Hyderabad, India -- (SBWIRE) -- 03/07/2018 -- The global dairy product market is predicted to witness significant growth over the forecast period. Growing world population base, rise in per capita financial gain, increase in consumer awareness level relating to nutritionary values of dairy farm products and, modification in shopper dietary patterns are the key drivers propelling the market growth. Additionally, technological advancements and innovations related to enhancement in milk product are also predicted to boost the market growth.
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The global Dairy Products Market is calculated to grow at a CAGR of 5.3% from 2016 to 2021. The rising variety of convenience stores, supermarkets, department shops, and hypermarkets across the globe has conjointly been promoting the expansion of the market.
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The absence of strict regulative frameworks and increasing volume of funds from private and public sectors are stimulating the expansion of the world marketplace for dairy products. The flourishing agriculture and animal husbandry business in many regions of the globe has been accountable for the growing production of milk products.
Several players are levelling up their presence within the market via product innovations. New players are also initiating product offerings. Demand for milk and milk products like cheese and butter is increasing largely due to a surge in world population. High-end technology is needed to fulfil these needs by increasing the milk processing capability and maintaining the standard of the products. The dairy business is extremely localized because of the perishable nature of milk products.
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Asia Pacific is calculated to lead the global Dairy Products Market due to the increasing production and export of dairy products from India. Latin America is predicted to grow at a steady rate in the near future.
The leading players in the current global market are Arla Foods UK Plc., Megmilk Snow Brand Co. Ltd., Danone, Dairy Farmers of America Inc., Kraft Foods, Inc., Nestle SA, Amul and Fonterra Group Cooperative Limited.
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