Global Dairy Drinks Market Size, Share, Growth Analysis, By Type(Drinking yogurt, milk), By Category (Flavoured milk and unflavoured milk), By Distribution channel(Super markets, convenience stores) - Industry Forecast 2024-2031

Global Dairy Drinks Market size was valued at USD 73.77 billion in 2022 and is poised to grow from USD 77.53 billion in 2023 to USD 115.43 billion by 2031, growing at a CAGR of 5.10% during the forecast period (2024-2031).

Dairy drinks, consumed worldwide for their essential nutrients and proteins, encompass a range of formulated functional beverages featuring various flavors, microbial cultures, and minerals to enhance taste and nutritional value. Manufacturers continually innovate, introducing new products with added nutrients like omega fatty acids, magnesium, antioxidants, and phytosterols. The burgeoning popularity of drinkable yogurts, prized for their delicious taste and digestive health benefits, has significantly driven sales in the dairy drinks market. Easily accessible in diverse varieties, drinkable yogurt's appeal is a major factor fueling market growth. However, lactose intolerance poses a significant challenge, potentially causing discomfort such as abdominal pain, diarrhea, and bloating.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Dairy Drinks Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Dairy Drinks Market Segmental Analysis

Global Dairy Drinks Market is segmented based on the type, category and distribution. Based on type, the market is segmented into drinking yogurt, milk, and kefir. Based on category, the Dairy Drinks Markett is segmented into flavoured milk and unflavoured milk. Based on distribution channel, the Dairy Drinks Markett is segmented into super markets, convenience stores, specialty stores, online channels. Based on Region Dairy Drinks Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Drivers of the Global Dairy Drinks Market

Producers have seen a substantial surge in consumer interest, thanks to the introduction of enticing new flavors in functional beverages. Furthermore, the consumption of dairy drinks and other functional beverages is on the rise due to their perceived immune-boosting benefits. With a growing emphasis on nutritionally dense and convenient options for maintaining health, consumers are increasingly turning to ready-to-drink offerings. The increasing popularity of drinkable yogurts, in particular, is bolstering sales in the dairy drinks market, as these products are seen as a daily, side-effect-free option for enhancing overall well-being.

Restraints in the Global Dairy Drinks Market

The National Institutes of Health (NIH) reports that lactose intolerance poses a significant health concern for a large portion of the US populace, potentially impeding market growth in various regions. This trend is exacerbated by the growing consumer shift towards non-dairy and plant-based beverages, further impacting market dynamics.

Market Trends of the Global Dairy Drinks Market

In recent years, the rising popularity of drinkable yogurt has been driven by its distinctive flavor and beneficial qualities, surpassing other dairy-based beverages. These nutritious drinks, packed with essential nutrients like vitamin A, vitamin D, calcium, potassium, and magnesium, play a vital role in addressing nutritional deficiencies and promoting overall health. Additionally, continuous innovation from key industry players, exemplified by the introduction of products like aloe vera-infused and ragi-infused yogurt drinks, has significantly bolstered the dairy beverages market.