Market Overview
Global Dairy Spreads Market is likely to exhibit robust growth over the forecast period from 2020 to 2024, according to the latest research report from Market Research Future (MRFR). The global dairy spreads market is analyzed in full detail in the report, which gives readers a clear idea about the major factors operating on the market and likely to affect the market’s growth trajectory over the forecast period. Major drivers and restraints affecting the global dairy spreads market are profiled in the report in order to show readers how they are likely to affect the market’s trajectory in the coming years. Major economic factors affecting the global dairy spreads market are also profiled in the report to provide readers with an accurate picture of the economic environment of the market. Leading players in the global dairy spreads market are also profiled in the report in order to give readers a clear idea of the competitive landscape of the market and a picture of the key strategies that can be used to garner significant revenue in the dairy spreads market.
The global dairy spreads market has primarily grown due to the growing demand for dairy spreads in emerging parts of the world. The growing disposable income of consumers in emerging parts of the world has driven steady growth in the dairy spreads market, as consumers have become more aware of western products such as cheese and butter. The growing demand for bakery products such as bread and pastries is also likely to be a major driver for the global dairy spread market, as dairy spreads are majorly used along with bakery products. The growing awareness in emerging regions regarding the products available in the bakery industry is thus likely to be a major driver for the dairy spread market over the forecast period.
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The global dairy spread market is likely to witness significant product development with the aim of adding various natural flavors and ingredients, such as nuts and herbs, to cheese and butter products. Adding ingredients such as herbs and nuts increases the flavor quotient of dairy spreads and makes them more palatable. This is likely to remain a key driver in the global dairy spreads market over the forecast period.
Competitive Analysis
Leading players in the global Dairy Spreads Market include Alouette Cheese USA LLC, Organic Valley, Land O’Lakes Inc., Bel Brands Inc., Parag Milk Foods Ltd., Lactalis Group, The Kraft Heinz Company, Britannia Industries Limited, Amul, and Arla Foods amba.
In September 2019, Country Crock debuted new plant butter products derived from plant matter. The growing demand for plant-based fats and dairy is likely to be a key driver for the dairy spreads market over the forecast period.
In August 2019, Cornell University researchers developed a water-based butter product consisting of 80% water, making it lighter and healthier than conventional butter products, in which the water content may be lower than 20%.
Segmentation
Global Dairy Spreads Market has been segmented based on type, packaging type, distribution channel, and region.
By type, the dairy spreads market has been classified as cheese, butter, and others.
Based on packaging type, the global dairy spreads market has been segregated into tubs, tubes/pouches, and others.
Based on distribution channel, the global dairy spreads market is segmented into store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, convenience stores, and others.
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Regional Analysis
North America is likely to dominate the global dairy spreads market over the forecast period, followed by Asia Pacific and Europe. The strong presence of dairy manufacturers in North America and the increasing interest of North American consumers in bakery products is likely to be a major driver for the dairy spreads market in the region over the forecast period. The dairy spreads market in North America and Europe is likely to be dominated by strong product development in the area of flavored dairy spreads, as conventional, unflavoured dairy spread products have gone out of fashion due to their ubiquity. Asia Pacific is also likely to remain a major regional market for dairy spreads over the forecast period due to the growing demand for dairy spreads from emerging economies such as India, China, Japan, and South Korea.
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