Dairy Based Beverages Market - 35% of Growth to Originate from APAC, Technavio
NEW YORK, April 2, 2024 /PRNewswire/ -- The global dairy based beverages market size is estimated to grow by USD 41.95 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.66% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 35%.
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APAC is expected to play a pivotal role in propelling the global dairy based beverages market
Geographic Landscape:
The European dairy-based beverages market is experiencing significant growth, driven by factors such as urbanization, health consciousness, and increasing awareness of organic products. With a high percentage of the female population in Germany, France, Italy, Denmark, and the UK, the demand for calcium-rich dairy drinks is high to mitigate the risk of bone diseases like osteoporosis. This market encompasses various product categories, including carbonated drinks, drinkable yogurts, and functional beverages. Essential nutrients like Vitamin D, Calcium, Potassium, Magnesium, Vitamin A, Proteins, Antioxidants, Omega fatty acids, and Phytosterols are essential components of these beverages. Innovative products like Sunfeast Wonderz Milk, Fruit 'n' Milk, Shakes Classic Vanilla, NutShakes Kesar Badam, and drinkable yogurts cater to diverse consumer preferences. Probiotics drinks and milk segment dominate the market, with flavored dairy drinks gaining popularity. Packaging in cartons and availability in supermarkets, hypermarkets, and convenience stores further enhance accessibility. Product launches, technology analysis, and awareness campaigns continue to shape the market landscape.
Research Analysis
The Dairy Based Beverages Market is experiencing significant growth due to the increasing awareness and health-consciousness among consumers. This market encompasses a wide range of products, including probiotic drinks, formulated functional products, and flavored milk. Key functional properties of these beverages include the presence of essential nutrients such as proteins, minerals, and omega 3. Innovative products in this market also incorporate ingredients like collagen, aloe vera, plant sterols, and antioxidants. Dairy drinks and dairy products are popular choices due to their natural sources of these essential nutrients. Technology analysis plays a crucial role in the development of these beverages, with microbial cultures and organic farming techniques used to create healthier options. Product launches and awareness campaigns continue to drive market growth, offering consumers a diverse array of flavors and functional benefits.
Market Drivers
The dairy-based beverages market is experiencing significant growth, driven by the increasing preference for healthier options and awareness campaigns. Supermarkets and hypermarkets are key distribution channels for these beverages, which include flavored milk, plain milk, and probiotic drinks. Technology analysis plays a crucial role in product development, with formulated functional products incorporating essential nutrients such as Omega 3, collagen, aloe vera, plant sterols, and soy isoflavones. Health-conscious consumers seek dairy drinks fortified with vitamins and minerals like Vitamin D, calcium, potassium, magnesium, and Vitamin A. Convenience stores also contribute to market growth. However, the market caters to various consumer needs, including those with lactose intolerance and allergies, leading to the popularity of non-dairy based drinks. Carbonated drinks and drinkable yogurt are alternative options in the functional beverages category. Microbial cultures and minerals enhance the functional properties of these beverages.
Market Overview
The Dairy Based Beverages Market is a significant sector in the food industry, featuring a variety of products such as milk, cheese, yogurt, and butter. Functions and forms of dairy beverages range from fresh milk to fermented milk products like yogurt and probiotics. Drinks like milkshakes, smoothies, and flavored milk are popular consumer choices. Milk, particularly, is a crucial component of numerous diets worldwide, with consumers seeking out dairy products for their nutritional benefits. The market is driven by factors like increasing consumer awareness of health benefits, growing demand for organic and lactose-free dairy products, and changing consumer preferences. However, challenges like competition from plant-based alternatives and price volatility persist. The market is projected to grow, with key players focusing on innovation, sustainability, and expansion into emerging markets.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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