Dairy Blends Market size is $3.2Bn in 2019, growing at a CAGR of 7.9% during the forecast period 2020-2025. The dairy blends are dairy mixtures based on concentrated cream and butter. It is made from butter blends which are further mixed with, vegetable oils or from processed butter fat which are free from any type of saturated fat. These blends can be mixed and blended with ingredients like salt, sugar, vegetable oils and flavorings depending on the taste and preferences of the consumers. Dairy blends are widely used across various industries, including infant nutrition and baby food, frozen dessert, chocolate and confectionery, dietary supplements and beverage industries. In ice cream industries, dairy blends are used as a replacement of milk solids and are generally used for the preparation of infant formula, which has a high consumption volume across the globe.
By Product Type – Segment Analysis
In 2019, Dairy Mixtures segment dominated the Dairy Blends Market in terms of revenue is estimated to grow at a CAGR of 8.5%. According to the Food and Agriculture Organization (FAO), more than 6 billion people approximately consume milk products and milk on a regular basis currently dominating the dairy mixtures segment. The dairy mixture is used as a base to form a dairy product such as processed cheese, cream cheese, yogurt, and others and has a wide range of varieties, in infant formula, bakery, cocoa and confectionary. The dairy mixture includes a protein powder having greater than 40 percent protein, a dairy powder, water, and salt to make dairy mixture non-dusting and friable. The dairy powder is added in an amount effective to minimize agglomeration of the protein powder during subsequent hydration so that smooth dairy product is formed abetting towards market’s growth.
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Geography – Segment Analysis
In 2019, the North America region dominated Dairy Blends Market in terms of revenue with a market share of 34% owing towards the increase in the disposable income of the consumers, change in the consumers preference for healthy products with low calories and proper nutrition. The U.S has observed a decent growth in the past few years and is the fourth largest global milk based product exporter, overall dairy exports were $6.03Bn in 2019 which resulted into the increased demand for dairy blends market. North America has the largest service provider of whey protein that captured major health industry of the world. The producers of dairy blends in this region provide their consumers with different options and source for nutritional intakes such as baking mixes, beverages, snacks, and others in this region are key factors in the growth of the Dairy Blends Market. Europe is projected to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Dairy Blends Market
Increase of Health-Conscious People
The increase in health consciousness among customers and the nutritional benefits of these products have encouraged the consumers to opt for dairy blends, as it has various health benefits like enhanced immune function, and a reduced risk of many diseases, like diabetes. Healthy alternatives, such as dairy snacks, are convenient to grab on-the-go, and are also nutrient dense, providing vitamins, minerals, and energy that fuel the body is driving the dairy blend market. Also, increase in the number of working women in the corporate world has led to a rise in the consumption of infant formulas as they reduce the preparation time required to cook baby food enhances towards the growth of the market.
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Challenges – Dairy Blends Market
Lack Of Dairy Blends Manufacturers
There is a lack of manufacturers for dairy blend products as the food and beverage manufacturers are turning to other conventional products is hindering growth of the market. The high capital investments for equipment and strict regulations for the consumer safety are restraining the growth of the market. In addition, indiscriminate consumption of dairy blends is set to cause various gastrointestinal problems and ailments such as diabetes etc., which is another major factor hampering growth to the global market.
Dairy Blends Industry Outlook
Product Launches was the key strategy of the players in the Dairy Blends Industry. Dairy Blends top 10 companies include Advanced Food Products LLC, Agropur Ingredients, Cape Food Ingredients, Dohler Group, Fonterra Co-Operative Group Limited, Kerry Group, All American Foods, Friesland Capina, Hormel Specialty Products and Cargill Corporation.
In February 2020, Cargill Corporation launches plant based patty and ground products for maintaining consistency in the taste of costumers and by providing high-quality protein. This helps in attracting many consumers and thus aids to its productivity of sales.
In May 2016, Hormel Specialty Products acquired Justin’s® Specialty Nut Butter Brand. The acquisition is set to support Hormel Specialty Products at further accelerating its efforts to digitize the company and its business model.
The increasing demand for convenience food is likely to be the major driving factor for the market’s growth.
Increase in the health awareness related to the nutritional benefits of dairy blends product is set to propel the growth of the market.
Europe region is anticipated to record the fastest growth rate during the forecast period 2020-2025.
Related Reports :
A. Milk Replacers Market
B. Dairy Alternative (Beverage) Market
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