Dairy drinks or beverages are healthy drinks containing several nutrients such as phytosterol, protein, magnesium, calcium, fiber, omega 3, and antioxidants. It has sufficient amounts of fats and proteins with people consuming it for post-workouts and on-the-go. The global dairy beverages market report by Market Research Future (MRFR) contains pertinent trends, opportunities, and challenges for the period between 2020 and 2027 (forecast period).
Market Scope
The global dairy beverages market size is set to reach a value of USD 106.85 billion by 2027. With the need for beverages to serve as meal replacement meals for post-gym session, the market is expected to capitalize on this trend. Introduction of new flavors as well as preference of yogurt and whey drinks are likely to drive the market demand exponentially. High demand for ready-to-drink (RTD) beverages and the launch of new concoctions can bode well for the market.
Availability of beverages in a plethora of flavors, packages, and sizes can create differentiation among products and reduce cannibalization within the market. Rising awareness levels of consumers from social media and addition of additives to the regular mix for enhancing health benefits of these drinks can drive the global dairy beverages market growth. Investments in manufacturing facilities for expanding to more regions is one of the foremost strategies of top players in the dairy beverages industry.
But increasing cases of lactose intolerance and dairy alternative drinks can pose a challenge to the market.
Segmentation
The global dairy beverages market has been segmented by type, packaging type, and distribution channel.
Based on type, it is categorized into kefir, buttermilk, milk, and others. Milk is further divided into plain and flavored milk. Among them, milk is expected to hold a majority of the market due to the benefits of milk and other supplementary ingredients. On the other hand, the kefir segment can register a remarkable growth rate due to inclination towards consumption of probiotics.
Based on packaging type, it is segmented into cans, bottles, cartons, and others.
By distribution channel, the global market has been categorized into store-based and non-store-based. The store-based segment is expected to be the dominant channel for dispersing the products to customers. This can be attributed to consumer tendency to shop at neighborhood stores. However, the non-store-based segment can register a phenomenal growth rate owing to brands partnering with ecommerce stores to sell their goods.
Regional Analysis
The global dairy beverages market reports regions of prime importance, namely Europe, Asia Pacific (APAC), North America, and the Rest-of-the-World (RoW).
North America is projected to dominate the global market by being the lead contributor owing to the presence of various brands having a large presence in the region. High nutritive value of dairy and RTD beverages by consumers as well as efforts by manufacturers to take the green initiative by offering products in recyclable containers can bode well for the market till 2027.
Competitive Outlook
ITC Limited, Lactalis Group, Arla Foods amba, Britannia Industries Limited, Parag Milk Foods Ltd, Gujarat Cooperative Milk Marketing Federation Ltd., Nestl SA, Organic Valley, The Whitewave Foods Company, Borden, Inc., Mother Dairy Fruit Vegetable Pvt Ltd, Grupo Leche Pascual SA, The Kefir Company, Freedom Foods Group Limited, and Dean Foods Company are prominent players working in the global dairy beverages market.
The main strategy of these players would be in rebranding the drinks in consumer minds as a necessity instead of a casual drink. Capturing other demographics other than health enthusiasts can lead to additional customer demographics and reduce the image of one-milk-fits-all ideology.
Industry Update
Pick-me-up drinks are a necessity in time-consuming schedules of consumers. Keeping this in mind, Dannon Co., has launched a line of caffeinated dairy beverages under its Oikos brand. It has four new flavors and partnered with Walmart for the line to gain additional exposure and a larger base of customers.
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