Health consciousness drives $3.9 billion growth in low-fat dairy beverage market by 2030
Source: The DairyNews
Research and Markets has added a new report, "Low-fat Dairy Beverages - Global Strategic Business Report 2024," to their offerings. This report details the expected growth trajectory of the global low-fat dairy beverage market, which is anticipated to grow from $20.5 billion in 2023 to $24.4 billion by 2030, with a CAGR of 2.5%.
The increasing consumer focus on health and wellness is a major growth driver. With the prevalence of lifestyle diseases on the rise, consumers are turning towards products that support weight management and overall health.
Technological Advancements
Innovations in dairy processing, such as ultra-filtration and high-pressure processing, have significantly enhanced product quality and shelf-life, making low-fat dairy beverages more appealing.
Demand for Functional Foods
There is a growing demand for functional foods that offer additional health benefits. This has led to the development of fortified low-fat dairy beverages enriched with probiotics, vitamins, and minerals.
Sustainable and Ethical Consumption
Consumers are increasingly favoring brands that adopt environmentally friendly practices and responsibly source their ingredients.
Expanded Retail Channels
The growth of e-commerce and other retail channels has made low-fat dairy beverages more accessible, further driving market expansion.
Low-Fat Milk segment is expected to see significant growth, reaching $15.4 billion by 2030 with a CAGR of 3.0%.
Regional Markets
- United States: Estimated at $5.6 billion in 2023.
- China: Forecasted to grow at a CAGR of 4.6%, reaching $4.7 billion by 2030.
- Other Regions: Key markets include Japan, Canada, Germany, and the Asia-Pacific region.
Technological Advancements
Innovations in dairy processing, such as ultra-filtration and high-pressure processing, have significantly enhanced product quality and shelf-life, making low-fat dairy beverages more appealing.
Demand for Functional Foods
There is a growing demand for functional foods that offer additional health benefits. This has led to the development of fortified low-fat dairy beverages enriched with probiotics, vitamins, and minerals.
Sustainable and Ethical Consumption
Consumers are increasingly favoring brands that adopt environmentally friendly practices and responsibly source their ingredients.
Expanded Retail Channels
The growth of e-commerce and other retail channels has made low-fat dairy beverages more accessible, further driving market expansion.
Low-Fat Milk segment is expected to see significant growth, reaching $15.4 billion by 2030 with a CAGR of 3.0%.
Regional Markets
- United States: Estimated at $5.6 billion in 2023.
- China: Forecasted to grow at a CAGR of 4.6%, reaching $4.7 billion by 2030.
- Other Regions: Key markets include Japan, Canada, Germany, and the Asia-Pacific region.
