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

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.• ...