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Dairy Market Trends

ID: MRFR//9963-CR | 128 Pages | Author: Garvit Vyas| April 2023

Global Dairy Market Overview


Dairy Market Size was valued at USD 5,68,097.9 million in 2020. The dairy industry is projected to grow from 5,85,554.8 million in 2020 to USD 7,96,817.6 million by 2030, exhibiting a compound annual growth rate (CAGR) of 3.48% during the forecast period (2022 - 2030). The growth of the organized retail sector in Asia-Pacific along with the increasing demand for lactose-free products are driving the market growth.


Figure 1: Dairy Market, 2020 & 2030 (USD Million


Dairy Market


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Dairy Market Trends



  • Increasing demand for lactose-free products


Lactose-free dairy products can provide essential nutrients to those that are not able to digest lactose found in regular dairy products, such as proteins, vitamins, and minerals. This category of products currently has a general ad growing appeal for consumer health. In recent times, the variety and quality of products in the lactose-free dairy segment have increased significantly, providing consumers with more tempting products as per their requirements As a result, lactose-free dairy products are now the fastest-growing market in the dairy industry. In the US, Europe, and China, more than 5 10 90 of the population are respectively lactose intolerant, fueling the popularity of lactose-free dairy products According to the majority of the population, products low in lactose and sugar are considered healthy There is a significant increase in the number of lactose-free products Low lactose products and lactose-free dairy products, such as milk, yogurt, whey, and cheese, are gaining traction over the forecasted period. In addition, due to the excellent quality of today's lactose-free dairy products, families often switch completely to lactose-free dairy products when only one member is lactose intolerant, which boosts sales in this segment.


Dairy Market Segment Insights


Product Type Insights


Based on product type, the Dairy Market segmentation includes milk, cheese, butter, yogurt, dairy cream, ice cream, and others. The milk segment held the majority share in 2020 contributing to around a market value of USD 377,404.8 million of Dairy Market revenue. Milk is an essential nutrient required by the body for proper functioning and, it is categorized into powder milk and liquid milk Liquid milk is a widely consumed dairy product across the globe The key driver for the growth of the milk segment is the rising population, due to which liquid milk consumption levels have witnessed significant growth Rising incomes, large vegetarian populations, growing living standards, and consumer health awareness are likely to bolster the segment growth over the forecast period Most of the market is currently represented by the unorganized sector However, the growth rates of the organized sector are faster than those of the unorganized sector. The milk segment is expected to grow at a market CAGR of 2.32%.  


Product Innovation:


Emphasis on Plant-Based Substitutes: Numerous companies are directing investments towards plant-based dairy alternatives, responding to the increasing consumer demand for vegan choices and accommodating dietary restrictions.


January 2021Danone S.A. launched a new cheese product for vegan consumers under its So Delicious Dairy Free brand. The plant-based cheese is developed with dairy-free and soy-free and is available in three varieties namely mozzarella, Mexican, and Cheddar style.


August 2021 Chobani launched its novel yogurt for a dog under its brand Daily Dollop. It’s a lactose-free and low-fat yogurt and is made available to Australian customers through Woolworths supermarkets.


Figure 2: Dairy Market, by Product Type, 2020 & 2030 (USD Million)Dairy Market, by Product Type, 2020 & 2030Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Dairy Category Insights


Based on category, the global dairy industry market data has been segmented into organic, and conventional. The conventional segment held the largest segment share in 2020. Conventional dairies usually come from cows raised on huge factory farms, often called "Concentrated Animal Feeding Operations" or CAFOs Animals are often kept in dirty and cramped conditions, requiring pasteurization These animals are sick and need antibiotics They are injected with growth hormones to make production more efficient Most milk-related foodborne illness outbreaks have occurred with pasteurized milk The low quality of this milk makes it weak and attracts all kinds of harmful insects and bacteria The process involves several steps ( homogenization, storage, transport, storage, etc making it more susceptible to bacterial contamination at each step With the advancement of technology, consumers are becoming aware of the harmful effects of conventional milk, which is hampering the segment growth over the forecasted timeframe. The conventional segment is anticipated to grow at a CAGR of 3.36% during the forecasted period.


September 2022 Skyr, a protein-rich yogurt was launched in the metro cities of India by the Milky Mist brand. The company is also planning to launch another yogurt, the Greek variety using Ultrafiltration technology.


April 2021 Dairy Farmers’ Thick & Creamy brand launched new yogurt products in two flavors. Guava & Lime flavor is made using citrus flavor and the slightly sweet flavor is a combination of sweet with yogurt. The products are launched through the retail stores Woolworths and Coles in Australia.


Dairy Distribution Channel Insights


based on distribution channels, the global dairy industry market data has been segmented into Store-based and non-store-based. The Store-based segment accounts for the largest market share of 84.50% in 2020. The store-based segment has been sub-segmented into supermarkets and hypermarkets, convenience stores, specialty stores, and others The supermarkets and hypermarkets sub-segment is expected to be the largest as these channels account for the maximum sales of dairy products Convenience stores also play a significant role in the distribution of dairy products Key dairy products manufacturers are expanding their product portfolio, which, in turn, is driving the market growth across the globe Innovation in flavors of dairy products is one of the main factors expected to boost sales of the products through the store based segment. Moreover, key manufacturers of dairy products emphasize promotional activities to increase awareness among consumers regarding the product, which is also anticipated to act as a major driver in the segment's growth Consumers prefer store-based channels as they provide a one-stop shopping experience.


