The
global dairy blends market is dominated by five players, namely
Doehler Group, Agropur Ingredients, Fonterra Cooperative Group Ltd.,
Friesland Campina, and Kerry Group. In 2015 they collectively held
67.88% share in the overall market. They have managed to retain their
position by strengthening their presence in several emerging
economies and expanding their product portfolio. Cargill Inc.,
Galloway Company Inc., Royal Friesland Campina N.V., Intermix
Australia Pty Limited, Advanced Food Products LLC, and Cape Food
Ingredients are other prominent players operating in the market.
As
children form an important target audience for the global
dairy blends market, companies should focus on developing
nutritional food items for them. In addition, many companies are also
taking the route of mergers and acquisitions to stay ahead of the
curve. Recently, Orkla Food Ingredients (OFI), a Norway-based company
acquired 100% shares of Laan Heiloo B.V., a sales and distribution
company in the Netherlands. Orkla Food Ingredients holds a dominant
position in the Netherlands soft-serve ice cream market and through
recent acquisition, the company will have a strong footing in the
gelato segment as well.
According
to the TMR report, the global diary blends market is projected to be
valued at around US$4.59 mn by the end of 2024 from its initial value
of US$2.15 mn in 2015, and is anticipated to grow at an impressive
CAGR of 9.0% during the forecast period of 2016 to 2024.
High
Nutritional Value Food in Europe to Gain Prominence
Geographically,
the global dairy blends market is segment into North America, Europe,
Asia Pacific, Latin America, and the Middle East and Africa. Europe
is expected to lead the market during the forecast period due to
greater consumer awareness about food with proper nutrition. Consumer
preference for low-calorie and low-fat foods will drive the market in
this region. Asia Pacific is another lucrative market for dairy
blends due its large population base and the market is expected to
grow exponentially over the forecast period.
In
terms of application, the bakery segment is known to largely
contribute to the market and is projected to further grow during the
forecast period due to increasing popularity of confectionary items
among consumers. The infant formula application segment is also
pegged to gain traction as a large number of working mothers will opt
for it.
Healthy
Lifestyle to Boost Demand for Dairy Blends
The
global demand for dairy blends is fast gaining prominence due to high
prices of traditional dairy products and growing demand for
convenience foods. As more and more consumers are getting health
conscious, dairy blends are proving for the unmet nutritional needs.
They are known to offer health benefits and protect from infectious
diseases. The market is further driven by the rising consumption of
convenience foods. Busy lifestyle is drawing people towards
time-saving foods, hence the demand for dairy blends is augmenting.
Moreover, dairy blends can be used with other ingredients like cocoa
powder, sugar, butter, dextrin and vegetable fats, thereby
supplementing the market growth.
On
the contrary, lack of awareness in regards to the health benefits of
dairy blends is the primary factor acting as a hindrance for the
market growth. Not many consumers know that gastrointestinal
problems, diabetes, and obesity can be resolved to an extent with
consumption of dairy blends, thus abstaining the market from
developing further.
This
review is based on the findings of a TMR report titled ‘Dairy
Blends Market (Form - Liquid, Spreadable, and Powder; Application -
Infant Formula, Bakery, Beverage, Ice cream, Pharmaceutical Lactose,
and Butter and Cheese Blends) - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2016 - 2024.’
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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