APAC Dairy Market Size
| Study Period: | 2016-2027 |
| CAGR: | 3.12 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Dairy Market Analysis
The Asia-Pacific dairy market is projected to register a CAGR of 3.12% over the forecast period. China is the most significant market for dairy, primarily driven by the increased consumption of dairy products. India and Indonesia are the fastest-growing market in the region, driven by increased population.
- Demand for western dairy products such as natural snacks, fermented dairy products, such as yogurt, sour milk, etc., and product and packaging innovation is driving the growth of the dairy market. The demand for clean label products and transparency in dairy products certainly drives innovation in the dairy products sector. Dairy consumers will continue to look at product labels in the envelope.
- According to the Department of animal husbandry and dairying, India continued to be the largest producer of milk across the globe. The government has taken several steps to boost livestock output, and as a result, milk production has greatly increased. The amount of milk produced in 2019–2020 and 2020–2021 was 198.44 million tons and 209.96 million tons, respectively, growing by 5.81% annually. In 2020–2021, milk was available per person at a rate of about 427 g per day. Such factors provide the country with economies of scale, which in turn leads to the easy availability of dairy products at cheaper costs driving the market across the region.
APAC Dairy Industry Segmentation
The Asia-Pacific dairy market is segmented by product type, distribution channel, and geography. Based on product type, the market is segmented into milk, cheese, butter, dairy desserts, yogurt, and other product types. Based on the distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, specialist retailers, and other distribution channels. Based on geography, the report also provides a regional analysis based on the countries covered, including India, China, Japan, Australia, and the Rest of Asia-Pacific. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Product Type | |
| Milk | |
| Cheese | |
| Butter | |
| Dairy Desserts | |
| Yogurt | |
| Other Products |
| Distribution Channel | |
| Supermarkets and Hypermarkets | |
| Convenience Stores | |
| Specalist Retailers | |
| Online Retail Stores | |
| Others |
| Country | |
| China | |
| Japan | |
| India | |
| Australia | |
| Rest of Asia-Pacific |
APAC Dairy Market Trends
This section covers the major market trends shaping the APAC Dairy Market according to our research experts:
Inclination Toward Probiotic Rich Snacking Alternatives
Yogurt and sour milk drinks, which offer potential health benefits from probiotic content, are attracting sales. Increased health & wellness trend among consumers is driving dairy snacks demand. Sour milk drinks, drinkable yogurt, and flavored and fermented milk recorded a healthy growth rate over the past five years. According to Meiji Holdings, Japan's yogurt market was estimated to be worth over JPY 459 billion (USD 3.98 billion) in the fiscal year 2021. The yogurt industry in Japan is made up of various fermented dairy products, including drinking yogurt, plain and flavored yogurt, and certified health products for specific health reasons, among others. Innovation in probiotic beverages by incorporating various flavors in convenient pack sizes is another major factor in accelerating sales. Increased consumer awareness regarding additives in packaged products drives fresh milk sales in China, while flavored milk is becoming more popular in South Korea.
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Supermarkets/Hypermarkets Holds Prominent Share
- Product freshness plays an essential role in developing dairy products as more nutritious than shelf-stable variants, especially in emerging Asian countries, where health consciousness is gaining traction. However, supermarkets are leading the sale of overall dairy products, which convenience stores follow. Specialist retailers also account for a significant share of the market driven by the wide varieties available and convenient. Lack of cold storage in the supply chain affected the growth of convenience and independent small grocery retailers.
- Shopping at hypermarkets/supermarkets is also perceived as useful due to the heavy discounts, offers, product bundling, and other consumer-oriented schemes available to the customer. They hold a strong position due to the wide selection of brands on offer, considerable shelf space, and frequent price promotions. These channels are the foremost preference of dairy product manufacturers to launch new products and increase their market share because of the increasing footfalls they witness compared to other distribution channels and their increasing presence across the region.
