The Dairy Blends market is expected to reach USD 4.01 Billion by 2021 owing to growing consumer awareness about the health benefits.
Hyderabad, India -- (SBWIRE) -- 01/22/2018 -- The report "Dairy Blends Market by Application (Yogurt, Bakery, Feed, Beverage, Butter & Cheese Blends, Infant Formula, Ice Cream, And Others), By Form (Powder, Liquid, Spreadable), By Type (Dairy/Non-Dairy Ingredients, Dairy as Carrier, Dairy as Functional Ingredient, Dairy Mixtures, And Others)- Forecast to 2021", The Dairy Blends market is expected to reach USD 4.01 Billion by 2021 from an estimated USD 2.76 Billion in 2016, at a CAGR of 7.78%. The key factors such as rapid urbanisation rates, growth in disposable incomes and population strength coupled with the changing dairy habits are driving the growth of this market.
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By application, the infant formula segment accounted for the largest share of the market in 2016
On the basis of application, the Dairy Blends market has been segmented into Application, is classified into Yogurt, Bakery, Feed, Beverage, Butter & Cheese Blends, Infant Formula, Ice Cream, and Others. The infant formula segment accounts for the major market share owing to the increase in birth rates and decrease in mortality rates which has led to a rise in infant population, and infant formulas are the go-to products for providing nutrition to babies.
By form, the powders segment accounted for the largest share of the market in 2016
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On the basis of form, the Dairy Blends market has been segmented into Powder, Liquid, and Spreadable. In 2016, the powdered segment accounted for the major market share owing to the deeper market penetration of powders dairy blends as they have been in the market for a relatively longer time when compared to other forms.
By type, the Dairy/non-dairy ingredients market accounts for the largest market share.
On the basis of type, the Dairy Blends market has been segmented into Dairy/Non-Dairy Ingredients, Dairy as Carrier, Dairy as Functional Ingredient, Dairy Mixtures, and Others. The dairy/non-dairy segment accounts for the largest market share as they are used in a variety of applications such as ice cream, bakery, and confectionaries.
North America dominated the market in 2016
North America accounted for the largest share of the Dairy Blends market in 2016, followed by Europe. The large share of the North American Dairy Blends market can be attributed to the rapidly growing population, urbanization and due to the fact that the United States is the primary producer of dairy blends and is the fourth largest dairy product exporter and larger then Asia and South America in terms of service of whey.
The various players in the Dairy Blends market include Anchor, SPX Flow, Abbott Nutrition, Cape Food Ingredients, Agropur Ingredients, Hormel Specialty Products, Friesland Campina, and Cargill Inc.
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