Fermented Milk Products Market – Overview
The fermented milk products market is estimated to be USD 399.87 Billion by 2032 and is expected to register 5.8% CAGR during the forecast period.
Owing to many health advantages associated with fermented milk products, the market is growing at an exponential pace of development on the global stage.
Furthermore, convenient incorporation of these products to gain various health benefits is also one of the main drivers in the development of fermented milk products market. Growth of the functional food beverages and nutraceuticals market has also provided an impulse for the increased demand of fermented milk products. Health factors like maintenance of gut health, enhanced body metabolism can be effectively addressed by including fermented milk products in daily diet.
Health awareness and gut related disorders have prompted the growth of fermented milk products in the daily diet of individuals. Moreover, the sector is driven in a major way by the demand directed from the food beverage and pharmaceutical sectors. Fermented milk products have also emerged as a potential functional food beverage. The emergence in the fermented milk industry mainly, the probiotic prebiotic ingredients with greater functional properties have created a new market edge. Improved focus on RD and developments in the food flavors has supported the launch of new fermented milk products. There are strong prospects of fermented milk products use in the functional foods.
Global Fermented Milk Products Market - Competitive Analysis
Key manufacturers are focusing on expansion of their product line by adding value additions to their existing products. With the increasing acceptance of fermented milk products among consumer, the market will see significant growth in next few years. Also, key players in the fermented milk products market are involved in introducing new products, backed by sustained efforts in RD. End-use segments including functional beverages, and functional food for gut health with various formulations in fermented milk products is a major factor that is fueling the growth of global fermented milk products market.
The fermented milk products key market players in report are Danone (France), Nestle (Switzerland), General Mills Inc. (U.S.), Lifeway Foods, Inc. (U.S.), Valio Ltd. (Finland), Mother Dairy Fruit Vegetable Pvt. Ltd. (India), and Morinaga Milk Industry Co., Ltd (Japan) among many others.
Global Fermented Milk Products Market – Segments
The global fermented milk products market has been divided into types, distribution channel, and region.
On the Basis of Type: Soured milk, Soured cream, Cheese, Yogurt, Kefir, and Others
On the Basis of Distribution Channel: Store Based and Non-store Based
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
Global Fermented Milk Products Market - Regional Analysis
The global fermented milk products market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the fermented milk products market. Japan and China have the major consumption of fermented foods which is likely to support the market growth of fermented milk products. Additionally, increasing awareness of the healthy food habits and increasing disposable income of the consumers in India is driving the global fermented milk products market. Furthermore, increased demand of functional foods beverages such as probiotic products in the food beverage industry is considered to be a key driver in this region. Moreover, increasing rate of gut related diseases in European countries like Germany and France has uplifted the demand for fermented milk products in this region which is expected to boost the growth of the fermented milk products market during the review period.
Latest Industry Updates
Nov 2017 Fresh Dairy has today officially launched the latest addition to its line of products – BONGO. Bongo is a heat treated fermented or cultured milk product that is naturally preserved to retain its high content levels of calcium and protein.
Oct 2017 Dartington Dairy has launched its latest product delicious Kefir - a highly nutritious fermented goats milk drink. Along with oodles of good bacteria, Kefir can also boast very little lactose due to the fermenting process.
Sep 2017 Chr. Hansen has launched fermented plant-based dairy alternatives in response to the needs of today's health-conscious consumers. The new probiotic fermentation starter cultures bring the mild, fresh taste and smooth texture from yogurt into plant-based alternatives.
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