The dairy blend market is anticipated to grow at a considerable CAGR of 8.2% during the forecast period (2024-2031). The market growth is driven by the availability of a variety of flavors in dairy products for producing different food and beverage combinations such as toppings on baked foods like bread made from liquid dairy mixes. Additionally, the rise in demand for dairy mixtures as an alternative to dairy products, such as whole milk, is driving the market growth during the forecast period. The global dairy blends market is segmented by type (dairy mixtures, dairy/nondairy ingredients, dairy as functional ingredient, dairy as carrier, and others (combinations, dairy/protein derivatives, and dairy/non-dairy fat components)), by form (spreadable, powder and liquid), and by application (food (ice cream, butter & cheese spreadable, confectionery, bakery, and yogurt), infant formula, beverages and others (cocoa preparations and chocolate), and geography (North America, Europe, Asia-Pacific, and the Rest of the World).
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Market Dynamics
- Dairy mixtures are projected to emerge as the largest segment owing to the low cost of products provided by the dairy processing facilities. Additionally, the increase in the use of dairy blend products by hotels & restaurants, fast food chains, quick service restaurants, and other food outlets is contributing to the segment growth. Furthermore, the low-fat concentration in the dairy blends, as against traditional butter is propelling the segment growth.
- The baking and confectionery industry is anticipated to hold the largest market share during the forecast period, owing to the rising applications of dairy blends in the industry, such as the use of spreadable powdered blends for both cakes and bread.
- Europe is anticipated to grow at a significant rate, owing to the increased demand for baby food and formula, the lower price of dairy blends, and dairy blends being a better substitute for butter.
- Asia-Pacific is expected to hold the largest market share during the forecast period. The regional growth is attributed to the growing population of working women, increasing urbanization in China and India, and the growing need for baby formula and food.
- Additionally, as dairy blends are economical, easy to store, and have a longer shelf life than milk and butter, the demand for dairy blends is increasing in the Asia-Pacific region.
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The major companies serving the global dairy blend market include Cargill, Inc., Kraft Heinz, Fonterra Co-Operative Group Ltd., Galloway Company, Inc., Abbott, and Hormel Foods Corp., among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, and mergers and acquisitions, among others, to contribute significantly to the market growth.
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