Global Dairy Blends Market size was valued at $3.95 Billion by 2019, and is anticipated to grow at a CAGR of 6.65% during the forecast period 2020-2025. The Global Dairy Blends Market growth rate is attributed to the rise in birth rates has increased the demand for infant formula and baby food. Dairy blends are condensed milk or butter and butter based dairy mixtures. It is made from butter blends that are blended with vegetable oils, or from saturated fat-free butter fat that is refined. One of the benefits of the milk blend is that it is spreadable because it contains vegetable oil and can thus be consumed with bread. Dairy blends can be mixed and blended, depending on the taste and tastes of customers, with other ingredients such as salt, vegetable oils, sugar, fragrance and flavorings. The use of dairy blends gives the products an absolute and true taste enhancement. Blending dairy blends together with any other source of protein provides customers with many health benefits.
However, owing to stringent regulations imposed on these products by FAO, the market is not poised to grow significantly. Additionally, the introduction of dairy alternatives like soy-based foods and beverages is expected to hinder market growth in North America and Europe.
Global Dairy Blends Market Segment Analysis – By Product Forms
On the basis of product forms, powdered segment held the major share of the market in terms of revenue and is poised to grow with a CAGR of 6.50%. In the manufacture of baby food products or infant formulations, the powder form is largely used. In ice cream and yoghurt, it also acts as a sweetener and stabilizer. In addition, owing to its dry form, it is easy to store and has a longer shelf life. As the powder is commonly formed by spray-drying milk, it contains all the nutritional values of the milk of a normal cow; hence, to drive the section, these variables are anticipated.
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Global Dairy Blends Market Segment Analysis – By Geography
Asia Pacific dominated the Global Dairy Blends Market with a share of 39.5% in 2019. The majority of the demand for dairy blends was driven by China due to the high birth rate, which increased the demand for baby food and infant formula. Additionally, major global providers of dairy products are situated in Australia and New Zealand. Moreover, dairy blends are cheap, easy to store, and have a longer shelf life as compared to their alternatives such as milk and butter. This is anticipated to increase dairy blends market growth during the forecast period 2020-2025.
North America accounted for the second-largest market share in 2018. Increasing consumption of dairy products in this region is driving the market. However, owing to stringent regulations imposed on these products by FAO, the market is not poised to grow significantly. Additionally, the introduction of dairy alternatives like soy-based foods and beverages is expected to hinder market growth in North America and Europe.
Global Dairy Blends Market Drivers
High Consumption of Spreadable Dairy Blends
The dairy blends market is poised to receive upswing with the high consumption of spreadable dairy blends that are becoming increasingly popular with consumers. Key contributing factors are its ability to be used as a low fat alternative to butter and margarine. Their popularity also hinges on their exquisite and intrinsic flavour attributes. Popular variants are vanilla and cocoa which are relished as ice-creams, toppings and custards. Demand is also being upheld with high consumption among the heart patients and the geriatric pool of the population which offers immense growth opportunities to the Global Dairy Blends market during the forecast period 2020-2025.
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Global Dairy Blends Market Challenges
Limited awareness of dairy blends and their benefits
Despite several drivers, a major factor hampering the growth of the global dairy blends market is limited awareness of dairy blends and their benefits in some less developed regions. In addition, indiscriminate consumption of dairy blends may cause various gastrointestinal problems and ailments such as diabetes etc., which is another major factor hampering growth to the global market.
Global Dairy Blends Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Global Dairy Blends Market. In 2019, Global Dairy Blends Market share is fragmented by the top ten players present in the market. Global Dairy Blends Market top 10 companies are All American Foods, Batory Foods, Kerry group, Friesland Campina., Dana Foods, Inc., Cargill Incorporated., Hormel Foods Corporation, Fonterra Co-operative Group, Agri-Mark Inc., Dohler, Royal VIV Buisman, AFP advanced food products, llc., AAK AB, Galloway Company and others.
In August 2019, Dairy Farmers of America (DFA) launched a product line combining dairy and plant-based milk blends, offering lactose-free range in five variants including dairy plus original, dairy plus almond unsweetened vanilla, dairy plus almond sweetened vanilla, dairy plus almond chocolate, and dairy plus almond oat original among others.
Asia-Pacific dominated the Global Dairy Blends Market with a share of 39.5% in the year 2019.
The factors such as growing popularity of low-carb and low-fat foods, rising disposable income, and increased focus on personal health and nutrition are amongst the major factor projected to impel growth of Global Dairy Blends Market.
Fast and hectic lifestyle has led to increasing demand for convenience foods are the key factors owing to the growth in the segment during forecast period 2020-2025.
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