Dairy Market - Growth, Trends, and Forecast (2019 - 2024)

Global Dairy Market is segmented by Milk, Cheese, Butter, Yogurt, Dairy Desserts and by Distribution as Supermarkets and Hypermarkets, Convenience stores, Specialist Retailers and Others; and by Geography.

Market Snapshot

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Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

South America

Largest Market:

Asia Pacific

Key Players:

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Market Overview

Global Dairy Market is projected to grow at a CAGR of 5% to reach USD 703.5 Billion by 2024.

  • Global milk output in 2018 is estimated at 843 million tonnes, an increase of 2.2 percent from 2017, driven by production expansions in India, Turkey, the European Union, Pakistan, the United States of America and Argentina, but partially offset by declines in China and Ukraine, among few others.
  • Increasing demand is driven by a growing population, higher income, and more health consciousness. The global market is highly dominated by milk followed by butter, and cheese. Yogurt and frozen desserts remain the fastest growing market globally. 
  • Global butter exports expanded by 7.5% in 2018, mainly contributed by countries like New Zealand, the United States of America and India, However the European Union market for butter has declined.

 

Scope of the Report

Global Dairy Market is segmented by product types such a Milk, Cheese, Butter, Cream, Yoghurt, Dairy Desserts, Others. The other dairy-based products include sour cream, Quark and fromage frais and by Distribution channel as supermarket/hypermarket, convenience stores, specialist stores, and Geography.

By Product Type
Milk
Cheese
Butter
Cream
Dairy Desserts
Yogurt
Drinkable Yoghurt
Others
By Distribution
Supermarkets and Hypermarkets
Convenience Stores
Specalist Retailers
Online Retail
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Italy
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East and Africa

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Key Market Trends

Lactose-Free Dairy Driving sales

More than 5% of US population is Lactose Intolerant and more than 10% of Europe and 90% of China population are Lactose intolerant. Lactose intolerant dairy is driving sales in these markets. People perceive products with low levels of lactose and sugar to be better for them. The offer of lactose-free products is now more and more diversified. Products with less lactose content, lactose-free dairies, yoghurts, milks or cheeses, lactose-intolerant consumers have access to a dizzying array of choices on the store shelves. The United States accounts for 29% of all the Lactose-free food consumed around the world. Lactose-free dairy is growing at a CAGR of 7%.

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Developing countries contributing to the growth

Dairy product sales in developing countries form a major part contributing more than 50% of global sales. As the western market shows sluggish growth driven by product innovation, developing countries are growing at a higher rate driven by health consciousness. South America is the fastest growing region followed by the Middle East and Africa. Demand for dairy products is growing rapidly worldwide. This has led to the modernization of dairy production in developing countries. Efficient and sustainable dairy production in these countries is playing a large part in feeding the world’s growing population. Many women and children are benefiting from the day-to-day income from milk sales. Modernization also led to much lower greenhouse gas emissions, better milk quality and commercial opportunities for local dairy processing.

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Competitive Landscape

Dairy is a ubiquitous part of food life, ever present in both food service and packaged goods, whether as an end product (such as milk or yoghurt) or as a critical input for iconic products such as cheese pizza. Given its intrinsic presence, dairy is a microcosm of the food industry, with the preferences of dairy consumers largely being influenced by the same trends affecting the broader food sector. The dairy market is a very huge market with a lot of companies in play. Due to the dynamic and staple nature of the market, the market is highly competitive and there is much scope for new companies as entry barriers are not so great. Changing consumer behaviour, competition, and trade action have resulted in slow growth for dairy companies. Research into a representative sample of global dairy companies revealed a 3.0 percent drop in cumulative return on invested capital (ROIC), from around 9.5 percent in 2008 to 6.5 percent in 2017.

Major Players

  1. Nestle
  2. Lactalis
  3. Danone
  4. Fonterra
  5. Frieslandcampina

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Milk

      2. 5.1.2 Cheese

      3. 5.1.3 Butter

      4. 5.1.4 Cream

      5. 5.1.5 Dairy Desserts

      6. 5.1.6 Yogurt

      7. 5.1.7 Drinkable Yoghurt

      8. 5.1.8 Others

    2. 5.2 By Distribution

      1. 5.2.1 Supermarkets and Hypermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Specalist Retailers

      4. 5.2.4 Online Retail

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Spain

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Market Share Anlysis

    3. 6.3 Key strategies adapted by companies

    4. 6.4 Company Profiles

      1. 6.4.1 Nestle

      2. 6.4.2 Lactalis Group

      3. 6.4.3 Danone S.A.

      4. 6.4.4 Fonterra

      5. 6.4.5 Frieslandcampina

      6. 6.4.6 Arla Foods

      7. 6.4.7 Dean Foods

      8. 6.4.8 Yili

      9. 6.4.9 Mengniu

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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