The Global Functional Dairy Market is valued at USD 201.47 billion in 2022 and is projected to reach a value of USD 359.32 billion in 2030 expanding at a CAGR of 7.5% over the forecast period of 2022-2030.
The functional dairy products are defined as the products that are recognized as having additional nutrition beyond the basic nutrition available in dairy products. It contains most crucial elements of balanced diet and it works as energy-booster for consumers.Additionally, the consumers are becoming more aware of how a healthy diet influences short-term and long-term health and wellness. The consumers are shifting towards nutrient-dense food in order to attain high nutrition beyond basic nutrition.Thus, the functional dairy food products market has undoubtedly showed the lucrative growth in the forecasted period. Functional dairy food products include milk, yogurt, cheese, butter, and many more.
Functional dairy products are distinguished from regular dairy products by the presence of bioactive peptides, oligosaccharides, probiotic bacteria, antioxidants, vitamins, conjugated linoleic acid, particular proteins, highly absorbable calcium, organic acids, and other biologically active constituents with a variety of bioactivities.
Key Market Trends
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the rising awareness about the benefits associated with the consumption of dairy products.
Also, the functional dairy food products provide consumers with an identified health benefit over and above basic nutritional value that is diverting consumers’ daily diet towards functional dairy food products. Thus, this factor has fuelled the growth of the functional dairy market in the forecasted period.
Additionally, the rising lifestyle and chronic diseases that includes, high blood pressure and obesity among population also lead to generate high demand for functional dairy products because of the additional health benefits of functional dairy products that is high nutrition value in milk, cheese, yogurt, and other products.
Also, the functional dairy product is getting more trending and demanding because of high social media and marketing campaigns by key players that is directly impacting youth and health-conscious people and helps to improve the sales of products. This has fuelled the market growth.
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Segmental Analysis of the Market
Based on Product Type
- Yogurt
- Cheese
- Butter
- Milk
- Others
The yogurt segment has dominated the market growth over the forecast period. This is because of the rising consumption and the health benefits associated with it.
Based on End Use Application
- Frozen food
- Bakery
- Confectionary
- Beverages
- Clinical nutrition
The bakery segment has dominated the market growth over the forecast period. This is because of the rising usage of functional dairy products in the bakery.
Based on Distribution Channel
- Online Store-based Retailing
- Store-based Retailing
- Hypermarket/Supermarkets
- Convenience Stores
- Grocery Stores
- Specialty Stores
The store-based retailing segment has dominated the market growth over the forecast period. This is because of the easy availability of the products in the stores.
North America is anticipated to amplify at a considerable CAGR
The Global Functional Dairy Market is segmented into 5 major regions namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa. Among these, North America has dominated the regional segment of the market over the forecast period. This is because of the increasing awareness levels among people for a healthy diet and its benefits, also the introduction of advanced equipment for milk processing in North America.
Competitive Landscape
Some of the prominent companies operating in the market are
- Archway Food Group
- General Mills Inc.
- Anand Milk Union Limited
- Dairy Farmers of America Inc.
- Kraft Foods Inc.
- Arla Foods UK Plc.
- Nestle SA
- Parmalat S.P.A
- Megmilk Snow Brand Co. Ltd
- Dean Foods Company
- Fonterra Co-operative Group
- Lactalis International
- Danone SA
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Frequently Asked Questions
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