Dairy Industry Market
The global milk production expanded at a substantial rate especially in India, Turkey, the European Union, Pakistan, the US, and Argentina in 2018, which was partially offset by a decline in milk production output in China and Ukraine. Growing population, higher income levels, rising health consciousness, and new product launches are primarily attributing the increasing demand for dairy products. However, due to the recent COVID-19 outbreak, the global dairy industry is facing a serious crisis as a result of which several US-based dairy farmers are dumping milk. yogurt and dairy dessert segments are expected to have a significant impact on their revenue-generating capacity due to the COVID-19 outbreak. Since, yogurt and dairy desserts are not accounted that much essential in basic foods as milk and other dairy products, their availability has been impacted much more over other dairy products. Based on the distribution channel, the market is classified into supermarkets/hypermarkets, convenience stores, and specialist retailers.
COVID-19 outbreak disrupting supply chain of the dairy industry
The novel coronavirus is rampaging across the globe and continues to challenge a wide range of industry verticals including the dairy industry. Overall COVID-19 cases reached over 1.4 million with death toll around 83,000 as of 8th April 2020, according to the Worldometers. With nearly 400,500 infected persons, the US is majorly affected due to the virus spread. The US is followed by Spain and Italy with cases around 146,690 and 135,586 respectively as of 8th April 2020. With no vaccine in place, the governments of several nations have taken precautionary measures to lower the spread of the virus. The spread of the deadliest virus has forced the government of several nations to lock down streets, cities, and states of the country. Cinema halls, restaurants, cafeterias, pubs, bars, and other entertainment places have been shut down so as to keep people away from social distancing.
Following the strong demand for basic foods such as dairy products, the governments have allowed the essential businesses to operate amid the lockdown; however, the milk supply chain has seen a host of disruptions that are hampering dairy farmers from getting their products into the market place. There has been an occurrence of the substantial shift from wholesale food-service markets to retail grocery stores as the mass closures of restaurants and schools took place. This created logistical and packaging nightmares for plants that process milk, butter, and cheese. Transportation and logistics companies are also reporting a shortage of workers to deliver dairy products, hence disrupting the supply chain.
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The Report Covers
- Comprehensive research methodology of the Dairy Industry Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Dairy Industry Market.
- Insights about market determinants that are stimulating the Dairy Industry Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
Market Segmentation
Product Type
- Milk
- Cheese
- Butter
- Dairy Desserts
- Others (Yogurt)
- Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Store
- Specialist Retailers
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