The global reduced-fat dairy market is projected to have an average-paced CAGR of 4.7% during the forecast period. The current valuation of the market is USD 75.75 Billion in 2023. The market value of the reduced-fat dairy market is anticipated to surpass a market valuation of USD 119.91 Billion by 2033. A historical market valuation of USD 72.35 Billion has been recorded by the analysts of Future Market Insights for the concerned market during the base year.
Growth of the Market is Supported :
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Although the reduced fat dairy market reduced dairy market is witnessed to have healthy growth, it is identified that a certain number of factors prevailing in the market are likely to hinder the pace of the market in the long run.
A large number of people in developing economies are estimated to lack awareness regarding the health and nutritional values of reduced-fat dairy products. The in-depth analysis of the market suggests that there are a number of issues while processing these products that act as a major limiting factor of the market.
There is a surging prevalence and availability of alternative products that are rich in nutrients, such as rice drinks and calcium-enriched soy are likely to curb the demand for reduced-fat dairy products through 2033. Additionally, it is estimated that a section of the population is suffering from allergy and lactose intolerance which is likely to act as a key restraint in the expansion of the industry through the foreseen years.
The urban population and the growing number of millennials are inclining towards the consumption of reduced-fat dairy products. An upsurge of awareness regarding reduced-fat dairy products as a good source of high-quality protein is driving the demand for the products in 2023. The raveled-up sales can be attributed the factors like fortification of reduced fat dairy retain the nutrients, along with the promotion of healthy bones and normal vision. This is also helping the populace in managing their weight and preventing the occurrence of heart diseases like stroke, coupled with reduced risk of high blood pressure. Therefore, the reduced-fat dairy product is estimated to aid the growth of the market through the forecast period.
| Report Attribute | Details |
|---|---|
| Reduced Fat Dairy Market Value (2023) | USD 75.75 Billion |
| Reduced Fat Dairy Market Anticipated Value (2033) | USD 119.91 Billion |
| Reduced Fat Dairy Projected Growth Rate (2023 to 2033) | 4.7% |
Principal Consultant
It is identified that the reduced fat dairy market is witnessing an unprecedented surge in the recent few years. There has been an approximate rise of USD 3.4 Billion from the base year to the current. This growth in market valuation can be highly attributed to the health benefits offered and the unique taste of the products, which are increasingly preferred by the urban population.
It is identified that there is a rising popularity of reduced-fat dairy beverages. Consumers are spending a considerable sum of their disposable income on low-fat drinkable yogurt owing to its flavorsome taste and functional properties. The growing popularity of low-fat kefir due to the health benefits offered by probiotics, fermented beverages, and the unique taste of kefir is making a significant contribution to the market size expansion of reduced-fat dairy products.
| Historical CAGR (2018 to 2022) | 4% |
|---|---|
| Forecast CAGR (2023 to 2033) | 4.7% |
| Market Value in 2022 | USD 72.35 Billion |
| Market Value in 2023 | USD 75.75 Million |
Promotion of Physical Health Leverage the Propulsion of Dominating Segments
It is identified that the cereals segment by product type category is estimated to hold significant market shares through the forecast period. The segment is projected to account for a moderate-paced CAGR of 4.6% during the projection period. At present, the segment is standing at a market valuation of USD 10.30 Billion and is estimated to surpass a market value of USD 16.15 Billion by the end of 2033.
As it contains a substantial amount of protein, vitamins, and folate, this category is becoming more popular among consumers. The market demand for cereals is on the rise as consumers are gaining awareness about the presence of antioxidants and phytochemicals that are estimated to help in lowering blood cholesterol levels for the populace suffering from diseases.
| Attributes | Details |
|---|---|
| Cereals Segment Market Value in 2023 | USD 10.30 Billion |
| Cereals Segment Market Value in 2033 | USD 16.15 Billion |
| CAGR in 2022 | 4.2% |
| Estimated CAGR From 2023 to 2033 | 4.6% |
It is estimated that the hypermarket ad supermarkets segment is likely to exert dominance over the forecast period. This segment has held considerable market shares during the base year and is projected to advance forward at an average pace, recording a CAGR of 6.2% through 2033.
This segment is anticipated to gain rapid momentum through the forecast period, owing to the availability of a wide range of reduced-fat dairy products. They are providing the customers with an extensive range of choices for choosing the product wisely, leveraging the sale of reduced-fat dairy food.
In addition to that, they have home delivery facilities and discount offers that attract consumer attention, aiding the growth of the hypermarkets and supermarket segment. Moreover, the establishment of a rising number of well-established departmental stores worldwide is estimated to bolster the sale of reduced-fat dairy products through 2033.
