Global Sales of Dairy Blends Market to Follow a Downward Trend Post 2029, with Continued Impact of COVID-19 Outbreak, Concludes a New FMI Study

The dairy blends market is projected to grow at an promising CAGR of 7.6% during the forecast period (2019 – 2029). A significant increase in consumer demand for nutritional substitutes to conventional milk products is a predominant factor driving the sales of dairy blends products. Key players are also targeting infant formula and baby food consumers, who seek increased customization in nutritional profiles. The rising demand from low-fat milk product alternatives will continue to boost growth of dairy blends market, reveals Future Market Insights (FMI).

“Consumers are increasingly concerned about their health and wellbeing. Consequently, a food with higher nutritive value has gained importance. This provides impetus to dairy blends producers, as their offerings are considered to be healthier than traditional dairy products,” says the FMI analyst.

Dairy Blends Market – Key Takeaways

  • Powdered dairy blends will remain a leading product in the market, driven by the demand for bakery and baby foods during the forecast period.
  • The bakery segment will hold the lead through the forecast period, on the basis of end use application.
  • The dairy mixture segment will account for a large market share, in terms of product type.
  • North America will hold a leading position in the global market share, while Europe and Asia Pacific excluding Japan will display high growth.

Dairy Blends Market – Key Driving Factors

  • The rising demand for healthy alternatives to traditional milk products is a major growth driver.
  • Rising demand from working parents for infant formula and baby food options remains a key influencer.
  • The easy substitution of milk and butter by dairy blends in bakery applications supports overall market growth.
  • Lower costs and longer shelf life of dairy blends goods is also a driver for global market growth.

Dairy Blends Market – Key Constraints

  • Strict standards of quality and production set up by international regulatory bodies will remain a challenge for market players.
  • Lack of widespread awareness about dairy blend products will also remain a major restraint for market players.

Competition Landscape

Key players in the dairy blends market are Agropur Ingredients, Fonterra Co-operative Group, Kerry Group, Abbott Nutrition, Doehler Group, Cargill Inc, Pacificblends Ltd., Advanced Food Products, Friesland Campina N.V., All American Foods Inc., Cape Food Ingredients, Agri-Mark Inc., and Hormel Specialty Products. Majority of these players are investing in expanding their product portfolios and optimizing their sourcing processes for raw materials. Moreover, a substantial lucrative opportunity in the industry is expected to result in a major influx of new entrants in the market.

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More About the Report

The FMI’s market research report of 300 pages offers comprehensive insights on dairy blends market. The market is analyzed on the basis of application (infant formula, ice cream, bakery, confectionery, butter & cheese blends, beverages, and others), flavor (regular and flavored), form (spreadable, powder, and liquid), and distribution channel (B2B and B2C) across seven key regions (North America, Latin America, Europe, APEJ, Japan, Oceania, and MEA).

Source Link: https://www.globenewswire.com/news-release/2020/03/31/2009054/0/en/FMI-Explores-Dairy-Blends-Market-Scenario-in-2020-Bakery-Industry-Remains-a-Key-Value-Creator.html

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

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