The value of the global dairy products market is expected to reach 360 billion U.S. dollars by 2019
The global dairy products market is expected to witness significant growth over the next few years. The growing population base, increasing consumer awareness levels regarding nutritional values of dairy products, the rise in per capita income, and change in consumer dietary patterns are the key drivers driving the market’s growth. Additionally, technological advancements and innovations for obtaining more milk from dairy animals are also projected to boost the growth of the dairy products market.
However, our analysis of the global food and beverage industry shows that dairy products manufacturers are facing challenges in terms of:
- The necessity for transparency: The growing health consciousness, combined with the wealth of information available to today’s consumer, has created a strong desire for openness and transparency. This issue is of particular importance to food and beverage companies, who are suffering from a lack of trust amongst consumers.[spacer height=”20px”]
- Rising pressure to ‘go green’: Growing demand from the government, non-profit organizations and consumers alike is encouraging food and beverage companies to develop sustainability strategies and to set targets for waste and greenhouse emissions reduction.[spacer height=”20px”]
To encounter such challenges and gain a stronger foothold in the food and beverage space, dairy products manufacturers are considering market analysis solutions. A robust market analysis solution includes an investigation of how the target market perceives a particular product or service. Market analysis also dissects product and service benefits and features and matches them up with the potential needs that exist within the mind of the targeted consumer.
The Business Challenge[spacer height=”20px”]
- The client: A renowned dairy products manufacturer
The client, a leader in the food and beverage industry space – specializing in dairy products, wanted to identify and gauge the upcoming attractiveness of the market space by analyzing the varying opportunities, threats, and trends. Additionally, the client wanted to leverage market analysis solutions to establish standards that could be used to measure their progress towards the goal.
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The Journey[spacer height=”20px”]
The market analysis specialists at Infiniti carried out extensive research comprising of interviews and discussions with leading stakeholders in the food and beverage space to help the client enhance business efficiency. The specialists further compiled information from a wide array of secondary sources such as paid industry databases, company presentations, and industry forums.
The Solution and the Business Impact[spacer height=”20px”]
Infiniti’s market analysis solution helped the client in identifying the metrics and standards to be used in the future to measure their progress towards goals. Additionally, the client identified the changes that needed to be incorporated to meet the market’s requirement for more profitability. This helped them enhance the company’s reputation and implement changes to improve the overall performance. Furthermore, the dairy products manufacturer examined the product offerings of their direct and indirect competitors to devise better brand positioning strategies.
The Future[spacer height=”20px”]
The dairy products industry looks to be a promising industry with a wide range of applications in the food and beverage space. Although dairy products serve as excellent resources of essential nutrients, several processing methods including spray drying, ultra-heat treatment, pasteurization, and heating lead to the loss of specific nutrients. Therefore, replenishing lost nutrients is imperative, and fortification of dairy products has emerged as an effective method for achieving this purpose in the coming years.