Rapid Urbanization And Rising Per Capita Consumption To Boost Sales Of Dairy And Soy Food Products
MarketResearchReports.biz has announced the addition of a new report, titled “Global Dairy & Soy Food Report: Analysis of opportunities offered by high growth economies,” to its database. The report mentions various factors affecting the growth of the global dairy and soy food market along with their projected impact on the market. The authors of the report have described the competitive landscape of the market by using various analysis tools such as Porter’s five force analysis and market attractiveness analysis. The portfolio, revenue structure, and key offerings of the key players in the global dairy and soy food market have also been presented in the report.
The growth of the dairy and soy food market is mainly influenced by the economic development of the region. For instance, in developed countries, the growing consumption of soy products as a protein-rich dietary supplement is propelling the growth of the global dairy and soy food market. On the other hand, developing regions are expected to boost the growth of the dairy and soy food market owing to the increased dairy activities. The global dairy and soy food market stood at US$617.9 bn in 2015 and is estimated to expand at a CAGR of 4.6% from 2015 to 2020.
Regionally, the global dairy and soy food market is segmented into North America, Western Europe, Eastern Europe, Asia Pacific, and MEA. Western Europe was the leading market in 2015, while Asia Pacific is the fastest growing region. For a comprehensive understanding, the market scenario in each region is explained through detailed analysis of trends in key contributing countries. India and China are the leading revenue generators in the regional market of APAC. The rising demand for organic or natural dairy and soy food with cleaner labels is propelling the regional market. In Eastern Europe, Russia is the center of the regional dairy and soy food market and is expected to progress at a CAGR of 8.7% between 2015 and 2020.
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In North America, the increasing demand for on-the-go snacks in the US has made the country the leading market in terms of revenue. In Western Europe, France and Germany collectively form the largest market by value. Globally, India, China, and the US are the top three markets in the global dairy and soy food market. However, Russia, India, and China are also expected to exhibit a noteworthy growth rate in the coming years.
The report includes a comprehensive study of the drivers, restraints, and trends of the global dairy and soy food market. The growth of the market can be attributed to rapid urbanization, which has led to a positive shift among consumers towards premium dairy and soy products such as soy milk, cheese, and soy-based and dairy-based desserts. The rapidly growing population, coupled with the rising per capita consumption, drives the global dairy and soy food market.
On the flip side, the widening gap between supply and demand will adversely affect the growth of the global dairy and soy food market. The rising feed prices are also a major impediment in meeting the demand. Another factor acting as a restraint in the growth of the global dairy and soy food market is the political and economic volatility across several regions. However, the growing health-consciousness amongst consumers will open new avenues for vendors in the global dairy and soy food market.
The competitive landscape of the global dairy and soy food market is also presented in the report. The global dairy and soy food market is highly fragmented, with the top five companies accounting for less than 6% of the overall market. The dominance of top brands is affected to a considerable degree by public sector interventions. For instance, in India, the market is highly influenced by several state-owned manufacturers. However, in Western Europe and North America, private label brands have a strong presence. In North America, Cheese Kraft is one of the key brands of cheese. Kraft also represented a share of 43% in the Hong Kong market and 25% in the Singapore market in 2014.
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