The global dairy-based beverages market size is expected to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for probiotic drinks by health-conscious consumers and growing awareness about functional properties of milk products.
Dairy-based beverages offer a naturally nutritious base at time and fulfills desire of healthy drinks. Product such as probiotic shots are made by using flavors, colors, and healthful bacteria. It makes straight milk more complex but with nutritious. Yogurt, buttermilk, powdered milk, and condensed milk are consumed on a daily basis. It is essential source of nutrition and energy. Dairy-based beverages are present in many flavors. Health conscious groups of people are increasingly demanding for dairy-based beverages with adequate amount of cholesterol and fats.
Market Trends, Drivers, Restraints, and Opportunities
- Growing demand for health-promoting benefits of dairy-based beverages is estimated to propel the market growth.
- New product launch and the addition of more supplements is anticipated to spur the growth of the market.
- Rising young population, rapid urbanization, and high birth rates are expected to contribute to the growth of the market.
- Increasing demand of carbonated drinks can hamper the growth of the market.
- The prevalence of lactose intolerance disease can hinder the market growth.
- Government initiatives to boost the consumption of milk in low- and middle-income countries can create lucrative opportunities for the growth of the market.
Scope of the Report
The report on the global dairy-based beverages market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Dairy-Based Beverages Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Categories (Unflavored Drinks and Flavored Drinks), Types (Yogurt, Milk, Kefir, and Others), and Distribution Channels (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Channels, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Chr. Hansen; Arla Foods; Danone Groupe SA; Nestle; and Morinaga Nutritional Foods, Inc.
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Dairy-Based Beverages Market Segment Insights
Flavored drinks segment is anticipated to constitute a key market share
In terms of categories, the market is divided into unflavored drinks and flavored drinks. The flavored drink segment is expected to constitute a key share of the market during the forecast period due to rising demand for flavored milk along with various types of flavored milk beverages such as mango, chocolates, and vanilla. Growing awareness of adverse impacts of carbonated beverages is inclining the interest of young population toward healthy beverages. Flavored drinks have nutrients such as phosphorus, potassium, riboflavin, protein, niacin, calcium, and vitamins A, D, and B12.
Milk segment is projected to account for a significant market share
Based on types, the dairy-based beverages market is segregated into yogurt, milk, kefir, and others. The milk segment is estimated to grow at a rapid pace due to growing consumer focus toward health and rising disposable income. Additionally, growing awareness of nutritive benefits of healthy ready-to-drink milk beverages among customers is driving the segment growth. Milk beverages hold several necessary nutrients such as calcium, potassium, protein, and vitamin A. Furthermore, increasing hectic routines of employed population with the growing health consciousness is likely to drive the consumption of milk-based beverages.
Asia Pacific is expected to dominate the market
On the basis of regions, the market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market in the coming years. Increasing disposable income, rising population, growing health concerns, and continuous increase in number of working women are driving the growth of the market in region.
Segments
The global dairy-based beverages market has been segmented on the basis of:
Categories
- Unflavored Drinks
- Flavored Drinks
Types
Distribution Channels
- Supermarkets/hypermarkets
- Specialty Stores
- Convenience stores
- Online Channels
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key players
- Chr. Hansen
- Arla Foods
- Danone Groupe SA
- Nestle
- Morinaga Nutritional Foods, Inc.
Competitive Landscape
The market is very competitive in nature owing to the presence of many major players. Some of the major players competing in the global dairy-based beverages market are Chr. Hansen; Arla Foods; Danone Groupe SA; Nestle; and Morinaga Nutritional Foods, Inc.
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