Dairy Blends Market 1

Dairy Blends Market estimated to be USD 3750 million in 2020 to 2023
Dairy Blends Market Research Report - Global
Forecast till 2023
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Dairy Blends Market estimated to be USD 3750 million in 2020 to 2023
Dairy Blends Market Scenario
Dairy blends are usually prepared by blending cream or butter and other non-dairy
ingredients such as cocoa, vegetable oil, almonds and many others. Dairy blend
products contain protein, vitamins, and essential minerals. It is an inexpensive
alternative to dairy products and is applicable in various industries, such as frozen
dessert, chocolate and confectionery, food and beverages.
Global Dairy Blends Market has been experiencing high demand for the last few
years and is projected to reach USD 3,750 million by 2023 compared to USD
2,599 million in 2017. Health benefits associated with dairy blends products is
creating a positive impact on the health-conscious population. Moreover, high prices
of dairy products globally have influenced the consumers to shift in their preference
for dairy alternatives which is boosting the growth of the market. Additionally, there
is an increasing demand for dairy blends in emerging economies which creates a
huge potential for the dairy blends market.
Based on the type, dairy/ non-dairy ingredients segment is dominating the market
followed by dairy mixtures. Moreover, dairy/ non-dairy ingredients segment is
witnessed to grow at the highest growth rate of 6.90% in APAC region over the
forecast period. Since form, the spreadable segment is expected to hold the
maximum market share of 48.43% on the global level. Additionally, dairy blends
market is projected to grow at a CAGR of 7.01% in the application of bakery &
confectionery segment over the forecast period.
By Downstream Analysis
On the basis of the type, dairy blends market is segmented into the dairy mixture,
dairy/non-dairy ingredients, dairy as a functional ingredient, dairy as a carrier, and
others. Among the type, dairy/non-dairy ingredients are estimated to account for the
major market proportion of 35.89% in the year of 2017. However, dairy as a carrier
segment is projected to be the fastest growing segment during the forecast period
of 2017-2023.
Based on the form, dairy blends market is segmented into spreadable, liquid, powder,
others. Among them, the spreadable segment is observed to be dominating with a
major market share of 48.43% in the year 2017. However, powder segment is
predicted to witness a healthy growth during the noticed period.
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Dairy Blends Market estimated to be USD 3750 million in 2020 to 2023
On the basis of the application, it is segmented into bakery & confectionery, ice cream
& frozen dessert, infant nutrition, & baby food, sweet & savory snacks, beverages,
dietary supplements, meat & seafood, and others. Among them, ice cream & frozen
desserts segment are dominating with the market share of 27.89% in the year 2017.
However, bakery & confectionery segment is anticipated to be the fastest growing
segment during the forecast period of 2017-2023.
Competitive Analysis
The major key players in dairy blends are:
• Kerry Group PLC(Ireland)
• Cargill Inc. (U.S.)
• Fonterra Co-operative (New Zealand)
• Royal Frieslandcampina N.V. (The Netherlands)
• AAK Foodservice (U.S.)
• Cape Food Ingredients (South Africa)
• Galloway Company (U.S.)
• Agropur Cooperative (Canada)
• AFP advanced food products llc (U.S.)
• Dohler GmbH (Germany)
Regional Analysis
APAC is dominating the dairy blends market with over 34.41% of the global market
share and is projected to account for a share of more than USD 1,395 million by
2023. India is expected to grow at the highest rate, followed by Japan and China,
through the forecast period.
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2334
North America is projected to witness a substantial growth rate, followed by APAC
region, during the forecast period. Canada is estimated to grow at the highest rate,
followed by Mexico, through the review period.
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Dairy Blends Market estimated to be USD 3750 million in 2020 to 2023
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