The
top five players operating in the global dairy held a lion’s share
of 67.88% in the overall market in 2015. The leading players,
Fonterra Cooperative Group Ltd., Doehler Group, Agropur Ingredients,
Friesland Campina, and Kerry Group, have retained their position over
the past few years through expanding their product portfolio and
strengthening their position in several emerging economies. “Players
are expected to focus on developing nutritional food items for
children as they are an important target audience for the global
market,” states the lead author of this research report.
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exclusive Global strategic Business report:
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According
to the research report, the global dairy blends market is expected to
be worth US$4.59 mn by the end of 2024 as compared to US$2.15 mn in
2015. During the forecast years of 2016 and 2024, the global market
is likely to progress at a CAGR of 9.0%, observes Transparency Market
Research.
Europe
Assumes Lead in Global Market due to High Awareness about Benefits of
Dairy Blends
In
terms of geography, Europe is projected to lead the global market.
The regional market is poised to acquire a share of 35.91% during the
forecast period due to the growing awareness about consuming dairy
blends amongst overall consumers in Europe. The demand for bakery
products is anticipated to remain high all throughout 2016 and 2024
due to increasing inclination of consumers toward confectionary
items. Owing to these reasons, the bakery segment is anticipated to
rise at a CAGR of 7.8% during the forecast years.
Preference
for Convenient Food Items Favors Market Growth
The
increasing emphasis on fitness and health are the primary growth
drivers for the global
dairy blends market. It is a well-known fact that adequate
consumption of dairy products helps in building immunity and strength
to fight infectious diseases. Owing to this very reason, several
consumers are opting for including dairy blends in their everyday
diets. Rising disposable incomes, busy lifestyles, and increasing
focus on living healthy are the key components ensuring the continued
growth of the global market.
The
research report also indicated that growing number consumers are
opting for convenient food items due to lack of time for elaborate
meals. Survey shows that about 90% consumers prefer convenient eating
options, which is expected to boost the demand for products that use
dairy blends. Several emerging markets are expected to offer
lucrative opportunities to the global dairy blends market in the
coming years. Product innovation and differentiation are likely to be
cornerstones for expansion for several existing players in the coming
years. Analysts anticipate that the demand for bakery items will
remain at an all-time high. However, the demand for infant formula is
projected to witness a remarkable growth rate as several working
mothers will opt for it due to lack of time.
Health
Complications due to Dairy Products to Act as Growth Impediment
Though
the market has bright prospects, it is likely to suffer due to
several reasons. The primary reason for the retarded growth of the
market will be due to possibilities of complications for diabetic
patients after consuming dairy blends. The same can occur in cases of
patients suffering from gastrointestinal diseases along with the ones
suffering from obesity. Thus, patients with these diseases are
advised not to consumer dairy blends, which could hamper the growth
of the global market.
This
review is based on Transparency Market Research’s report, titled
“Dairy Blends Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2016 - 2024.”
The
global dairy blends market can be segmented as follows:
Global
Dairy Blends Market, by Forms
- Liquid
- Spreadable
- Powder
Global
Dairy Blends Market, by Application
- Infant Formula
- Bakery
- Beverage
- Ice cream
- Pharmaceutical Lactose
- Butter and Cheese Blends
- Others
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