The global dairy flavor market is expected to grow at a rate of 5.64% over the next five years, according to a new report from ResearchAndMarkets.com.
According to the report, the global dairy flavor market was valued at $4.6 billion in 2024, and the market is projected to reach $6.4 billion by 2030. This growth is largely attributed to rising disposable income and increased spending on premium and value-added food products, such as ice cream and cheese.
“With the rise of veganism, the market is witnessing a surge in non-dairy alternatives to milk-based flavors, such as plant-based and nut-based flavors like soy milk and almond milk,” an analyst with ResearchAndMarkets.com said. “In the coming years, these trends are expected to significantly stimulate demand for dairy flavors.”
Report Highlights
- The global diary flavor market is segmented into five flavor types: cheese flavor, milk flavor, butter flavor, cream flavor and other flavors.
- China is the Asia-Pacific region’s strongest market for dairy flavor.
- According to the USDA’s Economic Research Service, North Americans consumed 667 pounds of dairy products in 2021.
