Statista:Global consumption of dairy products and eggs is expected to grow
Source: The DairyNews
The average consumption of milk, dairy products and eggs per capita in the world in 2024 will reach 56.4 kg. This is stated in the forecast of the analytical company Statista.
Global revenue from the sale of milk and dairy products, as well as eggs, will exceed $1.17 trillion in 2024. It is expected that in the period up to 2028 the market will grow by 7.32% annually and by 2028 the volume of the global market for milk, dairy products and eggs will reach 494.4 billion kg, analysts predict.
Most of the revenue will come from India – $ 173 billion. China, the United States, Germany and Russia are also named among the top five countries.
"The global market will show continuous growth over the next few years. Per capita consumption is expected to be much higher in low-income countries. For example, in India, Pakistan and some African countries, demand is projected to increase significantly in the coming years," the report says.
Analysts note that the growth in demand for these categories of goods will be facilitated by an increase in household incomes. The main driver of growth in the coming years will be an increase in the production of organic products, as well as an increase in demand for plant-based dairy products. "Given inflationary pressures, private label products are also becoming increasingly popular," the experts noted.
The offline segment will continue to prevail among sales channels, although the share of online sales will gradually increase, analysts say. Among this category of goods, the most significant price increase is predicted for cheese, while the cost of other dairy products will change slightly – within the limits of inflation.
Most of the revenue will come from India – $ 173 billion. China, the United States, Germany and Russia are also named among the top five countries.
"The global market will show continuous growth over the next few years. Per capita consumption is expected to be much higher in low-income countries. For example, in India, Pakistan and some African countries, demand is projected to increase significantly in the coming years," the report says.
Analysts note that the growth in demand for these categories of goods will be facilitated by an increase in household incomes. The main driver of growth in the coming years will be an increase in the production of organic products, as well as an increase in demand for plant-based dairy products. "Given inflationary pressures, private label products are also becoming increasingly popular," the experts noted.
The offline segment will continue to prevail among sales channels, although the share of online sales will gradually increase, analysts say. Among this category of goods, the most significant price increase is predicted for cheese, while the cost of other dairy products will change slightly – within the limits of inflation.
