Dairy Blends Market Size Projected to Surge USD 8.95 Billion Growth by 2033, Exhibit a CAGR of 7.83%


The Brainy InsightsThe Brainy Insights

The Brainy Insights

The global dairy blends market is anticipated to grow from USD 4.21 billion to USD 8.95 billion in 10 years. The market’s expansion is fueled by the wide array of available flavours. Moreover, the escalating demand from the nutraceutical sector for protein-rich dairy blends, including variants like whey protein blends, has emerged as a significant driver, further propelling the market’s growth.

Newark, May 20, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 4.21 billion in 2023 global dairy blends market will reach USD 8.95 billion by 2033. There is increasing interest in functional food and beverages fortified with health-enhancing ingredients such as probiotics, prebiotics, vitamins, minerals, and antioxidants. Dairy blends enriched with functional ingredients offer opportunities to address specific health situations and cater to consumers seeking products with added nutritional benefits. In addition, consumer demand for clean-label products made with natural, minimally processed ingredients is driving opportunities for dairy blends formulated with clean-label ingredients. Manufacturers can leverage clean label trends by using natural flavours, colours, and additives and avoiding artificial/synthetic ingredients in dairy blend formulations.

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Scope of Dairy Blends Market

Report Coverage

Details

CAGR

7.83% from 2024 to 2033

Market Size in 2023

USD 4.21 Billion

Market Size by 2033

USD 8.95 Billion

Largest Market

North America

Base Year

2023

Forecast Year

2024 to 2033

Historical Year

2020-2022

Segments Covered

Type, Form, Application

Regions Covered

North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Furthermore, with growing awareness of environmental sustainability, there is a demand for dairy blend products packaged in eco-friendly and sustainable packaging materials. Manufacturers can explore opportunities to develop innovative packaging solutions using recyclable, biodegradable, or compostable materials to reduce environmental impact and meet consumer expectations. Most importantly, the proliferation of e-commerce platforms and direct-to-consumer channels offers opportunities for dairy blend manufacturers to extend their reach and business with consumers directly. Online retailing allows for targeted marketing, product customization, and convenient purchasing options, driving growth in the e-commerce segment of the dairy blends market.

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Key Insight of the global Dairy Blends market

Asia Pacific is expected to witness the highest market growth over the forecast period.

Rising disposable personal incomes, rapid urbanization, and changing lifestyles in the Asia Pacific drive shifts in dietary patterns towards convenience foods and Westernized diets. The increasing adoption of Western-style eating habits, including dairy-based products, fuels demand for dairy blends in the region. Additionally, Asia Pacific is home to a large and rapidly growing population, particularly in countries such as China, India, and Indonesia. Urbanization trends, rising incomes, and changing consumer preferences create a burgeoning market for dairy blends driven by increased consumption in urban centers. Moreover, as awareness of health and wellness grows across Asia Pacific, there is a rising demand for healthier alternatives to traditional dairy products. Dairy blends offer reduced-fat, low-calorie options that appeal to health-conscious consumers seeking nutritious and functional food. Besides, the expanding middle-class population in the Asia Pacific has greater purchasing power and a growing inclination towards premium and value-added food products. Dairy blends, positioned as convenient and affordable alternatives to pure dairy products, resonate with the preferences of middle-class consumers in the region.

In 2023, the dairy mixtures segment dominated the market with the largest share of 34.71% and revenue of 1.46 billion.

The type segment is divided into dairy mixtures, dairy/nondairy ingredients, dairy as a functional ingredient, dairy as carrier and others. In 2023, the dairy mixtures segment dominated the market with the largest share of 34.71% and revenue of 1.46 billion.

In 2023, the spreadable segment dominated the market with the largest share of 47.25% and revenue of 1.98 billion.

The form segment is classified into liquid, powder and spreadable. In 2023, the spreadable segment dominated the market with the largest share of 47.25% and revenue of 1.98 billion.

In 2023, the bakery segment dominated the market with the largest share of 24.51% and revenue of 1.03 billion.

