In addition to dairy-based products, creamy products such as yogurts, cheese, cream cheese, fromage frais, milkshakes and flavored milk, are witnessing immense popularity.
Dublin, Ireland – January 23, 2020 /MarketersMedia/ —
Fortified foods on the back of essential nutrients have been experiencing widespread adoption over the last few decades thus creating an upswing in demand for fortified dairy products. According to the newest report by Fact.MR, demand for fortified dairy products is expected to grow exponentially and is projected to create an absolute $ opportunity of around US$ 56 Bn during forecast period 2019 – 2026.
Fortified dairy products are presumed to be a promising sector in the next half decade and are projected to grow at a significant growth rate. Milk and dairy products serve as one of the best and easily available sources of essential nutrients. However, a series of production processes tends to hamper nutrient absorption. Fortification performs an imperative function of replenishing all lost nutrients in milk and its derivatives. The industry has seen extraordinary demand of fortified milk, milk powder, infant formula, and various other dairy products owing to penetration of targeted government programs singularly aimed at eradication of nutritional deficiencies.
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Key Takeaways of Global Fortified Dairy Products Market
– Milk powder and formula product type segment in fortified dairy products accounts for more than one third of market share and is expected to show significant growth in fortified dairy products market during period of forecast, owing to increased demand from milk powder and nutritional formula manufacturers across the globe.
– Vitamins micronutrients in fortified dairy products is majorly contributing to the global fortified dairy products consumption and is projected to grow 1.5X over period of forecast, owing to increased demand in milk, milk powder and milk formula.
– Fortified dairy products market in Asia Pacific excluding Japan holds around one third of the market share. However, increasing consumer inclination towards fortified dairy products is projected to grow at significant growth rate as compared to other regions.
– Modern trade sales channels of fortified dairy products holds more than one third of market share. However, online stores are growing at a faster pace as compared to other sales channels of fortified dairy products.
– Flavored Milk segment is projected to create an absolute $ opportunity of US$ 14.4 Bn during forecast period 2019 – 2026. Moreover, it will exhibit fastest growth among product type of fortified dairy products market.
Market Leaders Retain their Edge through R&D Initiatives
In recent years, manufacturers and food brands are expanding their research & development capabilities and planning to expand their portfolio to gain more share in global fortified dairy products market. To develop new applications of fortified dairy products, companies are investing money in research and development to strengthen their position in new application areas. For instance, in the year 2018, the company Nestle USA and Arlington, Va., launched Nesquik-SuperBreakfast protein breakfast milk drink. This has helped Nestle to boost its revenue with new offerings in the market.
Find More Valuable Insights on the Global Fortified Dairy Products Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for fortified dairy products, with historical data on demand (2014-2018) and expected projections for the period (2019-2026). The fortified dairy products report discloses compelling insights into the demand for fortified dairy products based on product type i.e. milk, milk powder and formula, flavoured milk, cheese, dairy based yogurt and other products, Micronutrients (vitamins, minerals, Other fortifying nutrients), sales channel (modern trade, convenience stores, departmental stores, drug stores, online stores, other sales channel) across 7 key regions and 22 + countries.
To Get more insights on fortified dairy products market, visit- https://www.factmr.com/report/4466/fortified-dairy-products-market
About The Food & Beverage Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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This news is published on Reuters.