Health Benefits of Dairy Blends to Drive the Market Growth in Coming Years

The dairy blends market is projected to reach USD 3.56 Billion by 2022, at a CAGR of 8.1% from 2016. The growth in demand for low-fat spreadables is the main driving factor of this market.

The market, based on type, has been segmented into dairy mixtures, dairy/non-dairy ingredients, dairy as functional ingredient, dairy as carrier, and others. Dairy/no on-dairy ingredients accounted for a largest market share in 2015. This type has a wide range of applications in different industries such as infant formula, dairy formulations, bakery, other dairy products, nutritional bars/nutritional formula, cocoa, and confectionery.
The dairy blends market, based on application, has been segmented into ice cream, yogurt, infant formula, bakery, feed, butter & cheese blends, beverages, and others. The bakery segment accounted for the largest share of the market in 2015. Increase in health-consciousness, is fueling the demand for low-calorie bakery products among consumers. This is expected to drive the market for dairy blends as functional ingredients in this particular segment. Dairy blends are cost-effective alternatives to butter, with lower fat content, and do not have the negative impact on the taste of the products like margarine does. Hence, their demand in the bakery industry as a replacement for these two ingredients is increasing.
The market, based on form, has been segmented into spreadable, liquid, and powder. The spreadable segment accounted for the largest share in 2015. The spreadable form is widely used as a substitute for butter and margarine, the demand for which was discussed above. This form has many applications in industries such as bakery, yogurt, ice cream, cheese & butter blends, infant formula, and feed. These factors are increasing the demand for this form of dairy blends.
The dairy blends market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period.  Key drivers for the growth of this market include increase in disposable income, growth in demand from developing and populous countries such as China, Japan, South Korea, and India, and the presence of a large-scale dairy sector in Australia & New Zealand.
The market was dominated by players such as Fonterra Co-operative Group Ltd. (New Zealand), Doehler Group (Germany), Agropur ingredients (Canada), Royal FrieslandCampina N.V. ( Netherlands), and Kerry Group (Ireland).

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