The global dairy product market is expected to witness significant growth over the forecast period. Growing world population base, rise in per capita income, increase in consumer awareness level regarding nutritional values of dairy products and, change in consumer dietary patterns are the key drivers regulating the market growth. In addition, technological advancements and innovations for obtaining more milk from dairy animals are also estimated to boost market growth.
Demand for milk and milk products such as cheese and butter is increasing daily with increase in world population. High-end technology is required to meet these needs by increasing the milk processing capacity and maintaining the quality of the product. The dairy industry is highly localized owing to perishable nature of milk products. According to the FAO, only 7% of milk in the U.S. is exported. Dairy products are exported to the regions where climatic conditions, unmet demand supply ratio, unfavorable government measures and change in exchange rates play a major limiting role. Use of technologically advanced transportation measures for maintaining the efficiency and quality of milk products during long distance export are also anticipated to boost the market growth.
Government arbitration plays a major role in regulating the market growth. Government in key dairy production countries such as Canada monitors the pricing structure and production quantities of main dairy products. it also monitors the process of storing the dairy products in order to maintain the quality of these products for longer durations and avoid unnecessary wastage. Favorable rules and regulation are formed by government bodies in order to protect them from fluctuations in foreign market prices
Rising adoption levels of sedentary lifestyle, unhealthy food habits and increasing awareness levels for nutritional food products is also estimated to increase demand for the market. Novel products with improved quality and increased nutritional values are been introduced by major players to capture these increasing demand of the market. These products include toned milk, skimmed milk, low fat energy drinks, seasonal fruit yoghurts and savory yoghurt dip.
The market is segmented on the basis of type of product. It includes milk, butter, cheese, casein, ice cream, lactose and yoghurt. Among these products, milk, cheese and lactose are estimated to hold major share of the market owing to their rising demand and increased usage rates in all levels of population. Rising consumption levels of foods such as ice creams and milk shakes are also anticipated to drive market growth over the forecast period.
Based on application, market is segmented into frozen food, bakery and confectionary and, clinical nutrition. Frozen food include of ice creams and other condensed milk products to be maintained for longer durations. Bakery industry also has applications of dairy products such as cream, cheese and butter during production of various types of biscuits and breads. Dairy products owing to their nutritional values and benefits are also administered by clinical professionals to patients suffering from some disorders and undergoing surgery.
The food service and food processing industry and the food retailers are the major customers for these products.
Dairy industry is also considered as one of the major industry providing a huge amount of employment worldwide. According to the FAO, around 150 million households around the world are engaged in production of milk and milk products. In last three decades, overall milk production rate has been reported to have increased by more than 50%, from 482 million tonnes to 754 million tones.
North America is estimated to dominate the market. Key factors supporting the largest share are ability to manage higher number of herds, increase in per cow milk production, increasing awareness levels among people for nutritional products, and introduction of advanced equipments for milk processing.
Asia Pacific region is expected to be one of the fastest growing region over the forecast period. India contributes around 16% of global dairy production. The increase in population base, high consumption of dairy products, and increasing economical growth in this region are the factors attributing significant growth.
Key players of the market are Amul, Agra Industrier, Dairy Farmers, Kraft Foods Inc., Fonterra group Cooperative Limited, Dairy Farmers of America Inc., Arla Foods UK Plc., Meiji Dairies Corporation, Nestle SA, Royal Friesl and Campina N.V.Sancor Cooperatives Unidas Limited,Megmilk Snow Brand Co. Ltd, Dean Foods Company,Parmalat S.P.A,Danone and Unilever.
Market players such Danone is continuously innovating and manufacturing the products to attract a huge base of population. The company has developed a program called as Nutriplanet. This program is for the better identification of the taste, nutritional needs and habits of the customer. The Program also provides support to local milk producers to maintain quality of milk products and improve farming practices.
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