Global Dairy Products Market Report and Forecast 2024-2032

Global Dairy Products Market Size

The global dairy products market reached approximately USD 944.93 billion in 2023. The market is projected to grow at a CAGR of 7.8% between 2024 and 2032, reaching a value of around USD 1,857.7 billion by 2032.

Global Dairy Products Market Outlook

• As per the industry reports, the total milk production in India reached 230.58 million tonnes in 2023.

• As of 2022, Germany was the largest milk producer in the European Union, followed by France and the Netherlands.

• The U.S. Department of Agriculture (USDA) announced a grant of USD 23 million on June 28th, 2023, to support the dairy businesses in the region for their business development plans, marketing strategies, and innovative production techniques.

Global Dairy Products Market Growth

The multiple health benefits of dairy products, the expansion of the retail sector, and the rising demand for organic dairy products are some of the most influential factors boosting the market growth. Dairy products such as milk, cheese, and yoghurt offer nutrients such as vitamin D, calcium, and B12, among others, which can aid muscle growth and bone strength.

Organic dairy products are gaining prominence in the market as they do not contain any harmful pesticides and synthetic hormones that can have a negative impact on health. Several market players are also investing in organic dairy facilities, for instance, Akshayakalpa Organic, announced a new production facility in Chennai, India, on January 22, 2024, with a capacity to produce around 40,000 litres of organic dairy products per day.

Increased introduction of value-added dairy products is one of the crucial trends aiding the market development. Some of these items include Greek yoghurt and protein cheeses which offer additional health benefits and assist the manufacturers in tapping niche market segments. Additionally, several government bodies are entering into trade agreements for niche dairy products. For example, Brazilian and Indian governments are discussing a proposed partnership under which Indian dairy products such as camel milk and special cheese can be traded to Brazil.

Market players are increasing investments in the dairy sector to boost their production capacities and increase market reach. For instance, Arla Foods announced in May 2024 that it aims to invest around £300 million in five of its UK facilities for the expansion and modernisation of its facility.

Global Dairy Products Industry Segmentation

“Global Dairy Products Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Milk 

• Cheese 

• Yogurt 

• Butter 

• Others 

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets 

• Convenience Stores 

• Online 

• Others 

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Dairy Products Market Share

Due to the large selection of food and beverage items as well as domestic consumables that are available, supermarkets and hypermarkets are dominating the market for dairy products. Moreover, the supermarkets and hypermarkets are situated in easily accessible urban locations. The producers of dairy products receive a steady flow of income from this sales channel.

Additionally, the rise of e-commerce has led to a quick growth in online grocery and food retail stores, which is predicted to support the expansion of the dairy products industry. Sales of dairy products have increased as a result of the worldwide market's expansion in online food and grocery delivery services, and this trend is predicted to continue in the coming years.

Leading Companies in Global Dairy Products Market

The market players are launching their products in the international market to gain a competitive advantage.

• Nestle S.A.  

• Arla Foods amba  

• Danone S.A.  

• Fonterra Co-Operative Group Ltd. 

• MEIJI Holdings Co. Ltd. 

• Royal FrieslandCampina N.V. 

• DMK Deutsches Milchkontor GmbH 

• Dairy Farmers of America, Inc.  

• Groupe Lactalis  

• Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF)  

• Others

Key Highlights of the Report