The world milk flavoring market will reach 6.38 billion US dollars by 2030
Source: dairynews.today
The global dairy flavors market is projected to grow significantly, driven by rising disposable income, lifestyle changes, and health trends, with a value expected to reach $6.38 billion by 2030.
The global dairy flavors market, which was valued at $4.60 billion in 2024, is forecasted to reach $6.38 billion by 2030, driven by a compound annual growth rate (CAGR) of 5.64% from 2025 to 2030.
Dairy flavors have gained popularity worldwide for their health benefits, enhanced by increasing disposable incomes and lifestyles enriched with premium food products. The market is propelled by trends like the use of artificial intelligence in flavor development, arrival of plant-based and clean-label flavors, and a shift towards health consciousness.
Asia Pacific leads the market in 2024, driven by economic development and health-aware consumer preferences, with China being the biggest contributor. Likewise, India shows rapid growth due to high demand for traditional flavors and exotic tastes.
North America's market, led by the US, grows with technological innovation and strengthened by the local production of over 300 cheese varieties, alongside a growing cheese consumption reflected in the USDA statistics which show a rise from 655 to 667 pounds per capita from 2020 to 2021. The competitive landscape is marked by strategic investments and product innovations, such as Butter Buds Inc.’s launch of 'Butter Buds Non-Dairy 32X'.
Key growth drivers include rising consumer awareness, urbanization, and e-commerce growth. However, challenges like raw material fluctuations pose threats. The industry sees increasing segmentation, with natural dairy flavors gaining the majority market share in 2024, reflecting consumer preference for authentic tastes. Furthermore, the bakery and confectionery application segment dominated in 2024 due to the wide-ranging use of dairy flavors in indulgent treats.
Players such as Kerry Group and International Flavors & Fragrances, Inc., among others, are instrumental in shaping market dynamics and leveraging emerging trends.
Dairy flavors have gained popularity worldwide for their health benefits, enhanced by increasing disposable incomes and lifestyles enriched with premium food products. The market is propelled by trends like the use of artificial intelligence in flavor development, arrival of plant-based and clean-label flavors, and a shift towards health consciousness.
Asia Pacific leads the market in 2024, driven by economic development and health-aware consumer preferences, with China being the biggest contributor. Likewise, India shows rapid growth due to high demand for traditional flavors and exotic tastes.
North America's market, led by the US, grows with technological innovation and strengthened by the local production of over 300 cheese varieties, alongside a growing cheese consumption reflected in the USDA statistics which show a rise from 655 to 667 pounds per capita from 2020 to 2021. The competitive landscape is marked by strategic investments and product innovations, such as Butter Buds Inc.’s launch of 'Butter Buds Non-Dairy 32X'.
Key growth drivers include rising consumer awareness, urbanization, and e-commerce growth. However, challenges like raw material fluctuations pose threats. The industry sees increasing segmentation, with natural dairy flavors gaining the majority market share in 2024, reflecting consumer preference for authentic tastes. Furthermore, the bakery and confectionery application segment dominated in 2024 due to the wide-ranging use of dairy flavors in indulgent treats.
Players such as Kerry Group and International Flavors & Fragrances, Inc., among others, are instrumental in shaping market dynamics and leveraging emerging trends.
