“dairy blend market has been segmented by type, form, and application, global dairy blends market is expected to reach a valuation of USD 3,750 million on an average CAGR of 6.41% during the forecast period 2019 to 2023”
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Market Insights
The dairy blends market has mainly profited from the divergence of food preparation methods that involve dairy products. The inevitability to improve and refine the taste of dairy blends is primarily motivating the growth graph of the dairy blend market since past years, which is also expected to flourish in the years to come on the basis of changing food tastes and intake of people. The key market vendors of the market have made concerted efforts to expand their product portfolio to increase the margins of dairy blends market by catering to the needs of the population globally. These factors have undoubtedly supported the global dairy blend market to rise splendidly over the time.
The demand in the global dairy blends market has been intensifying with the growth of the dairy industry in recent times, reports Market Research Future Reports. Upon this, Market Research Future Reports has published a new report stating that the global dairy blends market is expected to reach a valuation of USD 3,750 million on an average CAGR of 6.41% in the assessment period from 2017 to 2023.
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Key Players
The critical players summarized in the global Dairy blends market by MRFR are
• Cape Food Ingredients (South Africa)
• Galloway Company (U.S.)
• Agropur Cooperative (Canada)
• Afp Advanced Food Products LLC (U.S.)
• Dohler GmbH (Germany)
• Kerry Group plc (Ireland)
• Cargill Inc. (U.S.)
• Fonterra Co-operative (New Zealand)
• Royal Frieslandcampina N.V. (The Netherlands)
• AAK Foodservice (U.S.)
Global Dairy Blend Market Segmentation
According to the reports published by MRFR, the global dairy blend market has been segmented amongst type, form, and application.
By type, the market is segmented into the dairy mixture, dairy/non-dairy ingredients, dairy as a functional ingredient, dairy as a carrier, and many others. Among them, dairy/non-dairy ingredients are assessed to account for the significant market proportion of approximately 35.89% in 2017. Also, this segment has the highest market share in the Asia Pacific region, which, as a carrier, is expected to proliferate at the fastest rate of 7% over the forecast period.
By form, dairy blends market is segmented into spreadable, liquid, powder, and others. Wherein, the liquid segment leads the market with a share of 35.98% in the year 2017, as per market research. However, the powder segment is also expected to witness healthy growth during the assessment period.
By application, dairy blends market is segmented into bakery & confectionery, ice cream & frozen dessert, infant nutrition, & baby food, sweet & savory snacks, beverages, dietary supplements, meat & seafood, and others. Wherein, the ice cream & frozen desserts segments are leading since the year of 2017. However, the bakery & confectionery segment has then witnessed a healthy CAGR of 7.01% during the assessment period of 2017-2023.
Global Dairy Blend Market: Drivers & Trends
It has been observed over the time that the expanding costs of conservative dairy items will keep on driving the interest for dairy blends among population globally, which in turn, will propel the global dairy blend market to rise significantly. With this, factors such as health advantages by intaking dairy blend products are probably going to support the advancement of dairy blends market further. Also, the dairy blend products are highly used for preparing instant formulas for increasing higher consumption volume is set to boost the demand for global dairy blends market during the forecast period.
Global dairy blend market is a competitive landscape as it is densely crowded with many business key players of several small, medium, and large enterprises. As the leading vendors in the market are continually expanding their business, it is anticipated that the dairy blend market will show ascendant growth during the assessment period.
On the other hand, dairy blends are widely cast across various industries, frozen dessert, chocolate and confectionery, infant nutrition and baby food, dietary supplements, and beverage industries. Likewise, during an instance in the ice cream industry, dairy blends were prominently used to replace milk solids. This act gained much traction and thus drove the growth of the global dairy blends market, which would continue to expand widely in the years to come.
Regional Outlook
Region-specific analysis of the Global Dairy Bend Market leads to the inclusion of regions such as North America, Europe, Asia Pacific, and Rest of the World.
Among them, Asia Pacific accounted for having a maximum market share of 31.65% in 2017, while the trend is expected to endure throughout the mentioned forecast period. Besides, in the Asia Pacific, it has been observed, as per the research that India is growing at the highest rate with the increasing consumption of dairy products other than in the U.S., which is boosting the growth of dairy blends market here. Even North America accounted for a 29.08% market share in the year 2017 owing to mounting consumption of dairy blend products.
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Source: MarketersMedia
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