The dairy blend market is anticipated to grow at a considerable CAGR of 8.2% during the forecast period (2024-2031). The market growth is driven by the availability of dairy blends in a variety of flavors, adoption in a variety of food preparations, and the rise in demand as an alternative dairy product. The dairy blends market is segmented by type (dairy mixtures, dairy/non-dairy ingredients, dairy as functional ingredient, dairy as carrier, and others (combinations, dairy/protein derivatives, and dairy/non-dairy fat components)), by form (spreadable, powder and liquid), and by application (food (ice cream, butter & cheese spreadable, confectionery, bakery, and yogurt), infant formula, beverages and others (cocoa preparations and chocolate)), and by geography (North America, Europe, Asia-Pacific, and the Rest of the World).
Market Dynamics
- Dairy mixtures is projected to emerge as the largest segment, owing to the low cost of products provided by the dairy processing facilities, and the increasing use of dairy blend products by hotel & restaurants, fast food chains, quick service restaurants, and other food outlets.
- Affordable dairy blends are now readily available in the market, with street food vendors using butter and cheese mixes for the majority of their menu items. Furthermore, the dairy blends have a lower fat content than the original butter, contributing to the health benefits and hence the market growth.
- The baking and confectionery industry held the major market share, attributed to rising use in both cakes and bread. The mixtures are perfect substitutes for the traditional milk and butter.
- European countries are increasingly investing in dairy blends, owing to the rising rates of fertilization and consequent increase in the demand for baby food and formula. The lower cost of dairy brands than dairy products, and it being a low-fat substitute is driving the regional market.
- Asia-Pacific dairy blend market is driven by the population growth of working women and the rate of urbanization in China and India. Dairy blends have become a popular alternative to traditional infant feeds such as rice and oatmeal, in the region since they take less time to prepare.
- Dairy blends are additionally rich in nutrients that promote infant health. Additionally, they are easy to store and have a longer shelf life as compared to alternatives like milk and butter contributing significantly to the regional market growth.
The major companies serving the global dairy blend market include Cargill, Inc., Kraft Heinz, Fonterra Co-Operative Group Ltd., Galloway Company, Inc., Abbott, and Hormel Foods Corp., among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions. For instance, in January 2024, Pineland Farms Dairy expanded its product portfolio from cheese to milk, ice cream mixes, and dairy blends.
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