The Fortified Milk and Milk Products market is valued at USD 110 Bn in 2022 and is projected to grow at a CAGR of 4.3% during the forecast period, to reach a value of USD 167 Bn by 2032. Newly released data from Future Market Insights market analysis shows that global fortified milk and milk products demand is projected to grow year-on-year (Y-o-Y) growth of 2.9% in 2022.
| Attributes | Details |
|---|---|
| Market Size Value in 2022 | USD 110 Billion |
| Market Forecast Value in 2032 | USD 167 Billion |
| Global Growth Rate (2022 to 2032) | 4.3% CAGR |
| Forecast Period | 2022 to 2032 |
| Collective Value Share: Top 3 Countries (2021A) | 42.4% |
Fortified milk and milk products are products that have been enriched with or fortified with vitamins, minerals, and other nutrients that are lacking in certain age groups. Due to its many uses and healthful properties, milk is one of the most popular dairy products in the world.
By consuming fortified milk and milk products, consumers can prevent or treat numerous diseases, including osteoporosis, night blindness, xerophthalmia, anemia, and many others, which are frequently brought on by inadequacy or a lack of specific vitamins and minerals.
The use of fortified milk and milk products has been linked to several health benefits, which has increased demand for the product on the international market. And as a result, the industry has grown faster over time.
Now that milk consumption is the norm in developing countries, the market for fortified milk and milk products worldwide is expanding. As a result, milk is a worldwide food item that is consumed by both the rich and the poor, regardless of whether a country is developed or developing. The growth of the market is significantly impacted by how cheap milk and milk products are.
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The market grew with a CAGR of 3.5% between 2017-21 as growing consumer demand for healthy food products is driving the market for fortified milk and milk products every consumer has always believed that "Health is Riches" because it is impossible to accumulate wealth without it.
Consumers are aware of the products they eat. They seek out high-quality food items that are good for their health. Additionally, this group of food items includes fortified milk and milk products. A great source of vitamins and minerals is fortified milk. Fortified milk and milk products' positive effects on health are key factors in the industry's expansion.
Vitamins have been the greatest revenue-generating category, contributing to the entire sales of the global market for fortified milk and milk products. This is because vitamin deficiencies have raised a demand for fortified milk and milk products, which accounts for more than half of the market share.
However, due to their significance as crucial micronutrients in fortified milk and milk products, the minerals category is anticipated to rise more strongly over the coming years. Manufacturers and industry professionals claim that milk and dairy products are easier to fortify than the majority of other foods. Income creation will continue to be supported by fortified milk and milk products' demonstrated effects on reducing nutrient insufficiency diseases.
As far as dairy products go, they are renowned for being calcium-rich foods, and popular fortified dairy products like milk have been on the market for a few years now. Milk continues to be the food that consumers of all ages are most advised to drink since it is a high source of calcium, vitamin D, potassium, and magnesium. This is projected to increase demand for fortified dairy products during the forecast period.
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According to FMI, North America held a 32.6% market share of the global market for fortified milk and milk products in 2022. This is because technological innovation is advancing and helping to produce milk and milk products that are good for one's health. Additionally, the busy schedules of individuals are driving up their demand for fortified milk and milk products to satisfy their dietary demands, which is driving up the market for fortified milk and milk products.
The projected period of 2022–2032 is expected to witness the fastest market growth in the Asia Pacific, particularly in China, Japan, and India, as a result of increased consumer desire for healthier meals, which is also boosting demand for fortified milk. Because of their increased nutritional value, fortified milk products are being produced more frequently in China and India, which is accelerating market expansion.
The Milk category is expected to be the most revenue-generating in 2022, as milk is seen as a necessity given its significance for caloric intake and is taken regularly, plus it has been fortified with vitamin D hence pushing market expansion.
The Fortified Dairy Products Market's Micronutrients segment can be further broken down into Vitamins, Minerals, and Others. Due to the high vitamin D content of dairy products, which supports bone health and promotes wound healing, the vitamins category will account for the greatest market share for fortified milk and milk products in 2022. Vitamin is also thought to be among the safest and most effective nutrients, which has led to a rise in the use of vitamins in dairy products and a growth in the market.
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Players in Tier 1 fortified milk and milk products industry, including Nestle SA, BASF SE, Danone SA, and others, have been growing their product lines in lucrative areas like the US, India, China, and Germany.
Companies are spending money on research and development to provide new uses for fortified milk and milk products. Examples include breakfast milk drinks, flavored protein milk drinks, and other creative fortified dairy products.
For instance, the milk drink Nesquik-SuperBreakfast, which is high in protein, was introduced by Nestle USA in 2018. Nestle USA's income has increased as a result of the market introduction of new fortified dairy products.
| Attribute | Details |
|---|---|
| Market Size Value in 2022 | USD 110 Billion |
| Market Forecast Value in 2032 | USD 167 Billion |
| Global Growth Rate | 4.3% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | MT for Volume and USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, Chile, Peru, Germany, France, Italy, Spain, UK, Netherlands, Belgium, Nordic, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, North Africa, and others |
| Key Market Segments Covered | Product Type, Micronutrients, Sales Channel |
| Key Companies Profiled |
Arla Foods Ltd; Fonterra Co-operative Group; FrieslandCampina; Guangming Dairy Co., Ltd.; China Modern Dairy Holdings Ltd.; The Kraft Heinz Company; Dean Foods; Gujarat Cooperative Milk Marketing Federation Ltd.; Nestle S.A.; SanCor Cooperatives United Limited; Others |
| Pricing | Available upon Request |
The Fortified Milk and Milk Products market is estimated to reach sales of nearly USD 110 Bn by 2022.
Fortified Milk and Milk Products market revenue is expected to increase at a CAGR of around 4.3% during the period 2022-2032.
Fortified Milk and Milk Products sales increased a CAGR of around 3.5% over the past half-decade.
The global Fortified Milk and Milk Products market value is estimated to be around USD 167 Bn in 2032.
The top countries driving the Fortified Milk and Milk Products demand are the US, Germany, China, and UK.
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Fortified Milk and Milk Products Market
