6.3% growth p.a. projected

Date: 10.03.2023Source: yahoo! finance

In the changed post COVID-19 business landscape, the Global Market for Dairy Products estimated at US$530.7 Billion in the year 2022, is projected to reach a revised size of US$864.2 billion by 2030, growing at a CAGR of 6.3% over the period 2022-2030. Milk, one of the segments analysed in the report, is projected to record 5.5% CAGR and reach US$248.5 billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Cheese segment is readjusted to a revised 5.4% CAGR for the next 8-year period.


The dairy products market in the U.S. is estimated at US$144.6 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$202.3 billion by the year 2030 trailing a CAGR of 10.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 3.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.


Photo: Pixabay

Roland Sossna / IDM

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