The application segment includes bakery, butter & cheese spreadable, beverages, ice cream, infant formula, yogurt and others. In 2023, the bakery segment dominated the market with the largest share of 24.51% and revenue of 1.03 billion.

Advancement in market

In October 2023: Nestlé has unveiled its new “affordable and nutritious” instant powder, NIDO, in Africa (Central and West). Crafted with a fusion of milk and plant-based components, NIDO combines the wholesome benefits of milk with locally procured soy. Packed with important nutrients like protein and fiber, it also serves as a rich source of iron and calcium, providing a balanced and nourishing option for consumers in the region.

Market Dynamics

Driver: Urbanization and changing lifestyles.

Urbanization has seen a significant rise in urban populations, leading to an increased pace of life and a shift in dietary habits. As people juggle work, commuting, and various responsibilities, the need for quick and hassle-free meal options has become more pronounced. This aspect has created a niche market for food products that offer convenience without compromising taste or nutrition. Dairy blends are a versatile solution to this demand, offering a range of options that can be easily incorporated into different dishes or consumed independently. Whether in the form of powdered mixes for instant beverages, spreads for convenient sandwich fillings, or liquid concentrates for quick meal preparation, dairy blends provide consumers with the flexibility to adapt to their fast-paced lifestyles. Moreover, the availability of dairy blends in various forms caters to different preferences and dietary requirements. For instance, powdered dairy blends appeal to those looking for convenient options for on-the-go consumption. At the same time, liquid concentrates are preferred by individuals seeking ready-to-use ingredients for cooking or baking.

Restraint: Price volatility of raw materials.

For dairy blends, which often rely on a combination of dairy and plant-based ingredients, price volatility in these raw materials can pose significant challenges for manufacturers. Sudden spikes or price drops can disrupt production planning and procurement strategies, leading to margin pressures as manufacturers struggle to maintain profitability amidst rising costs. Moreover, the impact of price fluctuations extends beyond the manufacturing stage and directly affects consumers. When the cost of raw materials rises, manufacturers may be forced to pass on these increased expenses to consumers through higher product prices. This factor can impact product affordability and consumer purchasing behaviour, potentially leading to shifts in demand or decreased consumption.

Opportunity: Market expansion in emerging economies.

The dairy blends market is experiencing notable growth in Asia-Pacific due to the region’s burgeoning urban population. As urbanization progresses, there is a corresponding shift towards convenient and affordable food options. Dairy blends cater to this demand by offering a versatile and cost-effective alternative to traditional dairy products. Additionally, increasing disposable incomes in countries like China, India, and Indonesia further bolsters the market as consumers seek value-added dairy products. Similarly, Latin America showcases a promising landscape for dairy blends. The region’s growing middle class and urbanization trends increase demand for convenient food options. As dietary habits evolve, dairy blends have a rising preference due to their affordability and versatility. Moreover, countries like Brazil, Mexico, and Argentina exhibit substantial potential for market expansion, driven by increasing consumer awareness regarding health and nutrition. Massive urbanization and changing lifestyles drive the demand for dairy blends in Africa. As urban populations grow, there is a greater need for convenient and accessible food solutions. Dairy blends offer an attractive option, providing a combination of dairy ingredients in a convenient format. Additionally, rising disposable incomes in certain African countries contribute to the growing demand for value-added dairy products. Overall, the convergence of urbanization, increasing disposable incomes, and shifting dietary habits in Asia-Pacific, Latin America, and Africa underscores the significant growth opportunities for the dairy blends market in these regions.

Challenge: Ingredient sourcing and supply chain complexity.

Due to their complex composition, dairy blends often require sourcing ingredients from multiple suppliers. This multi-supplier approach is necessary to obtain the specific components needed to achieve the desired blend characteristics. However, managing inputs from various suppliers introduces challenges to the supply chain. One of the primary complexities arises from coordinating the procurement of different ingredients, each sourced from separate suppliers. This aspect involves ensuring the timely delivery of each component to the blending facility, as any delay can disrupt production schedules and lead to inventory shortages or production bottlenecks. Furthermore, the quality and consistency of…



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2024-05-20 16:00:00

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