Impact of Covid-19 Outbreak on Dairy Beverages Market 2020 Trends, Growth Opportunities, Demand, Application, Top Companies
Research Reports
Jan 11, 2021
Market Highlights
To overcome the challenges in such a competitive market, prominent players are focusing on product launches, partnerships, mergers & acquisitions, and expansions in terms of production capacity and geographic reach. This is expected to drive the demand for dairy beverages among consumers across the world.
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Key Developments
In June 2016, CavinKare Pvt. Ltd launched Cavin’s fruit milkshake, a ready-to-serve, dairy-based beverage. The fruit milkshake with honey comes in three variants—mango, apple, and guava.
In December 2018, ITC Limited expanded its dairy beverages portfolio; the company entered the ready-to-drink milk-based beverages market with the launch of Sunfeast Wonderz Milk.
Key Players
Some of the key players in the global dairy beverages market are Britannia Industries Limited (India), Mother Dairy Fruit & Vegetable Pvt Ltd (India), Arla Foods amba (Denmark), Lactalis Group (France), Parag Milk Foods Ltd (India), Borden, Inc. (US), ITC Limited (India), Organic Valley (US), Nestlé SA (Switzerland), Freedom Foods Group Limited (Australia), Grupo Leche Pascual SA (Spain), The Whitewave Foods Company (US), Dean Foods Company (US), The Kefir Company (New Zealand), and Gujarat Cooperative Milk Marketing Federation Ltd. (India).
Market Segment
The global dairy beverages market has been segmented by type, packaging type, distribution channel, and region.
Based on type, the global Dairy Beverages Market has been segmented into milk, buttermilk, kefir, and others. The milk segment has further been divided into flavored milk and plain milk. The milk segment is projected to be the largest during the forecast period. The demand for plain and flavored milk is driven by their immense popularity and growing interest of consumers in the health benefits of milk-based beverages. Milk is considered probiotic and plain milk is used in various hot and cold beverages; moreover, there is a variety of flavored milk from which consumers can choose. The kefir segment is expected to register the highest growth rate during the review period owing to the changing eating patterns of consumers worldwide.
By distribution channel, the global dairy beverages market has been segmented into store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, convenience stores, and others. The store-based segment is projected to account for the larger market share due to the widespread availability of milk-based beverages in supermarkets and hypermarkets. Moreover, there is a higher preference for store-based channels as they provide a one-stop shopping experience. However, the non-store-based segment is projected to register the higher CAGR due to the increasing adoption of e-commerce in food & beverage retail.
Regional Analysis
The global dairy beverages market has been segmented, on the basis of region, into North America, Europe, Asia-Pacific, and the rest of the world.
The market in Asia-Pacific is expected to be the fastest-growing due to the expanding food & beverage industry and changing consumer eating patterns in the region.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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