Global Fermented Milk Market – Industry Trends and Forecast to 2029

Global Fermented Milk Market, by Type (Cheese, Yogurt, Butter, Sour Cream, Others); Distribution Channel (Specialty Stores, Supermarket and Hypermarket, Online Stores, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

As the global population grows, consumers who are lactose intolerant are shifting their preferences to fermented milk and other everyday products that are easier to consume and digest. There is a significant shift in consumer consumption patterns, and as a result, they are demanding the availability of healthy products that contribute to global market growth and massive expansion of market players involved in processing and manufacturing plans.

Data Bridge Market Research analyses that the fermented milk market was valued at USD 264.8 billion and is expected to reach the value of USD 394.22 billion by 2029, at a CAGR of 5.1% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Report Scope and Market Segmentation

Market Definition

Fermented milk is created when milk is fermented with bacteria such as Lactobacilli or Bifid bacteria. Fermentation occurs when bacteria partially digest milk. This makes fermented milk easier to digest, especially for people who are lactose intolerant or allergic to milk. Furthermore, fermentation extends the product's shelf life.

Fermented Milk Market Dynamics

Drivers

• Rising prevalence of digestive disorders by lactose intolerance around the world

People are becoming more aware of digestive disorders caused by lactose intolerance, such as bloating, diarrhoea, and abdominal cramps. Lactic acid, which is present in fermented dairy products, is beneficial in treating these digestive disorders. As a result, fermented dairy products become an essential part of everyone's daily diet which in turns led to increase in the demand for fermented dairy products.

• Various improved and versatile products offered by the manufacturers

Increased product launches are also expected to drive global fermented milk market growth during the forecast period. The development of new products with improved taste and versatility, combined with strong marketing support, has resulted in the recent launch of several new products. The fermented milk market outlook is expected to be positive due to the introduction of several new products during the forecast period.

Opportunity

Aside from health benefits, the fermentation process helps to extend the shelf life of dairy products while also improving their taste and aroma. As a result, the market's significant growth can be attributed to the versatile properties of fermented dairy products. Growing penetration of e-commerce platforms, particularly in developing economies, and stringent laws to ensure high-quality organic milk production will all drive market value growth.

Restraints

However, selecting an appropriate culture for the fermentation process of dairy products is a significant issue for fermented dairy product manufacturers. As not all cultures help extend shelf life, the fermented milk market growth is limited. Furthermore, government regulations in certain countries regarding permissible culture used in the fermentation process impede market growth.

This fermented milk market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the fermented milk market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Fermented Milk Market

The pandemic's arrival has harmed the functioning of fermented milk products market size market players and is further limiting their growth potential during the period. However, with rising consumption as a result of the target audience's healthy lifestyle and preferences, market operations are expected to improve during the forecast period. In addition, the government is supporting initiatives that will increase milk consumption and improve public health.

Recent Development

• DuPont N&B launched a new culture series for fermented dairy ingredients in April 2020, heralding it as a new industry standard for yoghurt manufacturers.
• Carbery introduced Bifipro fermented dairy ingredients in April 2019, which provide a unique combination of high-quality protein and prebiotic promoting properties.

Global Fermented Milk Market Scope

The fermented milk market is segmented on the basis of type and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Cheese
• Yogurt
• Butter
• Sour cream
• others

Distribution channel

• Specialty Store
• Supermarket/Hypermarket
• Online Store
• Others

Fermented Milk Market Regional Analysis/Insights

The fermented milk market is analysed and market size insights and trends are provided by country, type, category, packaging type and distribution channel as referenced above.

The countries covered in the fermented milk market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America.

North America holds a sizable market share. The market for fermented dairy products is expanding due to rising health consciousness and shifting consumption patterns. The growing consumer interest in therapeutic products containing probiotic bacteria is propelling market growth.

Asia-Pacific is a promising region for the expansion of the fermented dairy products market. Traditionally, dairy products were fermented, but with newer technologies and product innovations, consumers are gravitating toward commercialised fermented dairy products. As a result, the market for fermented dairy products is growing faster.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Fermented Milk Market Share Analysis

The fermented milk market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to fermented milk market.

Some of the major players operating in the fermented milk market are:

• Bayer AG (Germany)
• Abbott (U.S.)
• DSM (Netherlands)
• DuPont. (U.S.)
• Amway (U.S.)
• The Nature's Bounty Co. (U.S.)
• Nestlé SA (Switzerland)
• Premier Nutrition Corporation (U.S.)
• Health Food Manufacturers' Association (U.K.)
• NOW Foods (U.S.)
• Glanbia PLC (Ireland)
• Herbalife International of America, Inc. (U.S.)
• Bionova (India)