Published By : 07 Dec 2016 | Published By : QYRESEARCH
Increasing Inclination toward Healthy Foods to Provide a Ladder for Development of Global Dairy Blends Market
Dairy has come up as a key ingredient in meals and is an excellent source of nutrition for consumers. The increasing consumption of dairy blend in the past few years is due to the proliferation of numerous products in the market. In addition, the soaring population and the growing awareness on the advantages of consuming dairy will bode well for the development of the market. The global dairy blends market is predicted to touch S$4.59 bn by the end of 2024, expanding at a remarkable 9.0% CAGR from 2016 to 2024. The increasing inclination toward healthy food products providing good nutrition has also fuelled by the demand for dairy blends. Furthermore, the increasing convenient food’s demand owing to hectic lifestyles will fuel the growth of the market for dairy blends.
Increasing Consumption of Dairy Blends in Bakery to Fuel Demand
In terms of application, the market is segmented into liquid, spreadable, and powder. These are applied in infant formula, beverages, pharmaceutical lactose, bakery, butter, and cheese blends. In addition, dairy blends are also utilized in making yoghurt and dairy feeds. Amongst the key applications, the segment of bakery held a leading position in the market owing to increasing inclination toward confectionary products. On the other hand, the segment of infant formula will also gain significance in forthcoming years owing to numerous working mothers opting it.
Increasing Health Awareness amongst Individuals to Drive Europe Dairy Blends Market
Geographically, the globally dairy blends market is categorized into Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. Of these, the Europe dairy blends market is predicted to experience swift development owing to increasing awareness amongst consumers to have the right food in order to have proper nutrition. In addition, the growing awareness regarding consumption of low calorie foods for their health-related benefits will also boost the development of the market in Europe. On the other hand, Asia Pacific has also exhibited immense potential in the market owing to the increasing base of population.
The key players dominant in the dairy blends market are Kerry group, Agropour Ingredients, Fonterra Co-Operative Limited, Cargill Inc., Agropour Ingredients, Dohler Group, FrieslandCampina, Intermix Australia Pty Limited, Galloway Company Inc., Cape Food Ingredients, and Advanced Food Products LLC, among others.