According to Future Market Insights, the demand for fermented dairy ingredients is expected to grow at a CAGR of 8.2% from 2023 to 2033. The global fermented dairy ingredients market value is projected to increase from US$ 7,884 million in 2023 to US$ 16,485.5 million by 2033.
Demand for nutritional products has soared in recent years, especially in developing countries where malnourishment remains a major concern. Fermented dairy products being a major source of nutrition are gaining traction in both developed and emerging countries. Food and Agriculture Organization (FAO), revealed that approximately 150 million households are currently engaged in milk production across the globe.
Increasing per capita expenditure on dairy products is expected to favour the future prospects of the global fermented dairy ingredients market. The report also assesses that fermented dairy ingredients are likely to face stern competition from cheaper alternatives available in the market.
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In addition, growing consumer preference for alternative products such as probiotics and other supplements is expected to dampen the surging spirit of the global fermented dairy ingredients market to a certain extent. Fluctuating prices of fermented dairy products and unsafe handling process that compromises product safety and quality is also subduing the growth of the market in regions such Europe and Asia Pacific.
By product type, cheese currently accounts for the largest value share of the market followed by flavoured milk. This is primarily owing to the growing interest of dairy ingredient manufacturers to bring new innovative cheese products with unique flavours and improved textures in order to increase the product value. Meanwhile, the yoghurt segment is projected to witness the fastest CAGR, as the global consumption of yoghurt is on the rise.
Key Takeaways:
- Increased demand for high-quality food and personal care products in developed countries like the United States and Canada is driving the demand for fermented dairy ingredients.
- Chinese cuisine culture, particularly traditional fermented dairy ingredients, is globally recognized.
- China is a significant exporter of fermented milk products, with top destinations including Hong Kong, Singapore, Nigeria, the United States, and Macau.
- Beneficial enzymes, probiotic strains, and friendly bacteria in fermented dairy ingredients contribute to their growth in Germany.
- Rising demand for health and wellness products and increased consumer awareness are driving the fermented dairy ingredients market in Brazil.
- Manufacturers are investing in product innovations to cater to the growing demand for healthier alternatives.
- The high cattle population in the country contributes to the production of fermented dairy ingredients.
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Key Manufacturers in the Fermented Dairy Ingredients Market are
- Kononklijke DSM
- CSK Food Enrichment
- The Tatua Cooperative Dairy Company
- Arla Foods Ingredients group Cargill Incorporated,
- Archer Daniels Midland Company
- Chr. Hansen Holding
- DairyChem
- Epi Ingredients
- Ingredion Incorporated
- Dairy Connection
- Novozymes
- Socius Ingredients
- CP Ingredients
- E. I. du Pont de Nemours and Company
- Kerry
- Biopro
- Lake International Technologies
- Corbion
Fermented Dairy Ingredients Market by Category
By Product Type:
- Cheese
- Natural Cheese
- Cultures
- Enzymes
- Starch
- Modified Starch
- Native Starch
- Sweetener
- Processed Cheese
- Cultures
- Enzymes
- Starch
- Starch Modified
- Starch Native
- Sweetener
- Flavored Milk:
- Cultures
- Enzymes
- Starch
- Starch Modified
- Starch Native
- Sweetener
- Yogurt:
- Sponable Yogurt
- Cultures
- Enzymes
- Starch
- Starch Modified
- Starch Native
- Sweetener
- Drinkable Yogurt
- Cultures
- Enzymes
- Starch
- Starch Modified
- Starch Native
- Sweetener
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By Application:
- Bakery
- Dairy
- Snacks
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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