ALBANY, New York, December 17, 2018
ALBANY, New York, December 17, 2018 /PRNewswire/ --
The demand within the global dairy blends market has been rising due to the growth of the dairy industry in recent times, finds Transparency Market Research (TMR). The market vendors in the global market for daily blends have made concerted efforts to ensure a regular inflow of revenues into their business. The leading vendors in the global dairy blends market are continually expanding their product portfolio to increase their profit margins whole catering to the needs of multiple population demographics. It is safe to ascertain the competitive landscape of the dairy blends market as a densely crowded business space, consisting of several small, medium, and large enterprises.
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The key market vendors in the global market for dairy blends have overhauled their business strategies to fit into the needs of the masses. These vendors are expected to allocate huge budgets for marketing and promotion of their products in the years to come. Furthermore, the leading vendors in the global dairy blends market are also expected to acquire the small vendors in order to expand their geographical reach. Besides this, mergers and strategic partnerships could also be a recurring trend in the global market for dairy blends over the next decade.
A report on the global market for dairy blends by Transparency Market Research (TMR) reveals that this market accumulated revenues worth US$2,853.7 mn in 2017, and is projected to reach a valuation of US$3,789.3 mn by 2022-end. The CAGR of the global dairy blends market over the period between 2017 and 2022 is estimated to be 5.80%. On the basis of product type, dairy mixtures are in great demand across several regional pockets. Based on geography, the market for dairy blends in North America is expected to expand at an astral rate in the years to come.
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Need for Specialty Food Ingredients to Propel Market Demand
The global market for diary blends has been expanding alongside the growing need for specialty food ingredients in the food industry. The use of dairy blends in confectioneries and bakeries is a nascent trend that is projected to propel demand within the global dairy blends market over the forthcoming years. Furthermore, the availability of dairy blends in various forms including powdered, liquid, and spreadable blends has also increased demand within the global market for dairy blends in recent times. It is projected that the market for dairy blends would mature as the food industry introduces several new dairy-based products and recipes.
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Vegan Lifestyles could hamper Market Growth
Despite the skyrocketing rate of growth within the global dairy blends market, certain factors still restrain demand within this market. The promotion of vegan lifestyles, especially across the western regions, could place a negative toll on the growth prospects of the global dairy blends market. Furthermore, dairy blends are not very popular across the emerging economies, and this takes a large consumer base away from the market. Nevertheless, the easy storage and refrigeration of dairy blends as against dairy products is expected to keep enhancing the growth prospects of the global market.
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The review is based on TMR's report titled "Dairy Blends Market (Product type - Dairy Mixtures, Dairy/Non-Dairy Ingredients, Functional Ingredients, and Carrier Dairy Blends; Form - Powder Dairy Blends, Liquid Dairy Blends, and Spreadable Dairy Blends) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022".
The global dairy blends market is segmented as follows:
By Product Type
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