As per FMI, the global functional dairy products market size is projected to exhibit growth at a CAGR of 4.3% during 2022-2032. It stood at US$ 42.2 Bn in 2021 and is likely to reach US$ 64.3 Bn by the end of 2032.
Functional dairy products are recognized as having additional nutrition beyond the basic nutrition available in dairy products. They contain the most crucial elements of a balanced diet and work as an energy booster for consumers. Also, consumers are becoming more aware of how a healthy diet influences short-term and long-term health and wellness.
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In response to this, consumers are shifting towards nutrient-dense food to attain high nutrition beyond basic nutrition. Therefore, the functional dairy products market is expected to show lucrative growth in the forecast period. Functional dairy food products include milk, yogurt, cheese, butter, and many others. Amongst these, milk and cheese are expected to hold major shares owing to the high consumption level across the globe.
Bioactive peptides, oligosaccharides, probiotic bacteria, antioxidants, vitamins, conjugated linoleic acid, specific proteins, highly absorbable calcium, organic acids, and other biologically active components with an array of bioactivities have been linked to functional dairy products, thereby distinguishing them from regular dairy products.
Key Takeaways from Market Study
- The North America functional dairy products market is expected to register 2.8% CAGR between 2022 and 2032
- The Japan functional dairy products market will grow at 3.6% CAGR between 2021 and 2031.
- The India functional dairy products market will grow at 5.7% CAGR between 2022 and 2032.
- The Europe functional dairy products market is expected to grow at 3.10% CAGR between 2022 and 2032.
- Top 3 countries in the global functional dairy products market are anticipated to generate a share of 33.8% in the forecast period.
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“Functional dairy food items provide consumers with various health benefits in addition to basic nutritional value, which is leading to a shift in consumers’ daily diets to functional dairy foods. It is expected to fuel expansion of the functional dairy market over the anticipated timeframe,” says a lead analyst at FMI.
Nutritional Benefits of Functional Dairy Products to Increase Consumption Worldwide
Due to the extra health benefits of functional dairy products such as high nutrition value in milk, cheese, yogurt, and similar other items, the global market is projected to grow at a steady pace. Besides, changing lifestyles of consumers and increasing prevalence of chronic ailments such as high blood pressure and obesity among the ever-increasing population are driving the demand for functional dairy products.
In the current scenario, the global functional dairy products business is becoming stronger due to more technological advancements by manufacturers to provide better quality products and services. Thus, the reach of functional dairy products is substantially improving.
As a result, the functional dairy products industry has become one of the most important contributors to the global economy and it will continue to grow in the coming decade. Functional dairy products are also becoming more popular in terms of demand as a result of increased social media marketing initiatives by key players, which has a direct impact on youth and health-conscious consumers and helps to boost product sales.
Competitive Landscape: Functional Dairy Products Market
Some of the leading companies offering functional dairy products are Archway Food Group, General Mills Inc., Anand Milk Union Limited, Dairy Farmers of America Inc., Kraft Foods Inc., Arla Foods UK Plc., Nestle SA, Parmalat S.P.A, Megmilk Snow Brand Co. Ltd, Dean Foods Company, Fonterra Co-operative Group, Lactalis International, Danone SA, and others.
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Get Valuable Insights into Functional Dairy Products Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Functional Dairy Products market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the functional dairy products market based on by type (yogurt, cheese, butter, milk, and others), by end use (retail/household, HoReCa, and F&B industry), and by distribution channel (b2b and b2c) across seven major regions.
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