Fortified Dairy Products Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET ANALYSIS

Fortified dairy products contain extra vitamins and minerals that not naturally found in products in significant amounts. Fortified dairy products include milk and powder, flavored milk, cheese, dairy-based yogurt, and others. Dairy products can be fortified with other nutrients such as iron, folic acid, and zinc. Fortified dairy products can be used widely worldwide due to a lack of nutrient deficiency. Moreover, they fulfil additional nutrients to the body, enhance bone strength, and promote the kid's growth. These factors drive the market of fortified dairy products during the forecasted period.

GROWTH DRIVERS AND CHALLENGES

The market for fortified dairy products is anticipated to grow as consumer demand for such products increases worldwide. The global demand for nutrient-rich food products has increased, fueling the market for fortified dairy products. Fortified dairy products market growth is positively impacted by the food & beverage industry's growing use of technology. Global consumer awareness of the benefits of vitamins and minerals will increase during the projected period, driving demand for fortified dairy products.

In addition, the global market for fortified dairy products is anticipated to grow rapidly during the forecast period due to the increase in dairy product consumption across the world. Additionally, the fortified dairy products market is predicted to increase favorably due to consumers' increasing purchasing power and shifting dietary tastes towards healthier options. However, the product's high price compared to other dairy products is anticipated to hinder the growth of the fortified dairy products market globally in the coming years. 

REPORT SEGMENTATION AND SCOPE

The "Global Fortified Dairy Products Market  Analysis to 2031" is a specialized and in-depth study with a major focus on global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation by product type, micronutrients, sales channel, and geography. The global fortified dairy products market has been witnessing high growth over the recent past and is anticipated to endure this trend during the forecast period. The report provides key statistics on the consumption of fortified dairy products worldwide, along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the fortified dairy products market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the fortified dairy products market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global fortified dairy products market. This helps understand the entire supply chain and various market growth factors.

SEGMENTAL ANALYSIS

The global fortified dairy products market is segmented on the basis of product type, micronutrients, and sales channel. The fortified dairy products market is categorized by product type into milk, milk powder, formula, flavored milk, cheese, dairy-based yogurt, and others. Based on micronutrients, the fortified dairy products market is segmented into vitamins, minerals, and others. Based on sales channels, the fortified dairy products market is classified into modern trade, convenience stores, departmental stores, drug stores, online stores, and others segment the channel.

The milk segment held the largest share of the fortified dairy products market. Milk is used in a number of food items and have a very high nutritional value. It is one of the most consumed dairy products worldwide. Consumption of fortified milk can curb several diseases, including osteoporosis, night blindness, anaemia, exophthalmia, and various others that are often caused by deficiency of certain minerals and vitamins.

REGIONAL ANALYSIS

The report provides a detailed overview of the global fortified dairy products market with respect to five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. North America held the largest global market share for fortified dairy products due to the rising technological innovation that increases the production of dairy products, which are good for the body. Additionally, the demand for fortified dairy products is increasing owing to the hectic lifestyles of the working population worldwide. People are shifting to these products to supply their bodies with the required nutrients, and these factors are fueling the market for fortified dairy products.

Increasing consumer demand for nutritious foods owing to rising spending capability of people drives the demand for fortified milk in Asia Pacific, which is predicted to be a significant-growing region during the forecasted period. Due to its nutritious value, fortified milk products are being produced more frequently in China and India, further boosting the market's expansion.

FUTURE OPPORTUNITIES AND INDUSTRIAL DEVELOPMENTS

The constantly changing lifestyle of people is resulting in an increased intake of healthy foods. Fortified dairy products are nutrients rich, thus increasing the demand for fortified dairy products in the forecast period. Additionally, technological advancement in dairy products for Vitamin A and D rich will be opportunities market for the fortified dairy products market in the upcoming estimated period. 

• May 2023: Aavin introduced fortified milk in a purple sachet; Avain is a state government corporative and large-scale manufactured pasteurized Skimmed milk in India. Avain sells milk in green, orange, and blue sachets according to their milk processing procedure and is market priced accordingly. Such purple sachet is sold according to their milk procedure and price tag.
• June 2021: Grofers launched its milk brand, fortified with vitamin A and vitamin D, which increases the demand among consumers and thus raises the market growth.

IMPACT OF COVID/IMPACT OF RECESSION

COVID-19 had an insignificant impact on the fortified dairy products market. Various regions' governments imposed pandemic regulations on industries, manufacturers, and livelihoods. These regulations impacted on supply of fortified dairy products. However, the fortified milk comprises added nutrients such as Vitamin A and D, which helps in boosting immunity. For instance, several companies in the Asia Pacific focused on increasing the amount of micronutrient fortification in their F&B products post the COVID-19 outbreak.

Furthermore, owing to the recent recession, the production of milk has decreased drastically. For instance, the production of milk in the seven largest export regions of the globe (Argentina, Brazil, Australia, Uruguay, the EU, New Zealand, and the US) is constantly decreasing since Q3 2021 till Q3 2022.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the global fortified dairy products market include Ace International Llp, Arla Foods Ltd, BASF, China Modern Dairy Holdings Ltd., Dean Foods, Fonterra Co-Operative Group, FRIESLANDCAMPINA, Guangming Dairy Co., Ltd., Gujarat Cooperative Milk Marketing Federation Ltd., Nestlé, SANCOR COOPERATIVAS UNIDAS LIMITADA, The Kraft Heinz Company, among others.

REGIONAL FRAMEWORK

Fortified Dairy Products Market Report Analysis

MARKET PLAYERS

Fortified Dairy Products Market Report Scope