| Attributes | Details |
|---|---|
| Hypermarket and Supermarket Segment CAGR from 2018 to 2022 | 4.5% |
| Estimated Hypermarket and Supermarket Segment CAGR from 2023 to 2033 | 6.2% |
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| Region | North America |
|---|---|
| Country | United States of America |
| CAGR (2023 to 2033) | 9% |
| Region | North America |
|---|---|
| Country | Canada |
| CAGR (2023 to 2033) | 2% |
| Region | Europe |
|---|---|
| Country | Germany |
| CAGR (2023 to 2033) | 2.80% |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR (2023 to 2033) | 6.70% |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR (2023 to 2033) | 2.20% |
| Country/Region | United States of America |
|---|---|
| Statistics | The USA reduced fat dairy market is projected to trail at a CAGR of 9% through the forecast period. At present, the market is representing a valuation of USD 23.44 Billion in 2023. By the end of 2033, the industry is projected to surpass a valuation of USD 55.49 Billion. |
| Growth Propellants | It is estimated that the rise in health consciousness amongst people and the increasing rate of obesity is propelling the sale of reduced-fat dairy products. The North American region is witnessing tremendous popularity of low-fat dairy beverages due to their high probiotic content. These factors are expected to expand the market size of the USA further through 2033. |
| Country/Region | Europe |
|---|---|
| Statistics | The reduced fat dairy market in Europe is expected to advance at a moderate pace, registering a CAGR of 6% through the forecast period. Germany has emerged as a leading country in Europe. Currently, the market represents a market value of USD 3.88 Billion in 2023. The industry is expected to reach a market valuation of USD 6.94 Billion by the end of the projection period. |
| Growth Propellants | The European market is projected to hold the second-largest share in the reduced-fat dairy market. The expansion of the industry can be attributed to the rising prevalence of colon cancer and hypertension in the population. This factor is making consumers retreat to reduced-fat dairy products. Additionally, the enhancement and introduction of new flavors of reduced-fat dairy products by key players in the region are also fostering the growth of the industry. |
| Country/Region | China |
|---|---|
| Statistics | China is forecast to register notable growth, recording a CAGR of 6.7% through the estimated study period. In the year 2023, the market value in China is estimated to be USD 12.36 Billion. The market valuation is likely to surpass a valuation of USD 25.23 Billion by the end of 2033. |
| Growth Propellants | It is witnessed that rapid urbanization across China, coupled with the rise in disposable income is bolstering the standard of living. This is making significant changes in the food preferences of consumers. Additionally, there is a substantial improvement in the per capita availability of organized dairy products and milk. This is estimated to raise the demand for functional dairy products, due to their low cholesterol and fat content. |
Start-ups Embark Upon New Product Launches and Innovation to Gain Market Prominence
The new entrants in the reduced fat dairy market are leveraging advancements in technology to launch new products and gain a competitive advantage. These firms are continually investing in research and development activities to keep themselves in tandem with the changing consumer preferences and end-use industry demands. Efforts are being made to strengthen their foothold in the market and aid the further progression of the reduced-fat dairy market.
Top 2 Start-ups to Watch For
Happy Milk - This start-up organization owns its farm on the outskirts of Bengaluru with approximately 400 cattle. This start-up caters to individual clients and is focused on launching its new products that include salted and unsalted butter with reduced fat content. Customers are allowed to make subscriptions via applications like Doodhwala, DailyNinja, and more for availing their unique product range.
Klimom - This new entrant in the industry is delivering fresh low-fat milk products directly from the farm to the client’s doorstep. All their products are created from Gir cow’s milk and are of the finest quality. The company exclaims to grow the fodder In the firms and they are making attempts to strengthen their foothold in the market.
Biggies Launch Different Variants of Reduced Fat Dairy Products to Leverage Sales
The manufacturers in the reduced fat market are leveraging advancements in technology to launch new products and gain a competitive advantage. These firms are continually investing in research and development activities to keep themselves in tandem with the changing consumer preferences and end-use industry demands. Efforts are being made to comply with the safety regulations in the market and aid the further progression of the active packaging market. Thus, the market is likely to witness significant growth through 2033.
Recently, a company named Tillamook launched a new reduced-fat dairy yogurt to their existing line of products. A USA company in Oregon launched 6 different flavors, preservatives, and sweeteners of reduced-fat yogurt.
Another company named Bayers launched new flavors of reduced fat ice-creams, cookies & cream, and chocolates. Their packaging highlights the low-sugar and high-protein content of the products.
Recent Developments
The growth outlook for the reduced fat dairy market is predicted to advance at a CAGR of 4.7% from 2023 to 2033.
The North American region is anticipated to lead the reduced fat dairy market during the forecast period.
The market valuation of the reduced fat dairy market stands at USD 75.75 Billion in 2023.
The reduced fat dairy market is likely to hold a valuation of USD 119.91 Billion by 2033.
The food and beverages industry sector is the key driver in the reduced fat dairy market.
1. Executive Summary | Reduced Fat Dairy Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 5.1. Conventional 5.2. Organic 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Food 6.2. Beverages 6.3. Nutraceuticals 6.4. Animal Feed 6.5. Infant Formulations 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging Type 7.1. Bottles 7.2. Jars 7.3. Metallic Containers 7.4. Stand-Up Pouches 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 8.1. Super Market 8.2. Hyper Market 8.3. Groceries 8.4. Specialty Store 8.5. Other Retailing Formats 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. Middle East and Africa (MEA) 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Amul 17.2. Arla Foods Amba 17.3. Dairy Farmers of America 17.4. Danone 17.5. Fonterra Co-Operative Group Limited 17.6. Megmilk Snow Brand Co. Ltd 17.7. Nestle 17.8. Kerry Group Plc 17.9. Finlandia Cheese, Inc. 17.10. Saputo Inc. 17.11. Aurora Organic Dairy 17.12. Organic Valley 17.13. Horizon Organic 18. Assumptions & Acronyms Used 19. Research Methodology
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Reduced Fat Dairy Market
