Bright outlook for some dairy categories
2018/8/30 15:20:23
The global outlook for a number of dairy categories over the next few years is very bright.
4.6%
That’s the predicted compound annual growth rate (CAGR) for yogurt globally from 2017 to 2023. Driving growth are yogurt’s associated potential health benefits, including weight loss. Additional drivers are growth in the retail market and some yogurt varieties’ low lactose content.
11.1%
That’s the CAGR growth rate forecast for the global lactose-free food market between 2017 and 2021. Fueling growth here are rising levels of lactose intolerance among population segments.
$86.9 billion
That’s the value the global dairy ingredients market — including whey ingredients, milk protein powders and more — is expected to reach in 2024. Factors such as an aging population, more health issues and increased awareness about the benefits of food products rich in nutrition are expected to benefit the overall market.
$89.5 billion
That’s the value the global ice cream market is expected to reach by 2023, recording an anticipated CAGR of 4.9% from 2018 to 2023. A rise in income, along with increased demand for sweet dishes, is forecast to drive growth in this market.
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Source:dairyfoods.com
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