Introduction to Fortified Dairy Products Market
Fortified dairy products are also known as enriched dairy products. In this process of enrichment or fortification is done by adding micronutrients such as essential minerals and vitamins to dairy products. It provides necessary nutrients in order to reduce the dietary deficiencies within the growing population. The addition of micronutrients to dairy products can prevent large scale deficiency. WHO also recommends the fortification of dairy products to prevent nutrition deficiency in any gender or age group by adding micronutrients.
Market Size and Forecast
Currently the global fortified dairy products market is observing vibrant growth on the account of increasing consumption of dairy food products, thereby driving the demand of fortified dairy products. Additionally, advancement in dairy industry coupled with growing healthy food habits is projected to drive fortified dairy products market during the forecast period.
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As per Organisation for Economic Co-operation and Development, the rise in global consumption of dairy products from 411,173 thousand tonnes in 2015 to 435,805 thousand tonnes in 2019. The rising consumption of dairy products raises the demand for the fortified dairy product during the forecast period. The increasing consumption of dairy products coupled with the increasing demand for the food products with high nutrition content drives the demand for fortified dairy products .This leads to the high market growth of fortified dairy products during the forecast period.
The various micronutrient which are added to the dairy products are segmented into mineral and vitamins. The fortified dairy products are also segmented into milk, cheese, yogurt and other dairy products which are applicable to several age groups. Additionally, the age group segment of the fortified dairy products market is further segmented into kids, elderly and others.
Growth Drivers
Rising Demand for fortified dairy products
Moreover, increasing need for nutrients rich food products is driving the demand for the fortified dairy products significantly. This is expected to have significant impact on the global fortified dairy products market during the forecast period.
Widespread Technological Advancement
Latest technological advancements in food industry led to artificially adding micronutrients such as minerals and vitamins in food and dairy products. This enhances the nutrition value in the dairy product and reduce the deficiency diseases to occur in any age group .This is anticipated to drive the growth of the fortified dairy products during the forecast period.
Restraints
High Cost
The high cost of the fortified dairy products in comparison to regular dairy products is the major restraint of the fortified dairy product market .The price factor is expected to hamper the growth of fortified dairy products market in the forecast period.
Market Segmentation
Our-in depth analysis of the global fortified dairy products market includes the following segments:
By Age Type
- Kids
- Elderly
- Others
By Micronutrient Type
- Vitamins
- Minerals
By Product Type
- Milk
- Yogurt
- Cheese
- Others
By Region
On the basis of regional analysis, global fortified dairy products market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia-Pacific is expected to dominate the global fortified dairy products market. The high demand from this region is driven by the countries such as India and China owing to high consumption of milk and other dairy products.
North America and Europe are expected to contribute significant market share in the global fortified dairy product market. Additionally, the increasing health-consciousness in the growing population is driving the market growth of the fortified dairy products. Moreover, rapid urbanization is driving the fortified dairy products market during the forecast period.
Global fortified dairy products market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Top Featured Companies Dominating The Market
- Nestle
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Arla
- Danone
- General Mills
- Dean Foods Company
- BASF
- Fonterra
- China Modern Dairy
- Bright Dairy & Food
- GCMMF
