Dairy Blends Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024
Albany, NY -- (SBWIRE) -- 09/04/2017 -- The leading five vendors in the global market for dairy blends held a Herculean share of 67.88% in 2015, states Transparency Market Research (TMR) in a research report. The core companies are Kerry Group, Friesland Campina, Agropur Ingredients, Doehler Group, and Fonterra Cooperative Group Ltd. These companies have successfully retained their position in the market over the last couple of years through expansion in many developing economies and expansion of the product portfolio. These vendors are anticipated to concentrate on developing healthy food products for children as they are one of the main target audiences for the market to progress.
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According to a TMR analyst, "The global market for dairy blends is anticipated to rise at a 9.0% CAGR from 2016 to 2024. In 2015, the market was worth US$2.15 mn and is expected to rise to a valuation US$4.59 mn by 2024." Based on application, the market is projected to be led by the segment of bakery owing to the rising inclination of consumers towards bakery products and confectionary goods. The segment of infant formula is also expected to gain traction over the years ahead. Region-wise, the global dairy blends market is expected to be dominated by Europe over the course of the forecast period owing to the rising awareness among consumers in the region regarding the benefits of consuming dairy products and dairy blends. The region is anticipated to account for a share of 35.91% over the forecast period.
Market Growth to be Favored owing to High Consumption of Convenient Food
The expanding accentuation on fitness and wellbeing are the essential development drivers for the worldwide dairy blends market. Adequate utilization of dairy items helps in building invulnerability and quality to battle irresistible ailments. Inferable from this very reason, several customers are deciding on incorporating dairy mixes in their ordinary eating regimens. Rising dispensable salaries, occupied ways of life, and expanding focus on healthy living are the key facets guaranteeing the incessant development of the worldwide market.
The developing number shoppers are settling on convenient food products because of the absence of time for expand suppers. The survey demonstrates that around 90% shoppers favor helpful eating alternatives, which is relied upon to support the demand for items that utilize dairy blends. A few developing markets are relied upon to offer lucrative chances to the worldwide dairy blends market in the coming years. Item development and separation are probably going to be foundations for extension for a few existing players in the coming years. Investigators envision that the interest for pastry kitchen things will stay at an unsurpassed high. In any case, the interest for newborn child recipe is anticipated to witness a noteworthy development rate as a few working moms will decide on it because of absence of time.
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Wellbeing Complications because of Dairy Products to Act as Growth Impediment
Despite the fact that the market has splendid prospects, it is probably going to endure because of a few reasons. The essential purpose behind the hindered development of the market will be because of conceivable outcomes of confusions for diabetic patients in the wake of devouring dairy blends. The same can happen in instances of patients experiencing gastrointestinal maladies alongside the ones experiencing weight. Consequently, patients with these ailments are exhorted not to shopper dairy blends, which could hamper the development of the worldwide market.
This review of the market is based on a recent report by Transparency Market Research, titled, "Dairy Blends Market (Form - Liquid, Spreadable, and Powder; Application - Infant Formula, Bakery, Beverage, Ice cream, Pharmaceutical Lactose, and Butter and Cheese Blends) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
The global dairy blends market can be segmented as follows:
Global Dairy Blends Market, by Forms
Global Dairy Blends Market, by Application
Butter and Cheese Blends