The
leading five vendors in the global market for dairy blends held a
Herculean share of 67.88% in 2015, states Transparency Market
Research (TMR) in a research report. The core companies are Kerry
Group, Friesland Campina, Agropur Ingredients, Doehler Group, and
Fonterra Cooperative Group Ltd. These companies have successfully
retained their position in the market over the last couple of years
through expansion in many developing economies and expansion of the
product portfolio. These vendors are anticipated to concentrate on
developing healthy food products for children as they are one of the
main target audiences for the market to progress.
According
to a TMR analyst, “The global market for dairy blends is
anticipated to rise at a 9.0% CAGR from 2016 to 2024. In 2015, the
market was worth US$2.15 mn and is expected to rise to a valuation
US$4.59 mn by 2024.” Based on application, the market is projected
to be led by the segment of bakery owing to the rising inclination of
consumers towards bakery products and confectionary goods. The
segment of infant formula is also expected to gain traction over the
years ahead. Region-wise, the global
dairy blends market is expected to be dominated by Europe
over the course of the forecast period owing to the rising awareness
among consumers in the region regarding the benefits of consuming
dairy products and dairy blends. The region is anticipated to account
for a share of 35.91% over the forecast period.
Market
Growth to be Favored owing to High Consumption of Convenient Food
The
expanding accentuation on fitness and wellbeing are the essential
development drivers for the worldwide dairy blends market. Adequate
utilization of dairy items helps in building invulnerability and
quality to battle irresistible ailments. Inferable from this very
reason, several customers are deciding on incorporating dairy mixes
in their ordinary eating regimens. Rising dispensable salaries,
occupied ways of life, and expanding focus on healthy living are the
key facets guaranteeing the incessant development of the worldwide
market.
The
developing number shoppers are settling on convenient food products
because of the absence of time for expand suppers. The survey
demonstrates that around 90% shoppers favor helpful eating
alternatives, which is relied upon to support the demand for items
that utilize dairy blends. A few developing markets are relied upon
to offer lucrative chances to the worldwide dairy blends market in
the coming years. Item development and separation are probably going
to be foundations for extension for a few existing players in the
coming years. Investigators envision that the interest for pastry
kitchen things will stay at an unsurpassed high. In any case, the
interest for newborn child recipe is anticipated to witness a
noteworthy development rate as a few working moms will decide on it
because of absence of time.
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Wellbeing
Complications because of Dairy Products to Act as Growth Impediment
Despite
the fact that the market has splendid prospects, it is probably going
to endure because of a few reasons. The essential purpose behind the
hindered development of the market will be because of conceivable
outcomes of confusions for diabetic patients in the wake of devouring
dairy blends. The same can happen in instances of patients
experiencing gastrointestinal maladies alongside the ones
experiencing weight. Consequently, patients with these ailments are
exhorted not to shopper dairy blends, which could hamper the
development of the worldwide market.
This
review of the market is based on a recent report by Transparency
Market Research, 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 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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