Fermented Milk Market: Global Growth Fueled by Innovative Products and Rising Demand

Projected to reach $396.87 billion by 2026, driven by evolving consumer preferences and increased production of dairy items.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, April 18, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research titled "Fermented Milk Market by Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026," the fermented milk market size was valued at $264.77 billion in 2018 and is projected to reach $396.87 billion by 2026, growing at a CAGR of 5.1% from 2019 to 2026. North America dominated the market in 2018, accounting for 36.7% of the total market share. The fermented milk market exhibits an incremental revenue opportunity of $132.1 billion from 2019–2026.

▶️ 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/request-sample/A05952

The fermented milk market holds substantial scope for market growth. The market is currently in its growth stage; however, its contribution to the global market is expected to increase significantly during the fermented milk market forecast period. The rise in demand for flavored yogurt and cheese has forced the market to produce innovative products such as flavored cheese, flavored butter, and fruit-flavored dairy items. The growth of the global population and the rise in per capita income boost market growth, thus increasing the production of dairy items. The change in taste and preference of consumers affects sales, which, in response, leads manufacturers to develop differentiated products as per consumer dietary concerns. Numerous players are entering the fermented milk products market with innovative food products using milk as their base. Emerging innovative food items are expected to increase market competition in the years to come.

The growth in population in developing countries, such as China and India, has increased the demand for yogurt, butter, and cheese to fulfill their food requirements. This increase in population, coupled with per capita income, has increased the demand for dairy products, further raising the production of milk. The per capita income measures the average income earned per person in a given area (city, region, and country) in a specified year. It is used to measure a country's standard of living by dividing the area's total income by its total population. In emerging countries, per capita income is higher compared to developed countries, and hence, the consumption of dairy products is eventually higher.

▶️ 𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 : https://www.alliedmarketresearch.com/request-for-customization/A05952

The fermented milk market is segmented on the basis of type, distribution channel, and region. By type, it is categorized into cheese, yogurt, butter, sour cream, and others. The yogurt segment was valued at $130.1 billion and is expected to grow at a CAGR of 5.5% (2019–2026) to reach $199.9 billion by 2026. The other segment is expected to be the fastest-growing segment, with a CAGR of 7.3% during the forecast period. The fastest growth in the other segment is attributed to the increased demand from consumers for different types of dairy products made from organic and non-dairy milk.

By distribution channel, it is categorized into specialty stores, supermarkets & hypermarkets, and online stores. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, France, Netherlands, Germany, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, the United Arab Emirates, and Rest of LAMEA). Countries like Australia, the U.S., and the UK, NORDIC countries, India, China, and ASEAN countries are the largest spenders on dairy products. In addition, factors such as product availability, socio-economic status, per capita expenditure, and consumer purchasing power are responsible for the growth of the fermented milk market in these regions.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

📍 The sour cream segment is expected to grow at a CAGR of 6.4% during the forecast period.

📍 Asia-Pacific is anticipated to dominate fermented milk market growth, registering a CAGR of 7.1%.

📍 North America is projected to contribute the highest market share during the forecast period, with around 35% of the of the fermented milk market share in 2026 and a CAGR of 3.6%.

📍 The online store distribution segment is anticipated to dominate the fermented milk market with a CAGR of 2.6% during the forecast period.

📍 The specialty stores segment is estimated to grow at a CAGR of 4.3% during the forecast period.

▶️ 𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭 : https://www.alliedmarketresearch.com/connect-to-analyst/A05952

The global fermented milk market is fragmented by the presence of several market participants across various regions. The strong presence of private label brands gives tough competition to global players. The key players operating in the global fermented milk industry include Danone, Nestle, Parmalat S.p.A., Yakult, Chobani LLC, Yoplait, Arla Foods, Muller, Britannia Industries Limited, and FrieslandCampina.

David Correa
Allied Market Research
+1 5038946022
help@alliedmarketresearch.com
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