Dairy Food Global Market Report 2024

The dairy food market size has grown strongly in recent years. It will grow from $810.37 billion in 2023 to $865.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The historical growth can be ascribed to the increase in the global population, higher disposable income, a rising number of health-conscious consumers, and a low-interest rate environment.

The dairy food market size is expected to see strong growth in the next few years. It will grow to $1110.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period can be linked to factors such as the impact of the COVID-19 pandemic, a growing population, increased penetration of organized retail, advancements in cold chains, heightened dietary consciousness, and a surge in product launches. Major trends expected in the forecast period encompass the adoption of Internet of Things (IoT) technology, enhanced collaboration between dairy food companies and e-commerce entities, a rising demand for clean label products, the integration of robotics and automation in the dairy industry, and an increase in partnerships and acquisitions for brand expansions.

The increasing desire for local, sustainable, and organic food production is anticipated to have a positive impact on the dairy food market in the forecast period. Organic food production, including organic dairy products, places significant emphasis on consumer health, environmental preservation, and animal welfare. Consumers are increasingly concerned about the methods used in food production and are willing to pay a premium for products perceived as healthy. In Europe, there is a high rate of import, particularly for organic fruits and vegetables, due to lower production rates compared to the consumer demand for organic produce. For example, in June 2022, the Organic Trade Association, representing over 9,500 organic businesses in the U.S., reported a 2% increase in organic sales, surpassing $63 billion between 2020 and 2021. This growing demand for organic products presents substantial opportunities for dairy producers in both developed and developing countries, driving market growth in the forecast period.

The increasing development of cold chains is expected to drive the growth of the dairy food market. Cold chains refer to a specialized supply chain system designed to control and manage temperature during the storage, transportation, and distribution of temperature-sensitive products, including perishable foods, pharmaceuticals, vaccines, and chemicals. Cold chains play a crucial role in preserving product freshness, expanding geographical reach, promoting product diversity, facilitating global trade, extending shelf life, ensuring food safety compliance, and enhancing consumer convenience. For example, according to Colliers, a Canada-based professional services and investment management company, India is projected to achieve a cold storage capacity of 40.7 million metric tons by 2023, marking an 8.2% increase since 2020. Therefore, the increasing development of cold chains is a key driver for the growth of the dairy food market in the foreseeable future.

The adoption of Internet of Things (IoT) technology is on the rise for tracking dairy products and ensuring secure product handling. IoT comprises a network of interconnected devices, vehicles, or other items that continuously exchange data, providing insights into various processes or systems. This technology is utilized to monitor the ingredients used in dairy products. Internet-connected equipment in trucks and storage coolers enables the tracking of dairy items, allowing for the tagging of environmental conditions such as temperature or location. This information is crucial for ensuring safe product handling during transportation. For example, the Chinese government has implemented the National Food Quality Safety Traceability Platform, utilizing IoT technology to enhance the quality and safety of food production supply chains.

Major companies in the dairy food market are focusing on developing clean-label products to establish a competitive advantage. Clean-label products refer to food and beverage items with transparent and minimal ingredient lists, devoid of artificial additives and preservatives, aligning with consumer preferences for simplicity and natural ingredients. As an illustration, in December 2021, PlantBaby, a Hawaii-based food and beverage company, introduced Kiki Milk, a clean-label, dairy-free milk designed to meet the nutritional needs of growing children. This certified organic milk is free from artificial ingredients and additives, providing a wholesome alternative for families seeking clean-label options. Kiki Milk is crafted with organic whole food ingredients, including oats, sprouted pumpkin seeds, hemp seeds, coconut, and Aquamin, offering essential nutrients such as omega fatty acids, plant-based calcium, and protein. Additionally, it is free from GMOs, glyphosate, heavy metals, seed oils, gums, refined sugars, natural and artificial flavors, soy, and gluten, making it suitable for kids, adults, and those with sensitive stomachs.

Major companies operating in the dairy food market report are Groupe Lactalis S.A., Danone S.A., Fonterra Co-operative Group Limited, Inner Mongolia Yili Industrial Group Co., Ltd., Nestle S.A., Saputo Inc., Arla Foods amba, Dairy Farmers of America, The Kraft Heinz Company, Amul, Pacific Dairy, China Mengniu Dairy Company Limited, Milk Powder Co.Ltd., China Shengmu Organic Milk Limited, Mother Dairy, Kwality Limited, Dynamix Dairy, AAVIN, MILMA, Dudhsagar Dairy, Bates Dairy, Müller UK & Ireland, Dairy Crest, Meadow Foods, Dale Farm, Yeo Valley, Glanbia Cheese, Lactalis International, Kompaniya Pavlov, Olam, Rusmolco, CLAL, Siemens Dairy industry, Gabrovo Milk Ltd., JOSSI Ltd., Kondov Ecoproductia, Sofia, Agropur Cooperative, Schreiber Foods, Kraft Heinz Co., ConAgra Brands, Prairie Farms Dairy Inc., California Dairies Inc., Italac, Piracanjuba, La Serenísima, Colun, Ilolay, Sunopta In, The Hain Celestial Group Inc., Earth’s Own Food Company, Eden Foods, Inc., Nada Dairy, Nadec, Saudia Dairy and Foodstuff Company, Ornua, Danya Foods Ltd., Al Amoudi Group, Almarai, Freisland, Pinar Dairy Food Co, Tara Dairy, Bandini Cheese (Pty) Ltd., Clover SA (Pty) Ltd., Coega Dairy (Pty) Ltd., Douglasdale Dairy (Pty) Ltd., Dewfresh (Pty) Ltd.

Asia-Pacific was the largest region in the dairy food market in 2023. Western Europe was the second-largest region in the dairy food market. The regions covered in the dairy food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the dairy food market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The dairy food market consists of sales of buttermilk, cheese, cream, soy milk, whipping cream, butter, and other dairy food. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary categories of dairy foods include milk and butter, cheese, dry, condensed, and evaporated dairy products, as well as ice cream and frozen desserts. Milk and butter, in their solidified form, play a crucial role in cheese production. Dairy products are sourced from animals such as cattle, sheep, goats, and camels, and are made available to consumers through diverse distribution channels, including supermarkets and hypermarkets, convenience stores, e-commerce platforms, and other retail outlets.

The dairy food research report is one of a series of new reports that provides dairy food statistics, including dairy food industry global market size, regional shares, competitors with dairy food share, detailed dairy food segments, market trends and opportunities, and any further data you may need to thrive in the dairy food industry. This dairy food research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.