NEWARK, Del, July 29, 2024 (GLOBE NEWSWIRE) -- The Global Fortified Dairy Products sales are valued at USD 28,400 million by 2024 and is projected to reach a value of USD 48,280 million by 2034, with the global market reflecting a CAGR of 5.4 % over the assessment period 2024 to 2034.
A key driver of growth is the ongoing improvement in fortification techniques, making it more cost-effective to enrich dairy products with essential vitamins and minerals without compromising taste and texture. Consumer demand for healthier food options continues to rise, influenced by a growing awareness of the benefits of nutrient-rich diets. Government initiatives worldwide are also promoting the consumption of fortified foods to address public health concerns related to nutrient deficiencies.
Emerging markets, particularly in Asia-Pacific and Latin America, are anticipated to play a significant role in market expansion. Improving economic conditions, rising disposable incomes, and expanding middle-class populations in these regions are contributing to increased demand for fortified dairy products. Moreover, the development of new products tailored to specific demographic and health needs, such as fortified milk powders for infants and young children, is expected to drive consumer adoption and market penetration.
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Dairy Products Emerging as Effective Vehicles for Fortification
Dairy products are consumed by the majority of people for a variety of reasons, and they are proving to be effective carriers for fortification, ensuring that fortificants reach a global population uniformly. According to the World Health Organization, some schoolchildren suffer from vitamin A insufficiency. Dairy products fortified with vitamin A, such as milk, have a huge potential to help people overcome this shortage.
Countries all around the world are recognizing the necessity of fortifying dairy products and approving the notion, which is likely to enhance sales. However, the considerably greater cost of fortified dairy products compared to non-fortified dairy products is likely to limit their adoption.
Key Takeaways from the Global Fortified Dairy Products Market Study:
- Fortified milk powders are designed to address the specific nutritional needs of these age groups, ensuring adequate intake of essential vitamins and minerals that are crucial for their growth and development. As a result, this segment is projected to hold a significant value share of 36.1% by 2024
- Fortified dairy products enriched with vitamins is experiencing extensive growth, with this segment projected to hold a value share of 31.5% by 2024
- Sales of Fortified Dairy Products increased at 4.5% CAGR between 2019 and 2023 and projected to grow by 5.4 over forecast period.
“Clean-label and organic fortified dairy products are gaining popularity as consumers seek more natural and sustainably sourced food options. Additionally, the growth of e-commerce platforms is enhancing the accessibility and availability of fortified dairy products, particularly in developing regions.” - Nandini Roy Choudhury, Client Partner at Future Market Insights
Competition Outlook
The Fortified Dairy Products industry is highly competitive, with top players controlling substantial shares with their wide range of product offers and large manufacturing capabilities. Tier 1 businesses, which include titans of the players featured in the report are Arla Foods Ltd, Fonterra Co-operative Group, FrieslandCampina, Guangming Dairy Co., Ltd., China Modern Dairy Holdings Ltd., The Kraft Heinz Company, Dean Foods, Gujarat Cooperative Milk Marketing Federation Ltd., Nestle S.A., SanCor Cooperatives United Limited, Danone, General Mills
These businesses provide a broad range of applications in the food and beverage sector by utilizing their extensive experience, cutting-edge technologies, and extensive product lines. Their devoted clientele and robust geographic reach serve to further solidify their position as the industry leaders.
Leading Fortified Dairy Products Brands
- Arla Foods Ltd
- Fonterra Co-operative Group
- FrieslandCampina
- Guangming Dairy Co., Ltd.
- China Modern Dairy Holdings Ltd.
- The Kraft Heinz Company
- Dean Foods
- Gujarat Cooperative Milk Marketing Federation Ltd.
- Nestle S.A.
- SanCor Cooperatives United Limited
- Danone
- General Mills
- Others
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Get valuable insights into the Global Fortified Dairy Products Market:
Future Market Insights, in its new offering, provides a thorough, detailed, and unbiased analysis of the Global Fortified Dairy Products Market, presenting Historical Demand data for the years 2019-2023 and Forecast statistics for the years 2024-2034. The study categorizes the valuable insights on the Global Fortified Dairy Products Market based on Product Type, Micronutrients, Sales Channel and region. As per Product Type, the industry has been categorized into Fortified Milk, Fortified Yogurt, Fortified Cheese, Fortified Milk Powders and Others (Butter and Margarine). As per the End Use, the industry is sub-segmented into Vitamins, Minerals, Essential Fatty Acids, Probiotics, Dietary Fiber. Modern Trade, Convenience Stores, Departmental Stores, Drug Stores, Online Stores Channel are key channels selling the products
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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