“The dairy blends market projected to grow at a CAGR of 8.1%.”
The dairy blends market is projected to reach USD 3.56 billion by 2022, at a CAGR of 8.1% from 2016. The market is driven by factors such as high demand for food products with low fat content, rise in demand for convenience food, and increase in prices of traditional dairy products. The demand for dairy blends from emerging markets such as the Asia-Pacific region is also a driver. The manufacturers’ concerns that dairy blends negatively affect the taste of their food products are restraining the growth of the dairy blends market.
“The spreadable form led the dairy blends market in 2015.”
The spreadable form dominated the global dairy blends market, owing to the wide range of applications in industries such as bakeries, yogurts, ice creams, cheeses & butter blends, infant formulas, and feeds. The fact that dairy blends are formed using healthy vegetable oils along with protein-containing dairy ingredients adds to the demand in the spreadable segment.
“Europe to lead in terms of both value and volume between 2016 and 2022.”
People in Europe have become conscious towards content in food products and scrutinize the ingredients being used by companies. This high-level of awareness has resulted in the demand for low-calorie, and low-fat food in the European region. As dairy products are associated with obesity, gastrointestinal problems, and diabetes, food & beverage companies are investing in innovation to produce various nutritional, fat-free dairy products to the consumer demand, hence driving the dairy blends market in Europe.
The breakdown of primaries on the basis of company, designation, and region, conducted during the research study is mentioned as follows:
- By Company Type: Tier 1 – 60%, Tier 2 – 25%, and Tier 3 – 15%
- By Designation: Director Level – 35%, C Level – 40%, and Others – 25%
- By Region: North America – 20%, Europe – 30%, Asia-Pacific – 40%, and RoW – 10%
Key players in the dairy blends market are Fonterra Co-operative Group Ltd. (New Zealand), D?hlerGroup (Germany), Agropur Ingredients (Canada), Royal FrieslandCampina N.V. (Netherlands), Cargill, Incorporated (U.S.), Advanced Food Products LLC (U.S.), Galloway Company (U.S.), Cape Food Ingredients (South Africa), and Kerry Group plc (Ireland). These companies started new manufacturing facilities & regional offices in developing countries and acquired other food companies to strengthen their presence in the dairy blends market.
The dairy blends market, based on type, has been segmented into dairy mixtures, dairy/non-dairy ingredients, dairy as functional ingredient, dairy as carrier. Dairy/non-dairy ingredients accounted for the largest market share in 2015. Based on application, the market has been segmented into ice cream, yogurt, infant formula, bakery, feed, butter & cheese blends, beverages, and others. In the same year, the bakery segment accounted for the largest share of the dairy blends market. On the basis of form, the market has been segmented into spreadable, liquid, and powder, with spreadable dairy blends having dominated the market in 2015. In the same year, Europe, among all the regions, accounted the largest share, while Asia-Pacific is projected to be the fastest-growing market between 2016 and 2022.
Following are the reasons to buy this report:
- To get a comprehensive overview of the global dairy blends market
- To gather information about the top players in this industry, their product portfolios, and key strategies adopted
- To gain insights into the main countries/regions in which the global dairy blends market has growth prospects