Dairy Regional Insights


By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific dairy market accounts for the largest market share of USD 145,702.18 million in 2020. China dairy market is the most significant market for dairy in the Asia Pacific region It is majorly driven by the increased consumption of dairy products in the country India dairy market and the Indonesia dairy market also holds a significant market share in the region because of the increased population Moreover, increasing demand for western dairy products such as natural snacks and fermented dairy products such as sour milk and yogurt, along with product packaging innovation, are some of the key factors driving the dairy market growth in the region The demand for clean label products is also increasing among consumers, who are increasingly demanding transparency in dairy products This drives the market for organic, clean label dairy products in the region


The major countries studied are the U.S., Canada, Mexico, Germany, France, the UK, Italy, Spain,  China, Japan, India, Australia and New Zealand,  and Brazil.


Figure 3: DAIRY MARKET SHARE BY REGION 2020 (%)DAIRY MARKET SHARE BY REGION 2020Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


The dairy sector in Europe dairy market is the second biggest agricultural sector It represents more than 12 of the total agricultural output in Europe According to a recent report published by the Organization for Economic Cooperation and Development ( in Europe, overall per capita demand for fresh dairy products is stable to declining However, the composition of demand has been shifting over the past few years towards dairy fat, such as full-fat drinking milk and cream Consumers are influenced by recent studies that recreating increasing awareness about the health benefits provided by dairy fat Additionally, the growing consumer preference for less processed or healthier foods and potentially increased interest in at home baking in UK dairy market and France dairy market are driving the dairy market in the Europe region The largest percentage of total cheese consumption around the world occurs in Europe.


The North America dairy market is one of the prominent regions across the globe the US, Canada, and Mexico. is driven by the growing consumption of various dairy products such as butter, cheese, and yogurt The US dairy market holds the largest market share in the North America region According to the report published by the USDA Foreign Agricultural Service in December 2021 the consumption of cheese and butter has witnessed growth over the years. However, the consumption of fluid milk has witnessed a declining trend in the past few years. Moreover, market players are launching healthy products containing low content of saturated fats and high polyunsaturated fats The market for cottage cheese is emerging with a wide variety of flavors available and comprising higher protein content. These products also meet the demand of consumers with hectic schedules and seeking convenient on the go healthier snacks.


Dairy Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the Dairy market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, partnerships with local manufacturers in key markets, increased investments, and marketing initiatives to strengthen their presence. Competitors in the Dairy industry must offer innovative products that are trending to expand and survive in an increasingly competitive and rising market environment.


Some of the primary business strategies adopted by manufacturers in the global dairy industry to benefit clients and expand the dairy market sector include expansion, acquisition, agreements, and product launches.


Nestlé S A is a nutrition, health, and wellness company, which is primarily involved in the production, sales, and marketing of a wide range of nutrition and wellness products, including prepared dishes and cooking aids, milk-based products, pharmaceuticals, and ophthalmic goods, baby foods and cereals It operates through the seven business segments, namely powdered and liquid beverages, water, milk products, ice cream, nutrition, and health science, prepared dishes and cooking aids, confectionery, and pet care It offers various food products under the Milo, Nescafé, Maggi, Chef, Nestea, Stouffer's, Chef Mate, Sjora, Minor's, and Lean Cuisine brands It sells products in 186 countries. The company sells its products in 186 countries spread across the regions of Africa, the Americas, Asia, Europe, and Oceania.


Lactalis International is involved in manufacturing dairy products It offers a various wide range of dairy products such as milk, butter, cream, cheese, and others for the retail and food service networks It offers products under the President, Galbani, Lactel, Bridel, Ambassador, Santal, Pauls, Pride, Smeds, Penguin, and other brands The parent company of Lactalis International is Lactalis. The company exports more than 17000 containers to more than 100 countries in Asia, Africa, and the Middle East region.


News:


Varied Outcomes: While certain companies are announcing robust financial performance, others are encountering difficulties. Notably, Saputo Inc., a prominent dairy processor, experienced a decline in revenue and net profit during their third quarter of fiscal year 2024, ending on December 31, 2023, according to DairyNews.


Key Companies in the Dairy market include



  • Nestle S.A

  • Lactalis International

  • Danone S.A.

  • Fonterra Co-operative Group

  • FrieslandCampina

  • Arla Foods

  • Dairy Farmers of America

  • Yili Group

  • Saputo Inc.

  • Mengniu Dairy


Dairy Industry Developments


November 2020 Arla Foods launched new carbon net zero milk in Denmark under the brand Arla OKO This product launch extended Arla’s milk portfolio.  


July 2021 Saputo Inc acquired Wensleydale Dairy Products Limited Manufacturer of a variety of specialty and regional cheeses This acquisition extended its cheese portfolio.


November 2021 Lactalis acquired The Kraft Heinz Company’s natural, specialty, and certain other cheese businesses in the US This extended its cheese portfolio.  


Dairy Market Segmentation


Dairy Product Type Outlook



  • Milk

  • Cheese

  • Butter

  • Yogurt

  • Dairy Cream

  • Ice cream

  • Others


Dairy Category Outlook



  • Organic

  • Conventional


Dairy Distribution Channel Outlook



  • Store-Based

    • Supermarkets & Hypermarkets

    • Convenience Stores

    • Others



  • Non-Store-Based


Dairy Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia  and New Zealand

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



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