by The dairy nutrition market is witnessing significant growth owing to the increasing awareness among consumers about the health benefits of dairy-based nutritional products. Dairy nutrition products such as milk, yogurt, cheese, butter, and cream are rich sources of high-quality protein, vitamins, minerals, and probiotics. These components play an important role in building strong bones and muscles, maintaining heart and digestive health, and boosting the immune system. Growing consumer preference for nutrient-dense, easy-to-digest food and beverage products is propelling the demand for dairy foods enriched with additional vitamins, minerals, and other specialized ingredients. The global Dairy Nutrition Market is estimated to be valued at US$ 16.98 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends observed in the dairy nutrition market is the rise of customized dairy nutritional products. Manufacturers are focusing on specialized formulations tailored to meet the unique health requirements of different consumer groups. For instance, dairy products fortified with calcium, vitamin D, and plant sterols/stanols are being marketed for bone health in adults and the elderly. Similarly, formulas enriched with prebiotics and probiotics are gaining traction as gut health-promoting offerings for children. Products containing DHA/ARA andCLA are being positioned to support brain health and development in infants and toddlers. The addition of functional ingredients allows manufacturers to formulate products for various life stages and health needs, thus driving the customization wave in the dairy nutrition industry.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the dairy nutrition market is low to moderate as the industry requires high capital investments for R&D, production, and distribution networks. Established market players enjoy economies of scale and brand loyalty.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as the industry has numerous buyers including consumers, retailers, and healthcare facilities. Buyers can easily switch between different brands based on prices and product offerings.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials used in dairy nutrition products such as milk powders, vitamins, and minerals have few large suppliers globally. Suppliers may charge higher prices for unique ingredients.
Threat of new substitutes: The threat of substitutes is moderate as other forms of nutritional supplements like plant-based products offer alternatives. However, dairy-based supplements have certain benefits in terms of bioavailability of micronutrients.
Competitive rivalry: The competitive rivalry in the industry is high with the presence of many private label and branded players. Companies compete based on quality, innovation, promotion, and pricing.
Key Takeaways
The global Dairy Nutrition Market Growth is expected to witness high. The growing consciousness about nutrition enrichment and prophylactic healthcare is fueling the demand for dairy nutrition products globally.
Regional analysis: North America dominates the global dairy nutrition market currently owing to advanced dairy farming and feed practices in countries like the US and Canada. Asia Pacific is expected to witness the fastest growth during the forecast period supported by rising disposable incomes, growing middle-class population, and increasing health awareness in emerging countries like China and India.
Key players: Key players operating in the dairy nutrition market are Pfizer Inc., Teva Pharmaceuticals, Mylan N.V., Dr. Reddy’s Laboratories, Zydus Cadila, Sun Pharmaceutical Industries, Aspen Pharmacare, Apotex Inc., Sandoz (a division of Novartis), Lupin Limited. Companies mainly focus on new product launches, mergers, and acquisitions to strengthen their portfolios and geographical presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
