By 2031, the global dairy market will reach $1.17 trillion

Published 2024년 12월 3일

Tridge summary

The global dairy market is expected to grow to $1,167.93 billion by 2031 at a CAGR of 4.7% from 2024 to 2031, driven by factors such as population growth, changing eating habits, and increased consumer awareness of the nutritional benefits of dairy products. The market's growth is also being fueled by advances in milk processing technologies,innovations in dairy processing, and increasing investment in state-of-the-art production technology. The demand for lactose-free dairy products is expected to rise significantly due to the spread of lactose intolerance, and the cheese category is projected to grow at the highest rate of 5.2%. The online retail segment is also expected to see strong growth, with an average annual growth rate of 5.3%.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The global dairy market will reach $1,167.93 billion by 2031, growing at a CAGR of 4.7% during the period 2024-2031. Such a forecast was made by Meticulous Research analysts, reports AgroPortal. It is noted that such a forecast is caused by the growth of the global population, changes in eating habits, increasing consumer awareness of nutritional benefits, and progress in milk processing technologies. According to experts, the key growth factors will be: • Growing population and increasing preference for fresh dairy products are the major drivers for market expansion. Awareness of the health benefits of dairy products, particularly their rich nutritional profile, continues to attract consumers worldwide.• Innovations in dairy processing, such as clean label and organic product development, are creating new opportunities. Increasing investment in state-of-the-art production technology, such as Arla Foods' €210m mozzarella facility in the UK, is driving efficiency and diversity.• ...

Source: Agrobusiness