Fermented Milk Market

The fermented milk market holds a substantial scope for the market growth. The market is currently in its growth stage

PORTLAND, OR, US, July 17, 2023/EINPresswire.com/ -- Surge in demand for dairy beverages and products across the globe drives the growth of the global fermented milk market. North America contributed the highest share in 2018, and will maintain its dominance throughout the forecast period. The bioactive protein of fermented milk helps improves the immunity of the body, which is expected to increase the demand for fermented milk during the Covid-19 pandemic. 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.

𝐋𝐈𝐌𝐈𝐓𝐄𝐃-𝐓𝐈𝐌𝐄 𝐎𝐅𝐅𝐄𝐑 - 𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝟏𝟓% 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/checkout-final/1d25c4d870f61af0b665a19f32ae739b

Surge in demand for dairy beverages and products across the globe and growing awareness among consumers for losing weight drive the growth of the global fermented milk market. However, rise in awareness of using vegan products is anticipated to restrain the market growth. Furthermore, increasing demand for organic yurt is expected to provide new growth opportunities during the forecast period.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

The global fermented milk market is fragmented with the presence of several market participants across various regions. The strong presence of private label brands gives a 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.

Based on type, the yogurt segmentcontributed to the largest share in 2018, accounting fornearly half of the total share, and is estimated to maintain its dominant position during the forecast period. However, thesour cream segmentis estimated to portray the highest CAGR of 6.4% during the forecast period.

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 requirement. 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 more compared to developed countries and hence, the consumption of dairy products is eventually higher.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/6317

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 others segment is expected to be the fastest growing segment with a CAGR of 7.3% during the forecast period. The fastest growth of the others segment is attributed to the increased demand from consumers for different types of dairy products made by organic and non-dairy milk.

By distribution channel, it is categorized into specialty stores, supermarket & hypermarket, 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 fermented milk market in these regions.

Based on region,North Americacontributed the highest share, accounting formore than one-thirdof the total market sharein 2018, and will maintain its dominance throughout the forecast period.However,Asia-Pacificisexpected to grow at the highest CAGR of 7.1% from 2019 to 2026.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝: https://www.alliedmarketresearch.com/request-for-customization/6317

𝐁𝐫𝐨𝐰𝐬𝐞 𝐒𝐨𝐦𝐞 𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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Dairy Blends Market - https://www.alliedmarketresearch.com/dairy-blends-market-A11037

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