Global Dairy Industry
Market Report
2024
Dairy Industry Market size will be USD 891254.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.60% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Dairy Industry Market size will be USD 891254.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.60% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Dairy Industry Market Sales Revenue 2024 | $ 891254 Million |
Global Dairy Industry Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.6% |
North America Dairy Industry Market Sales Revenue 2024 | $ 356502 Million |
North America Dairy Industry Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 2.8% |
Middle East and Africa Dairy Industry Market Sales Revenue 2024 | $ 17825.1 Million |
Middle East and Africa Dairy Industry Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.3% |
South America Dairy Industry Market Sales Revenue 2024 | $ 44562.7 Million |
South America Dairy Industry Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4% |
Europe Dairy Industry Market Sales Revenue 2024 | $ 267376 Million |
Europe Dairy Industry Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 3.1% |
Asia Pacific Dairy Industry Market Sales Revenue 2024 | $ 204988 Million |
Asia Pacific Dairy Industry Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.6% |
Market Split by Dairy Product |
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Market Split by End Use |
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Market Split by Sales Channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Dairy Industry Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The dairy industry market is a crucial component of the global food and beverage sector, encompassing the production, processing, and distribution of various dairy products. From staple items like milk and cheese to indulgent treats like ice cream and yogurt, dairy products play a vital role in diets worldwide. With a diverse array of offerings catering to different tastes and preferences, the dairy industry serves as a cornerstone of nutrition and culinary enjoyment for billions of people.
This market is characterized by a complex ecosystem of producers, processors, distributors, and retailers operating at both local and international levels. Major multinational corporations, as well as smaller regional players, compete to meet the ever-growing demand for dairy products driven by factors such as population growth, rising incomes, and changing dietary habits.
While traditional dairy products remain popular, the industry is also witnessing a rise in demand for innovative and healthier alternatives, including plant-based dairy substitutes and functional dairy products fortified with vitamins and probiotics. Furthermore, consumer preferences for sustainability, animal welfare, and ethical sourcing are reshaping industry practices and driving companies to adopt more environmentally friendly and socially responsible approaches.
In August 2020, Nestlé India launched "MAGGI -Desh Ke Liye 2 Minute - Ek Chhoti Si Koshish”. MAGGI has been an integral part of Indian households for nearly four decades and is strongly anchored in our repertoire of culinary choices.
As income levels rise and urbanization accelerates worldwide, the demand for dairy products, including cheese, is expected to increase significantly. Urbanization brings about changes in lifestyle and dietary habits, with urban populations often having greater purchasing power and access to a wider variety of food options. With more people living in urban areas, there is a higher demand for convenient and processed foods, including cheese, which is versatile and widely enjoyed in various cuisines.
Additionally, as disposable incomes increase, consumers are more likely to incorporate dairy products into their diets as part of a more diverse and nutritionally rich food intake. These factors create a conducive environment for the growth of the cheese segment within the dairy industry, with opportunities for producers to innovate, expand their product offerings, and tap into new markets both domestically and internationally.
Population growth is a significant driver propelling market growth across various industries, including the dairy sector. As the global population continues to expand, particularly in emerging economies, the demand for dairy products is expected to rise steadily. With more mouths to feed, there is an increased need for staple foods like dairy, which provides essential nutrients such as protein, calcium, and vitamins. Moreover, population growth often correlates with urbanization, as more people move to cities in search of better opportunities. Urban populations tend to have higher purchasing power and access to a diverse range of food products, including dairy items like milk, cheese, and yogurt.
Furthermore, population growth isn't just about quantity but also demographic shifts. Changes in age demographics, such as an aging population in some regions, can also impact dairy consumption patterns. Older adults may seek dairy products for their calcium content to support bone health, contributing to sustained demand for dairy products.
While population growth is a significant driver of market growth in the dairy industry, it's essential to recognize that health concerns and dietary shifts can act as limiting factors, impacting sales. In recent years, there has been a growing awareness of health issues related to dairy consumption, including lactose intolerance, concerns about cholesterol levels, and saturated fats. These health concerns have prompted some consumers to reduce their intake of dairy products or seek alternatives.
Additionally, dietary shifts towards plant-based diets and veganism have gained traction, driven by concerns about animal welfare, environmental sustainability, and perceived health benefits. As a result, many consumers are opting for plant-based dairy alternatives such as almond milk, soy milk, and oat milk, which offer similar nutritional profiles without the drawbacks associated with dairy consumption.
The COVID-19 pandemic has had a significant impact on the dairy industry market, presenting both challenges and opportunities. Initially, the pandemic led to disruptions in the dairy supply chain, as lockdowns, travel restrictions, and social distancing measures disrupted production, distribution, and demand patterns. Restaurants, cafes, and other food service establishments, which are major consumers of dairy products, faced closures or reduced operations, leading to a decrease in demand for dairy products like cheese and butter.
Furthermore, the closure of schools and institutions disrupted the demand for dairy products used in school meal programs, affecting milk consumption in particular. Additionally, panic-buying behavior by consumers at the onset of the pandemic led to temporary shortages of dairy products in some regions as supply chains struggled to keep up with sudden spikes in demand.
