GLOBAL – The global dairy-based beverages market is set for significant growth, according to a market research report by Technavio.

The report forecasted that the market will expand by US$ 41.95 billion from 2023 to 2027, with a compound annual growth rate (CAGR) of 5.66% during the forecast period.

The Asia-Pacific (APAC) region currently dominates the global market and is expected to continue experiencing substantial growth, driven by factors such as urbanization, health consciousness, and increasing awareness of organic products.

In addition to the APAC region, Europe is also witnessing significant growth in the dairy-based beverages market. Factors such as urbanization, health consciousness, and awareness of organic products are contributing to this growth trajectory.

According to the report, the market comprises various product categories, including carbonated drinks, drinkable yoghurts, and functional beverages, all of which offer essential nutrients such as Vitamin D, Calcium, Potassium, Magnesium, Vitamin A, Proteins, Antioxidants, Omega fatty acids, and Phytosterols.

Innovative products catering to diverse consumer preferences, such as Sunfeast Wonderz Milk, Fruit ‘n’ Milk, and Shakes Classic Vanilla, have gained popularity in the market. Increasing consumer awareness of the health benefits associated with dairy-based beverages is a key driver of market growth.

Meanwhile, consumers are increasingly seeking healthier options, including organic and lactose-free dairy products, driven by dietary restrictions or preferences.

However, the industry faces challenges such as competition from plant-based alternatives and price volatility.

Many consumers are turning to plant-based alternatives due to ethical reasons or dietary preferences, posing a threat to the dairy-based beverages market. Price volatility in raw materials can also impact profitability.

To address these challenges and stay competitive, key players in the market are focusing on innovation, sustainability, and expansion into emerging markets.

In addition, technology analysis plays a crucial role in product development, allowing companies to create new and improved dairy-based beverages.

Awareness campaigns also contribute to market growth by offering consumers a diverse array of flavours and functional benefits.

In conclusion, the report noted that the global dairy-based beverages market is expected to continue its growth trajectory in the coming years.

Meeting consumer demands for healthier options and expanding into new markets will be key priorities for industry players.

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