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Asia-Pacific Dairy Market - Segmented by Product Type, Distribution Channel and Geography - Growth, Trends, and Forecast (2022 - 2030)
SKU ID : INH-13104747 | Publishing Date : 07-Jun-2018 | No. of pages : 115
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The Asia-Pacific Dairy Market is expected to reach USD 210 billion by 2023, witnessing a CAGR during the forecast period. The Asia-Pacific dairy sale has surpassed 79,038 million Kg in 2017, with milk accounting for the largest category.
China is the most significant market holding a major market share in 2017 driven by increased consumption of dairy products. India and Indonesia is the fastest growing market in the region driven by increased population. Rising demand for western dairy products as natural snacks, fermented dairy products, such as yogurt, sour milk, etc, and product & packaging innovation are driving the dairy market growth.
Fermented Dairy Products on Rise
Yogurt and sour milk drinks which offer potential health benefits owing to probiotic contents are attracting sales. Increased health & wellness trend among consumer is driving the fermented dairy demand. Sour milk drinks, drinkable yogurt, flavored and fermented milk recorded a healthy growth rate over the past five years. Drinkable yogurt is witnessing an impressive CAGR of 15.7% during the forecasted period driven by increased consumer interest in probiotic drinks. Innovation in probiotic beverages by incorporating various flavors in convenient pack size is another major factor accelerating the sales. Increased consumer awareness regarding additives in packaged products are driving fresh milk sales in China, while flavored milk is becoming more popular in South Korea.
Supermarkets/Hypermarkets Driving Chilled Dairy Products
Lack of cold storage in supply chain affected the growth of convenience and independent small grocery retailers. However, supermarkets leading the sale of overall dairy products followed by convenience stores. Specialist retailers also account for a significant share in the market driven by the wide varieties available and convenient. Specialist retailer’s accounts for a significant share in the distribution channel which recorded a healthy growth rate of 5.6% during 2012-2017.
Key Developments
• June 2017- Dutch Mill Co., Ltd launched Thailand’s first Greek style drinkable yogurt in 160 g pack. The product is available in vanilla, kiwi apple and cherry berry flavors
The Asia-Pacific Dairy Market is highly fragmented with large number of domestic and multinational player competing for market share. Regional companies dominate the market, with Chinese accounting for leading position followed by Indian and Japanese players. Companies focusing on new product launch and partnership with distribution channels as their key marketing strategy.
Major players include - YILI GROUP, YAKULT HONSHA, GROUPE DANONE, NESTLE SA, ROYAL FRIESLANDCAMPINA N.V., MEIJI HOLDINGS CO., LTD. among others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Market value (USD Million) and volume (Kg Million) data for each segment and sub segment
• Distribution Channel sales Analysis by Value
• Competitive landscape involving the market share of major players, along with the new product launch and strategies adopted by players in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs
China is the most significant market holding a major market share in 2017 driven by increased consumption of dairy products. India and Indonesia is the fastest growing market in the region driven by increased population. Rising demand for western dairy products as natural snacks, fermented dairy products, such as yogurt, sour milk, etc, and product & packaging innovation are driving the dairy market growth.
Fermented Dairy Products on Rise
Yogurt and sour milk drinks which offer potential health benefits owing to probiotic contents are attracting sales. Increased health & wellness trend among consumer is driving the fermented dairy demand. Sour milk drinks, drinkable yogurt, flavored and fermented milk recorded a healthy growth rate over the past five years. Drinkable yogurt is witnessing an impressive CAGR of 15.7% during the forecasted period driven by increased consumer interest in probiotic drinks. Innovation in probiotic beverages by incorporating various flavors in convenient pack size is another major factor accelerating the sales. Increased consumer awareness regarding additives in packaged products are driving fresh milk sales in China, while flavored milk is becoming more popular in South Korea.
Supermarkets/Hypermarkets Driving Chilled Dairy Products
Lack of cold storage in supply chain affected the growth of convenience and independent small grocery retailers. However, supermarkets leading the sale of overall dairy products followed by convenience stores. Specialist retailers also account for a significant share in the market driven by the wide varieties available and convenient. Specialist retailer’s accounts for a significant share in the distribution channel which recorded a healthy growth rate of 5.6% during 2012-2017.
Key Developments
• June 2017- Dutch Mill Co., Ltd launched Thailand’s first Greek style drinkable yogurt in 160 g pack. The product is available in vanilla, kiwi apple and cherry berry flavors
The Asia-Pacific Dairy Market is highly fragmented with large number of domestic and multinational player competing for market share. Regional companies dominate the market, with Chinese accounting for leading position followed by Indian and Japanese players. Companies focusing on new product launch and partnership with distribution channels as their key marketing strategy.
Major players include - YILI GROUP, YAKULT HONSHA, GROUPE DANONE, NESTLE SA, ROYAL FRIESLANDCAMPINA N.V., MEIJI HOLDINGS CO., LTD. among others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Market value (USD Million) and volume (Kg Million) data for each segment and sub segment
• Distribution Channel sales Analysis by Value
• Competitive landscape involving the market share of major players, along with the new product launch and strategies adopted by players in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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