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Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.
In February 2024, Deliciously Dairy: the innovation behind Ben & Jerry's oat-based ice creams. With a growing plant-based portfolio and consumers seeking ice cream experiences as indulgent as dairy, Ben & Jerry's has reformulated its non-dairy portfolio to use a new, extra smooth oat base. We speak to flavor guru João Piva to find out more.
In May 2021, Nutricia will introduce healthcare professionals to the open science education platform Danone Nutricia Campus. Besides the challenge of accessing the latest nutrition research, healthcare professionals are looking for the opinions of independent clinicians and academics. Danone Nutricia Campus is overseen by a not-for-profit foundation with the purpose of advancing the field of nutrition through open science, training, and education.
Top Companies Market Share in Dairy Industry Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The dominance of North America in the dairy industry market can be attributed to several factors. Firstly, the region boasts a well-established dairy infrastructure, including advanced farming practices, modern processing facilities, and efficient distribution networks. These factors contribute to the region's ability to meet domestic demand while also serving as a major exporter of dairy products to international markets. Additionally, North America benefits from a large and affluent consumer base with a strong appetite for dairy products.
The Asia Pacific region is witnessing an increase in the Milk category, reflecting changing dietary habits, rising incomes, and shifting consumer preferences across the region. This growth is driven by several key factors that are reshaping the dairy market landscape in Asia Pacific. One significant driver of the increase in the milk category is the region's rapid urbanization and expanding middle class. As urbanization accelerates and disposable incomes rise, more consumers in urban areas are incorporating milk into their diets as a convenient and nutritious source of protein, calcium, and other essential nutrients.
The current report Scope analyzes Dairy Industry Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the global Dairy Industry Market size was estimated at USD 891254.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 356501.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.8% from 2024 to 2031. In North America, Milk maintained a dominant market share throughout the forecast period, primarily due to its status as a staple and versatile dairy product with widespread consumer appeal. As a rich source of essential nutrients such as calcium, protein, vitamins, and minerals, milk is valued for its contribution to overall health and nutrition. Its versatility allows for various consumption methods, including drinking plain, adding to cereals or coffee, and using it as an ingredient in cooking and baking.
Country Analysis
According to Cognitive Market Research, the global Dairy Industry Market size was estimated at USD 891254.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 17825.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. Bakery and confectionery products hold a prominent market share within the food and beverage industry, driven by their widespread popularity and diverse offerings that cater to a wide range of consumer preferences. The category encompasses a vast array of baked goods, including bread, pastries, cakes, cookies, and chocolates, among others, which are enjoyed by consumers of all ages and across various occasions.
According to Cognitive Market Research, the global Dairy Industry Market size was estimated at USD 891254.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 44562.71 million in 2024 and will grow at compound annual growth rate (CAGR) of 4.0% from 2024 to 2031. Bakery and confectionery products hold a prominent market share within the food and beverage industry, driven by their widespread popularity and diverse offerings that cater to a wide range of consumer preferences. The category encompasses a vast array of baked goods, including bread, pastries, cakes, cookies, and chocolates, among others, which are enjoyed by consumers of all ages and across various occasions.
According to Cognitive Market Research, with a market value of USD 891254.2 million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 3.1% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 267376.26 million. Milk maintained a dominant market share throughout the forecast period, primarily due to its status as a staple and versatile dairy product with widespread consumer appeal. As a rich source of essential nutrients such as calcium, protein, vitamins, and minerals, milk is valued for its contribution to overall health and nutrition. Its versatility allows for various consumption methods, including drinking plain, adding to cereals or coffee, and using it as an ingredient in cooking and baking.
According to Cognitive Market Research, the global Dairy Industry Market size was estimated at USD 891254.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 204988.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031. Milk held the major market share over the forecast period, primarily due to its status as a staple and versatile dairy product with widespread consumer appeal. As a rich source of essential nutrients such as calcium, protein, vitamins, and minerals, milk is valued for its contribution to overall health and nutrition. Its versatility allows for various consumption methods, including drinking plain, adding to cereals or coffee, and using it as an ingredient in cooking and baking.
Global Dairy Industry Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Dairy Industry Industry growth. Dairy Industry market has been segmented with the help of its Dairy Product, End Use Sales Channel, and others. Dairy Industry market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Milk held the major market share over the forecast period, primarily due to its status as a staple and versatile dairy product with widespread consumer appeal. As a rich source of essential nutrients such as calcium, protein, vitamins, and minerals, milk is valued for its contribution to overall health and nutrition. Its versatility allows for various consumption methods, including drinking plain, adding to cereals or coffee, and using it as an ingredient in cooking and baking. Furthermore, milk's popularity stems from its affordability and accessibility, making it a household staple in many regions around the world.
