Fortified Dairy Products Market size is estimated to reach $1,520.3 million by 2026, growing at a CAGR of 5.5% over 2021-2026. Fortified dairy products contains various nutrients that help to improve the health of bones owing to the presence of vitamins, minerals and other nutrients. In fortified dairy products, the quantity of vitamin A and vitamin D is more which helps to reduce various diseases and deficiency among people. Various dairy products such as cheese, butter, yogurt and many more are produced with the fortified method in order to enrich and improve the nutritional of dairy products. A variety of processing method such as ultra-heat treatment, pasteurization etc causes a loss of essential nutrients which are beneficial for health that rising the use of fortified method to reserve and increase the nutritional value of dairy products. Fortified products such as milk powder, flavored milk, cheese, dairy-based yogurt are considered as important process in those area where the problem of malnutrition is more. Growing demand of consuming healthy products among the health consciousness people and rising deficiency of vitamin D among people is the major factor driving the growth of Fortified Dairy Products Market. Furthermore, growing advancement in technology in dairy industry and rising research and development activities is set to further enhance the overall market demand for Fortified Dairy Products Market for the period 2021-2026.
Fortified Dairy Products Market Segment Analysis – By Product Type
The Fortified Dairy Products Market based on Product Type can be further distributed into Milk, Milk Powder and Formula, Flavored Milk, Cheese, Dairy Based Yogurt, and Others. The Milk segment is the major segment generating revenue in 2020. This is mainly owing to the fact that milk is considered as essential products among consumers as it contains variety of nutritional value and are consumed by a daily basis among consumers. Moreover, milks are fortified with vitamin D that rising the demand of among people who are suffering from vitamin D deficiency and thus propelling the market growth. The Flavored Milk segment is estimated to register the fastest CAGR of 6.1% for the period 2021-2026. This is mainly owing to rising trends of consuming flavored products as it provides delicious taste in products that rising the need of flavored milk. Moreover, owing to rising demand of flavored milk various manufacturers are producing variety of Fortified Dairy Products Market.
Fortified Dairy Products Market Segment Analysis – By Micronutrients
The Fortified Dairy Products Market based on Micronutrients can be further segmented into Vitamins, Minerals, and Others. The Vitamins segment registers for the highest Fortified Dairy Products Market share in 2020. Dairy product contains a large amount of vitamin that helps to increase the health of bones and improve the healing capability of wound. Moreover, vitamin is considered as the safest and effective nutrients that rising the use of vitamin in milk products and boosting the market growth. The Minerals segment is forecasted to register the fastest CAGR of 7.3% over 2021-2026. This is mainly owing to mineral helps to increase the growth in body and provides healthy living which rising the demand of mineral contained dairy products among consumers and are thus propelling the growth of Fortified Dairy Products Market.
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Fortified Dairy Products Market Segment Analysis – By Geography
North America dominated the Fortified Dairy Products Market with major share of 45% in 2020. This is owing to growing innovation in technology that boosts the production of dairy products which are beneficial for health. Moreover, growing busy schedule among people rising the need of fortified dairy products to fulfill the nutrients in body that further driving the Fortified Dairy Products Market.
However, Asia Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to rising demand of consuming healthy food that growing the demand of fortified milk. In china and India, the production of fortified milk products increases owing to its presence of nutritional value that are further enhancing the market growth.
Fortified Dairy Products Market Drivers
Growing Demand of Consuming Healthy products
Rising trends of fitness among consumers are increasing the need of products that contains proper nutritional value which increases the need of fortified dairy products among health consciousness people. Moreover, owing to growing demand for fortified dairy products, manufacturers are also focusing on improving the nutritional value of products and increases the use of fortified process for manufacturing variety of dairy products such as cheese, yogurt etc. which increases the sales of fortified dairy products and therefore rising the growth of the Fortified Dairy Products Market over the period 2021-2026.
Rising Deficiency of Vitamin D
Rising deficiency of vitamin D increases the need of fortified dairy products which helps to provide exact vitamins and minerals in body and thus driving the market growth. Moreover, according to National Institute of Health, about 1 billion people are suffering from vitamin deficiency that rising the demand of fortified dairy products which further boosting the growth of Fortified Dairy Products Market over the period 2021-2026.
COVID-19 pandemic had greatly impacted the growth of Fortified Dairy Products Market. During pandemic, there is a lockdown that created a disruption in the manufacturing industries. Owing to lockdown, the manufacturers are not able to produce products that created a huge loss. Moreover, production capacity also decreases among manufacturers and are negatively impacted the growth of Fortified Dairy Products Market.
Fortified Dairy Products Market Challenges
High Cost Associated with Fortified Dairy Products
The factors that is set to impede the growth of the Fortified Dairy Products Market are the rising cost of fortified technology which growing the cost of fortified dairy products that is set to restrain the growth of Fortified Dairy Products Market.
Fortified Dairy Products Landscape
Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Fortified Dairy Products Market. Fortified Dairy Products top 10 companies are Danone, Modern Dairy Holdings Ltd., Grofers, BASF SE, Arla Foods UK Plc, China Mengniu Dairy Company Limited, Danone SA, Dean Foods Company, Fonterra Co-operative Group Limited, and GCMMF Ltd.
In June 2019, Grofers launched its own milk brand which is fortified with vitamin A and vitamin D that increases the demand among consumers and thus rising the market growth.
In 2020, North America dominated the Fortified Dairy Products Market owing to rising development in technology that increases the production of dairy products that are beneficial for health. Moreover, growing busy schedule among people rising the need of fortified dairy products to fulfill the nutrients in body that further driving the Fortified Dairy Products Market.
Growing demand for consuming healthy products among the health consciousness people and rising deficiency of vitamin D are enhancing the growth of the Fortified Dairy Products Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Fortified Dairy Products Market report.
High cost associated with fortified dairy products is set to create hurdles for the Fortified Dairy Products Market.
A. Milk Protein Market
B. Dairy Ingredients Market
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