May 27, 2024
Dairy Nutrition Market

The Rising Demand for Fortified Dairy Products is Driving the Global Dairy Nutrition Market Growth

Dairy products are enriched with essential nutrients like calcium, protein, vitamins, and minerals. Various dairy ingredients including milk powder, whey protein, casein protein, and prebiotics are used in various food and beverage applications to enhance their nutritional profiles. Fortified dairy ingredients are gaining popularity as consumers are increasingly health-conscious and prefer food products with added health benefits. Dairy ingredients provide functional properties like improvement in texture, shelf-life, and taste along with nutritional value. They are used in infant formula, clinical nutrition, sports nutrition, weight management, and other functional food and beverages. The growing awareness about the role of dairy in cognitive development and bone health is further propelling the demand for dairy-fortified products.

The global Dairy Nutrition Market is estimated to be valued at US$ 19.57 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Plant-based dairy alternatives are gaining popularity as a key trend in the dairy nutrition market. Consumers are increasingly adopting plant-based diets and lifestyles owing to various factors like intolerances, allergies, ethics, and environmental concerns. Plant-based milk made from crops like soy, almonds, cashews, coconuts, and oats are enriched with additional vitamins and minerals to mimic the nutritional density of cow’s milk. These plant-based dairy alternatives present an opportunity for dairy manufacturers to cater to the vegan demographic through fortified, plant-based product offerings. Companies are innovating with diverse plant-based formulations to meet the rising demand. This trend is expected to shape the future growth trajectory of the industry over the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the dairy nutrition industry has high costs associated with R&D, distribution channels and brand loyalty. However, the industry has opportunities for business growth.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as the buyers have a variety of options from different dairy nutrition product manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate owing to the availability of substitutes and the dominance of few large suppliers.
Threat of new substitutes: The threat of new substitutes is moderate as there are alternatives present but dairy nutrition products have well established customer base.
Competitive rivalry: The competition in the dairy nutrition market is high owing to the presence of established brands.

Key Takeaways
The Global Dairy Nutrition Market Size is expected to witness high growth. The global Dairy Nutrition Market is estimated to be valued at US$ 19.57 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031.

Regional analysis North America dominates the global dairy nutrition market owing to rising demand for nutritional and healthy dairy products. The Asia Pacific region is expected to grow at the fastest rate due to growing health awareness.

Key players operating in the dairy nutrition are Thermo Fishe, Koninklijke DSM N.V., Arla Foods, Dupont, Fonterra Co-Operative Group Ltd, PCI.

Thermo Fishe provides a portfolio of scientifically-proven ingredients that support overall wellness, immune and digestive health from conception through older age. Koninklijke DSM N.V. offers wide range of science-based nutritional ingredients and solutions that supports general well-being, targeted nutrition and therapeutic care. Arla Foods manufactures, sells and delivers milk, cheese, dairy spreads and infant nutrition to customers around the world.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it