Market Research Report
North America Dairy Based Beverages Market - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||389632|
|Published||Content info||100 Pages
Delivery time: 1-2 business days
|North America Dairy Based Beverages Market - Growth, Trends, and Forecast (2018 - 2023)|
|Published: May 5, 2018||Content info: 100 Pages||
The North American market of dairy based beverages is growing at a fast rate as people are paying more attention to their health. The US and Canada are the major consumers in the region. The demand of new flavored and nutrition rich dairy product gaining popularity, as the consumers are shifting to the vegan diet to fulfill their nutrition needs. The market of flavored milk is the major focus for increasing the growth in this sector.
Growing consumer interest in the health benefits of dairy consumption in North America is driving market growth. These products include reduced cholesterol and saturated fat or added nutritive components, such as calcium magnesium, antioxidants, Omega 3, fiber, protein, phytosterol etc. Health benefits of probiotic drinks especially improvement of digestion and immune system is attracting consumers of all age groups. Another factor driving the growth of the market is rising medical cost, which is forcing the population to go for preventive measures and maintain good health. The availability of dairy alternatives is restraining the dairy based beverage market growth. Key competitors to milk and dairy products now are milk alternatives, such as coconut milk, almond milk, flax milk, and other juices that provide the same health benefits.
North America dairy beverage market is segmented by type, packaging, and by sales channels. By type the dairy beverage market is segmented into standard white milk, flavored milk, drinking yoghurt, functional milk, and others. Standard white milk holds the highest share in the global dairy beverage market. However, due to rising competition of standard white milk with plant-dairy alternatives, food manufacturers are focusing more on the functional and probiotic drinks, which would offer additional health benefits compared to standard milk. Omega-3, fibers, bioactive compounds, and phytosterol are some of the functional components added to dairy beverage. By packaging type, the dairy based beverage market has been categorized into can, while by sales channel, the dairy- market has been segmented into convenience stores, supermarkets/hypermarkets, mass merchandisers, drug stores, food services/sports nutrition chain vending and others.
The US holds a major market share in the dairy beverage market while Mexico and Canada are fastest growing market due to growing health concern issues, increase in disposable income level, rising population are the key issues, which lead to boost the market.
January 2018 - Arla Foods announced a plan to invest of EUR 527 million in 2018 as the company continues to deliver on its 2020 growth ambition. This investment plan is a growth plan aimed at expanding its positions in key dairy categories and geographic markets.
March 2018 - Nestle Canada shared expansion plans for USD 51.5 million investments to increase production capabilities at its London, Ontario, ice cream plant. The expansion investment is expected to help the company continue to innovate and bring new products to the market.
Major players - ARLA FOODS, BASF, BLUE DIAMOND GROWERS INC., EARTHS OWN FOOD COMPANY INC., EDEN FOODS INC., KRAFTS FOODS GROUP INC., LIVING HARVEST FOODS INC., NESTLE, SOUTH EAST BOTTLING & BEVERAGE, SUNSWEET GROWERS, THE FUNCTIONAL BEVERAGE CO., U.S.BEVERAGE MANUFACTURING, among others.
Reasons to Purchase this Report
Analyzing outlook of the market with the recent trends and Porters five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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