Dairy Products Market to Reach $1,167.93 Billion by 2031 - Exclusive Report by Meticulous Research®

The growth of the dairy products market is primarily driven by the growing population & changing consumption habits, increasing per capita consumption of fresh dairy products, rising consumer awareness towards nutritional food, and increasing milk production. However, increasing demand for dairy alternatives and growing vegan population restrain the growth of this market to some extent.

Furthermore, the growing technological advancements in the dairy industry and emerging economies are expected to generate significant growth opportunities for the stakeholders in this market. However, the high prevalence of lactose intolerance & allergies to milk and the increasing consumer awareness regarding vegan diets are the major challenges impacting the growth of the dairy products market.

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Moreover, the increasing demand for organic milk and increasing awareness of health & wellness are major trends in the dairy products market.

Key Players:

The report includes an extensive assessment of the key strategic developments by leading market participants in the industry over the past five years (2021–2024). The dairy products market has witnessed several product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the dairy products market are Arla Foods Group (Denmark), Nestlé S.A. (Switzerland), Danone S.A. (France), Lactalis Group (France), Fonterra Co-operative Group Limited (New Zealand), The Kraft Heinz Company (U.S.), DMK Group (Germany), Gujarat Co-operative Milk Marketing Federation Limited (GCMMF) (India), Dairy Farmers of America, Inc. (U.S.), Meiji Holdings Co., Ltd. (Japan), Royal FrieslandCampina N.V. (Netherlands), Saputo Inc. (Canada), Inner Mongolia Yili Industrial Group Co., Ltd. (China), China Mengniu Dairy Company Limited (China), Emmi Schweiz AG (Switzerland), and Hatsun Agro Product Ltd (India).

The dairy products market is mainly segmented by type (milk {liquid and powder}, cheese, butter, dessert, yogurt, and other dairy products), category (lactose-based dairy products and lactose-free dairy products), animal source (cow, buffalo, goat, and others), nature (conventional and organic), distribution channel (supermarket, hypermarket, discounters, specialty store, online retail, and other distribution channels), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyses the regional and country-level markets.

Dairy Products Industry Overview: Latest Developments from Key Industry Players

• In March 2024, the Gujarat Co-operative Milk Marketing Federation (GCMMF) (India) launched fresh milk in the U.S. in partnership with the Michigan Milk Producers Association (MMPA) and is planning to introduce various dairy products.
• In November 2023, Nestlé S.A. (Switzerland) launched N3 milk in China, which contains prebiotic fibers, low lactose content, and 15% fewer calories.
• In February 2023, First Milk (U.K.) acquired B V Dairy (U.K.), a producer of chilled dairy products.
• In July 2022, Arla Foods Group (Denmark) invested EUR 210 million in its Taw Valley site in the U.K. to advance production technology for mozzarella production.

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Key Findings in the Dairy Products Market Study:

Among all the types studied in this report, the cheese segment is projected to register the highest CAGR of 5.2% during the forecast period, owing to the increasing awareness regarding the nutritional benefits of cheese as its calcium, protein, and vitamin content; growing popularity of fast-food items like burgers, pizzas, and sandwiches; increasing demand for ready-to-eat food products; growing popularity of western cuisines; and increasing demand for flavored cheese products.

Among all the categories studied in this report, the lactose-free dairy products segment is projected to register the highest CAGR during the forecast period, owing to the rising health concerns, increasing prevalence of lactose intolerance, increasing preferences for healthier diets, high availability of lactose-free dairy products with increasing product launches by manufacturers, and increasing demand for lactose-free milk, yogurt, cheese, and other dairy products.

Among all the animal sources studied in this report, in 2024, the cow segment is expected to account for the largest share of 81.2% of the dairy products market, owing to the widespread availability of cow milk due to the significant number of cows being reared and its high acceptability among consumers due to various health benefits. Additionally, cow milk is preferred for its higher water content, which aids in easy digestibility due to its lower protein and fat levels, further supporting market growth.

Among all the nature studied in this report, the organic segment is projected to register the highest CAGR during the forecast period of 2024–2031, owing to the rising spending on premium food products, growing awareness regarding health, an increasing trend for clean-label foods, and the increasing availability of organic dairy food products in the market. Further, the increasing prevalence of cancer due to the presence of antibiotic residues in milk food given during animal treatment is supporting the growth of the market.

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Among all the distribution channels studied in this report, the online retail segment is projected to register the highest CAGR of 5.3% during the forecast period of 2024–2031, owing to the rising preference of consumers for online shopping, easy buying of products at affordable prices, and rising presence of food delivery platforms.

Based on geography, the dairy products market is majorly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is projected to register the highest CAGR of 5.1% during the forecast period of 2024–2031, owing to factors such as increasing consumer demand for processed food products, growing foreign investment, increasing demand for western dairy products such as yogurt, sour milk, etc., and technological advancements in dairy processing.

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Scope of the Report:

Dairy Products Market Assessment—by Type

• Milk
• Liquid
• Powder
• Cheese
• Butter
• Dessert
• Yogurt
• Other Dairy Products

Dairy Products Market Assessment—by Category

• Lactose-based Dairy Products
• Lactose-Free Dairy Products

Dairy Products Market Assessment—by Animal Source

• Cow
• Buffalo
• Goat
• Others

Dairy Products Market Assessment—by Nature

• Conventional
• Organic

Dairy Products Market Assessment—by Distribution Channel

• Supermarkets
• Hypermarkets
• Discounters
• Specialty Stores
• Online Retail
• Other Distribution Channels

Dairy Products Market Assessment—by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Russia
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Australia
• New Zealand
• Indonesia
• Rest of Asia-Pacific
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America (RoLATAM)
• Middle East & Africa

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Dairy Products Market Research Summary

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