The dairy nutrition market involves products focused on providing nutritional supplements to enhance the nutritional value of dairy products. With growing consumer awareness regarding health and fitness, demand for healthy and nutrient rich dairy products is increasing. Dairy products fortified with proteins, vitamins, minerals, prebiotics and probiotics are gaining traction as they provide additional nutrients and health benefits.
The global dairy nutrition market is estimated to be valued at US$ 19.57 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period of 2024 to 2030.
Key Takeaways
Key players operating in the dairy nutrition market size are Thermo Fisher Scientific, DSM, Acelity (KCI Concepts), Corning Incorporated, Baxter, FUJIFILM Holdings Corporation, Integra LifeSciences, CellSystems Biotechnologie Vertrieb GmbH, Biotime, Inc., Trevigen, Inc., Advanced BioMatrix, Collagen Matrix, Inc., Merck KGaA, VWR International LLC, REPROCELL USA Inc., BioLamina AB, Matricel GmbH, Tissue Regenix, Admedus, MIMETAS. Innovation, expansion and strategic partnerships are some of the key focus areas of these players to strengthen their foothold in the market.
The dairy nutrition market provides significant opportunities for fortifying dairy products with additional nutrients to cater to the growing demand for healthy, nutritious and functional foods. Further, expansion into emerging markets of Asia Pacific and Latin America provides vast opportunity for dairy nutrition product providers owing to growing health awareness in these regions.
Key players are expanding their global presence through acquisitions and opening of new production and laboratory facilities across regions. For instance, in 2023, Advanced BioMatrix acquired Collagen Matrix and expanded its product portfolio and capabilities in biofunctionalizing matrices for regenerative medicine. Asia Pacific is expected to witness strong growth owing to increasing demand from China, India and other South East Asian countries.
Market Drivers
Growing health and wellness trend has increased demand for nutrient-rich dairy products fortified with proteins, vitamins, prebiotics and probiotics. Manufacturers are offering various fortified products to capitalize on this growing demand.
Rising incomes and living standards in developing countries is driving greater affordability of dairy nutrition products.
Market Restraints
High research and development costs associated with dairy nutrition products increases their overall price making them unaffordable for some consumers.
Stringent regulatory framework for new ingredients and products increase time to market and approval process for dairy nutrition product providers.
Segment Analysis
The dairy nutrition market size can be segmented into infant formula, growing-up milks, dairy-based drinks, and medical nutrition. The infant formula segment is expected to dominate the market during the forecast period. Infant formula provides complete nutrition for infants and mimics breast milk. However, due to increasing working women population and busy lifestyles, infant formula has become the preferred choice among consumers as an alternative to breastfeeding. Moreover, major market players are focusing on developing premium and specialized infant formulas for newborns, which is further enhancing the growth of this segment.
Global Analysis
North America is expected to be the fastest growing region in the dairy nutrition market during the forecast period. This is mainly attributed to the increasing healthcare expenditure, growing prevalence of chronic diseases, rising consumption of nutritional food products, and presence of major market players in the region. For instance, countries like the US and Canada have witnessed a significant increase in people opting for dairy-based nutritional products to maintain a healthy lifestyle. Europe is projected to be the dominant region due to increasing government focus on promoting dairy in daily diets. Asia Pacific is also expected to offer lucrative opportunities for market expansion due to rising birth rates and growing middle-class population in countries like India and China.
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