Dairy Blends Market size is expected to witness a substantial growth from 2017 to 2024.
Posted: Nov 08, 2017
Dairy Blends Market size is expected to witness a substantial growth from 2017 to 2024. The milk products have become integral part of daily meals as it provides taste and health to the consumers. The rising awareness of the product has triggered the demand across the globe. The major factors driving the industry growth includes health benefits, cost effectiveness, and rising demand for convenience foods.
Health is considered as the major reason for the rise in the industry. In the past few years, consumers have become more health conscious, which has raise the demand for the product. Milk based products are usually imported at a very high price while blends are imported at much lower price which enhances the flavor and manage the cost formulation.
These products are perishable in nature and are carried out in refrigerated containers. The products are distributed to the confectionaries, institutions (prisons, hotels) and wholesalers. It reaches to the users through hyper stores, superstores, urban and rural grocer.
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Unawareness about the useful benefits of the product and global price decline of the milk blend products are few challenges that is restraining the growth of the dairy blends market. Food and beverage manufacturers prefer to use butter and other conventional products instead of milk blend products. Concern among the manufacturers towards milk blend that they have deteriorate the taste of the consumable product is one of the challenge for the industry.
The dairy blends market is divided into milk based mixtures, milk based, and non-milk based ingredients, and others. The share is majorly divided between milk and non-milk based ingredients. It has the wide range of varieties, including infant formula, bakery, cocoa and confectionary. The product is used in ice cream, yogurt, feed, butter and others. In this division bakery has the highest share. The blend product are available for the consumers in spreadable, liquid and power. Spreadable accounts for the largest share in the dairy blends market.
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In 2016, Europe dominates the dairy blends market share and is expected to grow exponentially with rising awareness regarding its benefits such as proper nutrition. Asia Pacific will witness major growth over the forecast period. This is due to increase in the disposable income of the consumers, change in the consumer buying behavior, now seek for healthy products with low calories and proper nutrition will propel the growth in the region.
The U.S has observed a decent growth in the past few years and is the fourth largest global milk based product exporter, which has increased the demand for dairy blends market. This region is the largest service provider of whey protein which has captured the major health industry of the world.
Some of the key industry participants of the dairy blends market are Anchor, Abbott Nutrition, Advanced Food Products, Agri – Mark Inc., Agropour Ingredients, All American Foods, Friesland Capina, Cape Food Ingredients, Hormel Specialty Products, Cargill, Lactopur and others. The mergers in the dairy blend market includes the joint venture of Prairie Farms and Swiss Valley Farms. The merger will give Prairie Farms a cheese and milk blend powders, and readymade access to the export industry. The continued growth in this industry has presented new opportunities for the international producers. The factor includes popularity of food products, changing trade rules globally and opportunities in the food sector.
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