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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Asia Pacific Dairy Market Outlook
The Asia Pacific dairy market size reached approximately USD 335.16 billion in 2023. The market is projected to grow at a CAGR of 2.6% between 2024 and 2032, reaching a value of around USD 423.08 billion by 2032.
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Asia Pacific is one of the leading dairy markets along with North America and Europe due to the vast expanse of the continent and a large local consumer market. China, India and other south-east Asian countries are the major markets in the region.
Market Segmentation
Dairy can be broadly defined to include drinking milk as well as other milk products like butter and margarine, cheese, and yoghurt, among others. Dairy products can be divided into drinking milk products, butter, cheeses, yoghurt and others. Currently, liquid milk is the highest consumed dairy product in Asia Pacific. However, the region is fast catching up to new dairy product concepts such as sweetened or flavoured milk.
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Dairy products find extensive application in the food and beverages sector. The yoghurt market in Asia Pacific is seeing a growth with rising concerns about health and fitness. Dairy protein is also seeing increasing demand due to its health and nutritional benefits.
Market Analysis
The growing disposable income of the consumers is one of the major drivers of the Asia Pacific dairy market. Rapid urbanisation and a growing awareness of health and wellness have also aided the market growth. Cheese is proving to be a popular product in the continent due to the rising income of the consumers. Other traditional products such as yoghurt, curd and cottage cheese are widely consumed, especially in the sub-continent, and are poised to remain popular for the coming years.
Currently, Asia Pacific holds the highest demand for dairy products in the world market. The consumption of dairy products has doubled in the last 30 years due to a rapidly growing population and a rising middle class.
China is the largest market in the region. The per capita consumption of dairy in Indonesia, Philippines and Vietnam ranges between 14 to 15 kilograms, while the per capita consumption of the entire South-East Asia reached between 2 to 5 kilograms. In countries like Pakistan and India, where consumption of dairy and other dairy products is culturally ingrained, the market will see a continuing growth.
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Competitive Landscape
The report analyses the following key players in the Asia Pacific dairy market looking into their market share, capacity and latest development like capacity expansions, plant turnarounds, and mergers and acquisition.
- Nestlé S.A.
- Danone S.A.
- Dairy Farmers of America
- Land O'Lakes, Inc.
- The Kraft Heinz Company
- Amul (GCMMF)
- Yili Group
The comprehensive report by EMR analyses the trade data and price trends for the Asia Pacific dairy market. It also provides a value chain analysis along with an analysis of Porter’s five forces.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Asia Pacific Dairy Market Report Snapshots
Asia Pacific Dairy Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The major drivers for the market include rising disposable incomes, increasing population, rapid urbanisation, and the rising food and beverage industry.
The rising awareness of health and wellness among consumers is expected to be a key trend guiding the growth of the market.
China, India, South-East Asia, Japan, and Australia, among others, are the major regional markets.
The major product types in the market include bulk raw milk, butter, non-fat dry milk, skim milk powder, dry whole milk, dry buttermilk, natural cheeses and other than cottage cheese, American cheese, Italian cheese, Swiss cheese, other (speciality) cheeses, cottage cheese, sour cream, packaged fluid milk products, yoghurt, dry whey products, whey protein concentrates and isolates, and lactose.
The key players in the market include Nestlé S.A, Danone S.A., Dairy Farmers of America, Land O'Lakes, Inc., The Kraft Heinz Company, Amul (GCMMF), and Yili Group, among others.
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