The global dairy nutrition market plays a significant role in promoting overall health and wellbeing. Dairy products like yogurt and cheese are rich sources of important nutrients like calcium, protein, vitamins, and minerals. They help build strong bones and muscles while also supporting weight management and heart health. With growing health awareness, consumers are increasingly opting for nutrient-rich dairy items that offer functional benefits beyond basic nutrition.
The global dairy nutrition market size is estimated to be valued at US$ 19.57 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising health and wellness trends have boosted demand for fortified and enriched dairy products across the world. As highlighted earlier, this remains a key driver propelling growth of the dairy nutrition market. The market is also driven by increasing cases of lifestyle diseases like obesity and cardiovascular issues. Extensive R&D is helping manufacturers launch a variety of dairy items containing vital vitamins, minerals, and prebiotics/probiotics to support overall health from within. Advancements in processing technology allow development of shelf-stable, nutrient-rich dairy nutrition solutions. Growing focus on diet, fitness, and preventive healthcare augurs well for the industry.
SWOT Analysis
Strength:
- The dairy nutrition products have high nutritional value as they provide essential vitamins, minerals, and other nutrients that are important for bone health, brain development, and energy levels.
- There is a wide range of dairy nutrition products available for different target groups such as infants, children, adults, and seniors which meet their specific nutritional needs.
- Many manufacturers are focusing on development of organic, non-GMO and clean label dairy nutrition products to cater to changing consumer preferences for natural and organic products.
Weakness:
- Some people suffer from lactose intolerance and cannot digest lactose present in dairy products, restricting their options in the dairy nutrition category.
- High price of premium and specialized dairy nutrition products makes them unaffordable for mid-low income customers.
Opportunity:
- Growing health and wellness trend has increased demand for nutrition-rich dairy products especially designed for specific goals like weight management, sports nutrition, gut health etc. providing opportunity for customized functional products.
- Rapid urbanization and changing lifestyle in developing countries is leading to a rise in cases of malnutrition, providing scope for dairy nutrition products to help meet daily nutrition requirements.
Threats:
- Rising costs of raw materials primarily milk hampers profit margins of dairy nutrition manufacturers.
- Increasing vegan and plant-based trends pose a threat as many people are preferring non-dairy alternatives over milk and other dairy products.
Key Takeaways
Global Dairy Nutrition Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market was valued at US$ 19.57 billion in 2024 and is projected to reach US$ 37.28 billion by 2031, expanding at a CAGR of 9.8%.
Regional analysis:
North America dominates the global dairy nutrition market currently, accounting for over 30% of market share. The presence of major dairy producers, high consumption of dairy products, and growing health and wellness trend have been driving high demand. Asia Pacific is expected to be the fastest growing region for dairy nutrition products during the forecast period supported by rapid economic growth, increasing disposable incomes, and rising awareness about nutrition.
Key players:
Key players operating in the dairy nutrition market are Thermo Fisher Scientific, Mead Johnson, Danone, Fonterra Co-Operative Group Ltd., Abbott, Nestlé, and DuPont. Thermo Fisher Scientific provides analytical instruments, reagents, and lab equipment for dairy testing and research. Mead Johnson is a manufacturer of infant formula and other pediatric nutritional products.
The global dairy nutrition market is witnessing consolidation activities with large corporations acquiring smaller players to expand their product portfolio and geographical footprint. Innovation and new product development catering to emerging consumer preferences remains key focus areas for leading players in this market space.
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