NEWARK, Del, Sept. 13, 2022 (GLOBE NEWSWIRE) — According to the IMF, the global functional dairy products market size is expected to grow at a CAGR of 4.3% during 2022-2032. He stood at $42.2 Bn in 2022 and should reach $64.3 Bn end of 2032.
Functional dairy products are recognized as having additional nutrition beyond the basic nutrition available in dairy products. They contain the most crucial elements of a balanced diet and work as an energy booster for consumers. Additionally, consumers are increasingly aware of how healthy eating influences short- and long-term health and well-being.
In response to this, consumers are turning to nutrient dense foods to achieve high nutrition beyond basic nutrition. Hence, the functional dairy products market is expected to show lucrative growth over the forecast period. Functional dairy products include milk, yogurt, cheese, butter and many more. Among these, milk and cheese are expected to hold large shares due to the high level of consumption in the world.
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Bioactive peptides, oligosaccharides, probiotic bacteria, antioxidants, vitamins, conjugated linoleic acid, specific proteins, highly absorbable calcium, organic acids and other biologically active components with an array of bioactivities have been associated with functional dairy products, thus distinguishing them from ordinary dairy products. some products.
Key insights from market research
- The North American Functional Dairy Market is Expected to Record 2.8% CAGR between 2022 and 2032
- The Japanese market for functional dairy products will grow at 3.6% CAGR between 2021 and 2031.
- The Indian market for functional dairy products will grow at 5.7% CAGR between 2022 and 2032.
- The European market for functional dairy products is expected to grow at 3.10% CAGR between 2022 and 2032.
- Top 3 Countries in the Global Functional Dairy Products Market are Expected to Generate a Share of 33.8% in the forecast period.
“Functional dairy products offer consumers various health benefits in addition to basic nutritional value, resulting in a shift in consumers’ daily diet towards functional dairy products. This should feed expansion of the market for functional dairy products over the planned period,” said senior analyst at IMF.
Nutritional Benefits of Functional Dairy Products to Increase Consumption Worldwide
Due to the additional health benefits of functional dairy products such as the high nutritional value of milk, cheese, yogurt, and other similar products, the global market is expected to grow at a steady pace. Additionally, changing consumer lifestyles and the increasing prevalence of chronic diseases such as high blood pressure and obesity among an ever-growing population are driving the demand for functional dairy products.
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In the current scenario, the global functional dairy business is gaining strength due to technological advancements by manufacturers to provide better quality products and services. Thus, the scope of functional dairy products improves considerably.
As a result, the functional dairy industry has become one of the largest contributors to the global economy and it will continue to grow over the next decade. Functional dairy products are also becoming more popular in terms of demand due to the increase in social media marketing initiatives by key players, which has a direct impact on young people and health-conscious consumers and contributes to boost product sales.
Competitive Landscape: Functional Dairy Products Market
Some of the major companies offering functional dairy products 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 SPA, Megmilk Snow Brand Co. Ltd, Dean Foods Company, Fonterra Co-operative Group, Lactalis International, Danone SA and others.
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Future Market Insights in its new offering provides an unbiased analysis of the Functional Dairy Products market showcasing historical demand data (2017-2021) and forecast statistics for the period 2022-2032. The study discloses compelling insights into the Functional Dairy Products Market based on Type (Yogurt, Cheese, Butter, Milk and Others), End Use (Retail/Household, HoReCa and F&B Industry) and Channel distribution (b2b and b2c) in seven major regions.
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market Context
3.1. Market dynamics
3.2. Scenario forecast
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