Dairy Beverages Market Research Study, Share, Key Players Review and Forecast to 2024

Market Overview

Market Research Future (MRFR) announces the publication of its Half-Cooked Research Report Global Dairy Beverages Market, 2019–2024. The global dairy beverages market is expected to reach a market value of USD 91 billion by 2024 at a CAGR of 5.5% during the forecast period. Market players are expected to witness lucrative opportunities in the global dairy beverages market during the forecast period owing to the increasing consumer preference for new flavoured drinks, leading to a focus on R&D. Moreover, manufacturers of dairy beverages are addressing key market trends such as health and wellness, convenience, and on-the-go products, owing to which dairy-based beverages market is expected to grow in the coming years.

Dairy Beverages Market Key Players

Some of the key players in the Global Dairy Beverages Market are, Britannia Industries Limited (India), Gujarat Cooperative Milk Marketing Federation Ltd. (India), Lactalis Group (France), Borden, Inc. (US), Arla Foods amba (Denmark), Organic Valley (US), Freedom Foods Group Limited (Australia), Nestlé SA (Switzerland),  ITC Limited (India), Mother Dairy Fruit & Vegetable Pvt Ltd (India), Grupo Leche Pascual SA (Spain), The Whitewave Foods Company (US),  Parag Milk Foods Ltd (India), Dean Foods Company (US), and The Kefir Company (New Zealand).

Dairy Beverages Market Regional Analysis

Global Dairy Beverages Market has been segmented, based on region, into North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to account for the lion’s share of the dairy beverages market during the research period due to the changing consumer preferences toward healthy and natural beverages. The presence of several dairy beverages manufacturers in the region is also a crucial determinant fueling the growth of the regional market. Additionally, the high per capita consumption of dairy products in the US is fueling market growth. Canada and the US are the major markets contributing to the growth of the dairy based beverages market in North America.

The market in Asia-Pacific is projected to register the highest growth rate during the forecast period due to changing eating patterns of consumers. Moreover, economic growth and technological developments in the food & beverage industry have led to the development of innovative flavors in milk-based beverages. Additionally, the rising purchasing power of consumers, owing to economic development in China, India, and Japan, has led to changing dietary and eating habits, resulting in an increased demand for high- and premium-quality food products in the region. Convenient and easily available food items have become the preferred option for most age groups.

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Dairy Beverages Market Segment

Global Dairy Beverages Market has also been segmented based on type, packaging type, and distribution channel.

Based on type, the global dairy beverages market has been divided into milk, buttermilk, kefir, and others. The milk segment is expected to be the largest while the kefir segment is projected to register the highest CAGR during the review period.

By distribution channel, the global dairy beverages market has been segmented into store-based and non-store-based. The store-based segment is projected to account for the larger market share due to the widespread availability of dairy beverages in supermarkets and hypermarkets.