The
global dairy blends market is extremely consolidated as the top five
players accounted for a combined share of 67.88% in the overall
market in 2015. Transparency Market Research (TMR) notes that the
leading companies—Fonterra Co-operative Group Limited, Agropur
Ingredients, Doehler Group, FrieslandCampina, and Kerry Group-have
dominated the market over the past few years gaining from their
diverse product portfolio and consolidating their positions across
various emerging economies. In the coming years, an increasing number
of players exploring lucrative avenues will focus on developing
nutritious foods for children, observes TMR. In addition, several
companies are focusing on mergers and acquisitions to gain a
competitive edge over others.
The
global
dairy blends market was valued at US$2.15 mn in 2015.
Expanding at a CAGR of 9.0% during 2016–2024, the opportunities in
the market is anticipated to be worth US$4.59 mn by the end of 2024.
Benefits
of Low-Fat Diet to Drive Rapid Uptake of Dairy Blends in Europe
Based
on application, the major segments are infant formula, bakery,
beverages, ice cream, pharmaceutical lactose, and butter and cheese
blends. Amongst the major applications, the bakery segment leads the
global dairy blends market on account of soaring popularity of
confectionery products, such as cocoa preparations. A substantial
chunk of demand for milk-based infant formula is expected to come
from working mothers, thereby bolstering the consumption of dairy
blends along the forecast period. The bakery segment is poised to
rise at a CAGR of 7.8% from 2016 to 2024.
The
major regional markets for dairy blends market are Europe, North
America, Asia Pacific, the Middle East & Africa (MEA), and Latin
America. Of these, the market for dairy blends in Europe is projecin
this regional market will be driven by the increased inclination of
consumers toward meeting their nutritional requirement through dairy
blend products. The Europe market for diary blends is projected to
attain a share of 35.91% by the end of forecast period.
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Product
Innovations in Dairy Blend Formulations to Unlock Exciting
Opportunities
Rising
disposable incomes, increased focus on health and nutrition, and the
growing popularity of low-fat and low-carb foods are the key factors
propelling the global dairy blends market. Hectic lifestyle, coupled
with the increasing inclination toward healthy living, has led to a
surge in demand for convenience foods. This is expected to boost the
market over the forecast period. The proven benefit of dairy blends
in combating a variety of infectious diseases has spurred the uptake
among consumers of all groups.
However,
the limited awareness of dairy blends and their benefits in less
developed regions is a key factor hampering its demand in these
regions. In addition, the indiscriminate consumption of dairy blends
may cause ailments such as diabetes and various gastrointestinal
problems among people, which is likely to impede the market growth to
an extent. Nevertheless, the presence of vast unmet nutritional needs
in several emerging markets is anticipated to offer promising
opportunities to manufacturers and vendors. Furthermore, dairy blends
present an opportunity to manufacturers of dairy food products
introduce milk solids and milk replacers without incurring
significant costs.
A
large number of manufacturers in developed regions, such as Europe
and North America, are focusing on product innovations and launching
products with advanced formulations to attract consumers.
Furthermore, advancement in blending technology is expected to open
promising opportunities for diary product manufacturers.
The
study presented here is based on a report by Transparency Market
Research (TMR) 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.”
The
global dairy blends market is segmented based on:
Form
- Liquid
- Spreadable
- Powder
Application
- Infant Formula
- Bakery
- Beverage
- Ice cream
- Pharmaceutical Lactose
- Butter and Cheese Blends
- Others
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