Dairy Blends Market Projected To Exhibit Robust CAGR of 7.9% For The Forecast Period From 2019 To 2025 : Grand View Research Inc.

 

The global dairy blends market size is expected to reach USD 6.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.9% over the forecast period. The market is expected to witness significant growth due to increase in consumption of dairy products with high nutritional value. Dairy blends are low fat and cost effective alternatives to milk and butter. This is expected to increase market growth and drive the demand in the projected period.

Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. The demand for frozen food products, fruits & vegetables, eggs, flour, and whole grains, among others, witnessed a considerable increase during the early stages of the crisis. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

Powdered dairy blends accounted for the largest market share owing to rapid adoption of the product in developed regions like North America and Europe. High product awareness among the population of these regions is expected to propel market growth during the forecast period. However, use of spreadable blends is increasing significantly. They are used in day-to-day consumption as alternatives to butter. Rise in other applications of these products such as sauces and salad toppings is expected to positively influence market growth in the next few years.

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Bakery products occupied the maximum market share owing to increase in the overall bakery market and consumer preference for healthy bakery options. However, consumption of dairy blends has witnessed significant growth in infant formulas owing to high nutritional value. This is anticipated to fuel market growth over the next few years.

Further key findings from the report suggest:

• Based on product form, the liquid segment is projected to ascend at a CAGR of 5.6% over the forecast period
• Manufacturers are focusing on non-dairy blends like soy-based to cater to the needs of health conscious consumers. Additionally, dairy prices are expected to increase significantly during the forecast period, which may hamper dairy blends market growth
• In May 2018, Arla Groups, U.K. launched Lurpak Softest, a new soft spreadable blend that can be used as an alternative to butter
• Increasing urbanization and high product awareness in countries like Brazil are anticipated to fuel market growth during the forecast period.

Asia Pacific held the largest market share in 2018 due to presence of the major dairy manufacturers in Australia and New Zealand. This region is also anticipated to witness substantial growth owing to increasing birth rates, which will propel the demand for infant formulas. However, North America and Europe are anticipated to witness steady growth due to strict regulations on food blends and infant foods. Other regions of the world are expected to witness less demand for the product due to lack of awareness.

The working women population has witnessed significant growth in recent years due to an increase in urbanization in countries like India and China. Hectic lifestyle has made it difficult for women to cook baby food. Dairy blends are excellent alternatives to traditional baby foods like rice and porridge as they reduce the time required for cooking baby food. Moreover, these products contain all the essential nutrients required for the healthy growth of the baby. Hence, the preference for dairy blends is increasing significantly, which is expected to fuel market growth from 2019 to 2025.

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Some of the key players operating in the market are Fonterra; Kerry; Royal FrieslandCampina N.V.; Agropur; Dohler Group; Intermix Australia Pty Ltd.; Abbott Nutrition; Johnson & Johnson; Cargill Inc.; and Cape Food Ingredients.

The global market is moving towards fragmentation due to awareness regarding the use of the products as well as its cost-effectiveness. Many major players like Fonterra, Kerry, Agropur, and Döhler are innovating varieties of blends and creating awareness by attractive packaging. Another trend adopted by major manufacturers is enhancing the nutritional content of blends by fortification. This is expected to increase market growth in the forecast period.

Grand View Research has segmented the global dairy blends market on the basis of product form, application:

Dairy Blends Product Form Outlook (Revenue, USD Million, 2015 - 2025)

·         Spreadable

·         Powder

·         Liquid

Dairy Blends Application Outlook (Revenue, USD Million, 2015 - 2025)

·         Ice Cream

·         Infant Formula

·         Bakery Products

·         Other

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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