The fermented dairy products are one of the major sources of probiotic bacteria. It is prepared by inoculation of culture and other enzymes that convert lactose to the lactic acid. The fermentation of milk further involves the addition of lactic acid bacteria such as Lactobacillus over the dairy products that increases the shelf life and further enhancing the taste and improving the digestibility of milk. The Fermentation process is further facilitated by adding a number of bacteria such as Lactobacillus, Lactococcus, and Leuconostoc that breaks down milk proteins. Moreover the fermented milk further helps in reducing the blood pressure, cholesterol and thereby preventing the cancer growth. Moreover, it is further used in the cosmetic industry for the ailment against the canker sores, sunburns, skin ulcers, and many others.
The fermented milk consists of dairy products such as kefir, cheese, sour cream, yogurt, and many more. The fermented milk products further provides the benefits associated to the enhanced digestibility, new and unique flavor, added probiotics, vitamins, minerals and preservatives that and the extended product shelf life. Moreover, it is further gaining the popularity among the health conscious consumers owing to the health beneficial attributes.
According to study, “Fermented Milk Market by Type (Cheese, Yogurt, Butter, Sour Cream, and Others) and Distribution Channel (Specialty Stores, Supermarket & Hypermarket, and Online Stores): Global Opportunity Analysis and Industry Forecast 2019-2026”. Some of the key companies operating in the global fermented milk market are Danone, Britannia Industries Limited, ParmalatS.p.A., Nestle,Yakult, Yoplait , Arla Foods, Chobani LLC, Muller, and FrieslandCampina.
Based on type, fermented milk market is segmented into yogurt, sour cream, kefir, cheese, and others. Based on packaging type, market is segmented into cartons, pouches, tubs, and others. In addition, based on distribution channel, market is segmented into store-based and non-store-based. The store-based segment is further sub-segmented into convenience stores, hypermarkets & supermarkets, and others.
The fermented milk market is driven by rise in awareness among people for losing weight, followed by increase in health awareness of fermented milk market and rise in demand for dairy beverages. However, increase in awareness for vegan products and harmful additives & ingredients in yogurt may impact the market. Moreover, rise in trend for organic yogurt and increase in demand of fermented milk in the developing nations are key opportunities for market.
Based on geography, the North-American and European regions are known to be the dominant regions in the fermented milk market owing to rise in demand from consumers, surge in per-capita income and rise in health awareness in the regions. Whereas, the Asian-Pacific region is expected to witness higher growth rate due to surge in the number of millennials and rise in demand for various types of fermented milk products for instance butter and cheese consumed in fast food products over the forecast period. The fermented milk market size was valued at US $264.77 billion in 2018, and is anticipated to reach US $396.87 billion by 2026, growing at a CAGR of 5.1% from 2019-2026.
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Ankur Gupta, Head Marketing & Communications