DAIRY INGREDIENTS MARKET ANALYSIS

Regional Analysis

Global Dairy Ingredients Market Outlook:

• Europe region dominated the dairy ingredients market in 2017 and is expected to retain its market dominance over the forecast period. Bakery products find wide preference among the consumers in Europe. According to Coherent Market Insights, the per capita consumption of bakery products in Germany was recorded at 85.5 kilograms in 2017, followed by France with a per capita consumption of 71.5 kilograms and U.K, with a consumption of 47.3 kilograms in the same year. The consumption of bread accounted for a market share of over 75% in Europe followed by croissants, pastries, and savoury pastries. Furthermore, the chocolate consumption was also led by the European economies such as Switzerland, Germany, Russia, and U.K. among others. According to Coherent Market Insights, per capita consumption of chocolate in Switzerland was recorded at 8.8 kg in 2017, followed by Germany with a per capita chocolate consumption of 8.4 kg in the same year, followed by Russia and U.K.
• Asia Pacific region emerged as the fastest growing market for dairy ingredients on account of rising consumption of bakery and confectionery products, dairy products, and others. Furthermore, the high population of emerging economies such as India and China is another key factor driving the demand for dairy ingredients market. The confectionery market in India has a well-entrenched presence of international players such as Mondelez International, Nestle S.A., Mars Inc., and others. Furthermore, the country also has a wide presence of domestic players such as ITC Ltd, Amul, and Parle-Agro. Promotional activities, frequent product launches, and brand portfolio expansion are some of the key factors responsible for the growth of the confectionery market in India. According to Coherent Market Insights, the confectionery market in India is expected to reach US$ 2.56 billion by the end of 2021.