Global Dairy Products Market to Reach US$494 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Dairy Products market. The global market for Dairy Products is forecast to reach US$494 billion by the year 2015. Recovery in consumption post global recession, continuing population growth, rising demand from developing countries, trade liberalization, and continued growth in advertising are expected to fuel market growth.
San Jose, CA (Vocus) November 1, 2010
The past three years witnessed rapid growth of the global dairy industry, which was curtailed by the global economic recession, changing weather conditions in export markets, and varying feed and other input costs, among others. The global recession has made a negative impact on the affordability as well as demand for dairy products, changing consumer behavior across several markets worldwide. Demand for various milk products slumped in 2009 in the wake of recession. Spot prices in the international market for dairy commodities declined following the recession, and hit the lowest level in the month of February 2009. However, prices registered an increase since then in response to tighter global supplies and improving economic conditions. Demand for dairy products began to recover in the latter part of the 2009 and the industry began to witness growth in early 2010.
The market for dairy products is forecast to gain momentum over the ensuing years. Economic recovery in various parts of the world, along with an inclination for value-added products (organic produce and products with additional nutritional benefits) is expected to add significant market growth. As customers demand dairy products that fit their diet and nutritional chart, the scope for the growth of new, innovative, and healthier products has increased. Global dairy market, over the recent years, expanded mainly due to introduction of new dairy products, including omega-3 fatty acids-enriched milk, and A2 milk. Other health oriented dairy products include probiotic yogurts, standard milk with less fat, fromage frais and lactose-free goat cheese products. Besides health, convenience also played a vital role in the growth of global dairy market.
Europe constitutes the largest regional market for dairy products, as stated by the new market research report on Dairy Products. The United States represents the single largest market, in terms of consumption of dairy products. Consumption of milk and dairy products in developed countries is expected to witness limited growth in the near term. Whereas, the global market for dairy products continues to be driven by exceptional growth in Asia, Latin America and the Caribbean. Asia-Pacific is projected to increase at a compounded annual growth rate of about 5.0% over the years 2007 through 2015. Although developed regions such as Western Europe and North America continue to lead in terms of dairy products consumption, the decline in population and per capita consumption has brought down the pace of growth in these regions. However, the high-income regions continue to drive demand for premium-priced value added dairy products across the world. On the other hand, in developing regions with relatively lower income levels, per capita consumption is witnessing dramatic growth. Launch of innovative dairy products such as vitamin-enriched, organic and convenience/snack foods has stimulated significant demand. Efforts to market these products has resulted in interesting findings that young adults, health conscious people and children tend to spend more on milk products.
In terms of product types, the global Dairy Products market is dominated by Cheese in value terms. Europe, US, and Brazil are the leading producers of Cheese globally. Fluid Milk represents the next largest market, followed by ice creams, and yoghurt. Milk consumption remains unaffected by the global recession. Most of the growth in milk consumption over the recent years has been primarily driven by the developing countries. Growth in the global milk market is primarily attributed to the rising demand in China and India, wherein a large quantity of milk is sold in the unorganized sector. Ice Cream and related products segment represents the fastest growing segment. Butter consumption worldwide is estimated to reach US$22.6 billion in 2012. Production-wise, India is the largest producer of butter worldwide, followed by the EU and US. Other leading producers include New Zealand, Russia and Mexico. Yogurt’s functional capabilities are making the product popular globally. Drinkable yogurt has been one of the fastest growing food and beverage product categories in the world, and exhibits immense growth potential. Supported partly by marketing strategies, yogurt drinks gained wide popularity in most regions of the world, largely due to its portability and functionality. In addition to good taste and health benefits of drinking yogurt, convenient packaging and portability features have contributed to higher sales in the segment.
Major players profiled in the report include Amul (Anand Milk Union Limited), Arla Foods, Dairy Farmers of America Inc., Dean Foods Company, Groupe Danone SA, Groupe Lactalis SA, Kraft Foods Inc., Meiji Dairies Corporation, Nestle SA, Saputo Inc., Unilever NV, among others.
The research report titled “Dairy Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the dairy products market, impact of global recession on the industry, current market trends, growth drivers, segment market analysis and potential, production, import and export trends, new product introductions, recent industry activity, and focus on major and niche global as well as regional market participants. The study analyzes market data and analytics in terms of value sales for global as well as regional markets, including the US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key product segments analyzed include Fluid Milk, Milk Powder, Butter, Cheese, Ice Cream and Related Products, Yogurt and Related Products, and Cream. A seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www. strategyr. com/Dairy_Products_Market_Report. asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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