Cheese is the fastest-growing category over the forecast period, propelled by several key factors driving consumer demand and market expansion. Firstly, changing dietary habits and increasing urbanization worldwide have led to a surge in cheese consumption. As consumers adopt more Westernized diets and lifestyles, the popularity of cheese as a versatile ingredient and standalone snack has soared. Moreover, cheese's versatility and wide range of flavors, textures, and types appeal to diverse consumer preferences, driving its popularity across various demographic segments. From indulgent varieties like aged cheddar and creamy brie to more exotic options like blue cheese and feta, there is a cheese to suit every taste and occasion.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Dairy Industry Industry. Request a Free Sample PDF!
According to Cognitive Market Research, Bakery and confectionery products hold a prominent market share within the food and beverage industry, driven by their widespread popularity and diverse offerings that cater to a wide range of consumer preferences. The category encompasses a vast array of baked goods, including bread, pastries, cakes, cookies, and chocolates, among others, which are enjoyed by consumers of all ages and across various occasions. One of the key factors contributing to the prominence of bakery and confectionery products is their appeal as indulgent treats and comfort foods.
Snacks & Savouries is the fastest-growing category over the forecast period, propelled by several key factors that are reshaping consumer preferences and driving market expansion. Firstly, changing lifestyles and busy schedules have led to a rise in snacking occasions, with consumers seeking convenient and portable options to satisfy their hunger cravings between meals. Snacks and savories offer a convenient solution, providing a quick energy boost and satiating hunger pangs on the go. Moreover, the growing trend towards healthier eating habits has fueled demand for snacks and savories that are perceived as nutritious and wholesome.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Dairy Industry market report 2024 Edition by contacting our team.
According to Cognitive Market Research, supermarkets/hypermarkets hold a prominent market share, serving as key channels for the distribution and sale of a wide variety of consumer goods, including groceries, household items, electronics, apparel, and more. These large-format retail stores offer consumers a one-stop shopping experience, providing convenience, variety, and competitive pricing under one roof. One of the primary reasons for the prominence of supermarkets and hypermarkets is their ability to offer a vast assortment of products catering to diverse consumer needs and preferences. With expansive floor space and extensive product offerings, these retail formats provide consumers with a comprehensive selection of brands, sizes, and price points, enabling them to fulfill their shopping needs in a single location.
Convenience Stores are the fastest-growing category over the forecast period, propelled by several key factors that are reshaping consumer preferences and driving market expansion. Firstly, changing lifestyles and busy schedules have led to an increased demand for convenient shopping solutions, with consumers seeking quick and hassle-free access to essential items. Convenience stores offer a convenient alternative to traditional supermarkets and hypermarkets, providing a curated selection of products in easily accessible locations, such as urban centers, transportation hubs, and residential neighborhoods.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Several states have imposed restrictions on cattle imports due to the increasing spread of bird flu in dairy cows. Maryland became one of at least 18 states to limit interstate movement of dairy cattle, as the virus moves beyond the Southwest and affects herds in multiple states. The U.S. Department of Agriculture has not issued federal quarantine orders, and the agency's Animal and Plant Health Inspection Service is not recommending that states hold cattle shipments. However, the USDA strongly recommends minimizing the movement of cattle as much as possible, with special attention to evaluating risk and factoring that risk into movement decisions. The virus has emerged in more than 20 dairy herds across seven states, with the most recent detection in livestock being confirmed in North Carolina. Import restrictions vary by state, but most have quarantine measures in place for failure to comply. The risk of avian influenza spreading to the general public remains low, but a farm worker recently tested positive for the virus after contact with affected cattle in Texas. Key trading partners Canada and Mexico are closely monitoring how avian influenza affects U.S. cattle, with symptoms ranging from reduced milk output and fever to loss of appetite and thicker milk consistency.
Disclaimer:
Dairy Product | Milk, Cheese, Butter, Yogurt, Creamers, Others |
End Use | Bakery & Confectionery, Snacks & Savouries, Ready Meals, HoReCa, Dietary Supplements, Other |
Sales Channel | Supermarket/Hypermarket, Convenience Stores, Specialty Stores, E-commerce, Others |
List of Competitors | China Mengniu Dairy Company Ltd, Danone SA, Inner Mongolia Yili Industrial Group Co. Ltd, Nestlé SA, Unilever PLC |
This chapter will help you gain GLOBAL Market Analysis of Dairy Industry. Further deep in this chapter, you will be able to review Global Dairy Industry Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Dairy Industry Market Trends North America Dairy Industry Technological Road Map North America Dairy Industry Market Drivers North America Dairy Industry Market Restraints North America Dairy Industry Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Dairy Product Analysis 2019 -2031, will provide market size split by Dairy Product. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Dairy Product Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by End Use Analysis 2019 -2031
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Chapter 12 Market Split by Sales Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Dairy Industry market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Milk have a significant impact on Dairy Industry market? |
What are the key factors affecting the Milk and Cheese of Dairy Industry Market? |
What is the CAGR/Growth Rate of Bakery & Confectionery during the forecast period? |
By type, which segment accounted for largest share of the global Dairy Industry Market? |
Which region is expected to dominate the global Dairy Industry Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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