Dairy Products Market Analysis

Product (Milk, Cheese, Yogurt, Butter)

Milk segment is estimated to dominate dairy products market share of around 65% by the end of 2037. The increase in milk consumption in emerging nations can be attributed to its high nutritional value, as it provides ample amounts of protein and calcium.

Approximately 45% of milk output is utilized for the consumption as fluid milk. Over 35% of the milk is transformed into butter, while around 7% is changed into cheese. Another 4% is processed into milk powder, and the remaining portion is utilized for the production of various items such as yogurt and flavored milk satisfying the customer demand and thus, driving the market growth.

Distribution Channel (Hypermarket/supermarket, convenience store, online retailer)

In dairy products market, supermarket/hypermarket segment is projected to dominate revenue share of around 54% by the end of 2037. In 2021, the segment had a value of USD 256.1 billion and is expected to see a compound annual growth rate (CAGR) of 3.3%. It is also anticipated to maintain a market share of approximately 59% during the forecast period.

Hypermarkets and supermarkets were the primary players in the worldwide dairy manufacturing business. The ample shelf space provided in supermarkets and hypermarkets contributed significantly to the robust sales. The increased accessibility of many brands, clarity in reading product labels, and convenience in comparing different products contribute to the growing popularity of this segment for acquiring dairy products.

Our in-depth analysis of the global market includes the following segments: