The global dairy based beverage market is estimated to be XX USD billion market in 2017 and is projected to record a CAGR of 5.5% in the forecast period of 2018-2023. The market of dairy beverage are growing at a fast rate as people are paying more attention to their health which is why the global market is projected to reach USD 15 billion during the forecasted period. Dairy drinks are ideal for adding value in terms of nutrition and functional additives. They are naturally high calcium content, they are perceived by consumers as nutritious, ‘good for me’ products. The growing demand for healthy dairy beverage has led key players such as Co-cola, Pepsi, Danone, Yakult and Kerry Foods are constantly focusing on new product launches of dairy beverage which meets customer requirements.
Growing consumer interest in the health benefits of dairy consumption is driving market growth. These products include reduced cholesterol and saturated fat or added nutritive components such as calcium magnesium, antioxidants, Omega 3, fiber, protein, phytosterol etc. Health benefits of probiotic drinks especially improvement of digestion and immune system is attracting consumers of all age groups. Another factor driving the growth of the market is rising medical cost which is forcing the population to go for preventive measures and maintain good health. The availability of dairy alternatives is restraining the dairy based beverage market growth. Key competitors to milk and dairy products now are milk alternatives, such as coconut milk, almond milk, flax milk and other juices that provide the same health benefits.
The global dairy beverage market is segmented by type, packaging and by sales channels. By type the dairy beverage market is segmented into standard white milk, flavored milk, drinking yoghurt, functional milk and others. Standard white milk holds the highest share in the global dairy beverage market. However, due to rising competition of standard white milk with plant- dairy alternatives, food manufacturers are focusing more on the functional and probiotic drinks which would offer additional health benefits compared to standard milk. Omega-3, fibers, bio-active compounds, and phytosterol are some of the functional components added to dairy beverage. By packaging type, the dairy based beverage market has been categorized into can, while by sales channel, the dairy- market has been segmented into convenience stores, supermarkets/hypermarkets, mass merchandisers, drug stores, food services/sports nutrition chain vending and others.
By geography, global dairy beverage market has been segmented into North America, Asia-Pacific, South America and Africa. North America and Europe holds a major market share in the global dairy beverage market Asia-Pacific is the fastest growing market due to growing health concern issues, increase in disposable income level, rising population are the key issues which lead to boost the market. Probiotics, functional dairy and natural colors combined with Asia’s rapidly changing lifestyle and health needs are among the top factors driving industry growth in the region. Due to this growing demand major players such as Chr.Hansen is focusing in these regions to fuel market growth.
The global dairy beverage market is fragmented with small and large manufacturers. The market is highly competitive and dominated by major players. The market players in this market compete on the basis of added health benefits, product differentiation, category extension, and innovation in product and application. Some of the major companies operating in the global dietary supplements market are Nestle, Arla foods, Krafts foods group inc., BASF, Chr Hansen, Danone and Eden Foods Inc.
Reasons to Purchase this Report
Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Covering 9 categories, 26 segments across 52 countries - offering over 60,000 data points
Looking to Customize Report?