The global functional dairy products market size reached a valuation of US$ 44 billion in 2023. The market is projected to exhibit growth at a CAGR of 4.5% during 2023 to 2033. The market is likely to reach US$ 67.1 billion by 2033.
Functional dairy products are recognized as having additional nutrition beyond the basic nutrition available in dairy products. They contain the most crucial elements of a balanced diet and work as an energy booster for consumers. Also, consumers are becoming more aware of how a healthy diet influences short-term and long-term health and wellness.
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As a result, people are gravitating towards nutrient-dense foods in order to achieve high nutrition levels beyond baseline nourishment. As a result, the functional dairy products market is predicted to increase significantly throughout the forecast period. Milk, yoghurt, cheese, butter, and other dairy products provide functional purposes. Milk and cheese, in particular, are likely to hold significant market share due to their widespread usage.
Functional dairy products are distinguished from regular dairy products by the presence of bioactive peptides, oligosaccharides, probiotic bacteria, antioxidants, vitamins, conjugated linoleic acid, specific proteins, highly absorbable calcium, organic acids, and other biologically active components with a wide range of bioactivities.
Key Takeaways from Market Study
- The North America functional dairy products market is expected to register 2.8% CAGR between 2022 and 2032
- The Japan functional dairy products market will grow at 3.6% CAGR between 2021 and 2031.
- The India functional dairy products market will grow at 5.7% CAGR between 2022 and 2032.
- The Europe functional dairy products market is expected to grow at 3.10% CAGR between 2022 and 2032.
- Top 3 countries in the global functional dairy products market are anticipated to generate a share of 33.8% in the forecast period.
“Functional dairy food items provide consumers with various health benefits in addition to basic nutritional value, which is leading to a shift in consumers’ daily diets to functional dairy foods. It is expected to fuel expansion of the functional dairy market over the anticipated timeframe,” says a lead analyst at FMI.
Nutritional Benefits of Functional Dairy Products to Increase Consumption Worldwide
Due to the extra health benefits of functional dairy products such as high nutrition value in milk, cheese, yogurt, and similar other items, the global market is projected to grow at a steady pace. Besides, changing lifestyles of consumers and increasing prevalence of chronic ailments such as high blood pressure and obesity among the ever-increasing population are driving the demand for functional dairy products.
In the current scenario, the global functional dairy products business is becoming stronger due to more technological advancements by manufacturers to provide better quality products and services. Thus, the reach of functional dairy products is substantially improving.
As a result, the functional dairy products industry has become one of the most important contributors to the global economy and it will continue to grow in the coming decade. Functional dairy products are also becoming more popular in terms of demand as a result of increased social media marketing initiatives by key players, which has a direct impact on youth and health-conscious consumers and helps to boost product sales.
Competitive Landscape: Functional Dairy Products Market
Some of the leading companies offering functional dairy products are Archway Food Group, General Mills Inc., Anand Milk Union Limited, Dairy Farmers of America Inc., Kraft Foods Inc., Arla Foods UK Plc., Nestle SA, Parmalat S.P.A, Megmilk Snow Brand Co. Ltd, Dean Foods Company, Fonterra Co-operative Group, Lactalis International, Danone SA, and others.
Get Valuable Insights into Functional Dairy Products Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Functional Dairy Products market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the functional dairy products market based on by type (yogurt, cheese, butter, milk, and others), by end use (retail/household, HoReCa, and F&B industry), and by distribution channel (b2b and b2c) across seven major regions.
Functional Dairy Products Market Outlook by Category
By Product Type:
- Yogurt
- Cheese
- Butter
- Milk
- Others
By End Use:
- Retail / Household
- HoReCa
- F&B Industry
By Distribution Channel:
- B2B
- B2C
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Traditional Groceries
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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