DAIRY MARKET - GROWTH, TRENDS, AND FORECASTS (2023 - 2028)

 Over the anticipated period, the dairy industry is anticipated to grow at a CAGR of 5.35 percent.

 The outlook for the dairy industry over the long run is still favourable. The main factor driving dairy product sales globally is the demand from consumers for quick and wholesome on-the-go snacks. Dairy products are thought of as a healthy snack option because they naturally contain a lot of calcium.

The health advantages of probiotic beverages, particularly their capacity to strengthen the immune system and digestion, have been drawing customers from all over the world. Consumers are increasingly drawn to low-fat, lactose-free, and calcium-rich dairy snack options thanks to health and wellness trends.

Functional dairy products are nutritious dairy items that contain probiotics, vitamins, and minerals, as well as substances that improve energy. Milk containing omega-3 fatty acids, cheese, and yoghurt containing probiotics are examples of dairy products that hold a considerable market share. These dairy products have additives that promote health and provide physiologic advantages in addition to essential nutrition.

Food with functional features, such as sour milk, are in high demand due to consumer trends towards healthier lifestyles, which has a positive impact on the market under study throughout the review period. 

The largest geographic region of the global dairy market is Asia-Pacific. This is a result of the substantial population in this area. Dairy consumption has increased in the Asia-Pacific area, which benefits children's nutrition and the standard of living for an expanding middle class. Liquid milk is without a doubt the most widely used and consumed dairy product in this area.

The market under study is cutthroat. This is because both indigenous and foreign players are present. Nestlé SA, Lactalis Corporation, Danone SA, Fonterra Co-operative Group Limited, and FrieslandCampina Food Company are a few of the market's key participants. The majority of these businesses are actively engaged in mergers and acquisitions and product innovation. Additionally, the leading international corporations control substantial portions of the sector. These major players are able to maintain their dominance over other regional players in the sector because to the aforementioned techniques.

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