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The Market for Dairy Flavors
By: Jamie Rice
Posted: July 21, 2014, from the August 2014 issue of P&F magazine.
The global market for dairy products is currently worth $481 billion and growing at a rate of 5.1% per year, fueled by growth in demand in the Middle East and Africa, Central and South America, and Asia Pacific (T-1). Cheese is the largest product category, with the global market for cheese now worth $195 billion (T-2). Ice cream and frozen desserts is the next largest market, worth $92 billion globally and growing at a rate of 5.9% per year.
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