Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global dairy market is estimated to grow at a moderate rate of around 5% during the forecast period. The increasing population is one of the primary factors driving the demand for dairy products including milk, cheese, and butter among others and hence driving the market growth. Moreover, higher disposable income coupled with increasing health concerns also tends to propel the demand for dairy products across the globe. Global milk production has grown significantly in recent years. According to the Food and Agriculture Organization (FAO), global milk production has grown nearly 2.0% in 2020 to reach a volume of 906 million tons. The upsurge in milk output has been primarily driven by yield improvements, a considerable increase in dairy cattle numbers, and strong demand across the globe.
Market Segmentation
The global dairy market has been analyzed on the basis of product type, form, distribution channel, and region. Based on the product type, the market is segmented into milk, cheese, butter, yogurt, and others. Milk products segment is estimated to hold a prominent share in the market. Based on form, the market is bifurcated into fresh products and processed products. Freshly consumed dairy products that are unprocessed or only slightly processed (for instance, pasteurized or fermented) dominate the global dairy market.
Further, on the basis of distribution channel, the market covers the analysis of conventional retail and modern retail. Modern retail segment further includes supermarket/hypermarket, specialty stores, and online retail. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Structure and Competition Landscape
The growth of the global dairy market is characterized by the presence of players operating in the market. Some of the prominent players that contribute significantly to the market growth include Lactalis International, Nestle S.A., Dairy Farmers of America Inc., Danone S.A., Yili Group, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Arla Foods amba, China Mengniu Dairy Company Limited, Saputo Inc., Unilever PLC, DMK Deutsches Milchkontor GmbH, Meiji Holdings Company, Ltd., Savencia Fromage & Dairy, and The Kraft Heinz Company, among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market,
• In December 2021, Michigan Milk Producers Association announced the acquisition of Superior Dairy in Canton, Ohio, a subsidiary of LEL Operating Co. The acquisition would enhance the company's innovation and product diversity.
• In July 2019, Dreamery - a consumer brand of Fonterra Future Dairy, has been launched to cater a wide range of consumers in India. Dreamery is a joint venture between global dairy nutrition company Fonterra and India-based Future Consumer. Products included in the Dreamery range are yogurts among others.
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