Market Drivers and Key Barriers
Using dairy blends in food items lends a real taste enhancement quality to the products. Mixing dairy blends with other sources of protein offers numerous nutritional benefits to the consumers. This factor has accelerated its demand substantially in the past couple of years.
Furthermore, the Global Dairy Blends Market will also be benefited owing to its cost effectiveness factor, growing use with other ingredients and less percentage of fat as compared to butter and margarine. Generally, dairy products are imported at an exorbitant price, however dairy blends can be imported at prices much lower than the dairy products. Generally, dairy blends can be used by mixing then with various other ingredients such as cocoa powder, butter, dextrin, sugar, and vegetable fats, thereby driving the demand for dairy blends. Also, when dairy blends are mixed with soy or other proteins, the flavor of the product is enhanced to a large extent, in addition to managing the cost formulation, as most of the soy proteins are highly cost effective compared to the dairy proteins.
An additional factor that is creating growth opportunities for the dairy blends market is that it is not 100% butter, elevating its popularity among a large portion of consumers, due to the fact that it does not possess much fat. Other than this, the expanding rice and bakery industry, growing awareness and rising appreciation of nutraceutical food sector as well as the increasing popularity of certain food products such as pizza and burger have been contributing to the growth of the market. In addition, growing use of dairy blends for making juices will also market position of dairy blends in the years to come.
Market Snapshot
After carefully analyzing the current trends, Market Research Future (MRFR) concludes that the Global Dairy Blends Market will be worth the value of USD 3,750 million by the end of 2023. Furthermore, the market will be registering a CAGR of 6.41%, during the forecast period (2017-2023).
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Key Findings:
- APAC region is estimated to dominate the market with a market share of 34.41%. Furthermore, in APAC, China is expected to account for a major market share followed by India during the forecast period of 2017-2023.
- Powder segment is expected to have the highest growth rate during the review period in which North America is witnessed to have the fastest growth rate of 9.19%
Market Segmentation
The market for dairy blends is segmented on the basis of type, form, and application.
Based on the Type
- Dairy mixture
- Dairy/non-dairy ingredients
- Dairy as a functional ingredient
- Dairy as a carrier
Out of these, dairy/non-dairy ingredients were holding the major market share of 35.89% in 2017. But dairy as a carrier segment will be the fastest-growing segment from 2017 to 2023.
Based on the Form-Wise
- Caters to spreadable
- Liquid
- Powder
Among these, the spreadable segment was leading with a considerable share of 48.43% in 2017. Whereas, the powder segment is exhibited to note a healthy growth during the given time frame.
Based on the Applications
- Bakery & confectionery
- Ice cream & frozen dessert
- Infant nutrition
- Baby food
- Sweet & savory snacks
- Beverages
- Dietary supplements
- Meat & seafood
Here, the ice cream and frozen desserts segment grabbed the lion’s share of 27.89% in 2017. On the other hand, bakery and confectionery segment is touted to be the fastest-growing segment in the forthcoming years.
Industry Participants
The key participants in the global dairy blends market include-
- Dohler GmbH (Germany)
- Afp Advanced Food Products LLC (U.S.)
- Royal Frieslandcampina N.V. (The Netherlands)
- Kerry Group plc (Ireland)
- Cape Food Ingredients (South Africa)
- Galloway Company (U.S.)
- Cargill Inc. (U.S.)
- AAK Foodservice (U.S.)
- Agropur Cooperative (Canada)
- Fonterra Co-operative (New Zealand)
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Recent Developments
March 2019 – Lake Foods, a division of South African chemicals group AECI, has recently launched a new dairy application center in Cape Town. The center has been established to help customers with new product development and innovation, and also product improvements.
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