The dairy industry is deemed to be the promising industry owing to the wide range of applications in the food & beverage sector. Though dairy products are known for excellent resource of important nutrients, some processing methods such as spray-dying, ultra-heat treatment, heating and pasteurization have led to loss of particular nutrients.
An exclusive interview between market researcher and an industry analysts was considered and following key points has been excerpted.
What do you think will be the performance of global fortified dairy products market?
Well, the global fortified dairy products market is anticipated to witness an impressive expansion throughout the forecast period (2017-2026), according to Future Market Insights. The global market is anticipated to procure over US$ 150 Bn by the end of 2026.
Why do you think the market will expand at impressive CAGR?
Health conscious people have been demanding more for yogurts, witnessing them as the healthier alternatives to the dairy products such as milkshakes, ice-creams, etc., which are rich in calories. Increased penetration of fortification technology into yogurts has further boosted sale of functional food products. Some countries have understood the importance of fortification and have adopted practice for fortifying dairy products. This is another key factor boosting sales of such products. However, comparatively high cost of fortified dairy products is likely to limit the expansion of the market over the forecast period.
What according to you are the key challenges to manufacturers?
With increasing use of fortified dairy products, the fortifying agent manufacturers have been focusing on identification of new micronutrients to develop new and innovative solutions for manufacturing end-products. The provision of necessary calcium content while retaining appeal properties and taste of the products is the key challenge that is prevailing manufacturers of fortified dairy products.
How will you explain region-wise performance of the market?
The market in the APEJ region is anticipated to retain its dominance in the global market, with sales estimated to reach approximately US$ 50 Bn, in terms of revenues by the end of 2026. The market in the APEJ region is poised to witness highest CAGR throughout the assessment period. The APEJ market is likely to be followed by North America. Europe is projected to remain the second most lucrative market across the globe. However, the market in North America is likely to expand at relatively higher CAGR than that of Europe through 2026.
According to you, which product will lead the market?
The milk formula and the powder is likely to remain at the forefront in the global market, trailed by milk products and milk. Flavored milk projected to remain as the fast-selling product in the market by the end of 2026. On the other hand, the sales of dairy-based milk and yogurt is likely to record a parallel growth through 2026.
What are the prominent players in the market?
Well, Danone, Fonterra Group Cooperative Limited, Nestlé S.A., BASF SE, General Mills, Inc., and Bright Dairy & Food Co., Ltd. are some leading players operating in the global market. However, some companies such as Dean Foods Company, Arla Foods UK Plc, China Modern Dairy Holdings Ltd., and GCMMF Ltd. have also consolidated their footprints in the global market.
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