Dairy nutrition products include milk and dairy-based drinks, supplements and various other products that are enriched with nutrients such as vitamins, minerals, proteins and other ingredients. These products provide nourishment and play an important role in maintaining overall health and wellness. The growing consumer awareness about health benefits of consuming dairy nutrition products has fueled the demand in recent years. 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 Dynamics:

Increasing health consciousness: Rising health awareness among consumers has boosted the demand for dairy nutrition products globally. People are more concerned about their health and nutrition and prefer dairy based nutrition products over other options as they consider dairy products to be more nutritious. This growing demand for dairy based nutrition products is a key driver propelling the market growth.

Moreover, busy lifestyles has pushed people to look for convenient functional foods and beverages that can substitute conventional meals and provide on-the-go nourishment. This has further spurred the demand for dairy based nutrition bars, drinks and other products.

SWOT Analysis
Strength: The dairy nutrition market has grown considerably in recent years owing to increasing awareness about the numerous health benefits of dairy products. Consumption of dairy-based nutritional supplements helps improve bone health, manage weight, and maintain overall wellness. Availability of different types of dairy-based supplements such as milk powders, yogurt, cheese, and butter across various flavors and formulations caters to diverse customer preferences.
Weakness: High costs associated with research and development of specialized dairy-based nutritional products limit their reach. Adverse reactions arising from lactose intolerance also pose a challenge. Dependence on milk producing animals makes the supply chain vulnerable to fluctuations in raw material prices and environmental conditions.
Opportunity: Growing geriatric population worldwide and their high nutritional needs present a major opportunity. Rising focus on preventive healthcare and customized nutrition based on genomics is encouraging product innovation. Emerging markets in Asia Pacific and Latin America offer significant headroom for market expansion.
Threats: Stringent regulatory environment delaying new product approvals. Shift towards vegan diets may impact demand for dairy items. Intensifying competition from plant-based milk alternatives threatens market share.

Key Takeaways
The global Dairy Nutrition Market is expected to witness high growth over the forecast period owing to increasing cases of malnutrition especially among children and elderly populations globally. Countries with large rural populations such as India and China present immense potential and are likely to emerge as highly lucrative and fast expanding regional markets. Key players are diversifying their product portfolios to include multiple formulations such as powdered, gummy, and liquid supplements targeted towards specific age groups, health conditions, and lifestyle needs. They are also engaged in new product development through collaborations and acquisition of smaller firms focused on specialized ingredients.

The Asia Pacific region accounts for the largest share of the global dairy nutrition market led by India and China. Substantial population, rising awareness about nutrition, and growing consumption of dairy foods especially in rural areas are key growth drivers in the region. North America currently dominates the market whereas Europe is expected to register steady gains supported by innovations in sports and clinical nutrition segments.

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. Key players are focusing on expanding in emerging economies and enhancing production capabilities through strategic collaborations.

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