The global fermented dairy products market is set for substantial growth, with projections to reach a market value of US$ 11,125.2 million by 2032, from US$ 4,920.5 million in 2022, showcasing a robust CAGR of 8.5%. This surge is driven by increasing consumer preference for healthier options and the extended shelf life and enhanced nutritional benefits offered by fermented dairy products.
Fermented dairy products, including yogurt, kefir, cheese, and sour cream, are gaining popularity due to their probiotic content and associated health benefits. These products are known for aiding digestion, enhancing gut health, and providing essential nutrients, which are pivotal in driving consumer demand globally.
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Key Drivers of Growth
- Health Consciousness: Growing awareness of the health benefits associated with probiotics is fueling demand. Consumers are increasingly opting for fermented dairy products as they offer improved digestibility and support immune function.
- Shelf Life Extension: The fermentation process not only enhances flavor and texture but also extends the shelf life of dairy products, making them more appealing to both consumers and retailers.
- Regional Market Opportunities:
- North America: Leading the market with innovations and increasing consumer health awareness, particularly in the United States and Canada.
- Europe: Strong market presence driven by the popularity of cheese and yogurt, with significant contributions from countries like the United Kingdom and Italy.
- Asia Pacific: Emerging as a lucrative market due to shifting consumer preferences towards functional foods and rapid urbanization.
Competitive Landscape
Key players driving market growth include Koninklijke DSM NV, Danone, General Mills Inc., and Arla Foods Ingredients Group P/S, among others. These companies are investing in new product launches and strategic acquisitions to strengthen their market position and cater to evolving consumer preferences.
- DSM launched four new Delvo®Guard cultures in February 2022, all of which obtain high levels of quality and safety. They delay yeast and mold growth and have no (or limited) impact on the fermentation process and time when delivered as Direct Vat Cultures (DVC). It meets rising customer demand for fresh yogurts that are beneficial for health and potentially reduce food waste.
- General Mills, a multinational food manufacturer based in the United States, announced in August 2021 that it is using fermentation to produce plant-based cheeses. Renegade Creamery, the company’s development brand, will market the products.
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Fermented Dairy Products Market by Product Type:
- Fermented Dairy Yogurt
- Fermented Dairy Kefir
- Fermented Dairy Cheese
- Fermented Dairy Sour Cream
- Fermented Dairy Buttermilk
- Other Fermented Dairy Product Types
Fermented Dairy Products Market by Ingredients:
- Culture-Fermented Dairy Products
- Enzymes Fermented Dairy Products
Fermented Dairy Products Market by Sales Channel:
- Fermented Dairy Products Sales via Modern Trade
- Fermented Dairy Products Sales via Convenience Stores
- Fermented Dairy Products Sales via E-commerce
- Fermented Dairy Products Sales via Other Retail Formats
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