Dry, Condensed, and Evaporated Dairy Product Market was valued at USD 25.4 Billion in 2022 and is projected to reach USD 35.7 Billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
The global market for dry, condensed, and evaporated dairy products was valued at approximately USD 65 billion in 2022. The market is anticipated to grow at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. Dry dairy products, including milk powders and cheese powders, are projected to dominate the market due to their extended shelf life and convenience in food processing. Condensed and evaporated dairy products also hold a significant market share, driven by their use in confectionery, bakery products, and beverages. The growing demand for convenience foods and increasing consumer preference for dairy-based products in emerging economies are contributing to market expansion.
Opportunity analysis reveals that the Asia-Pacific region presents substantial growth prospects due to rising disposable incomes, urbanization, and a growing middle-class population. Furthermore, the increasing trend of incorporating dairy products into various culinary applications, coupled with advancements in dairy processing technologies, is likely to bolster market growth. The expansion of e-commerce platforms and the rising trend of health-conscious consumers seeking protein-rich and nutrient-dense products are additional factors driving the demand for dry, condensed, and evaporated dairy products. The market's potential is further enhanced by innovative product offerings and strategic partnerships within the industry.
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Nestle S.A
The J.M. Smucker Company
GCMMF PVT LTD
Magnolia Inc.
Goya Foods Inc.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Dry, Condensed, and Evaporated Dairy Product Market
Supermarket
Hypermarket
E-Commerce
Others
Based on Types the Market is categorized into Below types that held the largest Dry, Condensed, and Evaporated Dairy Product market share In 2023.
Dry Dairy Product
Condensed Dairy Product
Evaporated Dairy Product
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Dry, Condensed, and Evaporated Dairy Product Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Dry, Condensed, and Evaporated Dairy Product Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Dry, Condensed, and Evaporated Dairy Product Market, By Type
6. Global Dry, Condensed, and Evaporated Dairy Product Market, By Application
7. Global Dry, Condensed, and Evaporated Dairy Product Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Dry, Condensed, and Evaporated Dairy Product Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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