of dairy ingredients.

The perpetually rising global population is raising food security concerns around the world. Governing bodies and food industry observers continually point out the need for nutritious and balanced diets. Dairy derivatives, being among the most nutritious foods, are sought-after and promoted products by the industry and governing bodies alike. According to a study by the United States Dairy Export Council (USDEC), growth will be driven by economic and population dynamics in developing countries.

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