The dairy nutrition market has garnered significant traction over the recent years on account of growing demand for fortified dairy products. Fortified dairy products are enriched with vital nutrients including vitamins, probiotics, minerals, and prebiotics to match the daily nutritional requirements of people across different age groups. These fortified dairy products not only provide balanced nutrition but also help boost immunity, build stronger bones and promote overall growth and development. The global dairy nutrition market is estimated to be valued at US$ 16.98 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand for fortified dairy products has been a key growth driver for the dairy nutrition market. Fortified dairy products are fortified with essential micronutrients including vitamins A, D, B12 and calcium which help address widespread nutritional deficiencies. According to studies, nearly 2 billion people suffer from hidden hunger due to lack of key micronutrients. Fortified dairy products are thus effective in combating micronutrient deficiencies. Moreover, busy lifestyles and hectic schedules have prompted people to opt for fortified dairy products that can fulfill their daily micronutrient quota in a timely, cost-effective and convenient manner. This has augmented demand for fortified milk powders, cheese, yogurt and butter, thereby fueling growth of the global dairy nutrition market.
SWOT Analysis
Strength: The dairy nutrition market has strong demand for dairy proteins and probiotics owing to their health benefits. Probiotics aid in digestion and proteins help build muscles.
Weakness: Excessive consumption of dairy products can cause bloating, acne and weight gain in some individuals due to lactose intolerance or milk allergies. Also, there are concerns regarding antibiotics and growth hormones used for dairy cattle.
Opportunity: Growth in demand for sports and clinical nutrition is translating into opportunities for dairy-based variants. Emerging economies offer massive untapped markets.
Threats: Stringent regulations around antibiotic residues pose challenges for dairy farmers. Plant-based alternatives also threaten dairy sales.
Key Takeaways
The global Dairy Nutrition Market Analysis is expected to witness high over the forecast period owing to rising awareness about importance of nutrients. The market size for 2023 stands at US$ 16.98 billion and is projected to reach US$ 28.15 billion by 2030, reflecting a CAGR of 5.7%.
Regional analysis: North America currently dominates the market due to high per capita dairy consumption. However, Asia Pacific is emerging as the fastest growing region on the back of westerization of diets and expanding middle class. Countries like India, China and Japan are major consumers of dairy foods.
Key players: Leading players like Pfizer Inc., Teva Pharmaceuticals, Mylan N.V. dominate the generic drug markets for conditions requiring dairy-based supplements. Local players in Asia are also intensifying competition through affordable offerings. Companies are innovating newer formulations and delivery formats to appeal diverse demographics globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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