The market for dairy products is amongst the most dynamic markets globally. These products include a wide range of products including yoghurt, cheese, buttermilk, lactose-free milk, and ice-cream, among others. Owing to the launch of functional dairy products, the dairy industry is predicted to experience a robust growth in the coming years. The introduction of innovative dairy products such as vitamin-enriched, ready-to-eat and organic convenience foods, the market for dairy products has grown exponentially.
The prime factors fuelling the dairy products market are:
- Ageing population: By the end of 2015, Europe alone will have twice as many adults aged between 55-74 years. Older people have relatively smaller households and sometimes they stay away from their families. They have smaller appetites in comparison to the young crowd. Due to this dairy manufacturers are becoming more creative in the health claims employed by them. Manufacturers have introduced fibre-rich content in order to meet the digestive requirements of older adults, thus using the overall intake, as a result boosting the market.
- Pro-protein: The intake of protein is a prominent trend seen in the dairy industry. This is why manufacturers are coming up with thick and creamy yoghurts that are Green-style yoghurts. These yoghurts are used as meal replacers in countries such as Germany, as opposed to desserts and snacks. Protein builds the bone density and muscle mass of a person and helps fight against various ailments by making a person’s body stronger. This increasing inclination towards protein-rich foods is also stimulating the market for dairy products.
- The Evil ingredient- Sugar: The market for yoghurts is focusing on products having less fat. Recently, there is an increased trend for reduced sugar rather than no fat or low-fat yoghurt owing to the fact that sugar is said to be a bigger evil than fat owing to rising concerns on diabetes. Thus, the emergence of thick yoghurts full cream yoghurts replacing desserts of all kinds is a prime factor augmenting the dairy products market.
Thus, the market for dairy products is poised to grow expeditiously in the coming years primarily because of the growing inclination of people towards a healthier lifestyle resulting in the intake of healthier food options.