Description :
Global dairy food and drinks market is expected to grow at a CAGR of 14.25 % from 2016 to reach $ 36,729 million by 2022 from $ 14,517 million in 2015 . Organic dairy food and drinks are manufactured by using organic milk as a raw material collected from livestock with the help of organic farming methods . It mainly includes perishable products such as milk , yogurt , cheese , butter , and ice-cream , which are used on the daily basis by the consumers . The unique nutrient package and benefits provided by the dairy food and drinks make them an important part of consumer ’ s life . Continuous introduction of innovative organic dairy products drives the market such as energy-based milk drinks and flavored organic milk drinks .
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The demand for organic dairy food and drinks is steadily increasing day by day . Growth in health awareness among consumers is one of the key driving factors for this market . In addition , food safety , environmental protection , animal welfare , and increase in use of natural and organic products are other major factors contributing to the market growth . Moreover , increase in purchasing power of consumers , improvement in the standard of living , and initiatives taken by the government associations such as low interest rate , loan facilities also drive the market growth in developing countries . However , high price of the organic dairy products , private labels faking organic dairy products labels , lack of promotion , and increase in R & D cost hampers the market growth .
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Furthermore , hormones such as bovine growth hormone ( BGH ) and recombinant bovine somatotropin ( rbST ) are used to increase milk production in cows to produce nonorganic milk . However , excessive use of these hormones leads to the growth of IGF-1 ( insulin-like growth factor ) which results into the occurrence of the breast cancer . This is because the consumers are attracting toward the organic dairy products . Rise in demand for organic milk and availability of large variety of organic dairy products along with the development of new and innovative products in this segment provides huge opportunities to the market .
The organic dairy food and drinks market is segmented based on product type , namely , organic milk , yogurt , cheese , and others . Geographically , the global organic dairy food and drinks market is segmented as North America , Europe , Asia-Pacific , and LAMEA .
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Company Profiles 1 The Kroger Company
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