APAC Dairy Products Market to Grow at Double Digit CAGR through 2025
Awareness about healthy lifestyle &
wellness, disposable income, technology trends, growth in population, a shift
in consumption pattern towards branded dairy products are some of the drivers
of Asia-Pacific dairy products market
According
to a recently released TechSci Research, “Asia-Pacific Dairy Products Market By
Product Type, By Distribution Channel, By Country, By Company, Competition,
Forecast & Opportunities, 2025”, dairy
products market in Asia-Pacific is projected to grow at a CAGR of more than 10%
during 2020E-2025F on account of growing population, increasing consumption of dairy
products and rising awareness about following a healthy lifestyle. Growing
urbanization, innovation in food technology, growing demand for functional and
nutrition enriched dairy products are some the other key drivers of the dairy
products market in Asia-Pacific. The market is witnessing a shift towards branded
dairy products due to rising concerns among young adults and adults about their
health, which is expected to positively influence the region’s dairy products market
during forecast period.
Browse more than 59 market data Figures spread
through over 90 Pages and an in-depth TOC on"Asia-Pacific
Dairy Products Market"
https://www.techsciresearch.com/report/asia-pacific-dairy-products-market/4554.html
The distribution
channel of Asia-Pacific dairy products market is categorized into Modern
Departmental Stores, Traditional Departmental Stores and Others (Online Retail
Stores, etc.). Modern Departmental Stores and Traditional Departmental Stores cumulatively
account for around 90% of the market share. However, during the forecast period,
the share of modern departmental stores is expected to comparatively decline on
account of increasing focus of companies to make their products reach traditional
department stores and other channels. Urban areas remain the dominant
consumption markets, however, deeper penetration in rural areas is expected to
drive volume growth for large product segments such as milk in the coming years.
The
region’s market for dairy products was dominated by India in 2019 on account of
a greater number of customers, who prefer healthy dairy products in their breakfast,
meal and dinner. India, China and Japan will continue to remain the largest
markets due to huge and expanding population base, rising awareness about
healthy lifestyle and cultural love for food. Major players operating in Asia-Pacific
dairy products market include Nestle, Karnataka Cooperative Milk Producers
Federation Ltd., Gujarat Cooperative Milk Marketing Foundation Ltd.(AMUL),
China Mengniu Dairy Company Ltd., Unilever, Fonterra Co-operative Group Ltd,
Megmilk Snow Brand Co., Ltd., Mondelez Asia Pacific Pte Ltd, Arla Foods,
Danone, Royal Friesland Campina and others. Leading players are focusing on
expanding their dairy product portfolios to maintain sustainable growth in the
market.
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“Asia-Pacific
dairy products market is expected to grow at a steady pace due to the rising
awareness regarding a healthy lifestyle and the growing popularity of branded
and healthy dairy products. All in all, the trend looks like that the companies
will no longer be able to rest on their laurels in the future and that
consumers want to be surprised by innovative products that support their
personal health planning. Adults and young adults are the main primary buyers
of dairy products and they are also the target consumer segments for the major
players operating in the market.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Asia-Pacific
Dairy Products Market By Product Type, By Distribution Channel, By Country, By
Company, Competition Forecast & Opportunities, 2025” has evaluated the future growth
potential of Asia-Pacific dairy products market and provides statistics and
information on market structure, consumer behaviour and trends. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and
analyses the emerging trends along with essential drivers, challenges and
opportunities available in Asia-Pacific dairy products Market.
About TechSci
Research
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Research is a leading global market research firm publishing premium market
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