According to a new report published by MarkWide Research, titled, “Dairy Whiteners Market,” the global market for dairy whiteners is experiencing robust growth, with a projected compound annual growth rate (CAGR) of 7.1% during the forecast period from 2023 to 2030. This growth is attributed to the increasing adoption of dairy whiteners in coffee and tea, changing consumer preferences, and the convenience they offer.
Key Market Insights:
- Coffee and Tea Culture: Dairy whiteners have become a popular choice for enhancing the taste of coffee and tea beverages, driving their demand.
- Long Shelf Life: Dairy whiteners have an extended shelf life compared to fresh dairy products, making them convenient for storage.
- Versatile Usage: Dairy whiteners find applications in various recipes, including desserts, soups, and sauces, contributing to their versatility.
- Emerging Markets: The market for dairy whiteners is expanding in emerging economies, driven by urbanization and lifestyle changes.
The dairy whiteners market is anticipated to reach a valuation of $12.6 billion by 2030, compared to $6.1 billion in 2023. This substantial growth reflects the growing consumer demand for dairy whiteners as a staple in coffee and tea beverages.
Factors Driving Market Growth:
- Coffee Culture: The global coffee culture, including the popularity of specialty coffee, is boosting the demand for dairy whiteners.
- Convenience and Portability: Dairy whiteners are convenient for on-the-go consumption and do not require refrigeration, making them attractive to consumers.
- Urbanization: Urban lifestyles often entail time constraints, making dairy whiteners a convenient choice for busy individuals.
- Flavor Variations: Manufacturers are introducing flavored dairy whiteners, appealing to consumers seeking unique taste experiences.
The dairy whiteners market is segmented based on product type, packaging type, distribution channel, and region.
By Product Type:
- Powdered Dairy Whiteners
- Liquid Dairy Whiteners
By Packaging Type:
By Distribution Channel:
- Convenience Stores
- Online Retail
- North America
- Latin America
- Middle East & Africa
The dairy whiteners market is competitive, with key players including Nestlé S.A., FrieslandCampina N.V., and The Kraft Heinz Company, among others. These companies are continually innovating to meet consumer preferences and expand their market presence.
The dairy whiteners market is witnessing robust growth, fueled by the global coffee and tea culture, changing consumer preferences, and convenience. As consumers seek to enhance their coffee and tea experiences, dairy whiteners have emerged as a popular choice. With a projected CAGR of 7.1% from 2023 to 2030, the market presents significant opportunities for businesses in the dairy industry.