- According to the Australian Bureau of Statistics, in Australia, there were just over 9,000 supermarkets and grocery outlets open for business at the end of the 2021 fiscal year, around 2,900 of which were in New South Wales. Similarly, according to China Chain Store & Franchise Association, Walmart China held the top spot in China in 2021, with yearly sales of about CNY 99 billion (USD 15.53 billion). Yonghui Superstores Co. Ltd produced almost CNY 98.97 billion (USD 15.52 billion) in the interim.
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APAC Dairy Industry Overview
The Asia-Pacific Dairy Market is highly fragmented, with a large number of domestic and multinational players competing for market share. Regional companies dominate the market, with Chinese accounting for the leading position, followed by Indian and Japanese players. Companies are focusing on new product launches and partnerships with distribution channels. Some of the major players in the Asia-Pacific dairy market are Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), Mother Dairy Fruit & Vegetable Pvt. Ltd, Yili Group, Fonterra Co-operative Group Limited, Land O'Lakes Inc., Danone SA, Dairy Farmers of America, Nestlé, Dean foods company, and Yakult Honsha Co. Ltd.
APAC Dairy Market Leaders
Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF)
Yili Group
Yakult Honsha Co., Ltd.
Mother Dairy Fruit & Vegetable Pvt. Ltd.
Meiji Holdings Company, Ltd.
*Disclaimer: Major Players sorted in no particular order
APAC Dairy Market News
- August 2022: With the introduction of iD Ghee in Mumbai, Bengaluru-based "iD Fresh Food" announced its entry into the INR 10,000 Crore (USD 1.25 billion) ghee market in India. The company anticipates generating an additional INR 100 Crore (USD 12.54 billion) in income as it prepares to introduce its newest product to important Indian markets in the upcoming months.
- July 2022: Yili Group, a prominent company in China, opened a butter factory in New Zealand Westland Dairy Hokitika Plant, which included a new Westgold production line. The new butter plant is expected to double Yili's capacity to 42,000 tons of grass-fed butter per year.
- May 2022: A range of limited-edition flavored milk was launched by the "Dairy Farmers" brand in Australia. The products were available in three different variants, including mint chocolate, ruby chocolate, and choco chip cookie.
APAC Dairy Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Milk
5.1.2 Cheese
5.1.3 Butter
5.1.4 Dairy Desserts
5.1.5 Yogurt
5.1.6 Other Products
5.2 Distribution Channel
5.2.1 Supermarkets and Hypermarkets
5.2.2 Convenience Stores
5.2.3 Specalist Retailers
5.2.4 Online Retail Stores
5.2.5 Others
5.3 Country
5.3.1 China
5.3.2 Japan
5.3.3 India
5.3.4 Australia
5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF)
6.3.2 Yili Group
6.3.3 Nestle SA
6.3.4 Yakult Honsha Co., Ltd.
6.3.5 Meiji Holdings Company, Ltd.
6.3.6 Mother Dairy Fruit & Vegetable Pvt. Ltd.
6.3.7 Dean Foods Company
6.3.8 The Kraft Heinz Company
6.3.9 Bright Dairy & Food Co., Ltd.
6.3.10 Fonterra Co-operative Group Limited
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Dairy Market Research FAQs
What is the study period of this market?
The Asia-Pacific Dairy Market market is studied from 2016 - 2027.
What is the growth rate of Asia-Pacific Dairy Market?
The Asia-Pacific Dairy Market is growing at a CAGR of 3.12% over the next 5 years.
Who are the key players in Asia-Pacific Dairy Market?
Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF), Yili Group, Yakult Honsha Co., Ltd., Mother Dairy Fruit & Vegetable Pvt. Ltd., Meiji Holdings Company, Ltd. are the major companies operating in Asia-Pacific Dairy Market.
Asia-Pacific Dairy Industry Report
Statistics for the 2023 Asia-Pacific Dairy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Dairy analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
