World Market for Dairy Products and Alternatives

October 2022

Inflationary challenges are driving retail value performance in dairy products and alternatives in 2022, but slight drop in retail volume. Plant-based dairy remains the driver of growth as consumers continue to associate these alternatives as a healthy product. There is also room to grow product innovations around functionality, sustainability and elevated experiences.

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Examining Five Trends Shaping Dairy Products and Alternatives

Inflationary pressures force shifts in company strategies and consumers’ purchasing behaviour

Aside from supply chain bottlenecks and high transportation costs, the dairy products and alternatives industry is facing inflationary pressures from industry-specific issues, like the rise in feed and fertiliser prices. This has resulted in increased demand for affordable offerings and changes to price/package mix by manufacturers.

Plant-based dairy gains ground driven by health reasons and innovation aiming to replicate dairy counterparts

Plant-based dairy continues to show strong potential, and this is expected to continue in years to come, gaining penetration across the entire dairy spectrum. The future of plant-based dairy will be driven by efforts directed towards replicating dairy as much as possible.

Functionality remains a focus for innovation, with new frontiers targeting need states

Fortified/functional dairy products and alternatives are perceived as proactive solutions to tackle health concerns and are gaining traction. Opportunities are emerging for functional products in the dairy products and alternatives industry that address consumer needs relating to immunity, gut health and mental wellbeing.

Sustainability remains central to long-term strategies in the dairy industry

Manufacturers and ingredients companies are continuously working on improving their long-term sustainability credentials. Dairy players are no exception and are innovating in areas such as carbon neutrality and food waste.

Consumers’ value of home-centric experiences persists post-pandemic

As consumers have fewer out-of-home activities than pre-pandemic, and are reducing lifestyle expenses, dairy products and alternatives positioned for elevated consumption experiences within the home are growing.

Scope
Examining five trends shaping dairy products and alternatives
Dairy delivers flat retail value growth for 2022 but recovery to be seen over forecast period
Dairy prices on the rise fuelled by soaring input costs
Plant-based dairy shows fastest growth while cheese registers highest per capita sales
Cheese finds best performance in Asia while plant-based dairy is most dynamic in all regions
Drinking milk shows strongest growth in Middle East and Africa but declines in Western regions
US: Abbott recall worsens milk formula supply issues
India and Indonesia forecast to see the most dynamic growth in the dairy industry
Plant-based benefits from increased adoption while soft drivers challenge baby food sales
Grocery retailers is the biggest channel while e-commerce is the most dynamic
Innovation within delivery solutions booms for baby food in the US and China
Small brands see overall growth except in Asia Pacific
Turkey: Inflation correlates with growth of private label shares
UK: Consumers willing to pay slightly more for global brands
Danone leads but declines, while Yili gains share
Cereal Base and Mastellone see strong growth but challenges remain ahead
Examining five trends shaping dairy products and alternatives
Companies and consumers alike cope with inflationary challenges
Plant-based dairy posts healthy growth, led by plant-based cheese
Millennials are the most frequent plant-based dairy consumers; health remains the top reason
Innovation in plant-based dairy categories stays strong
Functionality remains a focus for innovation, with new frontiers targeting need states
Analysts’ opinions: What ingredients and health benefits do consumers associate with gut health ?
High-protein dairy continues its stellar performance despite its maturity
Spurring innovation tackling carbon neutrality and food waste in dairy
Baby food leads in packaged food sustainability claims driven by organic label
Consumers' value of home-centric experiences persists post-pandemic
Dairy product innovations spur new culinary adventures
Hungary: Grill Party cheese selection taps into social occasions and barbecue trends
Global snapshot of baby food
Global snapshot of butter and spreads
Global snapshot of cheese
Global snapshot of drinking milk products
Global snapshot of yoghurt and sour milk products
Global snapshot of other dairy
Global snapshot of plant-based dairy
Regional snapshot: Asia Pacific
Regional snapshot: North America
Regional snapshot: Latin America
Regional snapshot: Western Europe
Regional snapshot: Middle East and Africa
Regional snapshot: Eastern Europe
Regional snapshot: Australasia
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