Increase in awareness regarding health concerns, rapid technological development of novel products, and surge in government initiative to encourage organic farming are expected to propel the growth of the global organic dairy food and drinks market
PORTLAND, Oregon, Aug. 1, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Organic Dairy Food and Drinks Market by Type (Organic Milk, Organic Yogurt, Organic Cheese, and Other Organic Dairy Food and Drinks): Global Opportunity Analysis and Industry Forecast, 2019-2026". According to the report, the global organic dairy food and drinks market accounted for $17.85 billion in 2018 and is expected to reach $38.77 billion by 2026, registering a CAGR of 10.2% from 2019 to 2026.
Rising awareness regarding health concerns, emergence of environment protection, rapid technological development of novel products, and surge in government initiative to encourage organic farming techniques have boosted the growth of the global organic dairy food and drinks market. However, high price of organic dairy products and shorter shelf life of organic dairy products hamper the market growth. On the contrary, emerging geographical regions are expected to create lucrative opportunities in the near future.
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Organic cheese segment to manifest the fastest growth by 2026
By product type, the organic cheese segment is expected to portray the fastest CAGR of 10.6% during the forecast period, owing to availability of quality natural cheese at affordable prices and with new flavors. Moreover, continuous addition of flavors with peppery, smoky, and gourmet varieties with nuts and dry fruits supplement the market. However, the organic milk segment dominated the market, accounting nearly half of the market, owing to rise in health awareness and increased focus on animal welfare and environment protection coupled with trend of using organic milk to reduce health risk. The report offers an analysis of the other segments such as organic yogurt and other organic dairy food and drinks.
North America holds lion's share
The market across North America held the largest share in 2018, accounting for more than two-fifths of the market, owing to increase in consumption of healthy and natural products due to rise in the prevalence of diseases and benefits of organic products over the regular dairy products. Moreover, the developed retail structures that allow consumers to conveniently purchase food items and beverages supplement the market growth. However, the market across the Europe region is projected to manifest the fastest CAGR of 10.5% during the forecast period, owing to rise in preference on buying natural products and strong retail channels.
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Major market players
The market report analyses the major market players such as BJ's Wholesale Club Inc, Danone (horizon organic), Chobani, LLC, Organic Valley Cropp Cooperative, General Mills, Inc., Safeway Inc., Royal FrieslandCampina N.V., Straus Family Creamery, Stonyfield Farm, Inc., and Unilever Group.
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