The new report by Expert Market Research titled, ‘North America Dairy Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the North America dairy market, assessing the market based on its segments like product, and regional markets among others. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): 108.6 million tonnes
The United States of America is not only a prominent player in the regional dairy market, but also in the world market. Despite a drop in cow numbers, overall milk output in the United States increased by 1.1% in 2018, reaching 97,730 thousand tonnes, up from 97,730 thousand tonnes the previous year. Canada is another important market in the region, with milk production increasing by 5% in 2017 and 3.7% in 2018, owing to government initiatives such as the National Ingredient Strategy and skyrocketing production quotas under the managed production system. USDA’s Dairy Margin Protection Program incentivizes production despite falling revenues, resulting in an increasing milk surplus.
Excess milk is being converted into products such as milk powder and butter, which have a longer shelf life than liquid milk. While a new trade agreement with Canada grants the US 3.6% tariff-free access to Canada’s dairy market, it might be harmful to the country’s burgeoning dairy industry since it eliminates the Class 7 programme, which regulated the prices of some dairy goods such as skimmed milk powder. The dairy industry in Canada is one of the country’s most important agricultural industries, contributing considerably to the country’s GDP.
Industry Definition and Major Segments
Dairy and its products are an important element of a well-balanced daily diet. Vitamin A, vitamin D, calcium, protein, potassium, and other minerals can be found in dairy products. They’re high in calcium, with cheese being particularly high in protein. They’re being used in a variety of industries, including food and beverage, infant nutrition, and sports nutrition. The nutritional advantages of dairy products include the prevention of diseases such as hypertension, type 2 diabetes, heart disease, and musculoskeletal disease, to name a few.
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On the basis of product type, the North America dairy market is segmented into:
- Whey Protein (Powder and Concentrate)
The major regional markets of the North America dairy market are:
Growing consumer concerns about their health are driving demand for items like reduced sugar yoghurts and cottage cheese in the North American milk industry. Cottage cheese is gaining popularity since it comes in a larger range of flavours and has a greater protein value than yoghurt. It also caters to the needs of customers with increasingly hectic schedules who are looking for healthier on-the-go snacks. With the rise in cases of lactose intolerance, there has been an increase in demand for dairy products with lower lactose content, such as cheese. Organic milk is also a fast- rising industry, thanks to consumers’ growing health and environmental awareness, who see it as natural and sustainable. Growing dairy product developments are also driving the market in North America. The widespread availability of dairy products, as well as increasing distribution channels such as supermarkets and hypermarkets, are assisting market growth.
Key Market Players
The major players in the market are Nestlé S.A, Dean Foods Company, Danone S.A., Groupe Lactalis, Saputo Inc., The Kraft Heinz Company, Schreiber Foods Inc., Grupo Lala, S.A.B. de C.V., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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