The dry, condensed, and evaporated foodstuff manufacturing market consists of sales of dry, condensed, and evaporated dairy products by entities (organizations, sole traders and partnerships) that produce dry, condensed and evaporated milk and dairy substitute products. The dairy companies operating in the industry package distribute their products over various distribution channels to both individual customers and commercial establishments. The global dairy products industry is beginning to gain more strength as the innovations in technology for providing better quality products, service, measurement and reach of the dairy products and statistically improvised results have made dairy products industry to be one among the most important contributor to the worldwide economy. Of all the products, milk represents quite 35% of overall dairy products consumption within the market. Milk is used by almost all the global population, and used for several purposes, so the milk leads the dairy products market. Milk is the central component of the average diet of majority. Higher demand from emerging economies across the globe and higher feed prices at dairy farms have driven milk prices to shoot up and at the same time, the economic slump has led to lowering of demand over the higher margin for the dairy products.
According to the study “Dry, Condensed, And Evaporated Dairy Product Manufacturing Report 2019” Some of key manufacturers are Nestlé S.A, The J.M. Smucker Company, GCMMF PVT LTD, Magnolia Inc., Goya Foods Inc ,Danone, Amul, Nandini, Dean Foods, Fonterra and Unilever.
Dairy products industry comprises of companies which operate by selling primarily milk, cheese and butter products. Operators in the dairy product industry mainly manufacture dairy products such as pasteurized milk, cream, yogurt, and dry, condensed and evaporated milk. The dairy products industry also manufactures substitute dairy products made up of soybeans and other nondairy ingredients. Dairy products industry has been volatile, particularly due to the fluctuations in raw milk prices and economic recession. But dairy products industry is one of the most dynamic markets worldwide and it is growing rapidly in almost all demographics with thriving success.
Asia Pacific is one of key and leading region for the dairy products manufacturing market followed by Western Europe being the second largest region for dry, condensed, and evaporated dairy product manufacturing market. However, the African region is the smallest region in terms of volume and value for global dry, condensed, and evaporated dairy product manufacturing market.
The demand for clean label products is increasing rapidly due to significant rise in awareness of healthy eating. Clean label dairy products don’t contain additives, artificial flavor enhancers, dyes or artificial preservatives. Also, many food service and retail grocery chains are stating lists of ingredients that can’t be present in food items in their stores or restaurants. Based on an analysis customers within the UK and Russia nearly 70% of consumers purchasing dairy and bakery products are conscious of clean labels and therefore the presence of unpolluted labels influences their buying decisions and 30% of consumers are trying to find some quite clean label claim.
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Ankur Gupta, Head Marketing & Communications