The global Dairy market in estimated at approximately to US$ 630 billion for 2016 and is expected to grow marginally during 2017–2020. Growth is expected to come mainly from the developing countries in Asia-Pacific, MEA and East European regions, while countries in the developed regions like North America and Western Europe are expected to register marginal growth.
Globally, United States, China, and India are the top three markets, while China, India and Russia are expected to have the highest growth rate. Western Europe region is the largest market with Germany & France being the largest ones.
The global Dairy market is highly fragmented with the top 5 brands holding less than 6% market share. Economic and political volatility, rising feed prices and a widening gap between demand and supply are the key challenges faced by the Dairy industry.
Trends & opportunities
Only 15% of American consumers snack on yogurt after dinner, opening up opportunities to target the post-dinner daypart with indulgent dessert-inspired flavors to broaden yogurt consumption occasions in the US.
Yogurt is the top category for food and drink product launches making “high protein” claims in 2015, and opportunities continue to exist for all dairy categories to further capitalize on the protein trend thanks to the food’s naturally high protein content.
Greek style and authentic Greek yogurt is the fastest growing yogurt category.
The dairy-free trend continues to threaten traditional dairy consumption as consumers avoid such products not only for allergy reasons, but also as a healthy lifestyle choice or to facilitate weight loss.