Market Size of Dairy Based Beverages Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Dairy Based Beverages Market Analysis
The global dairy-based beverage market is projected to register a CAGR of 6.1% during the forecast period, 2020-2025.
- The market is mainly driven by the value ofnutrition and functional properties of milk and the rising demand for probiotic drinks by health-conscious consumers.Also, recent launches of formulated functional products with new flavors have further fueled the global market, such as fortification of drinkswith omega 3, collagen, aloe vera, plant sterols, and soy isoflavones. For instance, Morinaga Nutritional Foods Inc. launched a low-fat Japanese-style yogurt drink under its Alove brand in three flavors- original aloe vera, strawberry banana, and coconut in March 2018.
- However, rising demand for non-dairy based drinksand carbonated drinks due to lactose intolerance and other allergies is one of the factors restraining the global market fordairy-based beverages.
