The fortified dairy products market is expected to reach at US$ 170 billion by 2028, registering at a CAGR of 6.5% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Growing Awareness Regarding Health Benefits of Fortified Dairy Products Drives Market Growth
Fortified Dairy Products Market Size and Forecasts (2021 - 2031), Global and Regional Growth Opportunity Analysis, and Geography (North America, Europe, Asia Pacific, and South and Central America)
Fortified Dairy Products Market Size - Growth, Share by 2031
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The demand for fortified dairy products is surging owing to the rising awareness regarding the health benefits of fortified dairy products, changing preferences of consumers, increasing concerns regarding fitness, and growing purchasing power of middle-class population. Additionally, several diseases such as osteoporosis, exophthalmia, night blindness, and anemia can be curbed by consuming fortified milk, which propels the fortified dairy products market growth.
Hectic schedule of people is increasing the demand for fortified dairy products as it helps meet their nutritional requirements. Also, rising technological innovation in the food & beverages industry by various key players is promoting the production of dairy products that provide nutrients to human body and also allow consumers to choose from a large variety of healthy fortified dairy products. Moreover, rising research and development activities and increasing modernization in the new products would create new opportunities for the fortified dairy products market during the forecast period.
Increasing focus on health of children and growing awareness regarding health issues due to malnourishment among children drive the demand for fortified dairy products. Milk is often fortified with iron and other nutrients, such as zinc and B vitamins. Therefore, it helps in treating iron deficiency in anemia in children. Furthermore, several companies are focusing on expanding their business by increasing their distribution channels and marketing their products to create awareness among consumers about the products and their benefits. Therefore, the availability of multiple channels for the distribution of fortified milk products bolsters the growth of the fortified dairy products market. Government initiatives on nutrition deficiency reduction or eradication is surging the demand for fortified milk, milk powder, infant formula, and various other fortified dairy products.
Fortified dairy products help maintain healthy micronutrient levels, keep bones strong, improve digestion, and prevent heart issues. Moreover, health-conscious consumers are increasingly adopting yogurt as a healthier alternative to dairy products. The accelerated penetration of fortification technology into yogurt drives the growth of the fortified dairy products market. The fortification of yoghurt with vitamins, minerals, fruits, vegetables, pulses, and other nutrients, encourages consumption of yoghurt and improves health without compromising the Physico-chemical and sensory properties of yoghurt.
Based on product type, the fortified dairy products market is segmented into milk, cheese, yoghurt, and others. The milk segment is expected to register the highest CAGR from 2022 to 2028. Milk is consumed on a regular basis due to its nutritional content. Furthermore, milks are fortified with vitamin D, which increases its demand among people who are vitamin D deficient. For instance, in 2018, Nestle USA launched Nesquik-Super Breakfast protein-rich milk drink. Nestle USA reported boost in its revenue with new fortified dairy product offerings in market. Thus, the availability of various innovative products drives the growth of the fortified dairy products market.
Further, manufacturers are developing innovative dairy products with high nutritional values to attract a large number of consumers. For instance, in January 2017, Asda, British supermarket chain, launched a vitamin D-enriched fresh milk, supplied by dairy cooperative Arla Foods. The launch was in response to increased consumer demand for products with additional dietary or nutritional benefits. This allows consumers to meet their recommended daily intake of vitamin D.
Arla Foods Ltd; Fonterra Co-operative Group; FrieslandCampina; Guangming Dairy Co., Ltd.; China Modern Dairy Holdings Ltd.; The Kraft Heinz Company; Dean Foods; Gujarat Cooperative Milk Marketing Federation Ltd.; Nestle S.A.; and SanCor Cooperatives United Limited are among the key players profiled in the study of the fortified dairy products market. Several other major companies were analyzed in this research study to get a holistic view of the market and its ecosystem.
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