Dairy Products Market Datam intelligence

The potential health benefits offered by dairy products is the primary growth factor of the global dairy products market. The rising consumer interest for healthy living increased the focus on dairy products globally. Dairy products are considered as a vital part of human diet owing to their high nutrient content. Beside fresh milk, products such as yogurt, fermented milk and low-fat milk are proven to be beneficial among humans.

The global dairy products market in online channel valued USD 17.03 billion in 2019 and is estimated to grow at a CAGR of 15.99% during the forecast period to reach USD 48.57 million by 2026.

Milk is considered as a vital source of vitamins and protein that help in the well-being of human beings. Also, milk is the most preferred choice of source for minerals such as calcium. The calcium content in milk help develop healthy bones and teeth among young children, thus making it a vital part of infant nutrition. Furthermore, vitamin D reduces the risk of cancer protection, potassium helps reduce the levels of blood pressure and improves heart health.

These nutritional benefits are driving the sales of dairy products among health conscious population groups around the world, thus boosting the market growth. With global population expected to reach 9.8 billion by 2050, the demand for dairy products is likely to continue on the verge of better nutrition to people across the world. Dairy products are gaining prominence in several fields including paediatrics, sports nutrition and medical nutrition. Body building, weight-gain enthusiasts and other physical growth aspirants are preferring these dairy products as primary nutrient source.

Dairy beverages are on the forefront of development in consumer dairy products. The novel formulations in this category are likely to shape the sales over the next few years. Health conscious consumers are turning towards clean label, healthy and organic dairy beverages. Companies are shifting focus towards development of these consumer-chosen categories.

Most of developing economies in Asia Pacific region has been untapped markets for high-value products such as cheese and butter. The increasing tourism activities, rising income levels and interest towards western food diets are likely to surge the demand for these products in the region over the forecast period.

Consumption of fluid milk has been declining in the U.S. and several European countries. However, the outbreak of COVID-19 pandemic is turning the consumers towards basics in nutrition and immunity aspects.The sales of liquid milk will be revived in these regions over next decade.

The fastest-growing market of online stores is attributed to a variety of options for a particular dairy products at discounted rates as compared to traditional retail prices, to attract more customers. The usage of online services has also increased in developed as well as developing markets due to factors such as faster accessibility and cost-effectiveness. The increased frequency of online shopping has created opportunities for enhancing the product sales of leading online players and regional domestic e-retailers, such as Amazon, Vegan Online, and Goodness Direct.

Some large dairies across the country have reported 50-100% jump in monthly sales of cheese, butter, paneer, cream and dairy whitener in April--the month that saw offices adopting the work-from-home model to align with the government’s lockdown order and help contain the spread of coronavirus. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. The changes in consumer buying behavior and the dynamic shifts towards online and B2C distribution channels may have serious implications on the near future growth of the industry.

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