Organic Dairy Market Estimated to Exceed US$ 28.7 Billion Globally By 2024: IMARC Group

May 31 22:34 2019
Organic Dairy Market Estimated to Exceed US$ 28.7 Billion Globally By 2024: IMARC Group

Global Organic Dairy Market to Reach US$ 28.7 Billion by 2024, Stimulated by Improving Distribution Channels Worldwide – IMARC Group
The global organic dairy market has witnessed moderate growth in recent years on account of rapid urbanization, sedentary lifestyles, the growing prevalence of chronic diseases and constant government support in numerous countries to adopt organic farming methods.

According to the latest report by IMARC Group, titled “Organic Dairy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global organic dairy market size reached US$ 19.4 Billion in 2018. Organic dairy products are obtained from livestock that is raised using organic farming methods. These products are considered relatively healthier as they are rich in vitamins, anti-oxidants, omega-3 fatty acids and conjugated linoleic acid (CLA) when compared with conventional dairy items. Moreover, they offer various health benefits such as boosting metabolism, strengthening immunity, minimizing muscle and joint pain, and reducing the risk of developing cancer and heart diseases. Currently, different types of organic dairy products are available in the market including milk, yogurt, flavored milk, cheese and ice cream, which cater to the varied tastes and preferences of a large consumer base.

Market Trends:

With rapid urbanization, sedentary lifestyles and the growing prevalence of chronic diseases, consumers are becoming relatively more aware of the negative impact of regular consumption of synthetic ingredients. As a result, there has been a rise in the demand for organic dairy products across the globe. Apart from this, the governments in several countries are launching educational campaigns and introducing numerous schemes to encourage organic farming by providing technical assistance to farmers for adopting organic farming methods. For instance, under the National Horticulture Mission, the Government of India is providing incentives for the cultivation of natural food products. Similarly, the EU has adopted new rules for organic production and labeling to guarantee fair competition for farmers as well as operators. Further, the distribution and supply chain infrastructure for organic dairy products is improving worldwide. Looking forward, the market is projected to reach a value of US$ 28.7 Billion by 2024, expanding at a CAGR of around 7% during 2019-2024.

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Market Summary:

Performance by Product Type

1. Organic Fluid Milk
2. Organic Yogurt
3. Organic Cheese
4. Organic Butter
5. Organic Cream
6. Others

Based on the product type, the market has been segregated into fluid milk, yogurt, cheese, butter, cream and others. Currently, organic fluid milk dominates the market, holding the largest share.

Performance by Packaging Type

1. Pouches
2. Tetra-packs
3. Bottles
4. Cans
5. Others

On the basis of the packaging type, Tetra-Pak represents the largest segment as it aids in preserving the overall nutritional value of the products for an extended period. Moreover, there has been a rise in environmental concerns among consumers owing to which they have shifted towards recyclable Tetra-Pak.

Performance by Distribution Channel

1. Supermarkets
2. Hypermarkets
3. Discount Stores
4. Convenience and Grocery Stores
5. Organic Specialty Stores
6. Online/E-Retailing
7. Direct Sales
8. Others

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The market has been classified on the basis of the distribution channel into supermarkets, hypermarkets, discount stores, convenience and grocery stores, organic specialty stores, online/e-retailing, direct sales and others. At present, supermarkets represent the leading distribution channel.

Performance of Key Regions

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East and Africa

Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Amongst these, Europe is the leading market, holding the majority of the global share due to the high demand for organic products in the region. A large part of Europe’s agricultural land is currently being managed for organic farming to balance the emerging demand with the current supply.

Competitive Landscape

The competitive landscape of the market has been analyzed along with detailed profiles of key players operating in the industry.

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