Organic Dairy Food and Drinks Market Trends, Price, Demand and Forecasts To 2022
Organic Dairy Food and Drinks Market Report, forecasts that the global market was valued at $14,517 million in 2015, and is expected to reach $36,729 million by 2022, registering a CAGR of 14.25% from 2016 to 2022. In 2015, the organic milk segment dominated the organic dairy food and drinks market, contributing more than half of the total share by volume.
Organic milk refers the milk products obtained from livestock raised through organic farming methods. Organic dairy products are blended with natural antioxidants, which increase their popularity among the masses. The organic dairy food and drinks market is driven by factors such asrise in health concerns among individuals, technological advancements, and government initiatives to promote organic farming. In addition, organic products are preferred to chemically blended nonorganic products due to their superior nutritional values, taste, and freshness. However, the production process of organic dairy products results in the emission of methane gas (a greenhouse gas), which hampers the market growth. Several companies have launched new variants, such as flavored milk; organic spoonable yogurt with granola; yogurt; sour creams; buttermilk; cottage cheese; and fruit toppings, to increase their customer base. The government of various countries have promoted organic farming by providing low-interest rates, loan facilities, and financial incentives to farmers.
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The organic milk segment dominated the global market in 2015, accounting for more than half of the total share by volume, and is projected to grow at CAGR of 14.1% during the forecast period due to factors such as increase in health awareness and numerous nutritional benefits associated with the use of these products.
ORGANIC DAIRY FOOD AND DRINKS MARKET KEY BENEFITS:
The Asia-Pacific organic milk market is projected to grow at a CAGR of 14.82% during the forecast period.
The organic yogurt segment is expected to grow at a CAGR of 14.72% during the forecast period.
The North American organic dairy food and drinks market is projected to grow at a CAGR of 14.26% from 2016 to 2022.
The Indian organic dairy food and drinks is expected to grow at a CAGR of 16.19% during the forecast period.
The organic dairy food and drinks markets in the Asia-Pacific and Europe regions jointly contributed more than two-fifths share of the global market due to increase in disposable income and rise in health awareness among individuals.
The key players profiled in the report include the Kroger Company, Safeway, Inc., Ben & Jerrys Homemade Holdings, Inc., Organic Valley, BJ’s Wholesale Club, Purity Foods, Inc., Eden Foods Inc., Whole Foods Market Inc., and Publix Super Markets, Inc.
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Global dairy food and drinks market is expected to grow at a CAGR of 14.25% from 2016 to reach $36,729 million by 2022 from $14,517 million in 2015. Organic dairy food and drinks are manufactured by using organic milk as a raw material collected from livestock with the help of organic farming methods. It mainly includes perishable products such as milk, yogurt, cheese, butter, and ice-cream, which are used on the daily basis by the consumers. The unique nutrient package and benefits provided by the dairy food and drinks make them an important part of consumers life. Continuous introduction of innovative organic dairy products drives the market such as energy-based milk drinks and flavored organic milk drinks.
The demand for organic dairy food and drinks is steadily increasing day by day. Growth in health awareness among consumers is one of the key driving factors for this market. In addition, food safety, environmental protection, animal welfare, and increase in use of natural and organic products are other major factors contributing to the market growth. Moreover, increase in purchasing power of consumers, improvement in the standard of living, and initiatives taken by the government associations such as low interest rate, loan facilities also drive the market growth in developing countries. However, high price of the organic dairy products, private labels faking organic dairy products labels, lack of promotion, and increase in R&D cost hampers the market growth.
Furthermore, hormones such as bovine growth hormone (BGH) and recombinant bovine somatotropin (rbST) are used to increase milk production in cows to produce nonorganic milk. However, excessive use of these hormones leads to the growth of IGF-1 (insulin-like growth factor) which results into the occurrence of the breast cancer. This is because the consumers are attracting toward the organic dairy products. Rise in demand for organic milk and availability of large variety of organic dairy products along with the development of new and innovative products in this segment provides huge opportunities to the market.
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