Dairy products with convenience and healthy benefits will drive demand

Demand for healthy breakfast options drives the growth of products with Health & Wellness attributes

The global dairy & soy food sector was valued at US$426.6 billion in 2017, of which 36.9% of revenue was generated by milk. Rising participation of women in the workforce, coupled with long working hours is leaving consumers with less time to focus on nutrition. Dairy products are well positioned to capitalize on this consumer need due to their inherent health benefits and convenient formats. The improving global economy is anticipated to revive demand for the dairy & soy food sector and it is forecast to record a CAGR of 4.4%during 2017–2022.

Growing consumer desire to boost nutritional intake of nutrients such as calcium and protein, as well as the micronutrients such as vitamins and minerals available naturally in dairy products, is driving demand for dairy & soy food with health & wellness attributes. Additionally, as consumers increasingly switch from traditional breakfasts to nutritional yet convenient alternatives, they find dairy & soy food with health & wellness claims highly appealing.

As a result of the growing awareness of health issues across the Asia-Pacific (APAC) region, consumers are expected to switch to functional dairy products fortified with vitamins. Therefore, product specificity will emerge as the key driver and dairy & soy manufacturers should focus on offering bespoke products.

GlobalData’s report, Opportunities in the Global Dairy & Soy Food Sector, brings together multiple data sources to provide a comprehensive overview of the global dairy & soy food sector as part of our global series. It includes analysis of global dairy & soy food sector with consumption analysis highlighted for all regions. The report also identifies high potential countries by region that have been identified by creating a risk-reward analysis with multiple parameters.

• The report provides an overview of global and regional markets covering – Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe – highlighting sector size, growth drivers, latest developments, and future inhibitors for the region.
• It also identifies the top ten high potential countries and provides a deep dive analysis of the top two countries in each region.
• The report draws on the sector data by analyzing key distribution channels for dairy & soy food in the global market.
• The report also includes insights on health & wellness products in terms of value and percentage share in the overall dairy & soy food sector at a global and regional level during 2012-2022.

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