Dairy Blends Market to Hold a High Potential for Growth by 2019 to 2029
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, foods 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, substantial lucrative opportunities in the industry is expected to result in a major influx of new entrants in the market.
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