The Global Dairy Nutrition Market is estimated to be valued at US$ 15.73 Billion in 2022 and is expected to exhibit a CAGR of 7.92% over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Dairy Nutrition market includes a wide range of products such as milk, cheese, butter, yogurt, and other dairy-based products. These products are consumed by individuals of all age groups and are known for their high nutritional value. The use of dairy products is not only limited to direct consumption but also finds applications in the food and beverage industry for the production of various products such as desserts, confectionery, and baked goods. The rising awareness among consumers about the health benefits associated with the consumption of dairy products is a key factor driving the growth of the market.
Market Dynamics:
The market dynamics of the Dairy Nutrition market can be attributed to two key drivers. Firstly, the rising consumption of dairy products is driven by factors such as increasing population, rising disposable income, and changing dietary patterns. Dairy products are known to be a rich source of essential nutrients such as proteins, vitamins, and minerals, which are necessary for maintaining optimum health. Secondly, growing health consciousness among consumers is leading to an increased demand for healthier and natural alternatives to conventional food products. Dairy products are perceived as a healthier option due to their natural composition and minimal processing, which is further driving the growth of the market.
SWOT Analysis:
Strengths:
- The dairy nutrition market has a strong growth potential, with a projected CAGR of 7.92% from 2023-2030.
- Groupe Danone, Fonterra Co-operative Group Ltd., and Nestle S.A. are key players in the market, which reflects their strong brand reputation and market presence.
- Increasing consumer awareness about the importance of dairy nutrition and a growing focus on healthy lifestyles are driving the demand for dairy nutrition products.
Weaknesses:
- Fluctuations in the prices of raw materials, such as milk and dairy products, can impact the profitability of dairy nutrition companies.
- The dairy nutrition market faces challenges related to packaging and transportation, as dairy products require storage and distribution under specific temperature conditions.
Opportunities:
- The demand for functional dairy products, such as fortified milk and yogurts, is increasing due to rising health consciousness and a focus on disease prevention.
- Expansion into emerging markets, such as Asia-Pacific and Latin America, presents significant growth opportunities for dairy nutrition companies.
Threats:
- Stringent regulations and quality standards in the dairy industry pose a challenge to market players, as non-compliance can lead to penalties and reputational damage.
- Increasing competition from plant-based alternatives, such as soy and almond milk, may pose a threat to the dairy nutrition market, as some consumers opt for non-dairy options due to dietary restrictions or environmental concerns.
Key Takeaways:
The global Dairy Nutrition Market Share is expected to witness high growth, exhibiting a CAGR of 7.92% over the forecast period, due to increasing consumer awareness and a shift towards healthy lifestyles. The market size is projected to reach US$ 15.73 billion in 2022. Asia-Pacific is the fastest-growing and dominating region in the market, driven by a large consumer base, rising disposable incomes, and changing dietary preferences.
Key players operating in the dairy nutrition market include Groupe Danone, Fonterra Co-operative Group Ltd., Proliant Inc., Koninklijke DSM N.V., E.I. DuPont De Nemours and Company, Arla Foods amba, Cargill Inc., Groupe Lactalis S.A., APS BioGroup, and Nestle S.A. These companies have established themselves as market leaders through their strong brand reputation and product innovation.
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Introduction
Demand for dairy nutritional and nutraceutical products has grown significantly in recent years. Higher consumption of dairy protein is forcing dairy food processing companies to increase their production volume. Milk is the major ingredient in all dairy nutritional products. The global production volume of milk is increasing perennially owing to the ever expanding application base of the product. Global sales of dairy nutritional and nutraceutical ingredients was valued at US$ 12.2 Bn in 2015 and is projected to be valued at US$ 24.5 Bn by 2024. Sales revenue is expected to register a CAGR of 8.1% during the forecast period (2016–2024).
Dairy farms owners are adopting advanced dairy farm management systems and deploying latest milking equipment. For instance, introduction of advanced robotic milking technology or automatic milking system that can assist in both herd management and milk production are fulfilling the requirements of lactating dairy. These latest technologies are expected to enhance the essential farm components and farm management systems. Few popular milk-based confectionary items include yogurt and cheese, ice cream, dietetic formulations, desserts, energy bars, infant formulae toppings, baked goods, low-fat spreads, sports beverages, and geriatric nutritional products.
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The market for dairy nutritional and nutraceutical ingredients is majorly driven by factors such as increasing awareness on benefits of dairy nutritional ingredients, easy availability of caseinate and caseins and growing demand for milk-based hair and skin care cosmetics. In addition, the steady rise in demand for dairy nutraceutical ingredients from the food processing sector is further expected to influence the overall market growth. Health benefits of consuming such nutritional products may include lower risk of cholesterol, cardiovascular disease, healthy bone growth and improved digestive health.
The Growing Consumer Expectation
Dairy food manufacturers are incessantly increasing the use of ingredients such as dairy protein, prebiotics, colostrum, and nucleotides in their products in order to meet consumer expectation. Modern day consumers are highly conscious about maintaining a fit and healthy body and demand pleasant yet healthy products. Thus companies focus on offering healthier indulgent food and beverages. Innovative ingredients that add both taste and texture in food items are witnessing a healthy amount of success and are being appreciated by consumers. Adding nutritional ingredients such as dairy protein to infant formula, clinical nutrition and functional food greatly improve their food value.
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Trends
Most dairy food processing companies are emphasizing on offering higher food value to consumers. Thus, structurally modifying functional properties of the ingredients. The companies are employing qualified management staff for further developing and enhancing their products. The ever-increasing quality requirement is resulting in further development of solutions tailored to meet specific customer request accordingly. For instance, Epi Ingredients a leading dairy ingredient producing company based in Europe has recently showcased its latest EPILAC powders at Health Ingredients (Hi) Europe 2016. The powder is available in all-natural premium fermented flavors (fermented milk powder, yoghurt powder and quark powder).
Conclusion
In 2015, the global sales of dairy nutritional and nutraceutical ingredients surpassed US$ 12 Billion and is anticipated to reach US$ 24.5 Billion by the end of 2024. The market for dairy nutritional and nutraceutical ingredients is relatively larger in North America than other regions. Growing preference for dairy protein ingredients in clinical nutrition, functional food, bakery & confectionaries, infant formula, personal care and dairy products preparation is well supporting the market growth in North America. In addition, the presence of major dairy protein manufacturers in North America is further expected to benefit the market in the region.
Key Players
Some of the key players identified in the global dairy nutritional and nutraceutical ingredients market include Fonterra Co-operative Group Ltd., Koninklijke DSM N.V., Proliant Inc., Arla Foods amba, E.I. DuPont De Nemours and Co., Cargill Inc., APS Biogroup, Groupe Lactalis S.A., Nestlé SA, and Danone SA.
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