The
global dairy blends market features a high degree of competition on
account of presence of a large number of large, mid-sized, and
small-sized firms. Savvy players in the dairy blends market are
focused on acquisitions and expansions to stay competitive in this
market. Introduction of novel products with new flavors is also a key
growth strategy that leading players in the market have adopted. Some
of the prominent participants in the global
dairy blends market are Fonterra Cooperative Group Ltd.,
Agropur Ingredients, Kerry Group, Doehler Group, and Royal
FrieslandCampina N.V.
According
to a report by Transparency Market Research (TMR), the global dairy
blends market is predicted to display moderate growth for the
forecast period between 2017 and 2022. In terms of revenue, the
global dairy blends market is anticipated to expand at a moderate
5.8% CAGR between 2017 and 2022, for the market to be worth
US$3,789.3 mn by the end of 2022. The market was evaluated to be
worth US$2,853.7 mn in 2017.
The
global dairy blends market is studied on the basis of form, product
type, and region. Amongst all product type segments, the segment of
dairy mixtures is displaying the leading year on year growth of
US$71.5 mn each year. On the basis of form, the market is divided
into spreadable, liquid, and powder. The spreadable segment dominated
the market in the recent past on the back of its widespread usage in
place of margarine and butter.
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The
key regions into which the global dairy blends market is divided are
North America, Europe, Latin America, Asia Pacific except Japan,
Japan, and the Middle East and Africa. North America, powered by the
U.S. is expected to dominate the global dairy blends market vis-à-vis
revenue in 2017. The region is expected to hold on its dominant
position until 2022.
Low
Cost Factor and Low Fat Content Boosts Demand for Dairy Blends
“The
primary growth drivers of the global dairy blends market include
higher prices of traditional dairy commodities and health benefits of
dairy blends, says an analyst at TMR. The high cost of dairy products
in comparison to dairy blends is leading to the uptake of the latter.
This is because dairy products are perishable and need cold chains
and safe refrigeration until they reach the end-use consumer. On the
contrary, dairy blends have a long shelf life and do not require cold
chains for transportation.
The
low fat content of dairy blends over butter and margarine is also
leading to the increased demand for dairy blends. This is because
dairy blend is not 100% butter leading to its demand among health
conscious consumers. The manufacture of dairy blends either involves
butter blends that are mixed with vegetable oils, or processed butter
fat that are free from saturated fat.
Virtue
of Dairy Blends to be used with Other Food Ingredients Benefits
Market
Apart
from this, the demand for dairy blends is being driven because of the
virtue of dairy blends to be used with other ingredients such as
butter, sugar, cocoa powder, vegetable fats, and dextrin. Dairy
blends when added to soy or other protein not only enhances the
flavor of the product, but makes it more affordable due to the cost
effective factor of soy protein.
Expanding
food industry across the world, increasing awareness of
nutraceuticals among consumers, and increasing popularity of foods
such as pizza and burger are some other drivers behind the growth of
dairy blends market. The use of dairy blends in the manufacture of
packaged juice is also favoring the growth of dairy blends market.
The
review is based on the findings of a report, titled “Dairy Blends
Market (Product type - Dairy Mixtures, Dairy/Non-Dairy Ingredients,
Functional Ingredients, and Carrier Dairy Blends; Form - Powder Dairy
Blends, Liquid Dairy Blends, and Spreadable Dairy Blends) - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 -
2022.”
The
global dairy blends market is segmented as follows:
Dairy
Blends Market, by Product Type
- Dairy Mixtures
- Dairy/Non-Dairy Ingredients
- Functional Ingredients
- Carrier Dairy Blends
- Others
Dairy
Blends Market, by Form
- Powder
- Spreadable
- Liquid
Dairy
Blends Market, by Region
- North America
- Latin America
- Europe
- Asia Pacific except Japan
- Japan
- Middle East and Africa
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